Quote:
Originally Posted by Rev.Vassago
First of all, notice I said "in many cases". Not "in all cases". 
A company who isn't paying enough to earn the owner of the truck more than they would if they were a company driver is a company that you are "buying a job" from. If, when all the expenses of the truck are paid (including taxes), you are earning at or below company driver wages, you have bought yourself a job. Sadly, there are a great many companies out there where you can do just this. Any of those companies where you are earning $0.85 - $0.90 per mile plus FSC. Any company who gives the gravy to their company trucks, and leaves the scraps for the O/O's. Any lease purchase company. All of them are selling jobs, and people are dumb enough to line up to buy them. |
In principle, the Rev is right here. But, he is missing one aspect of the situation. He admits that "all" the expenses of the truck are paid in this scenario. That would include the PURCHASE of the truck (in most cases.)
If, you can "buy yourself a job" WHILE buying yourself a truck, then when the job ends, you still have the asset of a truck. Company drivers who lose a job, have no asset except their CDL.
Unless my company job pays me enough extra in, say 3 years, to have the capital to buy a truck, then I was working for LESS than the guy who "bought a truck" and cleared only company driver's wages. The difference is the truck, and what one can do with it.
I would go so far as to say, one is not "buying a job" in this case as much as one is "buying a truck" with the promise of a job to afford the payments. This may not be optimal for some people, but for those of us who might not have the credit or assets to buy a truck outright, it serves a purpose.
Surely, there are better scenarios. But, for some this is not the worst of them.
This does not mean that I endorse MOST of the fleece purchase scams out there. But, that I see value in the principle. Before my company went under, I was seriously considering talking to the owner about such an arrangement. Had I done so, when he closed his doors, I would have had a truck to lease on elsewhere, (mostly paid for) and the possibility of a much larger revenue per load.
Of course, if the truck was not paid off at the time, I would also have a higher debt load and no option to JUST become a company driver again. There is much to consider before buying a truck under ANY scenario. But, it behooves the serious trucker to consider this option, EVEN if it is only "buying a job" for the duration of the truck payments.
That's just my opinion. I could be wrong.
owning you own truck?
