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

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

  1. Atlanta trucker

    Atlanta trucker Road Train Member

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    I worked at both. Knight was much tighter controlled then Swift. Both companies are bad but Knight would screw you any which way they could , and then some more after that.
     
  2. Arod1098

    Arod1098 Bobtail Member

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    OOIDA is a complete joke!
     
  3. evofd

    evofd Bobtail Member

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    The truck doesn't know how it's being paid for. Leasing vs. "Regular" financing are to sides of the same coin if you're are planning on keeping the truck. In the end you need to make sure you READ the contract and UNDERSTAND what you're getting into.
    For those of you saying you're NOT an OO if you lease is just not accurate. I've seen "regular" financing contracts as bad or worse than leases.
    You don't have to lease from the "Fleet" program. You can lease from a regular bank, or you can "regular" (Installment) finance, you're still making payments AND you still don't "OWN" the truck until ALL payments are made no matter how you finance. [Great credit matters.]
    Make sure your lease is closed-end, you know the cap cost and cap reduction, any other fees applied and especially the money factor (aka rate). In the end, as the old saying goes, "Beggers can't be choosers." Work the deal that makes the most sense for you. Good luck and stay safe.
     
  4. TruckernFl

    TruckernFl Light Load Member

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    I just made a video with Super Ego and showed my paycheck stubs to show the truth. Purchase program, 3000 dollars first seven days on the road. This week I am on track to make 5000 dollars. If that is not enough with a brand new truck I don't know what is. Here is the video:

     
  5. DaTrucker46

    DaTrucker46 Bobtail Member

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    Ok
     
  6. markealy

    markealy Road Train Member

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    How many miles did you run 4 5k
     
  7. mqc1298

    mqc1298 Light Load Member

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    Oh how many miles run??
     
  8. chimbotano

    chimbotano Heavy Load Member

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  9. TruckernFl

    TruckernFl Light Load Member

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    I don't remember back then, I had a dry van. I have reefer now and get 3 dollars to 7 a mile on all my loads. After truck payment and all bills are taken out I was getting 2 dollars a mile profit. Now diesel has went threw the roof so along with any other truck it has dampen some
     
  10. markealy

    markealy Road Train Member

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    Where and name of video