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. danoles93

    danoles93 Bobtail Member

    15
    8
    Jun 10, 2013
    0
    I'm 10 mo. into a 30 mo. L/P with P.A.M. $1500/mo x 30mo.=45,000/130 weeks = $346+/wk payment. $1.00/mi + FSC, average 2500-3000 mi/wk. in 2014 from 6/13-12/31 total settlement was $35,000, so minus 20% for taxes I took home roughly $28,000 in 6 1/2 months (this equaled my gross pay as co. driver from 1/1-6/13), that doesn't include what's sitting in my maintenance account (0.06/mi). I still live off what I took home as a co. driver and put the rest in savings. I leased a 2012 Cascadia w/ 324,000, I've only had minor issues so far with the engine and 2 tire blowouts.
    Solo drivers can succeed if they are careful with their money and have a company willing to give you miles. I'm not saying it's perfect, but it's not as bad as some of the stories I've heard.
     
    Jarhed1964, Bosscity318 and mqc1298 Thank this.
  2. Truckin Juggalo

    Truckin Juggalo Medium Load Member

    606
    123
    Aug 5, 2006
    Madisonville, TN
    0
    worked for me I bought my Freightliner from CRST Malone in August 2014 I've worked at Mercer Transportation Ever Since I got my Title
     
  3. Tata42

    Tata42 Bobtail Member

    1
    0
    Jun 8, 2017
    0
    Hey. I would like to know more info on that
     
  4. Wickedfire77

    Wickedfire77 Road Train Member

    2,517
    1,929
    Mar 3, 2013
    Northern, Michigan
    0
    I did. I have my title
     
    SheepDog Thanks this.
  5. Lexis transit 4u

    Lexis transit 4u Bobtail Member

    2
    1
    Aug 8, 2017
    0
    What company did you do lease to own from.
    om
     
  6. Slick Rick the trucker.

    Slick Rick the trucker. Bobtail Member

    4
    0
    Aug 10, 2017
    0
    Who did they go through?
     
  7. frago

    frago Light Load Member

    249
    141
    May 26, 2008
    NW Iowa
    0
    I Don't think the problem is as much the actual system of a lease purchase , but far more , the people who choose to sign up for them. If there was for instance a 5 year constant experience requirement and maybe even 5 years at the same company, the failures would be far fewer. Lease purchase isn;t the failure , the people who do it are.
     
  8. futurenow

    futurenow Bobtail Member

    20
    2
    Feb 22, 2009
    Norfolk, VA
    0
    I've paid off 2 under lease purchase,,,with this after treatment in the newer trucks,,I find leasing more practical in terms of maintence upkeep,, the 2 I paid off are now stick wagon trucks,,
     
  9. Pepper24

    Pepper24 Road Train Member

    1,248
    725
    Apr 19, 2016
    0
    Where did you do a lease purchase that you weren’t responsible for maintenance and upkeep
     
  10. Wickedfire77

    Wickedfire77 Road Train Member

    2,517
    1,929
    Mar 3, 2013
    Northern, Michigan
    0
    I think* they mean it was a flat rate paid for unlimited mechanical work done. I did the same thing. It was a maintenance program, not an account. Covered everything
     
  • Draft saved Draft deleted