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07-17-2007, 05:05 AM
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lease purchase=sucker
i think this is the only legal scam the companies can get away with
this by far is the biggest money maker for the companies
if you sign a lease-purchase, you accept being raped
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07-17-2007, 09:18 AM
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Quote:
Originally Posted by DD60
This is what is wrong with trucking today. :roll: 850.00 a week as an O/O??That is a big joke. After the social security tax,income tax,and maintenance(yes,trucks do break down) are taken out of that 850.00,you would make more money delivering pizzas. :lol: 614.00 a week is what the leases are running at? :shock: The best way to start out as an O/O is to buy a good used truck for around 35-40k with less than 400k miles on it and keep the MONTHLY payments at or below 1500.00. At 614.00 a week that comes out to over 2400.00 a month and you still don't own anything. VERY unrealistic.
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I said 850+, meaning 850 is the low end and I usually do much better than that.
I am not paying anything towards the various taxes or maintenance out of my take home pay; I have different accounts for those funds to go into before I ever see a penny. I have plenty set aside to keep uncle sam happy and to take care of any conceivable breakdown. Doing anything different would just be dumb.
If I could get financing for a truck I would do it in a heartbeat. Right now, I can't, so this is my best opportunity to make some money and learn what it is to run a truck at the same time. No matter who you drive for as a company driver, there are aspects to being an O/O you will never learn while driving someone else's truck.
In another 9 months I will have the chance to buy the truck and will probably do so.
As I said before, this is what works for me right now, it may not work well for anyone else. Just because you think it is a bad idea does not make it so for everyone else.
Dan
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07-17-2007, 12:46 PM
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Quote:
Originally Posted by SilverWulf
Quote:
Originally Posted by DD60
This is what is wrong with trucking today. :roll: 850.00 a week as an O/O??That is a big joke. After the social security tax,income tax,and maintenance(yes,trucks do break down) are taken out of that 850.00,you would make more money delivering pizzas. :lol: 614.00 a week is what the leases are running at? :shock: The best way to start out as an O/O is to buy a good used truck for around 35-40k with less than 400k miles on it and keep the MONTHLY payments at or below 1500.00. At 614.00 a week that comes out to over 2400.00 a month and you still don't own anything. VERY unrealistic.
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I said 850+, meaning 850 is the low end and I usually do much better than that.
I am not paying anything towards the various taxes or maintenance out of my take home pay; I have different accounts for those funds to go into before I ever see a penny. I have plenty set aside to keep uncle sam happy and to take care of any conceivable breakdown. Doing anything different would just be dumb.
If I could get financing for a truck I would do it in a heartbeat. Right now, I can't, so this is my best opportunity to make some money and learn what it is to run a truck at the same time. No matter who you drive for as a company driver, there are aspects to being an O/O you will never learn while driving someone else's truck.
In another 9 months I will have the chance to buy the truck and will probably do so.
As I said before, this is what works for me right now, it may not work well for anyone else. Just because you think it is a bad idea does not make it so for everyone else.
Dan
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I hope everything works out for you, be sure to keep us posted
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07-19-2007, 07:34 PM
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Quote:
Originally Posted by SilverWulf
Quote:
Originally Posted by DD60
This is what is wrong with trucking today. :roll: 850.00 a week as an O/O??That is a big joke. After the social security tax,income tax,and maintenance(yes,trucks do break down) are taken out of that 850.00,you would make more money delivering pizzas. :lol: 614.00 a week is what the leases are running at? :shock: The best way to start out as an O/O is to buy a good used truck for around 35-40k with less than 400k miles on it and keep the MONTHLY payments at or below 1500.00. At 614.00 a week that comes out to over 2400.00 a month and you still don't own anything. VERY unrealistic.
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I said 850+, meaning 850 is the low end and I usually do much better than that.
I am not paying anything towards the various taxes or maintenance out of my take home pay; I have different accounts for those funds to go into before I ever see a penny. I have plenty set aside to keep uncle sam happy and to take care of any conceivable breakdown. Doing anything different would just be dumb.
If I could get financing for a truck I would do it in a heartbeat. Right now, I can't, so this is my best opportunity to make some money and learn what it is to run a truck at the same time. No matter who you drive for as a company driver, there are aspects to being an O/O you will never learn while driving someone else's truck.
In another 9 months I will have the chance to buy the truck and will probably do so.
As I said before, this is what works for me right now, it may not work well for anyone else. Just because you think it is a bad idea does not make it so for everyone else.
Dan
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The math still doesn't add unless you are driving over 3500 miles every week. The lease payments ALONE are 614.00 a week. There is a chance that some succeed at these deals,but the chances are slim. Usually if one can't finance a truck it would be a good idea not to buy one at all. The revenue off the loads themselves is supposed to be enough to cover all maintenance expenses.
