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

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

  1. bigdad7

    bigdad7 Road Train Member

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    Why finance thru the dealer anyways I tend to pay around 7%,vat my local bank and since they handle most of my business banking when we pay off this last round , which is down to 190k now we will negotiate that rate down some.....15% seams high and if you have your own financing on used trucks you are a cash customer and can negotiate the price pretty hard (and I am aggressive )
     
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  3. Opus

    Opus Road Train Member

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    Not doing a lease purchase now.
    I bought out my first lease with Schneider after 2 years using what I had saved and what was in my maintenance account.......about 15k on both sides.
    Ran the truck up to 990k and traded it to Selectrucks in Atlanta for a used CRST truck that only had about 350k on the clock. I financed the purchase through my local bank at, I believe, about 3.8%.
    My monthly payment is $1200.
    Schneider trucks will run you about $1200 a week all in. And you can make money that way if you're focused.....but not a lot. But there is still money to be made. In all honesty, probably in the 75k range.
     
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  4. Whatagal

    Whatagal Light Load Member

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    I was just looking at JCT. An entire fleet composed of nothing but lease purchase/Owner-Operators. On their Facebook page I noticed one had been there for 8 years.
    So, according to all of you, JCT has managed to run a company and not get a bad reputation while cheating drivers who continue to drive leased trucks while making less than the average company driver because, according to most of you, it can't be done.
     
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  5. bigdad7

    bigdad7 Road Train Member

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    Look at jct when you get a chance lmthe letter next to the truck number changes with each guy that tries thier dream at 1.00 a mile ....you will notice they go pretty far up the alphabet considering they trade them in every four years ..
    And I did some time back in the day their it was allways not a great deal but they were outlaw af ...what you couldn't make up with the rate you made up running 4000 to 5000 miles a week .
     
  6. Oakland Raiders Forever

    Oakland Raiders Forever Medium Load Member

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    It’s like multi level marketing pyramid scams ... they keep popping up because they work for ENOUGH people that people keep selling them. I’m not sure if anyone ever said it can’t be done but that there is better ways to do it. If your lease purchasing and it’s working well for you then congratulations and best of luck to all of you.
     
  7. TequilaSunrise

    TequilaSunrise Medium Load Member

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    FYI

    My friend works at JCT. He nets about 30k a year. 100% not worth it. He's barely making enough to be off the streets. He trades out his truck so much because they aren't built to outlast a driver.

    The lies are so ingrained, he thinks he's making progress... Sad.
     
  8. bigdad7

    bigdad7 Road Train Member

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    If your friend lives in ks ok mo ar area I could do him much better then jct with better hometime...but when I was there way back then I used to love those long routes to the west coast and back but unless you ran more then we ever should and never stopped moving the money wasn't impressive ....but the culture and routes there was fun .....and with that time and pressure you just don't have time to take care of an emmissions truck correctly ...
    I have bought a couple jct trades they def need significantly more work then some of the other fleet trade ins I have bought in the past
     
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  9. TequilaSunrise

    TequilaSunrise Medium Load Member

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    He's brainwashed... It's a no go for him. I offered to get him on at a terminal with a dedicated $90+k run with my company. He passed because, he likes being his own boss.

    I said... Live on $30k bank the difference and pay cash for a truck to start his business off in the positive. But, he didn't want to walk away from all the work he already put in. <EYE ROLL EMOJI HERE> So instead, he's struggling like it's his religion.
     
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  10. Powder Joints

    Powder Joints Subjective Prognosticator

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    Bottom-line what he does is his business, just because it works for you, it may not work for him. I learned many years ago to leave it alone, and I have friends that have completed JCT lease's and Prime Leases and moved on and both are doing well as independent's and seemed to be happy. Personally I would do the lease purchase but for some it seems to work. More power to them if it makes them happy.
     
  11. Jpeterson522

    Jpeterson522 Bobtail Member

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    :biggrin_25523:That is hilarious lol.... but at the same time I feel bad cause running like that means ur never home...

     
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