So a friend completed a purchase from a Chicagoland company

Discussion in 'Lease Purchase Trucking Forum' started by sleepy14848, Mar 26, 2023.

  1. sleepy14848

    sleepy14848 Bobtail Member

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    So check this out, friend wanted to comeback to otr work and learn flatbed, found a Chicagoland company that would hire him and show him a few things. In the meantime he was buying his own truck and gonna lease on with them, after he did that the company offered him to sell him the trailer he was using. So he researched prices etc and felt that it was a fair deal.

    Sorry I don't know the exact numbers or terms but I would say he was with company for a good 2 years . Anyhow he got to the end and basically took off with trailer and worked under his own numbers. He figured out he actually over paid so was looking into possible legal action but finally 6 months later he called the company and they agreed on overpayment and owed escrow so he got all that back and the title finally.

    So this is most definitely one of those shady 1099 lease purchase places but if you stick out the terms etc they finish as stated. So basically if you stick it out with these companies you might actually walk away with the equipment...
     
    bryan21384 Thanks this.
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  3. Judge

    Judge Road Train Member

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    Let the buyer beware.
    Thought it was fair.
    Got it paid off and own it, now they screwed him over.


    Dot try to sue cause you don’t like song choice, it’s a buyers market, now, but it was a sellers market then.
     
  4. Chinatown

    Chinatown Road Train Member

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    Not too shady if they refunded all the money.
     
  5. sleepy14848

    sleepy14848 Bobtail Member

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    the over payment was from the lease contract terms themselves, nothing about changing price along the way. But sure over time of the term the value changed but that's the risk you take with any vehicle purchase
     
  6. sleepy14848

    sleepy14848 Bobtail Member

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    I'm not naming names cause it's not my place, but this particular company has been labeled on these pages in the past. But yeah more saying that just because the label is on here doesn't always mean there all bad
     
    Chinatown Thanks this.
  7. blairandgretchen

    blairandgretchen Road Train Member

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    Beat around the bush much?

    Why not just spill the beans?
     
  8. Magoo1968

    Magoo1968 Road Train Member

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    He must be the elusive 1 we all know how the other 99 out of 100 Fared out ..
     
  9. Rideandrepair

    Rideandrepair Road Train Member

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    Took off with trailer, worked it for 6 mos. Then finally got the title along with the cash they stole from him. Something is missing.
     
    JolliRoger, JoeyJunk and Last Call Thank this.
  10. Last Call

    Last Call Road Train Member

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    The whole story stinks like Bull sleet
     
  11. ibcalm19

    ibcalm19 Road Train Member

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    :D:D
     
    JoeyJunk and Rideandrepair Thank this.
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