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

I still wonder why people lease trucks thru the company they are going to run for. My first truck was thru Freightliner Selectruck ( granted they were not the most reasonably priced either....$1600/month). But I was able to switch companies if things went bad........did that 2 times in the 39 month term. If it was a lease purchase I would have had to start over both times! Also, there are plenty of dealers out there that will put you in a descent truck with a warranty with bad or no credit. It requires more footwork and research on your part to purchase it yourself, but the gained leverage you will have with the company you sign on with will be worth it. A mechanically sound used truck makes just as much money as a shiny new truck.

 

What other names do lease purchases get called? I saw another thread talking about a "Success Leasing"

 

Fleece Purchase comes to mind..

 

success leasing is what Prime calls their lease purchase plan.

 

I did through my current company. No longer have the truck though....sold it and bought another.

 

To get info from JCT driver you have to go on to there thread, and even then they will probably ignore you. They seem to be in there own world.

 

I am a lease driver with tango transport when should I file my taxes every quarter or at the end of the year.

 

and seem to think they are making money as well.....

 

So on average, what are you guys netting per year.....after all expenses, including heath insurance are taken out?

 

Here's what I don't understand about Leasing. Here is Swift's Lease deal:

2010 Prostar SKYRISE
Lease Price: $106,000.00
Lease Term: 204 weeks
Lease Payments # $525.00 per week
Residual: $49,400.00
Security Deposit: $2,500.00
Mileage Charge: Loaded, empty and unauthorized deadhead miles in excess of 11,000 a month will be calculated # $0.09 cpm, and assessed to the owner operator's settlement monthly. NOTE: This is a deductible expense.

If you lease to the end, 204 weeks (4 years) you will have paid $107,100 (not sure where they get the $106,000 from). Then you can purchase the now 4 year old truck for $49,400, which you will probably have to finance for 3-5 years. Let's say 4. So in 8 years you will have spent almost $160,000 to own outright an 8 year old truck. Or you can go get a 4-5 year old truck, from a dealership for around $30k, finance for 3 years, and own an 8 year old truck outright for probably around $45k after interest, and make more money during that time, because your payments are lower. Is a brand new truck (on day 1) really worth it? It's gonna be a used truck on day 2 anyway.