New vs. Lease purchase trucks

Well cb talk is not always the facts..of course you know that. But 2.50 p/mile is not unheard of. Lots of times truckers talk about that 1 good week, or that 1 time they had exceptional fuel mileage. But who am i to say? Its their story..let'em tell it like they want.

 

The fools that yack about all the money they make are usually full of #### and dont know they're operating expenses.

A lease operator owns a truck but is leased to one carrier. These fools that lease purchase trucks are basically glorified company drivers. After that guys co takes his weekly truck payment, fuel costs and other costs for doing everything else, bet he nets a grand.

 

They do it ( lease purchase ) because they are clueless, have horrible credit, and would never be able to purchase a truck on their own... Now they can sit at the lunch counter and claim to be owner Operators.

 

There are still people buying Time-Shares. That doesn't mean it makes any financial sense at all. A ton of drivers switching from company driver to O/O or Lease driver do ZERO research. They believe the overly optimistic projections from the company and IMMEDIATELY start spending like a millionaire, then go bust.

It's a free country. Only you can protect you. Nobody else has that job. Do research like your life depends on it.

 

It's not a lease purchase.

It's a flat out lease. The megas only lease their trucks. They don't purchase. And from what I've seen posted. There's no purchase possible. The trucks are traded in every 3 years. The guy getting screwed on the weekly payments has absolutely zero say. I have no idea why it's considered a lease purchase. Or why anybody could consider themselves a o/o.

What I want to know. Is how the IRS collects what they think is owed to them.

CNBC posted a story today. The IRS audits more poorer folk then rich. Because they just don't have the manpower or resources. I think it was an old article.

 

There is another term for lease purchase - Rent-to-Own.

You know, those shady outfits that rent you tv's and stereos and couches for a little each month, which you will own after 2 years paying 3 times the retail cost.

Those people often brag about what they 'own' as well.
But miss a payment... then see how much you really own.