Quote:
Originally Posted by Rev.Vassago
P.S. Swift sucks, and any company that does lease purchase sucks.
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That's brilliant, rev. Is that a personal opinion, or the sites opinion? I'll let Swift the advertiser take care of themselves. As for me . . you're a perfect mythbuster.
As to the original post, that non compete language would be entirely unenforceable for the reasons many others have wisely pointed out.
As for leases in general, I have two major problems with them:
1. The companies that offer them (most) make them available to Drivers with too little experience. It creates a very expensive burden to someone who may not yet proven to themselves that trucking in any capacity is worth that kind of commitment. It forces the Driver to "Drive whether you like it or not and earn what you can or don't drive and you'll be financially ruined".
These companies prey upon the egos of the BBR wannabees by very insidious means: Make more money? Absolutely! And you can skip the part about driving someone else's headache and go straight to brand new, better specs and all that chrome plus we put 'em out at higher speeds! What more could a BBR want?
2. Assumption of risk vs. the illusion of ownership. Drivers with no demonstrable business acumen make an emotional decision to assume more of the risks which they are typically unprepared to do for no significant increase in return . . mo money . . , or worse.
There is a statistical probability you will have an accident or other expensive incident no matter who you are or what you drive. In a fleece, you need to drive your arse off in order to come out ahead (and nowhere is it guaranteed you'll get sufficient loads to accomplish this). Driving your arse off exposes you to greater risks in every possible way; from simple time on the road and a greater urgency to meet commitments to a willingness to "fudge a little" to get the job done. Big companies have resources to address problems big and small and keep the freight moving. Rookie BBRs don't. Don't bother looking to the company for help if you find yourself in hot water.
As for the upside . . well, there is one. Done properly, a fleece can be the means to launching your own business if you can adhere to a few simple suggestions . .
If you've been at this for awhile, 2 -3 years at a minimum, and you have proven to yourself you are able and you'd like to make a career out of this, to become a legitimate owner operator, and THERE IS NO OTHER CONCEIVABLE MEANS to do it, read on . .
First, you'll need to team or train for the life of the lease. These are the only two scenarios that can substantially improve the likelihood you'll get sufficient miles to achieve your goal.
Get an aggressive and successful accountant who is very familiar with every nuance of trucking by the numbers. He/she can walk you through a little crystal balling to set realistic numbers that will give you a very real sense of what to expect from yourself. You'll be set up with a very specific system of accounts and you'll need to be a fastidious record keeper. You should expect to meet quarterly.
Meet your banker in person and discuss your goals and objectives and establish benchmarks that, when achieved, open the door to better credit. Plan on meeting at least twice a year or as your benchmarks have been met, exceeded or when they need to be changed.
Find a good general business lawyer. Get a review of the lease so that you thoroughly understand your commitments under it. The lawyer will also help you with the best way to structure your business, within the confines of the lease, to minimize your exposure to risk. Don't go to the lawyer with the idea you'd like to make a few changes for "The Company" to consider . . they'll tell you to go sheet in your hat. Plan on meeting with him/her only when necessary but certainly in the event of a ticket or accident.
Shop your insurance CONSTANTLY. Different companies have different benchmarks for time and miles. Insurance agents and companies are *****s with whom you should expect no relationship. Keep an eye open for the best coverage at the lowest expense.
Now, do all this while you're on the road in the company truck getting all caught up in the emotional choice of signing that fleece or, do as most do, skip the advice and dive in, sink or swim, fall flat on your face and come back here and tell us all how fleeces suck.
Edited to add . . A successful fleece can establish excellent, big ticket credit. Your future doesn't necessarily have to include a life of trucking. You can take that credit and fulfill a different dream, so long as you're clear about that with your banker, up front.