Think Its Time To Begin My Future

Wow man... What are they putting in the food at truck stops the past week or so? This is about the 4th or 5th post asking about lease purchase deals. In 3 years time how much money have you managed to save? Don;t waste your time and lose your money with any lease purchase deal. Do it the right way. Go find a good used truck with fuel economy specs and lease it on with a company paying percentage. $1.40 a mile is the pits. It doesn't work with $4 a gallon fuel, it didn't work with $3 a gallon fuel, nor $2 a gallon. I've been there in a paid for truck and I know. Some of the LP haters will say I just wasn't doing something right. I beg to differ. I know how to manage money and have been debt free many years.

 

I am laughing right now..not at this thread...because my thread wasn't asking about L/P...I asked info on the company or if a O/O would lease on with that type of company based on what they were offering owner operators. Instead I got reamed about L/P which isn't the normal lease purchase that most companies offer out there. It was through Main Street Leasing who contracted with 2 companies which one pays below standards by the mile and the other one was by percentage. So you answered my question % based is the way to go. Sorry if I stole the thread.

Now I don't know much about fuel efficient trucks, but I tend to agree with Rollin Coal about trying to find a used truck if you have a down payment and leasing on with a company that pays %. I have looked at so many companies that offer lease purchase, and man I am here to say...that with all the escrows involved when leasing, the big promises that they give, and sale you on how good things will be for you until you get out and start running to only find out that it was a lie. I have seen it time and time again..but the best suggestion I can give is to do a spreadsheet first, and figure up your payments, your fuel, your insurances, your plates, your permits, your maintenance, your self employment taxes, IFTA taxes, and supplies needed for the truck like Oil, windshield cleaner, wipers, radiator fluid, and etc. Once you have all of that figured in...then you will see how much overhead you will have when owning your own truck and how much revenue you will need to maintain it along with allowing yourself a fraction of profit to live off of. That is just my 2 cents worth.

 

What type of trucking do you want; van, reefer, flatbed, tanker? Decide & then spec. a truck for that.

 

your future begins in one minute from now every minute of your life
just depends what you do with it

 

What else do you know about trucks besides how to steer one? That alone IMHO is not enough experience to be successful. Hope and luck got Obama four years but it doesn't look like that's gonna continue.
Nobody has patience anymore. I drove 10 years before I bought one. And that included percentage pay and finding my own loads and doing repairs on truck. So after 10 years I had the successful experience. I just needed the title and the checks with my name on them.
If you think you can substitute TTR for experience... I don't know, maybe you can! But I doubt it.

 

When you find that "Major company with great leasing program" you let us know.

 

how can you be sure these companies that pay % are not taking off the top before paying you your % cut.

 

I don't think any any O/O who leases on with a company is going to know what the billed linehaul is unless they are in the office and see it. Most O/O who lease with a company is told what their take is off the linehaul and the fuel surcharge. The only way an O/O is going to know what they are going to make is if it is a contract that they have with a shipper that has set prices. This much I do know..is that companies that are offering .83-.93 cents per mile with .36-.40 cents per mile for fuel surcharge isn't going to make money...they will lose money.

Good point though Local. Much appreciate it.

 

The first company that I leased to put a copy of the invoice in my settlement. By law if you ask the carrier that you are leased to they have to show you the invoice.