The Feds Just Announced All Lease Purchase Deals Should Be Banned

I’ve paid someone 3% to use their authority and did what I wanted. I’ve given up 20% to have access to someone’s freight. And now I’m simply paid for the use of my truck. As long as there’s no force dispatch and I can pick where I go and I can decide if I want to work and how much time I take off that’s a far cry from being an employee that’s told what type of shoes they have to wear.

I’ve been very vocal about lease purchase programs and have said many times in many different threads here that your banker shouldn’t be the one giving you your loads. And anyone that can do simple math can see that $1500 a week to rent a truck is going to be a tough go. But many have made poor choices in the past and are attracted to the idea of big money being their own boss. Even people who have failed at multiple leases. Or have gone back to the same company and tried again.

I’ve never laid eyes on a lease purchase contract, but it would seem like charges and holdbacks would have to be spelled out clearly to avoid lawsuits. At least every contract I’ve had to simply lease on everything was spelled out cut and dry. If nothing is truly hidden and the company says they’re going to kick you in the shins every week then the contractor bears some responsibility when their shins start to hurt.

 

I would wager a good percentage of the people who do a L/P never look at the entire contract. Or gloss over it, when being shown where to sign.

 

That’s probably how it goes for a lot of things that will harm a person’s financial future.

That’s why dealers ask people what they want their payment to be and that’s how people end up with 7 year car notes. That’s how people end up with 30% apr on their credit card balance. Or how people end up making weekly payments on their living room set.

 

Seatbelt laws exist because we don't live in a perfect world. It's an attempt to save someone from themselves who may be speeding, drink or drug driving because ? However they also save the innocent just driving home with the family and is hit by the DD. Furthermore tyres blow out, animals cross roads, roads change after weather, diesel can be spilt on corners. There are many scenarios where a seat belt can save people from natural selection, when they had no deal with it.

Liquor, Cigarettes, fast food though all arguably bad, it's a choice however, no one randomly forces it onto you.

Perhaps like starting a family, building a house, buying a boat, truck, or car, common sense is not common as you don't know what you don't know. Family structures after the introduction of the nuclear family are quite abstract these days. So handing down of knowledge is becoming scarcer. People nowadays seem more focused on being entertained via their phones as a form of learning life skills.

Relationships, parenthood, life planning and management, protecting self esteem while practicing respect for themselves and others are all human skills I would be happy to be taught in schools. Parents and society are failing in this department so perhaps Government intervention is required. Financial planning against scrupulous financial sharks should be a given for a prosperous nation. But as others have said that's not going to happen. Humans are emotional beings, and when it suits they find it hard to rationalise differently. Think in those times even the negative can become convinced of better times if they can get a helping hand up. In my view if the Gov have done a review and has concluded Lease-Purchase are causing more harm then good, than its a bit like seat belts.

 

It might help the industry but saving people from themselves hurts everyone in every industry and every walk of life. I'm not looking out for me (nor the industry) per se but the nation as a whole. I totally think a person should have the right to kill himself with herion. It's nature's way of removing the weak from the gene pool. This coddling and protecting the weak is one of the largest contributors to the collapse of Western society.

 

Ok. But are they allowed to steal to support their habit? Are they allowed to #### on the streets because they are homeless. Are they allowed to turn tricks or pimp out their children to get a fix?

It’s not nearly as simplistic as they are simply killing themselves. And it’s most definitely not helping society. So it’s not saving them from themselves. It’s saving us from them.

It’s ok though. I ain’t changing y’all’s opinion on it and I haven’t seen an argument yet that will change mine.

 

In a lot of places the answer to all your questions in the first paragraph is yes.

 

I guess I should have rephrased it. Is it OK if they do those things. But you’re a bright guy and knew what I was saying.

 

I feel this thread has devolved into a political philosophy discussion instead of the original topic. I'm out. Peace.

 

I couldn’t resist that one. You left the door wide open.