Straight Lease Planning

You should definitely have cash saved. You'll have to pay for breakdowns and such and you'll have weeks where you didnt run so well. It's definitely imperative to have a nest egg.

 

you do realize that most lease/purchase deals don't work well for the driver???

there are many posts on here of the horrors of l/p

 

Why not be a company driver for 1-2 years where every dollar of your paycheck is profit and all of the expenses are paid by the company?

Yes, IF THE COMPANY HAS THE FREIGHT THEY SAY AND PAY WHAT THEY CLAIM you can make more money as a lease-op or owner-op than a company driver. But you have to know how to be a good lease-op or owner-op and connect with an honest trucking company for that to happen. If you can't be 100% sure which contracts are honest and which contracts are not honest by reading them you really shouldn't even attempt being a lease-operator yet.

Signing up to pay all expenses of the truck every week, no matter how few miles you drive, is a huge and dangerous responsibility. You should also pay the $50 to join OOIDA and have them give you a free lease analysis before you even consider signing any lease. I grew up poor and learned that making big expensive decisions without knowing what I was doing is how to stay poor, not get ahead in life.

 

I sure am busy dropping truth bombs on TTR today. If you can't manage money in something so easy and simple as your own personal life working for somebody else and dont have anything on your own ($$$$$) to sink into a real business you ain't ready to do this. Especially when it aint even a real business from the get go. Lease purchase shifts business expenses onto the gullible. You ain't ready for this it's a big red flag that you need somebody else to finance your irrational dream.

 

Why do you need to be a Lease Operator or a quasi OO?

Personally go with a good company and stack cash. I would try to get on with Walmart. Or UPS, ABF. Haul gas for pilot, loves, sheetz. Maybe food grade chemical, it's a bit safer than hazmat. Abf probably pay the least. All others are over 100k. Some will have 401k with partial match.

I'm leased on with my truck. So can I change companies if I want and just move my truck. Money is good today, but it could change in a month.

 

I smell business success, just by reading the post.

No wonder unscrupulous companies fight hard to keep the lease purchase scam going.

 

I would look at SNI and Prme then to see what they require for a down stroke to lease on to one of those walk away leases.


I knew some one through a friend that did hurricane express. He ran for three weeks made 900 dollars after their cut total. So he quit. Stories like that, many of them, make people not like leasing. I have talked to SNI people and Prime who are happy there. It wouldn't be for me. But they were happy there.



Original question. If you lease a truck on and make payments, how do you pay for repairs? Does it have a warranty? Thru prime or SNI or factory. Do you have 20k stacked up? What about an engine? Turbo run you 8k? After treatment system up to 20k. Auto transmission? I can't imagine what an engine rebuild would be today.