Want to avoid getting burned by a lease-purchase agreement?

I lease a truck.I netted 48 grand last year.Took seventy days off last year.Last week,scanned 2900 miles,netted 1225 for the week.Hmmm,thats over 40 cents per mile,I got fleeced.And I could care less if I own the truck.And I have a walk away lease with no report to credit.I drive a brand new pete with120000 miles on it.At 200000 Ill turn it in and get a new one.Im feeling so taken advantaged of.Poor me,I should have listened to all you guys.LOL Heck the last 22 days ive netted 4400 dollars,and I think when I go back to the yard Ill take maybe 8 days off this time.Poor me.I was fleeced.

 

What's the difference in a lease/purchase and going to a dealer and putting down a huge sum of money.?....If you go to the dealer...they hold the lean on the rig...same as a company would though L/P....you have all the same expenses...tags, permits..insurance.. And if you find yourself with no company to lease your truck to...it sits till the dealer come and repo's it...turning your good credit in to #### credit....L/P with a good company and they could help you make it in a unsure world..without a huge sum of money down/// You never own any truck till you hold the title..No matter where you buy it from...

 

you are doing all that work for 40cpm????????
and you admit it yourself your not going to own the truck??

and you have to pay your all your own tax and ssi and such
nope you arnt getting fleeced--you are getting screwed--and very dry at that

 

....I figure it this way.....if you have to ask, you wouldn't understand. It's a matter of personal preference. Some guys like to ride a Honda...and others will only get on a Harley. Same thing here....some guys would rather "own" and have a bit of say in what and how they do things, while others are comfortable being a sheep.

 

I'm sorry but that statement is ridiculous. If someone is interested in leasing, how does one go about understanding, if you don't ask questions?

 

That's not what I'm saying. You learn by asking questions. I made the comment ...AIMED...at those that can't or won't try to understand about being an o/p. They state things like why worry about taxes and maintenance when you can drive for a company and have them worry about all the issues that goes with the truck. They'll dog you for making .40 or .50 cpm (after truck expenses) and they're making roughly the same without having to worry about the truck. That's where I'm going with it. The .40 or .50 cpm is off the top of my head. Don't go to the bank with it.

 

I gotcha now.

 

Good deal. I hate misunderstanding.

 

Well, not everyone pays 40 cpm, and since you would rather pay the bank, And pretend your different, that's up to you....YOUR TRUCK AIN'T YOUR TRUCK until you have the title...Most companies i have already looked at pay 90 cpm. Your are a L/O...#### nobody would drive for 40cpm and pay for everything... Hell Even I know that..... Lease/purchase means you own it when its paid for...same as the bank. 40 -50 cpm after truck expenses,,,isn't that the same as an O/O.... I'm the Harley guy...lol.... The truth is most guys who have been burned, did not get out the glasses and read the contract or did not finish the contract...And being leased to a good company is a steady income, paying for the truck and bringing home the bacon...Some guys like to pay the bank and feel like they have a say where and when they go...the truth is...if the truck sits as an O/O you loose money...you have to be leased to a company,,or stay on top of your loads from here to there, and pray you make truck payments too...Either way, until that truck is pay for, everyone is doing the same thing...Making ends meet...Some fill the contract and end up with a truck,,, and some don't...its that simple..

 

They also save all those payroll and SS taxes they don't have to pay because you aren't an employee, you're a contractor. If they pay health insurance for employee's that's another major savings. I used to run a restaurant, my added employee expenditures(health car and taxes mostly) was 43% of the employees pay. So that would mean that by turning a employee that makes 50k a year into a contractor the company saves 21.5k right off the top on health care and taxes.