Lease/Purchase Programs

sjearnhardt3 · #1 (**permalink**) 10-13-2008, 02:07 AM

Are any of them any good?
How long should you wait before considering it?
I know alot of companies start pushing it as soon as you step in the door. If I was going to do it I would wait atleast a year to make sure I like the company and plan on staying there.

ranger309 · #2 (**permalink**) 10-13-2008, 02:16 AM

Never tried it but you can bet if they push it on you its because they make or save $$$. Mostly what I know about LP plans is that they are not usually the way most regular OTR drivers go, only newbies that don't see the pitfalls. My two centavos.

pro1driver · #3 (**permalink**) 10-13-2008, 06:48 AM

Quote:

Originally Posted by sjearnhardt3

Are any of them any good?
How long should you wait before considering it?
I know alot of companies start pushing it as soon as you step in the door. If I was going to do it I would wait atleast a year to make sure I like the company and plan on staying there.

long story shortened........

STAY AWAY FROM THEM...............!!

THEY MAKE MONEY......NOT YOU..........!!

DA-END........

Cerberus_Kelpie · #4 (**permalink**) 10-13-2008, 01:53 PM

One can make a small fortune in Trucking if one starts with a large fortune.
If one has at least $50k stashed somewhere, one may be able to do a Lease Purchase for a little while, BUT one need know that the "truck" being purchased has been purchased several times before and may only "appear" to be a good deal when in fact it is a very bad one.

There have BEEN MANY who have fallen for this "idea" and many that have been burdened with such and have yet to overcome the debt because they could not continue with the "contract" because of excessive expenses.

YOU PAY FOR ALL FUEL.
YOU PAY FOR ALL REPAIRS.
YOU PAY FOR ALL TOLLS.
YOU PAY FOR ALL TICKETS.
YOU PAY FOR TAGS, INSURANCE, FUEL TAXES, ETC....
YOU TAKE HOME MINIMAL PAY WHEN AT ALL.
YOU ARE DRIVING FOR THE COMPANY AND EVERYONE ELSE BEFORE YOU SEE A DIME.

If these sound good then have at it and GOOD LUCK!!

JLKKLJ777 · #5 (**permalink**) 10-13-2008, 04:50 PM

This has been covered in a couple of different threads here. You may want to read up on them at the following links;

Need pros & cons of Leas/Operator vs Company Driver

The next one is;

http://www.truckingboards.com/trucki...d-bad-why.html

The second one is a pretty good conversation which should give a wannabe lease op some serious food for thought.

pro1driver · #6 (**permalink**) 10-13-2008, 05:34 PM

Quote:

Originally Posted by Cerberus_Kelpie

One can make a small fortune in Trucking if one starts with a large fortune.
If one has at least $50k stashed somewhere, one may be able to do a Lease Purchase for a little while, BUT one need know that the "truck" being purchased has been purchased several times before and may only "appear" to be a good deal when in fact it is a very bad one.

There have BEEN MANY who have fallen for this "idea" and many that have been burdened with such and have yet to overcome the debt because they could not continue with the "contract" because of excessive expenses.

YOU PAY FOR ALL FUEL.
YOU PAY FOR ALL REPAIRS.
YOU PAY FOR ALL TOLLS.
YOU PAY FOR ALL TICKETS.
YOU PAY FOR TAGS, INSURANCE, FUEL TAXES, ETC....
YOU TAKE HOME MINIMAL PAY WHEN AT ALL.
YOU ARE DRIVING FOR THE COMPANY AND EVERYONE ELSE BEFORE YOU SEE A DIME.

If these sound good then have at it and GOOD LUCK!!

maybe its my age, or the living i had/have done over the years, but serioulsy, if anyone WERE to have $50,000 stashed away, i'd be pretty much thinking about a roof over my head. like a house or even a condo. i feel its MORE important to have a REAL HOME to go to when the day (or week, or month) of work is done. sure, and apartment is good too, but you don't have an equity built into rent payments. this year, soon to close, i will have paid interest on my home mortgage to the tune of (about) $10,000...........great TAX time deduction.......

i'm building up equity in MY HOME and get tax breaks.......

a truck as we all know, DE-VALUES, and has very little equity in it, other thatn the payments a person has already paid into it.

but this is my way of thinking. i want a real roof over my head, and a real place to call home.

even if i were to be so ever lucky to "hit the lottery" i would surely RETIRE and give it all up.

i MIGHT (really) buy one of those International "pick-ups" that are mini tractors (i forgot the actual model, but you should know what i mean), and drive THAT around, simply because i can afford to, no matter the price of diesel.

i'd NEVER buy a rig and then hire someone, as then i WOULD have the headaches as an owner-operator, and it would be a complete waste of money.

sadly, in today's economy/world, things are forever changing the earning potential of the business. i do believe that only the strongest of the strong will survive, and also sadly, many of us will end up working for those companies, and be nothing more than a number, rather than a member of a family.

this is what I WOULD BUY, if i hit the lottery...