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

Discussion in 'Lease Purchase Trucking Forum' started by rookietrucker, Dec 13, 2009.

  1. alghazi

    alghazi Road Train Member

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    This post is asinine.
     
  2. Bumper

    Bumper Road Train Member

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    USA truck went out of business? I must have missed that one.
     
  3. Zackm81

    Zackm81 Bobtail Member

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    If you finance anything you are not the owner until it's paid off. If you don't have a clear title or deed in your hand then you are basically renting to own with extra benefits as long as you provide insurance to protect the owner, the bank or finance company.
     
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  4. Zackm81

    Zackm81 Bobtail Member

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    If you want to lease purchase then do so with the goal of saving ALL the money after expenses, minus home bills, to buy a used truck outright from a dealer. You might have to buy an old one. Just set it to the side and rebuild it. This might take 2-3 years but at the end you will have practically a brand new truck. First thing you should do is forget about the escrow and save up to $10k yourself for the tool, the truck, you're leasing. I personally would never see the truck I'm leasing as MY truck. Most have 400-500k miles on them and by time you pay it off, if you even do so, it will be about that time to overhaul the engine. Which can go from $15k-$22k. In the end you will either sell it and start over or pay $70k for a $45k truck.
     
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  5. mqc1298

    mqc1298 Light Load Member

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    If we could get all these "you're fleece purchase" people to understand that's the goal.. Not all of us are 3rd generation truckers who had a truck passed down to us or live in areas where saving $1k/wk was easily done.. Although, we have some idiots who sign on the dotted line knowing the lease they chose is NEVER gonna work in their favor..
     
  6. jeff18

    jeff18 Light Load Member

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    until you have the title in hand you don't own a thing
    I could careless if Y pop u got a loan or put cashdown.
     
    inandoutoftrouble and mqc1298 Thank this.
  7. Jourayce

    Jourayce Light Load Member

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    Same thing goes for your personal vehicle or house, and basically anything you buy with a credit card. If you haven't finished paying for it then you don't own it right.
     
  8. Kentrucker

    Kentrucker Bobtail Member

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    That's how I see it...LP your house cars etc unless it's paid for..
     
  9. inandoutoftrouble

    inandoutoftrouble Road Train Member

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    I have a 2006 Mazda-3 with approximately 87,000 miles on it. I have had it for 10 years, since 2007. I bought it used, single owner, (17,400) miles on it. The owner kept it in excellent condition.
    By the GRACE OF GOD, it is fully paid off with all the insurance premiums up to date. Also, by the GRACE OF GOD, it is in excellent mechanical condition, along with the outside also looking good.
    It TRULY & GENUINELY a great feeling owning a car as this.
    All of my previous cars were absolute junk, quite often owing money on them.

    God bless every American and their families! God bless the U.S.A.!

    OTR & LTL - over the mountains - through the woods - coast to coast - sea to shining sea
    [​IMG]
    The OTR & LTL truck drivers of America are positively the driving force of our economy.
     
    Last edited: Apr 17, 2017
  10. Outcast Trucker

    Outcast Trucker Bobtail Member

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    I just got a call from USA Truck this past Wednesday ( day before yesterday) wanting me to go to work for them.
    I'm going with a different company.
     
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