Lease operator

Reply Subscribe

Page 2 of 2

Thread Tools

#11

07-19-2011, 04:41 AM

crb

Guest

Posts: n/a

Don't listen to us nay sayers go fleece you a new truck and sink or swim.

Some companies do lease their trucks, but they lease them from another company they own. My guess is for tax or liability reasons.

Last edited by crb; 07-19-2011 at 04:45 AM.

#12

07-19-2011, 12:53 PM

1-Up trucker

Rookie

Join Date: Jul 2011

Posts: 38

Quote:

Originally Posted by crb

some companies do lease their trucks, but they lease them from another company they own. My guess is for tax or liability reasons.

^this

#13

07-19-2011, 01:05 PM

Malaki86

Senior Board Member

Join Date: Aug 2004

Location: Mannington, WV

Posts: 4,482

Not to mention the fact that some 'major' carriers founders have never even driven a truck in their lives. They just knew where to go for financial backing to get started.

__________________
My facebook profile: http://www.facebook.com/malaki86

#14

07-19-2011, 01:08 PM

1-Up trucker

Rookie

Join Date: Jul 2011

Posts: 38

Quote:

Originally Posted by GMAN

I am not sure that leasing a truck from your carrier would help your credit score. I doubt that any of them report to the credit bureau. Most major trucking companies did not start out leasing a truck from another carrier. The owners usually saved their money until they had a good down payment or enough to pay cash. Those who succeed in business learn to keep costs down and to maximize revenue. They put a business plan together and worked to achieve their goals. From the leases that I have checked, there isn't enough profit for one person, much less if you decided to put a driver in your truck. At most, you will only be able to get drivers wages. I know that the high failure rate of leases is not all the fault of the carriers who make the leases. Most who get involved in a lease will usually have bad credit and no money. Rather than working to improve their credit, they lease a truck and when that doesn't work out their credit is in even worse condition. There are no shortcuts when it comes to becoming successful.

CRE reports to equifax.....one of the many people who have since quit CRE whom i still keep in touch with stated that CRE reported him for being 6 weeks behind in truck payments. CRE never repo'ed his truck, however after 6 weeks of not seeing any $$$ he decided to hang up the keys.

also, as I recall jerry moyes' father (SWIFT) started with CRE.... source:
CR England - Wikipedia, the free encyclopedia

let us also not forget how Knight Transportation came to emerge out of SWIFT

also the following statement you made bears a lot of truth, but you also forgot to add the tidbit of passing costs onto others, which most of these corporate scum are famous for:
"Those who succeed in business learn to keep costs down and to maximize revenue."

i also like this part of your post because it says it all:
"There are no shortcuts when it comes to becoming successful. "

trucking isnt about fast money, its about climbing the totem pole, and EARNING it.

#15

07-20-2011, 12:28 AM

GMAN

Administrator

Site Admin

Board Icon

Join Date: Feb 2005

Location: Tennessee

Posts: 17,097

I think we scared the op off. :eek2:

#16

07-23-2011, 02:28 AM

1-Up trucker

Rookie

Join Date: Jul 2011

Posts: 38

Quote:

Originally Posted by GMAN

I think we scared the op off. :eek2:

i dont think they were scare doff so much as they (like a great many others) have a very strong opinion on fleece deals.

fact of the matter is some people can make it work, but most cant.