The Anti-Lease Purchase Program

Discussion in 'Ask An Owner Operator' started by BigBadBill, Apr 10, 2012.

  1. BigBadBill

    BigBadBill Bullishly Optimistic

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    The note would be between my company and the driver but 3rd parties would be doing the financing.

    We have the ability to withstand the down times. That is really not an issue. We even expect that there will be some down hard times with drivers and we are prepared for that.
     
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  3. BigBadBill

    BigBadBill Bullishly Optimistic

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    On growth we have a very planned expansion. The key is the correct drivers and proper training. Well, a couple of the keys. It is like a janitors key ring.
     
  4. revelation1911

    revelation1911 Heavy Load Member

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    If I read what 3B posted the trucks would be leased to him. That would pretty much insure he would get his money or truck back 99% of the time.
    Buying a class* is lots hard to get credit on versus a car. Thats why so many drivers are tied to compnaies now, that are supposedly owner operators.
     
  5. BigBadBill

    BigBadBill Bullishly Optimistic

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    There is a completely different level of risk when are working with someone that has there own truck and someone that is looking to have you finance. I have no issues terminating a lease with someone that is not working out, or worse, putting our safety ratting at risk.

    But what I am getting better at is learning to end conversation sooner with prospective drivers that are not going to work out. I spend 70-80% of my time talking and emailing prospective drivers.
     
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  6. BigBadBill

    BigBadBill Bullishly Optimistic

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    Dry van and flatbed. Our dry van does better compared to the industry. But we are growing our flatbed fleet.
     
  7. US MARINE

    US MARINE Heavy Load Member

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    You control your business , or they will help INCUBATE you to be ready to run your own business . You not gonnna get any trade secrets but you can do just about anything you want to just as long as you are business minded .

    A business minded person will succeed in Bills system . A STEERING WHEEL HOLDER will fail ... Thus the strict vetting process ...
    They don't Have to fill a seat ... They want to expand that is different entirely .

    Credit at banks are tough or your going to pay 17-18% on a truck trust me I know ... Even if you got 20-25% down .. So they are making it easier for you to jump the hurdles that most drivers fail to and that's ... GETTING A GOOD DEAL ... Not meaning nes the truck but the financing arrangement that's sometimes the toughest part . Plating , MC # IRP etc if you've never done it it's a pain in your rear .. Bill helps you obtain all that .. And a ... Good Truck , Good Rate , Good Payment ...

    Once the truck is paid off its YOURS ... No balloons , mileage caps , etc
    It sounds like a LP in a SENCE only because you must stay with F2F / Bill until the note is paid off .. But my hunch is you won't leave once it is . The other reason this is different is

    1. Percentage vs Mileage ( % vs cpm )
    2. No dispatcher ( but there is help )
    3. Run your own show
    4. Assistance when you need it

    You are not limited to the hand that feeds you as traditional programs . You are the caption of you ship at F2F you can
    1. Set up relationships
    2. Get your own direct customers
    3. Etc

    IT'S not a CPM deal

    That's what sets this aside .. You got to understand Bill is not a bank he's a driver just like us .. That had a vision and now that vision has come to light and fruition .. Bill wants to see you succeed ,

    That's why they Vet drivers before you are approved . It takes a business minded person to succeed at this .
     
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  8. BigBadBill

    BigBadBill Bullishly Optimistic

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    First off this is not a lease. Straight finance.

    Because, like me when I started this business, they CAN'T buy the exact same truck for less money. They can't buy any truck now because they don't have enough down.

    Yes, the people doing the financing are making money on this. It is business and that is what business people do. We make money on the driver having the truck leased to us.

    And if the driver does what they are supposed to do they will make far more money than as a company driver. And if you look at driving and saving the money to pay cash there is an opportunity cost. The interest paid, potential extra you may pay for one of our trucks and other extra expenses is going to be far less than the extra income a driver could make leased to us.

    A smart driver, after building up reserves, would pay extra towards the truck and own it. And not to mention having the ability to run yourself.

    Yes this is a business and all involved expect to make money. But you can make money and be ethical at the same time. This in part is a little bit of me wanting to pay it forward. I was given the same opportunity and now have a growing company.
     
  9. BigBadBill

    BigBadBill Bullishly Optimistic

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    Good vetting is not about what is asked or what answers are. But more about what is not asked. In terms of con-men, that is part of the risk. But without risk there is no reward.

    Email me. address in my signature.
     
  10. US MARINE

    US MARINE Heavy Load Member

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    I'm gonna give a insert from one of our phone calls bill about opportunity ...

    I was going to wait for another 3-4 possibly 6 months keep my current truck and balk on a unit I was days from taking delivery on . Bill did some research ( on his own I might add ) and found out that the truck I was looking at was almost 8,000 under priced and was a great deal

    The opportunity is .. Do you wait cause truck prices are rising especially used or do you take the opportunity as it presents it's self .
     
  11. monkeypuncher

    monkeypuncher Medium Load Member

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    Not necessarily true, I for one have owned 3 trucks, but do not have enough for a down payment and enough to put aside for emergencies that might come up. When I sold my truck I didn't think I would miss it so much, so I paid cash for a condo and financed a new car. Now I have saved up about 5 grand I can use to either find a fair lease or go company. You do have a point, but good credit alone won't get you into a truck.
     
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