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

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

  1. Stephenanthony

    Stephenanthony Bobtail Member

    8
    3
    Feb 16, 2017
    0
    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.
     
    bigbyrc Thanks this.
  2. Tyrone456

    Tyrone456 Light Load Member

    55
    11
    Apr 22, 2015
    0
    Who are you leasing from
     
  3. Stephenanthony

    Stephenanthony Bobtail Member

    8
    3
    Feb 16, 2017
    0
    Wasatch leasing through central freight lines.
     
    bigbyrc Thanks this.
  4. skytrash

    skytrash Bobtail Member

    14
    2
    Apr 6, 2017
    0
    does central allow lease purchase to take pets?
     
  5. Stephenanthony

    Stephenanthony Bobtail Member

    8
    3
    Feb 16, 2017
    0
    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.
     
  6. skytrash

    skytrash Bobtail Member

    14
    2
    Apr 6, 2017
    0
    ok, thanks.
    how much is the buy out fee?
     
  7. Stephenanthony

    Stephenanthony Bobtail Member

    8
    3
    Feb 16, 2017
    0
    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.
     
  8. skytrash

    skytrash Bobtail Member

    14
    2
    Apr 6, 2017
    0
    What do you mean..... "becoming a driving school" ?
     
  9. chilibowl

    chilibowl Light Load Member

    70
    55
    Jun 28, 2013
    El Paso Texas
    0
    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"
     
  • Draft saved Draft deleted