without risk, there's no reward.

We are getting ready to start our journey in the lease purchase game. Before we came to the decision to do this, we did our research and I sat down (I'm the numbers person in our marriage) and figured out what we need to make to cover all the fixed costs, fuel (figuring high to be safe), taxes and our household expenses, including our healthcare that we already pay for ourselves and money for gas, groceries, feeding the pets, and a little extra cushion because I like to be safe. We know what we need to make to make it work. We know it'll take a couple weeks for my husband to get the hang of it, so we are prepared for that. If it's still not working after the learning curve, he will walk away and go back to work for someone else. It's that simple.

He has options. His current employer has already told him that he is welcome back at any time. His two employers before that have also said the same thing, and he has friends (ex coworkers) in supervisory positions with other companies that have told him they want him to work with them, too! So yeah, we have back up plans if it doesn't work, and we have a family so we won't wait until we are too far in the hole before we back out. Believe it or not, even though we are doing a lease purchase, we are actually fairly intelligent people! Who knew?

 

Well, he has a tentative start date with Celadon for flatbed, but he's still waiting to hear back from Mercer, who is his top choice. But he's made friends online with a couple guys that work for Celadon's flatbed and they are pretty happy and making decent money. But Mercer just seems like the better company, overall, and where we would eventually like to end up. On the bright side, he'll be using Quality to lease his truck and trailer, so he can always take the truck over to Mercer later on.

 

Thank you! Best of luck to you, as well!

 

The primary drawback I can see is the weekly payments. If you hit a snag or have a hiccup, that fixed payment still comes out.

I'm personally in a situation where my total fixed cost is less than most mega truck payments.

I can see how an advertised fixed cost upwards of $1000 a week or more (Prime inc) would send anyone on the outside looking in into a spiral of doubt and naysaying.
A breakdown or illness and you are 2-3k in the hole In a big hurry.
Just thought I'd give my 2 cents

 

Who's this 'we' shat? Are you with some secret society that determines who benefits you, and who doesn't? You have a lot of balls to be telling someone they're not welcome to do what YOU want.

 

That's not true. I made it 5 years.