If you've only got a few payments left on the truck they really can't starve you out can they? The cost of going from a renter to moving into your own house is more than just payments. It will cost you maybe a $1,000 on the low side for deposits to get electricity, water turned on etc. There is a huge cost to just moving... The house ain't going nowhere and real estate ain;t gonna become a hot commodity any time soon. If you want the truck stick it out and put the move on hold for a little while longer. Really it just sounds like typical shenanigans any company driver or lease purchase "employee" that is forced dispatched just has to deal with. Not a lawsuit which is no different than what anyone else has commented. It is a combination of things maybe the freight is down or maybe they are out to get you, we can never really know. We can see it played out yet again why lease purchase is a bad idea all around though...
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Need help dont know what to do
Discussion in 'Lease Purchase Trucking Forum' started by rstrucking2012, Mar 14, 2013.
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chalupa, rstrucking2012 and RedForeman Thank this.
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we have been in the rental for 14 years and pay $500 a month when we started the purchase of the house we where not living paycheck to paycheck we have $10,000 saved in our personal account and have about $6000 in our trucking account for main. so at the time that we decided to purchase we thought now is a better time then any we had been doing really great so when the company that we are lease purchase with found out things begin to change quite fast and in the last three weeks our paychecks have gone for $1000-$1500 down to less then $700 and last week we ended up in the hole a little over $300
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yes you are right about all the costs of moving but as for the deposits we have already checked into that we will not have any due to the fact we are only moving a couple of miles from where we are now. So all the companys stay the same we just have to change the addresses and as for the fright being low that isn't it either we have a couple of friends that work here as well and they are getting great loads of 2.50-3.50 a mile and as for us we are getting the bottom of the barrel the last 3 weeks of 1.00-1.50 a mile and it is killing us very fast. I feel like we are getting the shaft and out to get us. As for lease purchase being bad all around I agree and we have talk to our banker and explained to him what is going on and he is strongly considering giving us a loan to pay the truck off (IF THE COMPANY WILL LET US) and have been accepted to mercer trans. just found out our acceptance went through have to go to our banker this weekend with our expected rev. and expenses
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Well, the answer is right in front of you then. Use what you have saved to live on and make the truck payments until you own it. Put the house deal on hold until you've got the truck issue straightened out.rstrucking2012 Thanks this.
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so you think waiting on the house is a better idea even though our expenses would be less then what they are not.
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You will be better off if you drive company should make 120-150k before taxes live cheap on the road put 75k in an account I will say stock but interest rate suck right now. If you do this for 12 years you should have a million in the bank. That is if one of you have not killed the other in this amount of time and if so the state will pay your bills the rest of your life.rstrucking2012 Thanks this. -
I'm not seeing why everyone is saying put the house on hold.. buying the house will lower your monthly expenses.. they're making it seem like if you buy the house then you'll have to choose between making a truck payment or making a house payment if money gets too tight.. If you're renting you'll still have to decide between making a truck payment or making a rent payment so what's the difference other then the fact that you'll be paying less a month then you are now?? And i've moved three times in three years and it's only cost me at most $1500 and that was to move from florida to north carolina. My last move was just a ten mile drive and it only cost'd $75 and that was because i rented a U'Haul trailer so i could do everything in one shot.. Would have been free if i just made multiple trips.
rstrucking2012 Thanks this. -
mitchtazz: that is what I was trying to point out earlier our house payment taxes and insurance would only be about $435 a month and like I said earlier we pay $500 a month now and just got home and had a letter in the mail from the landlord that he is upping the rent to $525 a month starting May 1st. So that is why I didn't understand why everyone was saying to wait on the house. But I do understand a little I guess cuz then it wouldn't be something else to worry about. But I am torn on what to do about the job thing but by the weekend I think we just may have it all figured out MAYBE depends on what our banker is going to say when we talk to him.
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so if you were to continue renting you wouldn't worry about making your rent payment, because.....??? be it rent or a mortage, it has to be paid or you'll be living in the truck full time... so if possible please explain it to me cause i'm not understanding the general thought process in this thread.
Last edited: Mar 14, 2013
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I'm baffled - nothing new, I know - but $1000 to $1500 a week teaming? What was your business model? Heck, I'm on my second truck with one of the evil mega carriers and I do that solo ... One thing I've noticed, dispatchers keep runners running and sitters sitting ... at $1000 to $1500 a week when freight was good - you were getting crumbs then ... slow season, you're getting less crumbs now.
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