Give it to me straight

[georgwh]

I'm the father of 5. I've been driving a truck for 3 years now. 2 years over the road and the last year delivering fuel locally. The pay is just enough to get by.

The lease purchase deal at John Christener is tempting. I can run pretty hard. Everything on paper looks as if I'll still be making pretty good money even after maintence and expenses.

The problem is, I know things on paper aren't always what happens. Can you tell me if this would be worth it? My wife and I are a little afraid to jump into the deal without hearing from a lot of people first.

Thanks....

[Sonny Pruitt]

Stay local and watch your kids grow.

In a breath

they will be grown up

[Fozzy]

I second that motion... Stay home and live with your family, they'd rather not have few less trinkets than have you be missing everything for the sake of the truck.

[GMAN]

If you think you are barely getting by now, just wait until you are in a fleece purchase deal. These are designed for one reason only, make money for the carrier. There are lot of hidden costs involved in running a truck. If you want to be an owner operator save your money for a good down payment and find a lender. Better yet, save enough to pay cash. I don't recommend buying a truck without having money in reserve. You can buy a truck with a monthly payment of about what most of these fleece purchase deals want weekly. If you buy a truck, you will own it at some point. You will never own a rental unit. If you want to publish their figures on this forum, I am sure that you will get a lot of input. Some of us have owned a number of trucks. We will be glad to give you honest answers to any of your questions.

If your motivation in getting into one of these fleece purchase deals is making more money for your family, it isn't going to happen. Perhaps you would be better off looking for another local or even regional job that could pay more money. Good luck.

[Windwalker]

Over the years, I've known very few companies that had it set up so that you actually make any money with a lease-purchase. The companies have it set up so that you will run to make your payments, but in the process, you will be making them more money than a company driver because of your "incentive" to own the truck. The vast majority of lease-purchase deals are like revolving doors. A driver goes into it with high hopes, but after realizing the truck payments, maintenance costs, insurance, etc, he realizes that there is still nothing left to pay the bills at home. Two months after they go into the deal, they're gone. If you're barely getting by now, you will most likely find that one of those lease-purchase deals will sink you. Find your own truck, something like an old cab-over in good shape, for about $7,000 to $15,000. Sign it on and get it paid off in a year or so, then build up your reserve to buy something better.

[solo379]

The problem is, I know things on paper aren't always what happens.

Exactly!

Short answer;- Forget it, don't ruin your life, all you'd get, is a "cash flow mirage", if that! :sad:

[beachbum2]

It's tooo true. Save your money and put a good down payment or better yet buy a good used truck for cash. The big companies will lease a truck to almost anyone... That driver will make the companies payments (times two usually).

The only way you will have any money left over at all is to run,run and run. Then you ran so hard the maintenance expenses start to mount up!

Put away a little each week and before too long, your kids will be older and you will be able to buy a truck. Don't get sucked into the "fleece program"! Patience and good luck

[GMAN]

You can buy a good used truck for less than $20M. With a good down payment and decent credit, you should have no problem getting it financed with 10-30% down. Most will require about $20%. Payments will run around $500/month, much less than you would pay in a fleece purchase deal. If you choose to lease to a percentage carrier, they usually don't care about the age as long as it looks decent and will pass a DOT inspection. Paying that much for the truck, you won't put such a strain on yourself and actually be able to make money. There is enough stress in this business without the additional pressure of not bringing home a decent paycheck.

[Sonny Pruitt]

Georg
92 cpm + 100% surcharge
If you want a divorce,
This is by far the best route

[Niagarafallss1]

Go pester the heck out of the regional/local carriers (ABF, OD, Overnight, Roadway, Estes, etc.) and see if you can land a line-haul gig that will get you home every day.

[Sonny Pruitt]

Have you had any snow yet?

[marcel27208]

i dont understand if people say that fleece purchase is sooo bad...why do people succeed at it? Now ive read some fleece purchase deals and thought WOW how does the driver make money(CR ENGLAND) but then there are some that kinda look like they are trying to help the driver( DJ FRANZEN) it seems the smaller companies have the "best" deals if thats what you wanna call it(a deal)

[GMAN]

i dont understand if people say that fleece purchase is sooo bad...why do people succeed at it?

They don't. That is the problem with them. They are design from the beginning to fail. I don't know who you have been talking to about fleece purchase people being successful, but I only recently met the second person in over 30 years who has told me that they actually completed their fleece purchase. All you have to do is look at the numbers. They don't add up. If you want to lease a truck then find a leasing company and lease one from them. I have spoken to countless drivers who have lost their shirts on these scams. And believe me, they are scams. I still don't understand why the Feds haven't closed them down. If you want to get some feedback from some of us who are owner operators or running our own authority, get their numbers and post them. I would love to talk to several drivers who have actually completed their leases.

