The Anti-Lease Purchase Program

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

  1. CondoCruiser

    CondoCruiser The Legend

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    Sounds like the driver is the 3rd party? Has the bank given you an okay for the plan?
     
    MNdriver Thanks this.
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  3. BigBadBill

    BigBadBill Bullishly Optimistic

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    Yes we have trailers. Those are sold to the driver as well. Remember, the goal of my company is to help O/O's move towards being independent if they want. And one of many road blocks to this is buying a trailer.
     
    US MARINE Thanks this.
  4. BigBadBill

    BigBadBill Bullishly Optimistic

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    Yes, capital is not an issue for us. We in no way will ever be over extended in anything we do. This deal, factoring, brokerage, what ever.

    If we don't have the money sitting in the bank to cover fuel and settlements for a driver for 45-days we won't bring the driver on.
     
  5. US MARINE

    US MARINE Heavy Load Member

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    Bill is telling you like it is ...

    It's not a Lone Mountain deal ... It's not even a LP

    It's a purchase of equipment thru his company .. And not everyone will be accepted its not like he has 10 trucks sitting on a lot he's trying to fill. If you meet the quota or vetting he will get the truck in that order ..

    I'm really not sure why some of you are trying to compare this to LM does LM ensure you have a job and give you ability to succeed ? It's not even the same concept .. Bill is expanding his venture that's it ..
     
    Jarhed1964 Thanks this.
  6. BigKid2

    BigKid2 Road Train Member

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    From what I have read it looks a lot like the program Crete runs with their truck purchase program. You buy it through them in the same way but your name is on it and you have to stay leased to them or get your own financing to leave.
     
  7. cpttuttle

    cpttuttle Medium Load Member

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    apu's on the trucks?do you run all 48?dry van or reefer?
     
  8. BigBadBill

    BigBadBill Bullishly Optimistic

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    The two trucks that I have set aside now do not have APUs. We are working on a deal that we can finance APUs for our drivers. However, this is not like we buy the trucks and have them sitting hear waiting for a driver. When we find the right driver and complete all the approval process, we see what trucks are available in the range. It is possible that it may take a few weeks to get the right truck once we approve a driver.

    What a driver runs is up to them. I have found running all 48 is not that profitable but it is the drivers gig to run what they want.

    We do van and flatbed. You need flatbed experience and some capital to start if you want to run flatbed. After 6-12 months if you want to run flatbed we evaluate the driver at that stage. But we are not a flatbed training company so we need to be VERY comfortable that you will be able to learn the ropes of the flatbed game. I do have a couple sources that you can take a class.
     
  9. revelation1911

    revelation1911 Heavy Load Member

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    Are you not worried that some of these drivers you help may try and cut into your customer base? There was a guy out in Ca. that did something similar with hotshots. A couple bad drivers and his insurance and rating was done for. he eventually closed up in about two years.
     
  10. DrtyDiesel

    DrtyDiesel Road Train Member

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    I wish y'all the best of luck. It seems BBB is doing something great. Helping people get started into becoming an o/o and a business partner.

    I want to be an o/o extremely bad, but I got a lot more time to put in before that'll happen. This seems like a great idea though.

    Ethan
     
    BigBadBill and Jarhed1964 Thank this.
  11. gentran

    gentran Light Load Member

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    Hey BBB, what do you think of the 95 corridor around richmond, va with van freight? I live near the piers and naval bases around norfolk and see that toady there are about 2k van loads on its within 300 miles of richmond. I've also been on the landstar loadboard (via webex demo) and seen that there are alot of van loads listed at 2.50 or above. I'm interested in partnering and gettin after the good freight. Appreciate your insight and postings.:biggrin_25514:
     
    123456 Thanks this.
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