paying off a truck doing a lease pruchase is what companies would call being successful.......... but my point is not all companies have lease purchase to where you cant make any money? Now i know the truck payments are higher per month than buying it on your own, but a chosen few on a few threads have made it seem like you will be making 2-3 hundred dollars per week after expenses and i dont think thats true. and unfortunately thats what they are telling all the newbs

 

ok this was a specific l/p deal i was talking about


lease a 03 peterbuilt 387

272 per week

06 cpm maintenance

3 years sale price 47k and some change

5k buyout(can be financed) truck have 300-400k miles

insurances are offered thru the company........ not i didnt think that was a bad deal

but i can understand everyone getting up in arms about a 575per week 01 freightliner century(red) hint hint 10cpm maintenance 10k buyout
truck has been leased 2-3 times b4 with a 10k buyout at then end and truck has 600k miles on it

 

There probably are some decent l/p deals and every 3 years you can try to find one.
Even if you have your own truck it may take a few companies to lease to in order to find a company you like.
When you l/p you have signed a contract and you are stuck with the company.
What if they land the coveted "dollar store account" you have no choice you must hump every piece of freight off that truck. every day The other o/o's have moved on. You are stuck.
In three years you will probably go through 4 or 5 dispatchers
Not everyone of them is capable of making you money.
It might take a few months to weed them out.
Don't assume 2500 3000 miles either when you "do the numbers"
They might run you 300 or 400 per day in order to cover their work.
Then what?

 

Just drive and get a paycheck. Let the suits deal with owning it and fixing it.

 

Marcel, before you sign the contract ask these questions. Will the Carrier require you to have all service and repairs done in their shop? If they do that's a red flag. Is there a penalty for putting too many miles on the truck? I saw a contract just the other day where a team operation was getting penalized 10 cents/mile for anything over 2600 miles/week.Will the Carrier guarantee you miles? This is VERY important!!! So many failures are do to the lack of miles.Remember the Carrier has three types of drivers. Company drivers who is going to get the most and best paying freight, the Owner Operator's who is going to get the next slice, because the Carrier is going have to keep these guys halfway happy, then theres the lease purchase guys. They don't care about them because they are LOCKED to the Carrier!!!! If they will not promise you any work, then you HAVE to be able to take the truck somewhere else. Which I doubt that will happen. The lease purchase contracts are NOT for the Owner Operator, it is for the CARRIER and the CARRIER only!!!

 

Anyone here wanna buy a $1500. Kirby vacuum ? :lol: :P

 

Big difference though when we started-You only Needed a Dollar in your Pocket for Lease Purchase :P

 

Marcel, I seem to recall someone who was in one of these fleece purchase deals who only had about $300/week after expenses. Someone else may remember the thread. In any case, all you really need to do is sit down with pen and paper and look at the numbers. They just don't add up.



You will still be paying out over $500/wk with this truck. There are other charges which are not listed. I spoke with one company who offered fleece purchase programs. I talked to the individual who did them for this company. I won't reveal the company, because I don't want to cause this person a problem with his job. As I recall, they offered a program with a weekly payment of about $250. He knew that I wasn't interested myself because I already owned my own equipment. He was very candid with me. I asked him the total cost with everything figured in. He told me about $800/wk. Now, this comes directly from an individual who handles this type of program. That is in line with other fleece purchase programs I have looked at over the years.

I would love to see a fair lease purchase program. Perhaps one reason these programs have such a high failure rate is due to them leasing a truck to any warm body that happens to walk through the door. I don't think you need any minimum level of experience to get into one of those deals.

I don't think anyone who has offered advice about these fleece purchase programs is being mean spirited or wants to see anyone fail. We know what it takes to be successful as an owner operator. Some of us have be at this for over 20 years and some over 30 years. I believe we have learned a few things during that time. One thing we have learned is how to make a profit and be successful as an owner operator. You can choose to either take the advice given or ignore it. We have nothing to gain by discouraging you from getting involved in this type of program. I have found that some people simply don't want to do what they really need to do in order to be a successful as an owner operator, or even a successful driver for that matter. One reason these programs are such a success is because drivers are unwilling to discipline themselves to save enough for a good down payment or pay cash, while they get their credit in good shape and learn this business. There are no real shortcuts to becoming successful. It takes hard work and discipline.

 

yeah yoopr
but thats when a dollar was worth a dollar.
wait a second
that's when a dollar bought a dollar.... no thats not it
oh I got it
that's when a dollar bought 3 quarts of Iron City Beer
speaking of beer......

 

For some reason I think I heard of Iron City Beer-It must have been regional and when in my rookie days I ran out your way :P
I started the same time as you-Winter of '78