Now ive read some fleece purchase deals and thought WOW how does the driver make money(CR ENGLAND) but then there are some that kinda look like they are trying to help the driver( DJ FRANZEN) it seems the smaller companies have the "best" deals if thats what you wanna call it(a deal)

I don't think there is such a thing as a carrier sponsored lease purchase deal.

[Sonny Pruitt]

First you would have problems with a truck already paid for at 92cpm

Kepp in mind that there will always be drivers who are successful at Lease purchase. The company controls the money and it is important to show prospective L/P that it is a good deal for them.So there will always be those guy around and they are usually trainers etc.

People always "run the numbers"
but do not take into consideration the "quality of life"

You are leasing from the very company that controls your money.
if your squelch is down right now :
THEY CONTROL YOUR MONEY!!!

this is a very frustrating busness to begin with
not getting home,family problems , excessive delays, short miles

If the company driver needs to get home this weekend
the disp will try to do it to keep his company drivers happy
(theres a driver shortage and he can move on to another company)

If an o/o needs to get home this weekend
the disp will try but he has to make sure he has enough power because
he has his company drivers to take care of.

When the L/P needs to get home this weekend..........baaaahahahahah



^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
The reason they have L/P is that they have a pool of power that cannot say no to ANYTHING for the duration of thier L/P
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

.......................................GOT IT?............................................... ........




YOU CAN'T LEAVE

If you stamp your feet and refuse a load and just go home they will punish you $$$$$$$$ until you cry uncle.

[marcel27208]

like you read in magazines about drivers l/p saying how they are on their 3rd truck with the lease purchase deal...now a lease purchase isnt something i would do but i believe there are alot of successful drivers who are making money

[Sonny Pruitt]

Read my post again

The companies make sure that a select group of L/P are very successful.

Then they can showcase them to the newbies and desperate.

[marcel27208]

GMAN...what do you mean you dont think there is a such thing as a carrier sponsored l/p? thx

[Sonny Pruitt]

The L/P deal is right there with getting rich by placing tiny ads in the paper

and make money in real estate with no money down

[GMAN]

GMAN...what do you mean you dont think there is a such thing as a carrier sponsored l/p? thx

I apologize, marcel. I left a word out of my post. I meant to say that I don't think that there is a good carrier sponsored lease purchase deal. Most of the lease purchase deals are carrier sponsored. Perhaps that is what I need to do. Offer a lease purchase deal for drivers, pay them $0.90/mile and get rich. :wink:

I have been told that Prime leases the same truck 3 times before someone actually completes the lease. That is not a good track record. Part of the problem with Prime and all of these programs is that they will rent these trucks to anyone who walks in off the street with a CDL. Not everyone is good at running a business. I don't understand why anyone would want to pay $800/week to rent a truck that they will never own and run it for $0.90/mile, when they can buy a good used truck for $500/month and lease to a good percentage carrier and make $1.50/mile or more. From a business standpoint, it just doesn't add up. Some people just don't want to see the realities of a situation. They see what they want to see. That is why most get caught up in these programs.

Those just starting out have no idea of what it takes to run a truck. They look at the revenue numbers and it looks GREAT! It is just that the realities and expense of running the truck outweigh the revenue you can generate with most of these companies.

I have looked at most of these carrier's programs at one time or another. My offer to take a look at any of these carrier's numbers is an open invitation. If I am wrong, I will gladly admit it.

[solo379]

We've beat around that subject so many times.... :sad:

Most people, want to become an O/O, for two main reasons;-

Freedom, and Money! 8)
And you could have both, in a properly arranged deal, but tho, there is Money w/o Freedom(some company drivers, doing very well), there is no Freedom, w/o Money.

With the high lease payments, and low mileage pay, you'd have to run 24/7, just to stay afloat. You'll see many thousands $$$, but just a tiny bit out of it, will actually end up in your pockets.
That's called "cash flow mirage"!

In an order, to call business successful, it supposed to make profit.
And profit comes after all expenses, wages and benefits, and there is no room for profit, in any of those "deals"!
Even those "poster boys" Sonny have mentioned, didn't make any!
Just brake down the numbers, and you could clearly see that! :sad:

But that's a problem! Those cons know, that most people, don't good with the numbers, or simply don't know enough about trucking business, to get a real numbers!
And it doesn't matter, what Sonny, Gman, I...and all others would say, they'll see only big $$$$on a surface, and fall in to the trap!

So, actually, i'm posting this, for very few, who have enough of common sense to listen, cause we've been around this business for a while, and have no reasons, for lying to you!
With all that said, i wish everyone, the very best of luck! 8)