Surprised at Prime Lease Purchase

Discussion in 'Lease Purchase Trucking Forum' started by texasmorrell, Dec 14, 2019.

  1. texasmorrell

    texasmorrell Medium Load Member

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    I was speaking with Prime recruiters about their lease purchase. I was shocked when they told me that you can take their truck and go to another carrier if you want to as long as you keep making the lease payments. I have never heard of that in the trucking industry before. Anytime you do a lease purchase it’s always in the contract that the lease must be completed at that carrier. You are a prisoner at that carrier until you complete the lease. Has anyone ever heard of this before? Do they do this because some judge in some courtroom at sometime told them that they can’t hold the driver hostage with the lease that way?
     
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  2. buddyd157

    buddyd157 Road Train Member

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    that's interesting, as i too have never heard of that....but, i suppose as it was said, "as long as you continue to make the payments"...

    i cannot say if "some judge" did so tell them.

    the only thing i can ever recall was, at any lease, you cannot haul loads for other carriers, unless the lessor was notified and paid a "fee" for the use of the trailer?
     
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  3. D.Tibbitt

    D.Tibbitt Road Train Member

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    Wfx has the same thing in their contract i have heard. After 1 year u are able to pay a certain amount of money and go to a different carrier. Sort of a buyout of the contract with the company but the lease company still owns the truck....i would be hesitant at taking a recruiters word for it . They may tell you that to get u in the program but if it doesnt state that in the contract then it is certainly not true. Make sure u read every word of that contract.
     
  4. Cat sdp

    Cat sdp . .

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    Schneider lets you take the truck elsewhere too.......
     
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  5. JonJon78

    JonJon78 Road Train Member

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    How does one go from getting canned at Mercer to Inquiring about a Prime Lease purchase? Times must be rough!!!! :biggrin_25513:
     
  6. texasmorrell

    texasmorrell Medium Load Member

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    I didn’t inquire. They called me. I just listened. You are correct. Things are rough since getting canned by Mercer. Right now at this very moment I’m sitting on a beach in Cancun trying to figure out what to do with all the extra money I’m making since I went back to pulling under my own authority. They even gave me a free trailer as a going away present. First world problems, am I right?
     
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  7. JonJon78

    JonJon78 Road Train Member

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    LMAO... Still holding that trailer hostage huh?

    Enjoy Cancun... Good times.
     
  8. D.Tibbitt

    D.Tibbitt Road Train Member

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    Oh wow this is the guy that stole mercers trailer lol
     
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  9. texasmorrell

    texasmorrell Medium Load Member

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    LMAO, yes sure am. Of course the court calls it my contractual right, instead of held hostage. Turns out a Kentucky judge told them they can’t just terminate a lease purchase contract if the contractor is making all the payments. Turns out that Mercer drivers can take their trailers and leave anytime they want and Mercer can’t do squat about it. Now Mercer is scared to death that this info is going to get out to their fleet. Good luck with that I guess.
     
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  10. texasmorrell

    texasmorrell Medium Load Member

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    “Stole”? No that’s not me. My trailer was owned by Wells Fargo Equipment Finance. Mercer never owned it. I’ve also got a purchase contract for it. Should be careful throwing around words like stole.
     
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