People think about Lease Purchase all wrong

Yep and it never happens. What it ends up being is a 1099 gig with no benefits that'll net worse than any old mediocre W2 company job.

 

Lease operators are ALWAYS 1099. Thats the person on the lease - the DRIVER may be a W2 employee of the person leasing the truck.

 

And you were giving advice ?

 

The part about w2

 

Honestly the whole fleace purchase thing is dumb. There is a reason most fail and why most drivers lose their shirt pants and the barrel too.

If you truely truely want to be a owner driver then you need to buy a truck from a 3rd party. Trying this "more profitable" company driver excuse is nonsense. Thats like saying your going to assume all the extra costs and risks of walmart if they promise you extra money. And even most walk away leases have clauses in them that allow the company to penalize the hell out of the "driver".

Further these companys have ZERO incentive to offer these "owners" any perks and will often intentionally screw them hell a LOT of them will happily foist off trouble trucks on these "drivers" in the hope the company wont need to deal with the cost. At least if you get your truck from a 3rd party and the mega plays games you can leave and find greener pastures elsewhere. Finally many if not most who get a fleace purchase have little/nothing in their maintaince accounts to start up so the gamble ends up fialing so often because the truck breaks and they cant fix it.

Even if you somehow become an owner at the end, your left with a worn out heavily overpriced fleet spec generic truck with little to nothing special about it and missing any of the optionals to do more specialized work.

If you really want to get paid better. Find a better more speicalized job instead of playing russian roulette with a #### bazoooka.

 

If the goal is to be a more profitable company driver, then I'd find the best paying company job within my abilities.