Whats the deal with Leasing a tractor ?

Is there some sort of freedom involved in this or is it

like a sense of pride in owner ship ? (or what)

I am lost about the desire to lease a tractor.

These machines are outrageously exspensive to operate

 

Freedom to pay outrageous lease payments, insurance costs, repair and maintance costs, fuel costs, all while you are still working for the company you are leased on, doing the same thing as the company driver, only you are paying for it all, but you do get to spend your hard earned money adding chicken lights because you can.

 

I just scanned the web and it dawned on me that leasing is a bit odd...

Sounds like you are buying a hole in which to pour money into....

sort of like a boat

 

There can be advantages to leasing a truck, it depends on the lease, but you should not lease a truck from the same company you are working for. When you do that you pretty much end up paying them to work there.

While you can and will hear of people who have done a company lease and been successful with it you will find 100 people who weren't for every 1 that was, and most of those people who failed were not stupid or lazy. It is just very hard to win when the pack is stacked against you.

 

Depends on who you talk to and which company you're leasing from.

It is NEVER EVER a good idea to lease a truck from the same company who is controlling your freight. Some are good about it, others(prime) are not.

I've talked with many a satisfied "O/O" in my company who are on their lease purchase program, and many of them are making good money at it. However, there are also just as many who are NOT doing as well due to their inability to run a business.

Good or not...I would NEVER lease from my company, just because there is a conflict of interest there. It's in YOUR interest to get lots o' miles and make money, it's in THEIR interest to let you have just enough miles to NOT succeed, and they get their truck back. Beyond that, if something changes within your company that you do not like, you can't take your truck and go elsewhere.

But, there is one advantage. If you decide to get rid of the truck and become a company driver(or even quit) many times it's much easier to get out of a lease than if you purchase one. With my company, you just lose your 1,000 down payment, and they'll take it back with open arms.

I'm not familiar with 3rd party leases, and I am not nearly as skeptical of them, due to the fact that you can take "your" truck and go elsewhere if you want.

 

Leasing is big business for the trucking company. These trucks have been "bought & sold" dozens of times over....the new "owner" is now responsible for all the expenses for that truck.....companies love these "owner op's" programs....once the driver leaves for many reasons....they simply turn around & lease again...over & over.....my best advice? STAY AWAY FROM COMPANY LEASES!!!!