What happens when the lease on my truck is paid off?

Discussion in 'Ask An Owner Operator' started by Okie Trucker Girl, Feb 21, 2022.

  1. Okie Trucker Girl

    Okie Trucker Girl Bobtail Member

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    Has anyone done a lease to purchase program with a company? I’m almost done with mine, but not sure what happens after that. The company is based in a different state than my home state so would I have to pay for registration all over again? Can I take it and go to another company? They’ve started to take longer and longer to get me loads and I think it’s partly so it takes longer to pay off my truck.
     
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  3. Spyro2112

    Spyro2112 Medium Load Member

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    Not no but HELL NO

    Dont
     
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  4. Okie Trucker Girl

    Okie Trucker Girl Bobtail Member

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    Can you be more specific? Lol
     
  5. LoneRanger

    LoneRanger Road Train Member

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    A lease = ballon payment at the end. Not sure how you wouldn’t know that.

    that means the trucks theirs after you finish the lease, reason why it’s called a lease and not a purchase.
     
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  6. Siinman

    Siinman Road Train Member

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    What does the paperwork say you signed? No one can tell you anything right unless they know what you signed.
     
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  7. Okie Trucker Girl

    Okie Trucker Girl Bobtail Member

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    Sorry I guess I should’ve mentioned that. There is no balloon payment. It’s a $1 payment at the end and then the truck is mine.
     
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  8. LoneRanger

    LoneRanger Road Train Member

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    once the title to the truck is in your hands free and clear of any leans, you can do what ever you want with it.

    As far as you paying for things like tags, registration and other expenses, that’s a deal you make with yourself and the company your leased on with.
     
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  9. D.Tibbitt

    D.Tibbitt Road Train Member

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    congrats! once you pay the 1 dollar , go get that title transferred into your ownership. now you are free to do whatever the hell you want with it.
     
  10. scoobertdoo

    scoobertdoo Road Train Member

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    Because these idiots don't read contract before they sign them.

    I read about 15 lease purchase contracts before I went and bought one instead.

    My favorite was one that said "we may cancel you at any time and you are responsible for all lease payments to the end of the lease term of 60 months"

    Not a single ##### would sign that with a brain if they read it.
     
  11. scoobertdoo

    scoobertdoo Road Train Member

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    Dont miss your $1 payment, I bet they would love to keep the truck because you broke the terms....
     
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