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07-20-2007, 12:02 AM
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Quote:
Originally Posted by DD60
Quote:
Originally Posted by SilverWulf
Quote:
Originally Posted by DD60
This is what is wrong with trucking today. :roll: 850.00 a week as an O/O??That is a big joke. After the social security tax,income tax,and maintenance(yes,trucks do break down) are taken out of that 850.00,you would make more money delivering pizzas. :lol: 614.00 a week is what the leases are running at? :shock: The best way to start out as an O/O is to buy a good used truck for around 35-40k with less than 400k miles on it and keep the MONTHLY payments at or below 1500.00. At 614.00 a week that comes out to over 2400.00 a month and you still don't own anything. VERY unrealistic.
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I said 850+, meaning 850 is the low end and I usually do much better than that.
I am not paying anything towards the various taxes or maintenance out of my take home pay; I have different accounts for those funds to go into before I ever see a penny. I have plenty set aside to keep uncle sam happy and to take care of any conceivable breakdown. Doing anything different would just be dumb.
If I could get financing for a truck I would do it in a heartbeat. Right now, I can't, so this is my best opportunity to make some money and learn what it is to run a truck at the same time. No matter who you drive for as a company driver, there are aspects to being an O/O you will never learn while driving someone else's truck.
In another 9 months I will have the chance to buy the truck and will probably do so.
As I said before, this is what works for me right now, it may not work well for anyone else. Just because you think it is a bad idea does not make it so for everyone else.
Dan
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The math still doesn't add unless you are driving over 3500 miles every week. The lease payments ALONE are 614.00 a week. There is a chance that some succeed at these deals,but the chances are slim. Usually if one can't finance a truck it would be a good idea not to buy one at all. The revenue off the loads themselves is supposed to be enough to cover all maintenance expenses.
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Actually, the payments are $443 a week. Not defending the lease guys, but if $850 a weeks works for him, that's all that matters.
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07-20-2007, 12:20 AM
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If at the end of the lease, you owned the truck, then I think it would be worth it. If not, why bother?
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07-29-2007, 01:18 AM
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sounds like a cr england flease purchase scam. i was passed the other day by one of those stupid cr england flease trucks with awhat appeared to student driving and and came 3 inches from wiping out my truck. they would have wiped out my truck if i wouldnt have taken evasive actions cause i work too damn hard to make it with my lease truck. what i mean my working too damn hard to make it is i want 40 grand in my maintance account and truck paid for asap. over 600 bucks a week for a payment it better include maintance, plates, and permits. i pay 421.88 a week for a payment, 251 a month for insurance, and with my fsc i pay anywhere from 70 cents to a dollar a gallon for fuel but i use my fsc as a bonus every week and dont even count that into my cost of operation. with my bills at home, 5 cents a mile into my company maintance account, truck payment, insurance, cell phone bill, food, car insurance and so on and so forth and fuel for the truck on a weekly average paying pump price at the national average it cost me $0.802 cents a mile to run my truck before profits and fuel is based at 6mpg which on a bad day i get 6.7 mpg.. also that includes money for my taxes. no i dont have a brand new truck no need for it i want to keep this 2004 running as long as i can. btw at the end of my lease my buyout is one dollar. if at the end of the lease i cant come up with the dollar somethings wrong. yes i have money on my debit card and yes i have an awesome mechanic i dont go to the chain truck stops for maintance unless its an emergancy repair. i take good care of my truck and in return it treats me good i fix small problems before they turn into major problems. i also have some drivers who have been sucessful owner operators for years giving me advice on how to keep my equipment in top notch shape
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07-29-2007, 02:28 AM
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Quote:
Originally Posted by rvrjr7
sounds like a cr england flease purchase scam. i was passed the other day by one of those stupid cr england flease trucks with awhat appeared to student driving and and came 3 inches from wiping out my truck. they would have wiped out my truck if i wouldnt have taken evasive actions cause i work too damn hard to make it with my lease truck. what i mean my working too damn hard to make it is i want 40 grand in my maintance account and truck paid for asap. over 600 bucks a week for a payment it better include maintance, plates, and permits. i pay 421.88 a week for a payment, 251 a month for insurance, and with my fsc i pay anywhere from 70 cents to a dollar a gallon for fuel but i use my fsc as a bonus every week and dont even count that into my cost of operation. with my bills at home, 5 cents a mile into my company maintance account, truck payment, insurance, cell phone bill, food, car insurance and so on and so forth and fuel for the truck on a weekly average paying pump price at the national average it cost me $0.802 cents a mile to run my truck before profits and fuel is based at 6mpg which on a bad day i get 6.7 mpg.. also that includes money for my taxes. no i dont have a brand new truck no need for it i want to keep this 2004 running as long as i can. btw at the end of my lease my buyout is one dollar. if at the end of the lease i cant come up with the dollar somethings wrong. yes i have money on my debit card and yes i have an awesome mechanic i dont go to the chain truck stops for maintance unless its an emergancy repair. i take good care of my truck and in return it treats me good i fix small problems before they turn into major problems. i also have some drivers who have been sucessful owner operators for years giving me advice on how to keep my equipment in top notch shape
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So just what does "flease" stand for/mean?
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