Quote:
Originally Posted by marcel27208
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
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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.
Quote:
Originally Posted by marcel27208
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
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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.