LRM LEASING HAS ANYONE DEALT WITH THEM?

LRM is a very good company .

 

I know this is an old conversation... however - and this is IMPORTANT - the number one reason businesses fail is NOT being underfunded, but rather being undereducated and unprepared to run a business.

You can have a ton of money and the credit to borrow tons more - and still fail - and for those who have no clue what they are doing business wise, that will inevitably be the end result.

Being a great truck driver does not have one thing to do with being even a decent business person and that seemingly little distinct difference is actually not little at all. It is a huge difference - and the difference that ultimately more often than not separates the successful from the failures.

My humble suggestion is that anyone who wants to be a successful trucking business owner takes the time to learn what that means and prepare themselves for it before blindly just jumping in with hopes and dreams.

 

Please share who this other company is that's similar to the Penske setup to my email. I'm a new startup. Thank you
arolland75@yahoo.com

 

Getting a loan and buying a truck is better.

1. Lease Purchase
Walking away from the high miles truck in a year.
$1800 typical monthly payment * 12 = 21,600
$16000 down
Total consumed in a year = 21,600 + 16000 = 37,600

2. Getting a 3 year loan for a $50,000 high miles truck, at 14% interest loan will be 62,019.73.
Selling it in a year.
1,708.88 monthly payment * 12 months = 20506.56
62,019.73 loan - 20506.56 in monthly payments = 42119.17 still owed. Sell the truck for 40,000, then 2119.17 still owed.
Total consumed in a year = 20506.56 + 2119.17 = 22625.73

 

Please delete.

 

how hard is it to get loan these on a truck

 

I edited my post, so you should probably edit my comment out of your post, thanks.