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.
The Anti-Lease Purchase Program
Discussion in 'Ask An Owner Operator' started by BigBadBill, Apr 10, 2012.
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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. -
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.SHC Thanks this. -
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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 .SHC and Jarhed1964 Thank this. -
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. -
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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 . -
SHC Thanks this.
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