Why would anyone get into a lease purchase????

Discussion in 'Lease Purchase Trucking Forum' started by haz-matguru, Sep 25, 2020.

  1. crzyjarmans

    crzyjarmans Road Train Member

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    Anyone know what co lady this is?
     
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  3. Trucker K

    Trucker K Light Load Member

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    Watching the video as I am leaving this post because it seems really long. From what I've seen so far the Managers calling the police on this guy really makes no sense imo. It's a bully tactic from what I see. However, this driver is paying way to much for that truck and the driver should have a copy of the Lease Agreement in the truck. They are punking him from a 'hook & Reel deal' but that's the drivers biggest mistake. There are plenty of Private Trucking lease companies out there. With a $426k Lease to Own deal is a super scheme which obvious sucks. Sounds like the interest rate on the payments was @ 40% compounding. At $300k in thats 70.1% of the truck deal paid. I can Only assume his credit score at the time was terrible (it happens to the best of us in life and understandable).

    After that truck is paid for it's like he bought (3) trucks instead of one.!

    I found a used 2018 Peterbilt 389 car carrier truck for $164,696.56
    calculated at 42.6% interest rate $400,145.05 for a 60 month payment plan. WAY to much to pay for because that's literally a house price!..
    Payments: $6,669.08
    Amount Financed: $164,696.56
    Total Amount: $400,145.05
    Finance Charge: $235,448.49

    Nearing 23:53 and 'Hector Gonzalez' finds his Agreement in the back of his cab so that's good news so far..still watching..this extremely long video.
     
    Last edited: Nov 14, 2020
  4. bigdad7

    bigdad7 Road Train Member

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    He makes a point where the cop is wrong (shocking) the cop tells him plates are proof of ownership ....no only the title is proof of ownership ..
    .I have trucks with clear title that have company plates I trucks with third party leases that have my plates on , in a true lease (with a buy out) there is or should be a legal process to recover the truck not just call the cops , but since when where these scams ever legal
     
  5. pserra

    pserra Bobtail Member

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    Cops shouldn't have been involved anyways. This is a civil matter 100% and not criminal. The suit is just trying to intimidate the video guy. If he violated the contract then a REPO company would be what the suit needs after the civil legal process.
     
  6. Oakland Raiders Forever

    Oakland Raiders Forever Medium Load Member

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    #### ... that video was over 2 hours long !!!! What happened did he get out of the truck or did they let him drive away in it ???
     
  7. bigdad7

    bigdad7 Road Train Member

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  8. Atlanta trucker

    Atlanta trucker Road Train Member

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    Hate to be all racial and junk but ...
    Rich white man against a Hispanic immigrant blue collar worker wasn't going to end well for the poor Hispanic guy. Sad to say it but I knew that soon as I saw it. Stay away from debt credit lease and all that you owe something to someone else it is not good. I don't think it's ever good. Even if your buying a house with a mortgage look how much your paying.
     
  9. nredfor88

    nredfor88 Heavy Load Member

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    Really?

    I mean really?

    It's about race?

    A disease, I say.
     
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  10. JonJon78

    JonJon78 Road Train Member

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    Hogwash. Complete BS. Just because its a white man huh? Get real!!!
     
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  11. Oakland Raiders Forever

    Oakland Raiders Forever Medium Load Member

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    You know how those white guys are
     
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