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

The blind leading the blind; a trainer with 6 months experience teaching someone who just got out of school! I can't understand why when they show a snow storm on the news, why it is all of the major truck-load carriers in the ditch.

 

But back to the topic. If you go into any business venture with scared money or no money at all (no capital) you are surely going to fail. It takes money to make money!

 

I'd rather shovel bull**** out of bullwagons than lease purchase. Better money, home nights and always have a job. Lease purchase is a stupid way to do business.

Rules to plumbing
1 Everything runs downhill
2 The boss is always right.
3 Payday is on Friday.
4 Don't chew your fingernails.
Any Questions?

 

Interesting. Do you have any links or proof that the industry is inching towards more O/Os and less company drivers? And why? What would be the advantage of that especially for drivers?

 

All you have to do is look at the mega carriers fleets. The majority of their trucks are either IC or OO.

 

The advantage in the case of the big companies would be that they cut their costs to the IRS in employment taxes (social security match, etc), state payroll taxes, worker's comp and unemployment comp. They also would not have to pay for health insurance and the other employee benefits that are offered.

Advantage for drivers, I can't really think of many advantages with the deals the big companies offer. Those deals benefit the company, not the drivers.

 

Absolutely, if they are pushing for more O/Os along with lease operators you can rest assured will also try to implement forced dispatch. So you'll basically have company drivers driving their own equipment and paying for all the expenses while the company just skims the cream off the top and has no liabilities. If that is really the direction all the mega (and smaller) companies are going then heaven help us. It will be like the taxi cab industry a rolling sweat shop on wheels but with a much larger vehicle and much bigger risk-to the drivers of course.

 

You don't own the truck till you have the title in hand.............bank or no bank. Till the title is in your hand, your just leasing from the bank as well cause they purchased it for you to lease and make payments to them as well.

 

Slight correction: title in hand w/ no lien holder. Different states do it differently. In this state, you get the title, with the bank listed as the lien holder.

 

Good morning, I went to the company ( FFE) and leased a truck from them. I can prove it when I say " you can make it doing a lease". I'm making a really good profit and I'm in process of getting another truck and I already have a driver for it. I know someone is going to say. "I can't lease and pay a driver" and to those who say that could not be anymore wrong. Me and another guy ( He has 8 leased) have our business in order. There are company's who I refuse to lease from because they are making boat loads from the leasee. I went to Freightliner and priced a 2012 Cascadia with a DD15 Detroit spec 'd just like the company rig and its price was $117,000. Due to the EGR, DPF crap, I do not want to own the truck. I have a warrenty for the entire lease and I make a good profit and do not have to worry about a I frame at anytime. This day and time using a lease with drivers is a sound investment and to the nay Sayers, I can do what you can't !!!!