Who has completed a lease purchase and fully owns truck with title?

Discussion in 'Lease Purchase Trucking Forum' started by OOIDA Media, May 7, 2010.

  1. OOIDA Media

    OOIDA Media Light Load Member

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    Jan 25, 2008
    Grain Valley, MO
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    Does this ever work out for anyone?

    Has anyone ever gotten the title into their hands after going through a lease purchase program?
     
  2. jtrnr1951

    jtrnr1951 Road Train Member

    Thus may be a dead thread, will watch and see...............
     
    IluvCATS Thanks this.
  3. sgreer78

    sgreer78 Light Load Member

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    Jul 26, 2008
    St Louis, MO
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    I know two people personally that it has worked out for, and a third will have title in hand in less than a year. I think you have to stay away from the big companies and their 800.00/wk payments plus everything else.
     
    Coachman1 and trucker43 Thank this.
  4. jimmyz233

    jimmyz233 Bobtail Member

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    Apr 11, 2010
    macungie, pa
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    i have owned two trucks through lease purchase. the problem in most cases is that big companies want you to pay most of the cost of the truck, then leave. you will not pay a $600 per week payment making under $1.00 per mile. i work on percentage and average 1.80 per mile and my payments are only $400 per week. be careful and read the lease agreement with an attorney. or the company will nickel and dime you to death!!! then smile when you quit because you just paid the payments for a year or so.
     
  5. groundpounder

    groundpounder Road Train Member

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    good advise..

    With the money they make off lease purchase they can afford to cut rates and haul freight for nothing......bottom feeders
     
  6. truckerdave1970

    truckerdave1970 On Probation

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    Dec 15, 2008
    Rochester, NY
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    Wow! 24 hours old and no one has proof of a completed lease purchase deal. Newbies this should tell you something about those "awesome" lease purchase deals!!!
     
  7. jimmyz233

    jimmyz233 Bobtail Member

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    Apr 11, 2010
    macungie, pa
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    trucker dave... i have completed 2 lease purchase agreements. on my third one now. sold the other 2. got 6 months left on a 2006 freightliner. will be my last one. 99.9% of the (leech) purchase programs absolutely do not work before the idiots even sign the agreement. i have been with my company for 10 years. i work on percentage (which they wont even offer now) and i average about $2 per mile. even our company is very small and offers a lease program, which no one can complete. how you gonna make .92 per mile and even try it???? there is the problem. all these ####### companies paying .88 to .95 per mile. i made $3 a mile 30 years ago. dont know what kind of proof you're looking for, but i am lucky and have done it...twice
     
  8. truckerdave1970

    truckerdave1970 On Probation

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    Dec 15, 2008
    Rochester, NY
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    You are the exception to the rule then.
    Off topic, but why did we take such a drastic pay cut? if You were making $3/mile 30 years ago, imagine how much money hat would be in today's economy!
     
    Badmon and TamedCynic Thank this.
  9. passingthru69

    passingthru69 Road Train Member

    When I did my lease purchase in 2002, I had some rough times.

    But the dealer and company I bought the trk. through helped me out.
    Yep loaned me more money...

    2 weeks from having the trk. paid for and I blew the motor out.

    Got the loan and regrouped.
    Paid it off in a year. 24 k.

    Me I believe it can work, But like others have posted, you need to read the contract and the very fine print.

    It is a bussiness and it needs to be run as a bussiness.

    You need to save for rainy days and times when work is slow..

    Me I am now at a point I can go to a bank or money broker and get my loans.

    Allready did that when I bought my trl.

    Good luck in the lease purchase and read all the papers and fine print.
     
    gldtigerwolf, SheepDog and Travelinman Thank this.
  10. groundpounder

    groundpounder Road Train Member

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    Nov 13, 2009
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    I was kinda expecting all the big lease operators from JCT that tell us how great it is and how much money they make to jump in with their sucess stories ???? Somebody must have completed the lease and walked away with a big large car by now...yes ????
     
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