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what happens if i turn my truck in.
Discussion in 'Lease Purchase Trucking Forum' started by DragonHalo99, Apr 2, 2014.
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Lets see if I got this straight. You're pulling a Swift trailer, loaded with freight that Swift is responsible for, while your tractor is wearing Swifts name and dot numbers. Despite these facts you dont think they should have any say in your speed....hmmm.
You're under contract. You have an obligation to meet the requirements of that contract. It doesn't matter if you're driving a lease truck or one you own. It doesn't matter what line of work you're in. You sign a contract, you agree follow its requirements.Stile Thanks this. -
This is why no one with less than 2-3 years OTR experience should be allowed to lease a truck. Companies that drum up the hopes of FNG's to be "Independent Contractors" three months out of school are doing these folks no favor. You should cut your teeth as a Company Driver, make your mistakes, absorb as much as you can in that time, and then maybe you're ready to step up from High School ball to College ball. I would estimate 85% of today's drivers don't have the business aptitude to succeed as a Lease Operator, and even fewer could make it to the NFL as an Owner Operator.
Foxcover and KeithT1967 Thank this. -
NEVER NEVER go for the LP. You pay all expenses and the company gets the benefits. If you just can't say no to the snake oil salesmen there ask for 2 things to be in the contract..
1. I want a walk away clause in the contract with no financial penalty.
2. I want to be able to take the truck some place else to lease on and still make my payments to you.
If they agree no problem. , if not RUN AWAY and stay company driver with your eye on going elsewhere. Not all carriers are alike . Not all are good. -
Was waiting to see who would be the next anti-lp crusader trying to save us all would be.
GabeScott Thanks this. -
With 45 years behind the wheel I do know a little about the trucking industry and how it works and how new drivers with a strong desire to truck can be screwed royally.
The LP is first, to get the freight delivered cheaply, it is to pay off a truck several times .A very few drivers ever pay it off. Maybe 3 out of a hundred manage to.
Fewer even read the small print and the balloon payment at end of lease can be the breaker. Can you afford $ 10 to $20 grand balloon payment at end of lease? Doubtful. LP relieves the carrier of maintenance and up keep issues. and the biggest plus deal for them is they can get that truck paid for several times most generally.. A plus for them not so plus for the driver. An LP benefits the carrier only. Not the drivers. Want to own a truck?. Go elsewhere and buy it, then lease it on where you want.stayinback and Foxcover Thank this. -
eggs- ackley -
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I hope this helps
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