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

Do you kno some good smaller companies

 

do you kno any good small company's?

 

Read this entire thread and one question still hasn't been asked or answered. (yes, I'm an idiot. Got that one) but once you make the plunge, and I'm still afloat (barely) after three months around the holidays, what's the correct way to get out of it? I don't really need my credit. I have a house, vehicle, and the ability to make money elsewhere. I just did this because I love driving. Is there a safe way to exit a lease? Good weeks I do well. But 2,000 mile weeks I might as well be flipping burgers back home because I barely do more than break even. At least I'd be scraping by and havin "voluntary" sex occasionally...

 

Exactly!!! Dont EVER DO IT!!!!!

 

I recently had a lease purchase offered to me by DAS (Dependable Auto Shippers). After reading all these posts, I think I'm going to forget about it and figure out something else. Don't need more problems, I know that.

Thanks

 

Man this sounds like Great advice. The fact that you put out some numbers makes it a lot more believable.. (shockingly truckers lie). The guy above you grossed 81k a year.. and is upset he didnt make money. Sounds like he's running maybe 65k miles a year.. it's shocking he wasnt losing a grand a week.
I ran with an l/p for a company that was great to its company drivers but seemed bent on ripping off l/p operators in little ways. Hard to figure out honestly because l/p DID get first call on loads, lots of dedicated accounts etc. The one thing that became clear to me quickly: If you cannot run a business or manage your own finances (youre making 50+k a year as a co driver.. if you dont have money in the bank and all your bills paid you cannot handle your money) then do NOT become an l/p or oo.

I'm going to l/p for the freedom. The one thing i've always hated about trucking is having some random dweeb off the street they told was going to be a dispatcher control my life. I do not expect to get rich. In fact if i get a nicer truck i expect to make 35k. If i get a cheap one i expect more. I'm hoping to find a company that will let you run outside them when they dont have loads. Hopefully i can find that.

 

I lease and my numbers are about the same as Wfields1966. only difference i grossed 152,000. Not all leases are treated the same do your research. alot of drivers get pocket rich and dont plan for a bad week then they complain they didnt make it

 

Right, do your research, read the majority of experiences out there, talk and ask questions. The blood sucking executives of these companies aren't going to do anything without lining their own pockets first and foremost, and then there isn't too much left for you and your worn out truck!

I was a dispatcher for Morgan Southern in Conley, GA for several years, and they had a lease purchase gig. Although many attempted, there was only one person that I knew about that made it to the end of the lease, and he ended up with a day-cab that I wouldn't even consider driving, and he was about to sink serious money (that he didn't have) into the truck because it was tired; because he started the lease with 500k miles on the truck.

There must be some capital involved to start and run a business; if a person is borrowing everything to start and run a business, it is setting itself up for failure, and will generally do so within the 1st year.

 

there are some good finance companies out there. I've heard that there has been a ton of regulatory push for the carriers to start pushing guys to be owner operators. If that happens, leasing sure beats trying to hastle with getting turned down for finanicing 1000 xs. Check out www.crosscountryleasing.com . I have a buddy who has had good luck w/ them.

 

Lease ,train, drive, team! Big money, big money,big money !!! Lol, lol, lol