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

I am doing a lease purchase now. I don't even have to stay with the company I am with. Just pay a buy out fee and take the truck to another carrier. Truck note will be deducted out of my bank account. I have a brand new 2018 cascadia. At the end of the four year lease I will have paid 124,500 for the lease. With a balance around 30,000. Retail this truck runs brand new 137,000 starting out. Price may vary in different markets. So I am paying about the same base price just higher interest.

 

Who are you leasing from

 

Wasatch leasing through central freight lines.

 

does central allow lease purchase to take pets?

 

Central has no control over that. But it is not a walk away lease. You would need to live within 50 miles of the terminal. But if things don't work out you can pay a buyout fee and take the truck to another carrier. At that point the weekly note will be drafted out of your bank account.

 

ok, thanks.
how much is the buy out fee?

 

Right now 2400 dollars plus what is remaining on the down payment. But if you have three years experience the real money would be in becoming a driving school.

 

What do you mean..... "becoming a driving school" ?

 

I just got ripped off by Israel Parra owner of EZP transportation. (I went to high school with the turd) In this last year I had one owner quit the business, so I went to work with an old dispatcher from another company. That company Platinum Logistics Team out of Chicago, has their main dispatch office based in Serbia. Yes I was being dispatched by a Serbian who never stepped foot in America. It was a boondoggle. So I'm exasperated with the whole working for others thing, maybe I should reconsider my stance on a lease purchase with US Express. Thank God for this site. Common sense just slapped me in the face.

"Keep in mind this question: If there was so much money to be made by owning a truck, why would the company be trying so hard to sell you theirs? LL"

 

Well said