Walk-away lease

Discussion in 'Lease Purchase Trucking Forum' started by Badmon, Feb 18, 2019.

  1. Badmon

    Badmon Heavy Load Member

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    Got a buddy in training at a company that shall remain nameless. The moment he finishes up training he intends on going into a 1-year (I believe) walk-away lease through them, not lease-purchase. I can't remember all the specifics, but long story short according to him its a win/win. Frankly, the way he describes it he simply can't lose. He'd be making #### near, if not right around owner op pay, and at any time within that year he can turn the keys in and walk away no strings attached. Also from what I understand if he finishes the lease and turns the truck back in in good/great condition they'll cut him a nice check. Said his trainer will get 5 figures for turning his truck back in in good shape. Company covers practically everything except fuel I think and pretty much just takes it out of his check. I know, I know I sound stupid typing this because none of it adds up or makes the slightest bit of sense, but my friend sounded so convinced that he has it all figured out. I tried to tell him to reconsider and do a bit more research, but his trainer's doing it and looks successful from the outside looking in. Pretty sure he's about made his mind up already and he ain't hearing it. Am I trippin? Or is he trippin?

    PS I do also know that he hasn't even gotten all the details himself on what he's responsible for, what the company's responsible for, etc. I think the fact his trainer is so young and leaving the company to buy his own rig was enough for him to be confident that nothing can go wrong
     
    Last edited: Feb 18, 2019
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  3. The Big T

    The Big T Medium Load Member

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    Without the company name, wether or not he's in control of picking his own freight, what kind of freight he's pulling, and whether or not he's going to be a trainer, whether or not he'll basically live in the truck and not go home.....there are just too many unknown factors to give an educated opinion. However, 9 times out of 10...its a failure
     
  4. The Big T

    The Big T Medium Load Member

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    Plus a #### load of other factors... Type and age of equipment, driving habits, knowledge of freight and lanes, business savvy, the lease itself, emergency money, etc, etc...
     
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  5. Cat sdp

    Cat sdp . .

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    Wait till he walks away and gets a $7K bill for repairs needed on the truck before they give to the next guy......
     
  6. Brandt

    Brandt Road Train Member

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    It's a walk away lease probably because they charge so much for the lease. They actually hope he fails and even kinda set it up for that. Remember they control the freight. Why not just go buy his own truck ? They know why and so do we, he doesn't have they money. So they will lease him a truck with very high payments. If he fails they can just lease the same truck to another new guy who has it all figured out.

    Everyone is all in for trucking when they are training. Wait to you run the Northeast and pay all the tolls and pay to park. Go to crappy places to load and unload.

    The big pay out of they complete the lease is simply getting back their own money from over paying on the lease usually. If the new lease driver fails or quits guess who keeps all that money. So they have a good interest in someone failing.
     
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  7. Badmon

    Badmon Heavy Load Member

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    Flatbed, will pick his own freight, he's considering becoming a trainer once he meets the requirements, and he likes to be home every couple weeks for just a couple days thats fairly important to him. I'm just hoping he won't make a decision he will regret because I really don't want to have to hit him with the "I told ya so" i would prefer him not learn the hard way but if he ultimately insists...
     
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  8. Milr72

    Milr72 Medium Load Member

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    You mean next "SUCKER"!
     
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  9. The Big T

    The Big T Medium Load Member

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    Sounds like CRST
     
    just_sayin Thanks this.
  10. The Big T

    The Big T Medium Load Member

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    Or CRST malone rather
     
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