confused

[straightflush]

can anybody help with info about lease purchase programs.

[Jackrabbit379]

You basically make the truck payments for the company that you work for.

[Maniac]

Stay away from them,they are NOT designed with you in mind.

Do a search on here you will find out all you need to know

[GMAN]

can anybody help with info about lease purchase programs.

What do you want to know about them? Most who become involved with them fail. Few will complete their lease. The majority of drivers who do them could earn most money as a company driver. After looking at many of them, I would suggest saving your money and either paying cash or use conventional lending sources to buy a truck. It will cost you much less to buy than lease. You can often get into a good used truck with a monthly payment of about what some of these leases charge for a weekly payment.

[straightflush]

thanks for the advice gman ,i imagine that those companies squeeze on the drivers ,but i have no credit at all and it seemed to me the easy way to get into a truck ,but i ll try something different than what i had planned ,thanks for the help.

[GMAN]

If you have poor or bad credit you could save your money while driving and pay cash. You could save enough in 1-2 years to pay cash for a decent used truck. Putting back $100-200/week out of every check would enable you to start without any truck payments. If you pay a much higher down payment it might also enable you to buy a truck. It would take much of the risk out for a lender if you paid 50% down. $5-10,000 would be a very strong down payment on a $15-20,000 truck. I wish more drivers would save and pay cash rather than get involved in a lease purchase from a carrier. Regardless of how much you put back, it won't take all that long to save a nice chunk to buy your truck. I would commit to a minimum amount to save toward my truck out of each paycheck. Put the money in a money market account and the interest you earn will help you reach your goal sooner. It will take a tremendous amount of stress off your back to pay cash. And when the truck is paid for no one can come and take it from you because you are not making enough to make the payments. I paid cash for my first truck and trailer and have paid off several other trucks and trailers. It is a great feeling to make that last payment. It is even better to be able to walk in and pay cash. When you have cash in hand you can often negotiate a much better deal on your purchase.

[Tobytob]

Great Advice from Gman, I saved up enough went out and purchased a great truck for $18,000 with less than 550,000 miles on it. Stay away from the lease deals. As good as they sound I never met a person who owned the truck out right after paying a arm and a leg for it. There are plenty of trucks on the market right now for a nice price. Look around and find one. If you have bad credit or anywhere near a 650 give Northland credit corp a call. They are out of MN. My cousin financed his truck and trailer thru them.

[straightflush]

thnx gman thats exactly what i m going to do ,even though is going to take me at least 3 or 4 years to get there ,anyways time is still going to fly by.

[straightflush]

ohh i know rite now is the best time to buy ,just not enough money but is cool ,and tobytob let me tell u my credit score is so low that not even chewing gum i get on credit ,hahahahahahah,thanks 4 ur help guys.

[straightflush]

i m on it maniac thnx for the advice.