Transferring your lease, is it possible?

Discussion in 'Lease Purchase Trucking Forum' started by Michael H, Nov 24, 2020.

  1. Michael H

    Michael H Medium Load Member

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    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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  3. D.Tibbitt

    D.Tibbitt Road Train Member

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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.
  4. Chinatown

    Chinatown Road Train Member

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    Greatwide lets you leave anytime you want. Take the truck and the debt with you.
     
  5. Chinatown

    Chinatown Road Train Member

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  6. Oakland Raiders Forever

    Oakland Raiders Forever Light Load Member

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  7. daf105paccar

    daf105paccar Road Train Member

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    Another thread
    OP doesn't have the funds to do a inframe on his truck.
     
  8. Judge

    Judge Road Train Member

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    Schneider.

    you could lease from them and go anywhere, as long as they got their money each week.
     
  9. Oakland Raiders Forever

    Oakland Raiders Forever Light Load Member

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    We see a lot of this in trucking.
    I see a lot of this in general , living your life on payments. Must make payment must have credit rating must must must
     
    alds and daf105paccar Thank this.
  10. Michael H

    Michael H Medium Load Member

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    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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