The end of zero down

Discussion in 'Lease Purchase Trucking Forum' started by bigdad7, Aug 22, 2017.

  1. bigdad7

    bigdad7 Road Train Member

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    I think this is a great sign of things to come got a message from my company saying as of September quality is going to require a 5000 down payment.....full disclosure I put 5k down on a purchase at a small dealership but have never liked the rent a center mindset at quality put some skin in the game if you want to play
     
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  3. tnevin225

    tnevin225 Road Train Member

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    The problem is bigdad7 to many wanting in the game got no skin and have been buffaloed into believing thy can make it without any.
     
  4. Western flyer

    Western flyer Road Train Member

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    The company they lease onto will front them the
    5 grand,then take it out of their first four settlements.
    They'll be out of business before they ever see
    A positive paycheck.
    Sounds crazy but you would still have drivers
    Lined up around the to sign up for it.
     
    Knucklehead Thanks this.
  5. bigdad7

    bigdad7 Road Train Member

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    I don,t know if I agree from my experience the last two companies I have been at didn't front anything......in fact the msg from my company was a straight up admonishion to plan for your next move save money etc ....I think it will be interesting with turnover what it is how they will replenish thier ranks without all the free trucks and will my value go up as someone who has outside financing etc
     
  6. x1Heavy

    x1Heavy Road Train Member

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    There is no such thing as "Free trucks."

    When I bought my truck the first payment of that rig was due in three weeks. My next two nuts to solve is fuel for the week and get going on a load. If there was money to be made now was to do it. Or not at all.

    (Why did I not continue?) Well there was discrimination from the manager of the school side of the outfit due to my impairment in hearing. Lucky for me he went ahead and tore everything up. He was still of the school that deaf do not drive (This happened until the late 60's) and much less become successful O/O.

    Im over it. But I type this story because I had her for about a week and it was interesting to say the least. I probably would have been successful. That was a good tractor too. 425 with a rockwell 9 on a set of 3.82 rears I think it was, a Midroof 120. 180K on the clock somewhere around there. Nothing like the million miles in 5 years kind of deals we do these days...

    If you go and buy something, zero down is very dangerous. If you put something down, then you will be more inclined to stay in and fight the challenges that come your way.
     
  7. bigdad7

    bigdad7 Road Train Member

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    I think by free I am following the rent to own mentality ....I put nothing down I can walk away with no consequences so in turn I don't have to think it through or don't think there is a risk so I can take a crappy deal....in turn I also hope and think even as small as an investment as 5000 is it will be enough to keep a lot of people out of this who should never be in it in the first place ...just my two cents
     
  8. Knucklehead

    Knucklehead Road Train Member

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    Well, they have no skin in the game where it's unlikely that anyone will ever own one of their overpriced trucks. If you're going to put something down, at least go with a company that is somewhat reasonable with their payments, and you can take the truck to get fixed where you choose.
     
  9. poppapump1332

    poppapump1332 Road Train Member

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    whoever puts 5000 g's down for a overpriced quality truck that most likely will never come close to owning is a certain kind of special!795 week for 7 years man that seems like a great deal,smh
     
    Ozzy1 and The Big T Thank this.
  10. bigdad7

    bigdad7 Road Train Member

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    I see this ending with celladon filing bk in the next year they were already losing Thier ASSets as the case may be
     
  11. The Big T

    The Big T Medium Load Member

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    Especially whereas Quality depends on people with no money or credit. They'll go out of business waiting for people with money and good credit to go there to purchase rigs. Honestly, it's the perfect place for people with nothing and nothing to lose. Straying from their formula isn't gonna work in my eyes. The reputation is already etched in stone. I just don't see a new customer base running to Quality to buy. My opinion
     
    poppapump1332 Thanks this.
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