Prime's lease deal. The math gets done.

It seems as though my inquiry has gotten under the craw of some people, here. It isn't/wasn't my intent to "bash" any company, or driver. But, to play "Devil's advocate". So, having said that, here are my thoughts on any company's lease/purchase program. They aren't any different than a lease you'd enter with a personnal vehicle. With the exception of money down. There is a time agreement. There is a payment. There are mainenance clauses. With a personnal car lease, YOU pay for tires, fuel, PMs, etc., etc. At the end of the term, you have an option to buy the car, get a new lease, or walk. In other words, I am having a hard time seeing where anyone has a legitimate gripe about them. All the basics should be there. Is there more to these so-called leases than meets the eye? Are the companies really ripping off the people entering the lease? How, if you know what you're getting into. Go to any car dealership, and ask about their lease. See if it is comparable. Why wouldn't one want to make money from a lease? Is it greed? I say it's business.

Wait a minute! Gotta put on my fire suit.................... Ok. Go ahead.

 

Yeah... but you're messin' with a crusty ol' arsehole here - me!

IMO... from what I read in other company areas, there are a lot of ripoffs in the lease biz out there. Also, from people I've talked to, the support I see Prime offering to the lease ops, and the successful lease ops I run into, I'd say that Prime isn't one of them. It's a business opportunity, and most of the folks I hear that don't make it, are generally treating their business like a paycheck - which doesn't work, not paying attention to the bottom line or minimizing expenses. I think one of the flatbed guys on this forum may have gotten a raw deal from Prime, but that's also my opinion. Stuff does happen even in the best of companies.

So... take it for what it's worth, and put your asbestos undies in the wash - you don't need them from this direction!

 

Thank you, ironpony, for not throwing random fire at me. I'd like to see one of the "rip-off leases", though. It begs to question, are they really rip-offs? Or, as you put it, did someone think it's just another paycheck? Or, even, a hobby, if you will? Every company I've ever dealt with has been willing to reveal a copy of it's entire agreement. With the exception of one. I hung up the phone immediately.

 

Rather than read all these pages of posts, I can sum up my opinion simply.

Prime lease = Personal Bankruptcy!

Wont go into a long sob story of why I feel that way or what I think I know. I worked there, and thats my opinion. I learned my lessons and run a smarter more profitable business now. Enough said

 

If I was teaming I might look at one of these leases because after 3yrs you would want a new truck anyway. -but as a solo I have my doubts about the fleece.

But with Prime at least you have an APU on your truck =If you are gonna live in a truck you might as well do it comfortably.

I do enjoy people that will fight tooth and nail for the fleece. We are truckers after all and in some way we all get fleeced differently. -The dumb ones just don't know it! (e.g. Paid miles, idle times, wait times, lumpers, etc)

I do believe 2009 is the year of the failed fleece =I do not believe freight volumes and freight prices can support a solo fleece right now. =So be careful of these fleece agreements.

 

It just occured to me that some of you might think I'm looking to enter one of these contracts, and that's why I want to see one. Not the case. I already own a truck. I just wanted to help "clear the fog", if you will. That is to say if there is any. Again, I'm not so sure these leases are any different than a standard car lease. Except, with a car lease, you need a sizeble down payment. Although, this is why the truck lease is, comparably, a little more expensive.

 

Look guys... leasing equipment is a viable and often used strategy in business. In my former life I was an engineer, and we leased expensive test equipment all the time. The companies I worked for did this with assests they might not want to purchase, deal with depretiation, wasn't sure they would need for long periods, etc.

All the whining I hear is usually not a consequence of the lease, but mostly a consequence of the leasee not understanding what has to be done to support a business model that has a fixed cost that must be paid. Either your revenue covers the operating costs (including what you pay yourself) or it doesn't work.

So honestly... quit whining! It's getting boring...

 

Ran across an ON LINE version of the LEASE awhile back ( neighbour was looking into 1 ) , lot different if its a lease purchase or Lease Operator than your GENERAL MOTORS IMPALA or SILVERADO kind of lease.

The financial stipulations are in both directions ( whast you pay to them and what they pay you ) , automobile is in 1 ( what you pay for the use of the vehicle )

Now if you go to a dealer and LEASE a tractor then its more like the Automobile lease.

I will see if I can find it and post a link.

 

pulling trucker,what year is your truck? Just curious ,I was looking into sni purchase and that choice plan.Got any more info on that and how its working for you?

 

I want to piggy back on the The New Crime inc oh did I say Crime I mean Prime. They do talk a good one. They want to be your best buddy just to suck you in, and once they have there hooks in to you be prepared to be out there weeks on end without a pay check. So if your looking for the company with the nice building including a gym, company store, cafe bunk rooms, showers laundry room, movie, quite room then this is the place to be. Listen Drivers hear what we are saying if it sound to good to be true then it is. I spent one year with them and I am on the the mend of trying to keep my house.

look at the name Prime spelled backwards means
Enough
money
in
Robs
Pocket

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