Owner Operator 101 ??????

Dont do it. Just buy outright from a dealer/owner

 

Look at Greatwide. Not a small company, but you actually buy the truck, not lease to buy. They have many logistics divisions to choose from.

 

The biggest traps in the lease contracts?

1. Don't lease your truck from the same company that controls what, when and where you haul.

2. Flat rate per mile plus fuel surcharge will guarantee that you will starve unless you run your tail off. And if #1 is true, then you have no control over whether or not you starve.

 

Check to see what warranty comes with the truck? What does the company pay for as far as Plates permits and so forth and so on. If you get on a lease purchase that controls what when and where you go, be sure the set fees are very low on the weekly basis as far as the fixed expenses, Like if you are home, And you only run 1000 miles that week you will want a sliding scale, like the set fees plus a truck payment in an amount per mile! I know JCT has set amount of fees like $380.00 a week plus they charge between $.18-.21 PCM. So if you run the 1000 mile week then you still made money... A Little bit. Good Luck.

 

DO NOT LEASE FROM ANY COMPANY. YOU ARE PAYING FOR A JOB.

Sorry to yell. But these Lease/Purchase things are the biggest scam in trucking. Imagine you get a job as a machinist in a factory. And the foreman comes up and says, "How would you like to own this machine and then you make all the profit?" You would think that's crazy. No matter how much the foreman tried to convince you otherwise. But for some reason, truckers seem to think that paying for the company's machine is a real deal.

I've talked to guys who swore they got a real sweet deal with Prime on a lease purchase. But even some simple back of the envelope calculations showed me that they paid Prime for the privilege of hauling their freight. It's just crazy.

Please don't do it.

(And the reason they are offering leases on exactly these year models with precisely these miles is because the truck is rapidly approaching, or has already reached the point where the factory warranty expires. You will be on the hook for all maintenance as well as fuel as well as the lease payment. It's really slavery. Maybe that's too strong a word. But it's definitely indentured servitude.)

 

With this check I thee wed. I promise to run till I drop. If you don't have at least 60% to drop on the table, don't do it.

 

Greatwide is just a name now.. They are owned by cardinal now.. You never quit with greatwide.. They are on the south side of a huge take over.. Greatwide is not the place to be right now....

 

Here is what you should do..DO NOT LEASE A TRUCK....!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!...BIG SCAM FOR THE RICH.

Save your money until you get to about $15,000.Go on a search and find that truck.It is out there and has been taken care of..

Go to L/S and get you and the truck signed on..In about 2 months time,you will have the 15,000 PAID OFF and you will enjoy LIFE and TRUCKING again...Use Landstar for a couple years and then GO ON YOUR OWN and be your Own Man...