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

You do business with people from Eastern Europe or India or the Middle East ,or any Chicago based trucking company you’re gonna get ripped off .
That’s their culture and it’s perfectly acceptable in their culture .

 

They are like the Ferengis in Star Trek.

 

Watched a u tube vid of a guy that was a L/O from what i could tell he was being pretty honest , transparent . He ran 11 months 1 month at home April , new baby . He was a trainer as well , his numbers were 233k gross operating expenses fuel , repairs , and lease payment 130k . Left him 103k b4 taxes but the kicker was he made like 17 or 18k extra as a trainer which is included in the 103k . So i reckon my point he didnt do that much better than company driver . Btw i believe he ran 121k miles .

 

I have found one exception to the rule. Jordan and his wife treated me very fairly when I drove for him several years ago.

 

my

Call it whatever you want, no I dont pull a van, but Its not very hard to make 4 to 5k a week, net. I know lots make more, and lots make less, thats with me doing usually 2600 miles average.

 

People often spread hate and blame foreign companies without looking at the contracts they sign. If you really want to give a company a chance and attend orientation, make sure to read the contracts carefully. Everything is written there, including all your rights and the company’s rights in specific situations.
Leasing is indeed challenging at the beginning because there are many expenses to cover, but remember, this could potentially be your truck in a few years, and you need to invest in it. I have one friend who bought 2 truck in past 5 years

 

He got hosed. I made 130k in 10 months as a company driver

 

Thanks.
Does anyone one know how long it takes to complete a payment for a truck in Kenan Advantage in present day today?

 

Reading this article really hit home for me because I almost fell into one of these lease-purchase traps myself. When I first started thinking about owning my own truck, the idea of “no credit check” and “no money down” sounded like a dream come true. I was eager to become my own boss and stop being “just” a company driver. But what I didn’t realize at the time was how much control I’d actually be giving up, not gaining.

Thankfully, before I signed anything, I did some digging and talked to a few drivers who had already been through the process. The stories they shared matched exactly what this article describes—guys working their tails off just to see negative paychecks week after week, stuck paying repair bills for a truck they didn’t even really own, and not being able to take it anywhere else if things didn’t work out with the company. Some of them even ended up with ruined credit and nothing to show for years of work.

That’s when I realized a lease-purchase agreement isn’t true ownership. You’re basically renting someone else’s truck while taking on all the risk and none of the real rewards. If the company decides to cut your miles or shut down, you’re left holding the bag.

I appreciate that this article lays it all out so plainly. The part about companies trying to sell you trucks they don’t even fully own themselves really opened my eyes. And that last question really stuck with me: If there’s so much money to be made owning a truck, why is the company trying so hard to sell you theirs?

For anyone reading this and considering a lease-purchase program, please take the advice here seriously. Do the math. Ask the hard questions. Read the contract word for word. Better yet, save your money and work toward buying a truck outright when you’re truly ready.

I’m glad I walked away before signing, and I hope others do the same. We deserve better than being tied down to a bad deal disguised as an “opportunity.” https://truckermann.com

 

You're welcome.