The odds are in favor of the house

Nobody has to stick their finger in an energized light socket to know it's a dumb thing to do.

 

Yeah, that's a credible analogy. If that's the analogy that most closely resembles your way of running a business you shouldn't.

 

L/P is a horrible idea. That's all there is to it. The proof is there that it's nothing more than a legal scam. You guys go lease purchase to your heart's content. The rest of us will try and warn the others to what it really is.

 

That's a fairly broad assumption that "most of you have never done it"....how would you know? You know each poster on this thread personally? I doubt it!

This forum is and always has been about discussing the pros and cons of all topics. So, for someone to come on here to try and get the differing opinions to get to a better decision on how to do something or where to go for something or for a better way to accomplish something...is what this forum (and others like it) is all about.

Example: What I can glean from your post, is a high probability that you are a new L/P, and perfectly content with what you're getting as far as pay in your capacity. Check back after tax season, and let us know how well you did for tax year 2015!

 

I've run many successful businesses, including being an O/O and running a small fleet in oilfield/OD hauling. A L/P is *generally* a bad idea. Of course there are a few exceptions, but as was so succinctly posted above, if there was so much money to be made then none of these companies would have L/P... they're not in the business of charity.

Two fundamental truths, whether you like them or not. The first, as said, is that businesses are in the business of making profits. Period. If they can offload a bunch of the liability required to make that profit onto others, then they'll do it in a heartbeat.

The second fundamental truth is that it is a very bad idea to take on a bunch of liability, have no control and have your only customer control your business to the point of how much you can make, what many of your expenses are, etc.

 

Do you for a living just trot around and run people down when you don't even know them?

How about listing your credentials that makes you an expert in business finance and leasing?

 

That's all there is to it?

I worked about 9 months out of 12 last year. I made over $90,000 after all expenses excluding taxes. My truck averaged over a $1.90 per mile and I averaged .89 cpm profit to me.

I have posted weeks of screenshots showing my take home after expenses.

All with no real financial risk to me or my family.

 

So because banks aren't throwing out money for something, that means it's not a wise financial decision? ####. That's brilliant, it couldn't be that half the truckers on the road don't know enough about finance and business to run a balanced checking account could it?

Its risk vs. reward, you're starting a new business. Most don't start a new business when you're 60, you're protecting your retirement at that age - the risk is too great. Most don't start a business with 97% of your revenue going to costs, the reward is too slim for the risk.
Some will fail, don't take the risk if you don't like that, business isn't for you.

 

Good for you. I'm glad that you're one in a million. Every carnival barker needs their mark. And you have volunteered to be it. That's cool. But facts are facts and the majority of lease purchase deals are legal scams. Do you know why they push these scams on brand new drivers? Because they don't know any better, it's almost like a sure thing.

 

Somehow..I just have a hard time believing your statements. As an O/O maybe, but as a L/P nope!