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

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

  1. Atlanta trucker

    Atlanta trucker Road Train Member

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    Cool ... I'm glad it is working out well for you.
    So sounds like you are currently lease purchasing a truck now from them ? If so what is the weekly payment ?
    I do know people who seem to lease purchase on a perpetual bases , or they say they do.
    Again I'm not anti lease purchase but I am anti "they ripped me off !!!" Then when you ask them exactly how they did that ? it turns out the driver had no idea what he was getting himself into.
     
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  3. TequilaSunrise

    TequilaSunrise Medium Load Member

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    Why would you start a trucking company with a full retail priced truck? Wouldn't it be better to pick up a used truck you can pay cash for or at least half cash??
     
  4. GYPSY65

    GYPSY65 Medium Load Member

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    Not to change the subject
    But.
    I would be very careful what you believe is true with Dr Rutherford
    He sells more BS or as much BS as Dave Ramsey
    Some of it is correct. Or worth looking in to but most of it is just money in their bank
    They are professional sales people
     
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  5. TequilaSunrise

    TequilaSunrise Medium Load Member

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    Dave Ramsey has a lot of great stuff.... I agree with his baby steps... I've increased my networth quite a bit. I don't following every bit of advice, but for the average person with no finance knowledge it's a great start.
     
  6. GYPSY65

    GYPSY65 Medium Load Member

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    I agree with some of it but just like anything else we just need to question theory’s and see where the $$ is

    It’s usually or almost always for them and them alone

    Now if he or Kevin or anyone else blowing that horn was out doing it for free then I’d have a different opinion but they’re not. Their entire program is angled towards a sale

    I think with Kevin and Dave it’s that we are in our trucks all day and it’s easy to be swayed in to their entire program. Just need to be careful and use what works but it isn’t all great advice
     
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  7. TequilaSunrise

    TequilaSunrise Medium Load Member

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    We picked up the books at Goodwill and listens to the audible books from the library. The podcast is free and the calls are comedy at its best. YouTube has the books for free also.

    I know that they have a lot of books. The financial peace class (their biggest sell component) offers accountability and direct access to like-minded people... I work too much to sit in a class but in 2 years, I have achieved much.... It's definitely worth listening to.

    We didn't pause our 401k contributions and we went on family vacations every year anyway. Also, using money market accounts to grow wealth alongside paying all debt to zero. It's a careful balance.
     
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  8. Atlanta trucker

    Atlanta trucker Road Train Member

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    I doubt he started a trucking company. Sounds like he is a lease purchase driver to me.
     
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  9. TequilaSunrise

    TequilaSunrise Medium Load Member

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    I know ... I guess I'm asking why buy a new truck at all?? I know why my company does, but that's different... They buy so many they get them for a great price reduction. And they resell them at about 1M miles.

    I just don't understand why you would buy a new truck to run it into the ground and constantly upgrade it so you never own anything. Can you gross 100k+ a year doing this (you not the truck)? And if you can't why go through all the trouble???
     
  10. Atlanta trucker

    Atlanta trucker Road Train Member

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    Well I guess its in all what is most important for YOU .... I've never a bought a new truck or new car but my wife and my parents buy brand new all the time. Some people just want "brand new"
     
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  11. GYPSY65

    GYPSY65 Medium Load Member

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    I was thinking about this
    Didn’t watch the entire movie. But if he got this truck new then the $$ is close to about right
    I’m sure there’s extra interest in there but these are not cheap rides

    The part I’m confused about is why after 4 years he did not have enough $$ in the bank to float a month?
    Maybe this was addressed but I take 2-3 weeks off after being out around 3 weeks and that’s several times a year

    If he never or rarely went home and was still low on funds then he had no good plan in the first place

    I feel for the guy. His family. And the situation he ended up in but I’m thinking he might be better off regrouping. No matter how painful or how much he feels he lost
     
    Last edited: Feb 8, 2021
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