My JCT "Failure"....

Upfront disclosure... I don't care one bit if the reader is a proponent of lease purchase or an anti-LP crusaders.

I started orientation at JCT in February 2014. I was one of two who had all the online stuff done before arrival. The two of us got to choose trucks before everyone else. My choice was a 2012 Cascadia with 347K on the clock. There were multiple used trucks with lower miles and multiple brand new trucks to choose from. My "loan" through Three Diamond Leasing was for $108K at a 10% apr. A short search of current pricing revealed JCT's price was about average for a similar Cascadia on the retail market.

My start was a little rough due to an injector failure on my first trip. Cost me 7 hours at a dealer. A few weeks later a driveshaft issue cost me a day in SoCal. After that the truck was an absolute sweethart right up to the day, 16 months later, when I returned the keys to JCT with 525K on the clock. There were some hiccups but nothing that left me on the side of the road or even cost me time that I didn't need to catch my breath.

In 16 months I had exactly one negative settlement and that was entirely due to Trippak misplacing an envelope. Not claiming I made great money after paying for the truck and expenses but I wasn't expecting to get rich doing this either.. Anyone who goes L/P better understand their finances. Its your responsibility to know what you need to make and what the company is offering. My personal situation meant that I was comfortable with what I was bringing home.

I'm not thrilled with the amount of control JCT exerts over the truck maint account, but.. Having seen first hand the way drivers can treat equipment and knowing I signed a zero money down, walk away contract, I understand their position. They have an investment in the trucks and have to protect it.


So why did I "fail" as a Lease/Purchase driver?

Well someone recently dumped a very large number of Prostars on the market driving the prices way down. I purchased one in May for $20k less than I'd have paid for the same truck 2 months earlier. I was able to secure a loan on very good terms because JCT reports to one of the credit agencies.

Yeah, I failed to complete my purchase but what a great way to fail.

If ya see a Shiney Black Prostar draggin a JCT refer out on the road make sure ya say hello.

 

I plan to move on when the time is right but it cost money to change jobs. Right now I have a steady source of income and plan on getting my finances recovered.

3 days lost revenue flying to get the truck and moving it back to OK. Another 4 days lost clearing out the lease truck, getting qualcomm installed, markings, tags, etc. Then 2 days at home doing some preventive maint so I can be as sure as possible I don't get stranded someplace in a truck I'm not that familiar with. Adding in another week or so starting with another company wouldn't do my bank account any good.

My Prostar is ISX powered.. 475/1750 13 speed. I spent yesterday doing a thorough EGR system cleaning and replacing certain sensors. A force regen performed this morning to check condition of the doser and dpf. Cylinder drop tests as well.