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

Any company putting management behind locked doors and bullet proof glass is a sure sign you should run away.....

 

I made it. Have title in hand. Admit lady luck shined on me. Wouldn't recommend it.

 

Cardinal Logistics has the best deal. You're actually purchasing the truck, not lease-purchase.

 

Heck ... if that's your only criteria for a good deal, Swift has straight purchase available, in addition to their lease option ... comes with a no questions asked, bumper to bumper 30 day warranty.

 

Actually most businesses don't generate the high profit margins that you think they do. Most businesses that are on the S&P 500 actually have a net profit of less than 10% annually, virtually the only exceptions to this are companies that supply software, computers, etc. or the pharmaceutical industry which generates net profit margins as low as 13% and as high as 20.2%.

Now, the average profit margin for a privately owned trucking company is around 7%, owner operators are included in this number, the big carriers are around a 2% margin. The reason that most trucking companies never "quadruple" their initial capital in the form of profits is largely due to trade cycles of equipment. That is where this business has a huge disadvantage over other types of businesses.

 

Excuse my vague description using "most business" was a bad example. I thought it was a given but what a mistake.
I.E. Frito Lay gets $3.89 for 4 oz. of chips which only cost them a few cents.
Goodyear plant manager once told me after R&D no tire they make cost more than $5.00 to produce.
Your exterminator charges you $40/visit to keep bugs from your house. His cost is less than $10.00.
If your yard man charged you $50 to mow your grass and it cost him $47 out of pocket too mow your grass, how long will he survive?

 

Hope you are a company driver if this is how you calculate "profit". Let's look at that exterminator. While the consumables is likely less than $10 he still has to have insurance, get regular certification, truck, office, advertising, billing and collections, etc. He has to turn over some many accounts a day just to break even.

 

I am, have tried the O/O thing and the risk isn't worth the reward. Rates are too cheap. I feel very fortunate to make what I make and not lose a seconds sleep over high maintenance cost brought on by a totally over regulated industry.

 

Do you ever notice that most lease purchase programs are offered in the dry freight, reefer and flatbed segements of the industry? Which are also the lowest paying. HMMMMMMM makes ya wonder

 

It's not all bad I'm in the Middle of a LP with CRST Malone I do well, we even have a buyout clause in our contract that follows the pay schedule so I was able to get the truck down low enough for my bank to buy out my lease which will take place soon as I get home I have my quote just gotta get home to get the money