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

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

  1. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    They are not trying to sell you a truck. They will "lease" you the truck with you thinking you might own it at some point. What is really happening is you are buying the company a truck and buying yourself a job.
     
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  3. inandoutoftrouble

    inandoutoftrouble Road Train Member

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    well put

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

    MysticHZ Road Train Member

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    Actually it's truck stop counter blather and completely ingnorant of the facts. Articulate ignorance, is still ignorance.
     
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  5. spyder7723

    spyder7723 Road Train Member

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    In 99 cases its rather accurate. All those prime/cr england type lease purchases that pay 90 cpm plus a piddlly wink fsc equate to a guy getting a smaller pay package. Workmans comp, matching 401k, group health care costs, employers share of social security tax. These have value and must be factored in to the over all income discussion.
     
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  6. DSK333

    DSK333 Road Train Member

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    Is it? Tell me; what is the average NET revenue generated by the average LP guy at a mega?
     
  7. DSK333

    DSK333 Road Train Member

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    I disagree. Megas train drivers to avoid potential litigation. They're trained to make the mega as safe as possible. They also teach a driver very little about the business in regards to rates, negotiations, permits, plates, IFTA etc etc. Their job isn't to train a driver to run a business. Their only goal and purpose is to train that driver to make as much revenue for the mega as possible yet keep just enough for the sucker behind the wheel. Just watch some videos of the lease guys on YouTube. They're all idiots.
     
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  8. thelinedriver

    thelinedriver Bobtail Member

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    if you got a loan to buy a truck the bank owns you
     
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  9. spyder7723

    spyder7723 Road Train Member

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    I'm a firm believer in the proverb The borrower is slave to the lender. However something can be said about using other people money to make money for you. For example buying an affordable home with a low interest mortgage vs renting.
     
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  10. thelinedriver

    thelinedriver Bobtail Member

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    never been in debt and Im 45 now I never will own my home and Im ok with that. My credit score is 00 cause they dont know I excist and Im doubly ok with that
     
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  11. Rusty Hambone

    Rusty Hambone Bobtail Member

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    I might be an Idiot, but I want to be an Idiot with some change in my pocket. So I was considering going LP with Prime Inc, Im currently a company driver, and would like some advice from current / former drivers who have leased. Dont knock it until you try it! I was thinking either Prime or Wiltrans, which pulls Prime loads.
     
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