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

doc are you a traveling man?

 

years ago I got the offer for a lease program,they had heard all the excuses to avoid the deal. So i said i was under bankruptcy program to pay back some old debts from a divorce{not really}. And under those bankruptcy terms i was not to make any purchases or enter any agreement without prior attorney approval. I said it would take me 3 yrs under bankruptcy to pay back debts. and after talking to attorney about lease deal he stricty forbids it.

None of this was the case and i figured they wouldnt ask for proof or legally couldnt,or spend bucks to research or by law couldnt hold a job over my head because of credit problems that I had addressed.

Immediate end to that company hassling me to lease. And they went out of the way to not ask me again. they would require us to be at a few meetings a yr to discuss the lease program.....in thier words "your that bankruptcy guy who cant buy anything cuz of a ex wife or something right?" sorry we cant include you in this program.

Yep I lied but I lie to telemarketers for some deal they wanna sell to me...i figured it was all the same thing. since the word "NO" really meant maybe to them.

 

I have talked to several Maverick IC drivers and all are doing well with the Lease program.
Maverick will not even talk to you unless you have a minimum 1 year experience.
They have never brought it up to me....they do not push it like some companies.

 

I am thinking of leasing from an outside company called get a sleeper today and they seem to have a decent deal ($4000 down $1290 a month for 18 months on a 2002 FLC120 With 500k and if I make payments on time for 6 months they will drop $600 off my monthly payment for remainder of lease, and yes there is a buyout at end they say its wholesale market value at end of lease) any one got info this company

 

maybe thats the only way some people can get a truck

 

JB Hunt has put their loads on the flatbeds of rail cars. They don't need a tractor to pull them OTR and they can send much more for much less, hence Intermodal is booming.

 

( MY HUSBAND CALL's LEASE PURCHASE DRIVER's) GLORIFIED COMPANY
DRIVERS, thinking that taking home $1000 a wk is good money, forgetting about taxes and medical benefits.....

 

Guys, this is my first post. I am 62 now and sitting on my butt but not in a truck. Time and again over my 30+ years driving I heard about guys "leasing" trucks getting the short end of the stick - assuming they got ANY piece of the stick. Believe me when I tell you they NEVER got the carrot. Rather than belabor this, I would simply like to suggest you LISTEN to what these other drivers say.

Leasing is never the way to go. If you want to be an independent, you need to understand this is a BUSINESS. And one of the hardest to make money in UNLESS you are OK with living on the road.

Being a "truck driver" is not the same. Being an OO or lessee you are now a business person and this is a huge game changer. Difference between the two? Simple. As an OO -Y*O*U- are the BOSS. As a company driver OR lessee, you are an employee.

Bottom line: Unless you are prepared to act like a business person and suffer the consequences of ownership - and there will be plenty of those - get a JOB. I tell you this as a) a company driver; b) an owner-operator; c) someone who had the good sense to really READ the lease agreement and bring the tractor/trailer BACK to the yard within the 48-hour period I had in that lease.

Funny thing that prompted it. These idiots gave ma a floor load of detergent - 44,000# - to HAND unload. When I saw that I went to the truck stop and read the ENTIRE lease and realized this was not a good deal. I was glad to give them back their soap.

 

what about leasing from a non trucking company (lone mountain,Get a sleeper today,and others like them) You are so right I would never lease from the same company I had to hall for but with the above mentioned companies you can run on your own authority, tags and so on, or run under someone elses.

 

There is no such thing as a "down payment" on a lease. Giving them $4,000 does not give you any equity in that truck. What you are doing is helping them finance/buy that truck you will then be paying for, nothing else.

NEVER lease a well used truck. You are going to be liable for all the accumulated wear and tear on an old truck that has yet to rear it's ugly head.

A couple weeks ago I was at a local dealer that also has a lease/rental division. I figured what the heck I'll see what they have to say. I didn't ask, but was told anyways that they wouldn't do a full service lease on a used truck. Why do think that is? They are charging about $.13/mile for maintenance on a full service lease. And they don't want anything to do with an old truck because they might lose their butts on it. So why would anybody want to take that chance on something they don't have any ownership in.