What is the difference between an O/O and a Lease purchase O/O?

Discussion in 'Lease Purchase Trucking Forum' started by Thatonenewguy, Jul 7, 2017.

  1. Thatonenewguy

    Thatonenewguy Light Load Member

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    Why would someone chose one over the other, I see there is two different category's. Can you find your own customer base with a lease purchase or are you required to pull certain loads?
     
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  3. Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    Last edited: Jul 7, 2017
  4. uncleal13

    uncleal13 Road Train Member

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    Hmm. Well there is the true owner operator that has their own truck, authority and customers.
    There is what I call a lease owner operator, which I consider myself to be. I own the equipment (purchased or leased from a third party, ie: Daimler Truck Financial) but I lease my services to a carrier using their authority and customers.
    Then there is the lease-purchase. Where the trucking company owns the truck (some times they use a third party) and then they take your lease payments directly out of your settlement. They supply the truck, authority and customers.
     
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  5. Bean Jr.

    Bean Jr. Road Train Member

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    The answer to your question is echidna.

     
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  6. I am medicineman

    I am medicineman Medium Load Member

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    About $3,000 a month in truck payments.
     
  7. nightgunner

    nightgunner Road Train Member

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    Gonna get kicked off of this site if I say what is bouncing around between my ears right now...
     
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  8. slim shady

    slim shady Road Train Member

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    Say it, We can't hear you anyways.
    Just don't type it
     
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  9. Raiderfanatic

    Raiderfanatic Heavy Load Member

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    Not all lease purchases are bad. I'd stay away from the mega carriers. I wouldn't be able to go out and buy a brand new truck, nothing down and less than 2 grand a month without the help of the small company I'm with now. They aren't killing me on interest either... no more than a finance company would. Hell, maybe less. The majority of the guys with them have been here for more than a decade. Turnover rate is what sold me on them. I understand guys not liking or supporting fleece agreements but not all out there are looking to rip off the driver. Might not be a many good ones but they are out there.
     
  10. GetRid70hr8dayRules

    GetRid70hr8dayRules Light Load Member

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    The biggest issue would be did you get fired for the late load you agreed to at 13hrs in the day, or did that accident another fleet driver have make your 40k in equity look really good? Can you transfer trk?
     
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