Tell me why the lease option is so bad

lLease purchase is designed to make you pay the company for a job... In IL it is not permited...It is a scam... A company called midwest distribution put lease purchase on the map...The owners went to jail for selling trucks they did not own...Anyway learn the business, than if you get a handle on what you are doing and save some money there are good companies that will finance you...G.E capital, PACCAR, just to name a few Wells Fargo...But all of them will want to see time in the industry, and good credit...

 

Yes indeed, from Ft. Scott KS.
Wow, the memories. I can't believe I forgot all about them.
We all knew what a scam that was, yet history continues to repeat itself.

 

I remember one of those guys telling me he had to pay his co-driver .07 cpm out of his settlement.

 

Why would you want to assume all financial liability for operating a truck before you know all of the ins and outs of the driving job, owning the truck, and getting freight.

Here's an easier to follow example. Say you are a 16 year old teenager looking for your first job. You go to McDonald's and they offer to set you up in the restaurant business. They will lease you a cash register, give you room at the store counter, and charge you rent to use part of their store.

Or you walk into Burger King and they pay you $8 per hour to take orders and fill orders using the store equipment and facilities.

Don't get into a business relationship until you know so much about all of the details that you could probably take advantage of the other party. Until you have that level of knowledge about the business you are probably the one being taken advantage of.

 

lease operator = glorified company driver (not really "glorified")

 

lease operator = company driver that pays for VIP services

 

Bottom line is with a lease you pay for everything and they take a percentage for dispatching you and anything that might go wrong is on your butt. You make there lease payment,you have to pay for mechanical problems, and blow outs. The company you are hauling for collects there percentage worry free and lets you take the risk.

 

I think you're better off just becoming a prostitute. At least that way you're getting ###### without a middleman...

 

The biggest downside is the companies bought these trucks to lease out when the price was high, thus they want you to lease them for a high rate. There a a ton of good used trucks you can buy for 1/4 of a new truck. That's where I'd look rather than lease some high dollar rig in today's economy.