The dilemma of lease purchase deal

All anyone considering a lease purchase has to do is ask......

If it's so good, why arent they keeping it for themselves?

 

Lease purchase deals are generally scams. A reasonably smart person with common sense would stay away from them, especially as a solo driver.
But there could be exceptions for teams.
I should clarify that Wifey and I are about to complete a lease purchase. I emphasize the word purchase here!
We've made comparable money to company teams, 55-65 cpm profit before personal taxes, while actually quickly paying off a brand new truck. The truck in question is a 17' Cascadia DD15.
We've always treated the truck as if it was our's as we always knew it would be some day.
We've had to chase miles on this deal but only average 5200 miles per week The company is paying us cpm. I do know that we should be chasing revenue, not miles, but that's how l/p deals work.
This company does actually have many l/p drivers that have completed purchases. Trust me, there was much research before we chose this company!
I'm no recruiter and do not currently recruit for this company.
They do offer incentives for current drivers recruiting new drivers, but I've only recommended this company to two other husband/wife teams as that is what we are.
We've made 60,000$ plus per year per driver here, before personal taxes. I can not emphasize enough that we earned that while we are about to own our truck!
This company has been very good to us!
There are new regulations in the company that go against our regulations. Suddenly the company is instituting driver facing cameras. This is a no-go for experienced drivers as we are! Particularly as we are almost done with our purchase. We've been told that we won't see such atrocities as our truck will be our's before these technologies can be fitted onto our truck.
I don't know that there are any current companies that won't subject new l/p operators to these new safety technologies, but if you are willing to be subject to these things, I know a company in Sapulpa, Ok that could be a perfect fit for you.
Of course all of this is subject to what our highest court has to say about independent contractors.

 

I should add, we never thought that we were owner/operators during this time. We knew what we were going in and that wouldn't change until we have registration in hand. Wouldn't have chosen this company without knowing we would have that document in a relatively short time.
So many mock those who are willing to sign a walk a way lease, but there are many whom have completed these deals and are now owner/operators.
How many of you who mock are still company drivers that will never be anymore than that. Nothing risked, nothing gained right.

 

All of those life long company drivers who are content, should just shut up on this subject!
There are company driver positions that are really great, and those in those positions should consider themselves fortunate and be content with their position.
But there are those that aspire for something else. Again, if you are a company driver that is happy in their position, shut up about others who choose a different path.

 

This thread makes me roll my eyes so hard.
I lease my truck. I average $2.54 per mile, all miles. My truck payment is $440 per week. My total weekly fixed costs including truck payment are less than $720 per week. My maintenance runs .14 cpm. Tires, brakes and emissions are included in that cost.

I run 4 to 5 weeks and take 10 to 14 days off. I am offered 1 to 10 loads at a time and there is no penalty if I refuse them all. I can choose from a load board if I don't like the offers.

Don't make blanket "lease's are all bad" statements. They aren't.

Stay away from the bad ones. Research and find the good ones.

 

Sounds like your lease is totally different.

You're more of an o/o with your own truck payment. Leased to a carrier.

It's not the same thing. So yes. They're all bad. Mostly.

 

No. I lease from my company. Same as any other lease.

 

I thought it was “How YOU look through other peoples eyes”

 

You are better off turning the truck in every three years anymore. Off warranty, get rid of it.