After reading a lot of the threads on here, I was thinking of an alternative. Please tell me if the leases out there allow for this:
Can you sign a lease purchase contract with a company, then a few months later when you've saved up some money or increased your credit or whatever got you into the lease in the first place, pay off the lease with a private loan and take the truck anywhere you want?
Kinda seems like a way to backdoor the lease to serve your own purposes. With the loss of my truck, I'm open to ideas of how to get into a truck quickly, then transfer it. Seemed like this would be an easy way to get back on the road.
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Transferring your lease, is it possible?
Discussion in 'Lease Purchase Trucking Forum' started by Michael H, Nov 24, 2020.
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U will have to read the terms of the contract. If you want to use a loan why not just put down on a new rig?
alds Thanks this. -
Greatwide lets you leave anytime you want. Take the truck and the debt with you.
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John Christner Trucking
If you complete the lease, you buy the truck for $1.00 (one dollar) -
With the loss of your truck ?
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OP doesn't have the funds to do a inframe on his truck. -
Schneider.
you could lease from them and go anywhere, as long as they got their money each week. -
I see a lot of this in general , living your life on payments. Must make payment must have credit rating must must mustalds and daf105paccar Thank this. -
Actually, I've lived my life off a cash basis. I've bought everything with cash, including my truck and trailer...and all my vehicles, and home and properties, etc., etc.
In my case, I had just spent $20k on tires & repairs. I had just replaced the turbo on the truck and it didn't make it out of the driveway from the dealer-blown cylinder. The inframe was $35k. After the twenty I spent during the two weeks prior, I was tapped out of cash for that kind of expense.
The consequences of not using credit and having payments is that I have no significant credit history by which to get a loan for the inframe. Sometimes doing the right thing just doesn't work out in your favor.
I made this post because I was thinking of my situation and other drivers who may be looking for ways around their leases. We all know that lease purchase=fleece purchase. I was brainstorming to see if there was a work-around for those guys stuck in a lease, or looking to startup. That was the purpose of this thread, not trying to get bashed by out-of-context trolls. I was hoping for some positive thoughts to help some guys out. Let's stick to that, shall we?
(Yes, I know, I'm sounding a bit crusty. I've gotten tired of all the crap replies to people's posts on here lately. You try to spark a decent conversation or ask a question, and all you get is smart-ace remarks and side-bars that don't have anything to do with answering the original question.)ibcalm19 and kemosabi49 Thank this.
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