one of our drivers is thinking about doing a lease purchase

Discussion in 'Discuss Your Favorite Trucking Company Here' started by ad356, Sep 10, 2019.

  1. ad356

    ad356 Road Train Member

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    i was talking with one of the other drivers today and he says he is thinking about leaving his home daily job with walton and doing a lease purchase..... he mentioned US xpress and he mentioned celadon (a nearly bankrupt company). i think he is making a grave mistake. if he does it he will be paying all the repairs on the truck and making NO MONEY. they will convince him he is going to be an owner op...... but the chances of ever actually owning that truck are slim to none. i advised him he is better off staying at walton as a company driver or buying an older non-emissions truck (something with a 6NZ cat, N14 Cummings, or Detroit series 60) and save the cash for it. start out with an older truck and if you make a profit buy a newer truck if you desire.

    i am content letting someone else pay for insurance tires and repairs, but i feel if your going to be an owner-op you are best off not to start out in debt. i also think lease purchases are toxic scams...... stay far far away.
     
  2. Majestic 670

    Majestic 670 Heavy Load Member

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    He's his own man let him call you when he becomes a believer and tell him his replacement enjoys the job he gave up.
     
  3. ad356

    ad356 Road Train Member

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    oh i intend on leaving the chips where they fall...... i gave him my opinion now its up to him make wise/unwise choices. he said he is sick of working for other people, sometimes you are better off i think. lease purchases pray on these types of people that are "sick of working for other people".

    but it is his problem if he decides to do it.
     
    C.O. Jones Thanks this.
  4. tnevin225

    tnevin225 Heavy Load Member

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    The problem with that theory is you're even more under their control with a lease purchase.
     
    D.Tibbitt, Deadwood and 70’Nova Thank this.
  5. ad356

    ad356 Road Train Member

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    my current job, i show up to to work, i load milk and go to the plant if scheduled to do so and go home. no ELD and rarely any communication from the boss. i saw him at the shop today (he has been driving too). it was 5 minutes of non-job related small talk and on my way. he knows i know what i am doing and leaves me alone. i think that's not too bad.
     
    NavigatorWife and G13Tomcat Thank this.
  6. xairx

    xairx Light Load Member

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    Problem here is, one of your drivers is *not* thinking. I got my own truck but I'm leased on. Aaaaaaand it's time to jump ship. I cannot IMAGINE what it would be like if *my* truck was leased through the company I'm with right now. I'd be out of options and SURE out of a lot of money...
     
  7. 70’Nova

    70’Nova Light Load Member

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    It’s not a good idea to have the same company control your lease and your freight. They can put you under anytime they feel like it.

    Leasing means you’re paying the overhead for them.
     
    Deadwood, MACK E-6 and xairx Thank this.
  8. Chinatown

    Chinatown Road Train Member

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    Lease purchase means you're still working for the trucking company, but with many more headaches.
     
    Deadwood, MACK E-6, G13Tomcat and 4 others Thank this.
  9. ad356

    ad356 Road Train Member

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    if my truck breaks right now, i write it up and tell the lead mechanic...... get into another truck and keep going...... its NOT my problem, the milk still has to be picked up so i wont loose any income either.
     
    G13Tomcat Thanks this.
  10. G13Tomcat

    G13Tomcat Road Train Member

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    Same here... but for the milk. (Now you're making me thirsty....LoL..)
     
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