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. moblue

    moblue Light Load Member

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    Aug 8, 2010
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    Just make sure you go over the truck with a fine toothed comb and double check to see that the repairs they said they did are actually done. My truck has been in the shop almost every weekend since I bought from them.
    After the sale they get real forgetful. In my experience anyway.
     
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  3. MedicineMan

    MedicineMan Road Train Member

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    Woodville, TX
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    My truck is from them. they are good people and they do what they say. They have been good with me on a few late payments. As long as you make it up within 10 days. I've ever gone more then 5 days late.

    here is the thing with lone mountain though. they will tell you flat out. They will make the truck right before it leaves the lot.... read that well and understand it.They tell you to take the truck for a dyno run for $250, have it inspected whatever you need to do. they will fix any problems for you before it leaves. But once it leaves there is no warrentee at all. Well I take that back, they give you a one year aftermarket warentee but those are about useless so just consider it as no warrenty. I've only spent $3500 in repairs in 18 months on mine but I did my homework and looked over 12 trucks to find the best one. Most people walk in look at one and sign the papers. I was there 4 days buying mine and I say six people show up and leave with a truck in that time.

    stay away from used volov's, they are maintenance nightmares. Sure they are comfy and they are nice ew but used they will run you into bankruptcy.... seriously. Also I don't like this new thing they are doing with the brand new peterbilts. $14k down, $2500 a month with a $38k buyout at the end.... WTF, that's just like a fleece purchase deal. I'm hoping they aren't getting greedy because I really do like them and it's the best place in the country for getting a truck with less then perfect credit

    pm me if you want more info
     
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  4. Eskimo6804

    Eskimo6804 Heavy Load Member

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    Northeast Alabama
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    When the hell did they start doing that deal with new trucks??? That's about a ripoff.:biggrin_25510:
     
  5. rayall01

    rayall01 Bobtail Member

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    Dec 4, 2010
    Winchendon, MA
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    Centurys, Internationals too
     
  6. fallinangel

    fallinangel Medium Load Member

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    Dec 30, 2010
    Branford Florida
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    Yep got the title and truck but theres only one good way to do it you got to save and when the freight slows down you take what you saved and pay the truck off.
     
  7. roadhammer123

    roadhammer123 Medium Load Member

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    Nov 16, 2010
    Springfield, Ma. area
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    heading to Ohio for JR schugel anyone got any advise about there lease program or have done it $410wk truck payment about 750 total a week for everything _fuel surcharge
     
  8. Sisken

    Sisken Bobtail Member

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    Feb 24, 2011
    Everett,WA
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    i ran with Melton Truck lines, for 2.5yrs with a 3yr lease option to buy. They slowed my delivery's down and when that didn't work they gave me 800 mile trips to do in 4 days.
    when that didn't work, they gave me less work till my profits were even. so they used the non profit clause and took back my truck.
    6 months left to pay in full.
    so now what is a good trucking company that has this option that i can successfully acquire a truck and business with?
     
  9. G/MAN

    G/MAN Road Train Member

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    You can take all of the fleece purchase programs, put them in a bag, shake vigorously and you won't be able to tell one from another. If you want to become an owner operator, why don't you get a company driving job and commit to saving $100-200/week or more until you have enough for either a big down payment or just buy a truck for cash. If you pay cash you don't have to worry about anyone coming to take your truck. If you are disciplined you should be able to save enough in 1-2 years to pay cash for a decent truck. If you can't save money as a company driver, then you should probably reconsider buying or leasing a truck.
     
  10. gulfinc

    gulfinc Bobtail Member

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    Feb 10, 2010
    born in the usa!
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    lol.... crime inc has the best lp ever....... lone montain is the way to go... just make sure you get on with a good compay!
     
  11. DustyRoad

    DustyRoad Road Train Member

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    Gulf of Mexico
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    here are some numbers you should consider before becoming and Owner Operator.

    A 2007 Pete 379 ave 50k used with 700k miles
    financed at 3 years at 8.5%
    10% down plus Tax Title Licences, Insurance and Permits = $ 9,000.00
    Total 59,000
    Note $1500.00 per month
    monthly Gross revenue should be over 10,000
    drivers salary 30%
    truck note 15%
    fuel and taxes 50%
    escrow 5%

    Operational Cash Needed 10,000 or line of credit
    Independent contactor quarterly Taxes?
    Medical and Life ?
    Repair and maintence fund?

    Bottom line is you need CASH to Start a Trucking Company, the lease (rental agreement) from fleets is a scam.
     
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