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

This post is asinine.

 

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

 

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.

 

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.

 

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..

 

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.

 

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.

 

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

 

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

The OTR & LTL truck drivers of America are positively the driving force of our economy.

 

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.