Walk Away LP; just for quick $$$$ not to own???

Discussion in 'Lease Purchase Trucking Forum' started by FreezingHot32, Jan 20, 2020.

  1. FreezingHot32

    FreezingHot32 Bobtail Member

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    Just seeking opinions; I know LP isn't in my interest for trying to own the truck, but to run and profit more in pocket is it still a bad deal???????
     
  2. x1Heavy

    x1Heavy Road Train Member

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    Well, if a company wants to contract you to buying a tractor and you cannot profit under those terms then You are out of that business.

    Being a company driver in this day and age is not half bad until you stack enough capital (Money) to withstand repairs, fuel and months of upcoming business expeneses and taxes etc.

    If you wanted to walk away just be a company driver.
     
  3. FreezingHot32

    FreezingHot32 Bobtail Member

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    Feb 15, 2018
    Upstate, SC
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    I was also of thinking of going back company to stack, but from advertisement lol it seems like its more to your pocket in LP??
     
  4. x1Heavy

    x1Heavy Road Train Member

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    White County, Arkansas
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    No its not. It seems more. Just stay with companies that salary a minimum of say 1200 a week if not more. That will give you a good income to stack. In a few years if you are careful enough you might buy a tractor outright cash. But for right now the USA economy is not supporting trucking or rail like they used to in the boom of 2018.

    I don't know how long this particular bad stretch will last.
     
    Cabinover101 Thanks this.
  5. JonJon78

    JonJon78 Road Train Member

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    LOL do you really think these companies are just giving folks and line your pockets with money? Like a get rich quick scheme?
     
  6. Eddiec

    Eddiec Heavy Load Member

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    Only if you are the reason you succeed or fail. Meaning - You pick and choose where you go, when you go and you get a percentage of the Line haul revenue and 100% of the Fuel Surcharge.
     
  7. Cabinover101

    Cabinover101 Medium Load Member

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    Yeah, it sounds like LP ~ O/O make a whole lot more money, ...and they do, BUT they also have alot more expenses. I think the op needs to research all of the real expenses of a LP if they haven't already
     
    drvrtech77 and bzinger Thank this.
  8. darknessesedge

    darknessesedge Medium Load Member

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    if you are asking these questions, your not ready to own a truck
     
    Deere hunter Thanks this.
  9. FreezingHot32

    FreezingHot32 Bobtail Member

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    Feb 15, 2018
    Upstate, SC
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    explain??
     
  10. zaroba

    zaroba Medium Load Member

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    South East PA
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    Certai ly can profit more by leasing, and many companies that do leasing have walk away leases. Often have more freedom too, like choosing your own route, where you fuel, and ability to refuse loads.

    But you also have more expenses.
    You are responsible for the fuel cost, it normally gets deducted from your weekly settlements. You are responsible for the maintenance such as getting PMs done. You are responsible for any non-warrenty repairs (most lease companys have trucks under warrenty and lease them to drivers until the warrenty expires or until the truck is x years old before allowing the current leaser to purchase it).

    Those last two things are the biggies.
    Fuel is simple, you run, you use fuel, you buy fuel. If you aren't working, you aren't using fuel.
    But the maintenance and repairs always need money. Tires, windshields, APU, belts, bunk heater, and many other things aren't covered under most warranties. Towing might not be covered either and warrenty service normally HAS to be done at a dealer shop.

    Lease drivers often have preferential treatment when it comes to hometime but you still have a weekly lease payment when on hometime.

    A lot of people fail when it comes to leasing. They get picky with loads and want a lot of hometime so end up not being able to run enough to earn a profit. But you can succeed by just constantly working and not taking excessive hometime. However this all depends on your non trucking expenses like mortgage, supporting a family, etc.
     
    Last edited: Jan 20, 2020
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