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

It pays to be patient, take the time to get things checked out, being in a hurry can be costly

I have seen loan mountain videos and they suggest folks to take the truck and get it checked out.

Why anyone would spend such a large amount of money and not be diligent about their purchase is beyond me.

 

A while back I was making delivery and Celadon driver comes over to me saying how great he's got it, etc etc with Celadon lease-purchase and then I start asking him how much he pays for truck etc and turns out I make MORE money with my current company being a company driver than he's doing his lease-purchase.
Lease purchase-just say no to it!

 

I make more and work less, out two weeks home one and have enough on my Comdata to pay off my truck, all depends on where you l/p

 

While I agree with the spirit of what you are saying, a place like loan mountain, isn't like leasing from a big carrier. Loan mountain is much more like a regular loan,but tailored for those with b credit.

 

Yeah, but it does not pay the bills at home, or support a family. A driver should do a lot of research, and investigating into a companies Lease Purchase prior to signing. Have a Lawyer hear what the company had too say, and they can look into the company's track record.

 

Never get involved in a lease purchase. Unless you like paying all the expenses for a truck you will never own, and make sure to never get sucked in by their fancy words, and over exaggerated B.S they feed . You will never win. Lease purchase is fancy wording of a company to say, you feel like an O/O, have all the expenses, no paycheck, but in reality. You are just cutting our overhead expenses and we suckered you too. Many of the trucks have been paid for by two or three others before you came along.

 

Typical naysayer whos never even tried it. There are some decent lease purchase programs that do work for the driver.

 

Been there done that with two different companies. J.C.T and Melton Truck Lines. Have been in this business all my life. Have seen many drivers get the shaft. Look at Arrow Trucking. Prime example of screwing drivers. So as to the naysayer comment. Maybe one should research other forum comments before casting stones.

 

For anyone that says how some of these company LP programs work for the driver, I'll buy a steak dinner to whomever can show just one, that is financially better than going to a bank or manufacturer lender(daimler financial, paccar finance company, etc).

 

Yet more people that have decided that just because they failed at L/P that there is no way to succeed at it. Typical of what is wrong with this country, Its always someone else's fault. So tell me, why is it I have enough in savings to pay off my last few thousand on my truck, am home at least a week a month and live in one of the most expensive areas in the US? #### near lost the house to the bank when I was a company driver, good thing I don't believe everything I read I guess.