Lease operator
I kind to new to trucking, i am thinking of becoming a lease operater. Do you think i should do it, what are the pros and cons, or should i just stick with company driver.
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I'd stay away from the fleece deals!
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run away as fast as you can screaming. You might see a decent paycheck every now and then but you will see lots of small and maybe even non existent checks. Fuel is now on you, depending on the company, the tolls might be on you, all expenses are now on you. Supose to break even you need to make 1500-2000 miles. What happens when your broke down for a week, that 1500-2000 miles just became 3000-4000 to break even the next week Not to mention you also have to add the cost to repair the truck if it's not warranty work, maybe a hotel. Also remember, not always will the company be able to run you that 1500-2000 miles, it's easy to get in the hole and hard to work out of. Don't even think of doing it if you have a fam that depends on you making a paycheck. Trust someone that tried to make it work, don't even try it. save your money and get your own truck, you'll fair better in the end.
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yes g, thats what I'm going to do. I know a few places I can make my own truck work but my experience with lease was realy bad. It's not that I have no idea on making it work. the cards are usualy staked against you from the start.
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It is very difficult to make a lease work when you get the truck from your carrier. |
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Expenses are far more then the income when you lease a truck, first estimate all the costs should be paid by you in comparison to the actual earning.
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pros:
long term investment boosts your credit score eventually you will have something to show for your hard work that you can take pride in load priority over a company driver after truck is paid for, you dont need to worry about running miles, and can literally take it easy. your truck, your rules(within limitations of contract) challenging cons: one sided contract all expenses are on you, which means you need to put the truck before yourself, your family, your own ambitions<====good if u dont have much family:) once paid off, its hard to sell challenging to the point of frustrating at times all in all trucking is about finding a rhythm. a set priority of what works for you. Everyone on these boards can tell you to run away from the lease deals over and over again until they are blue in the face. thing is, all the major trucking companies at one point and time were at the point where you are. Its about setting goals and taking the necessary measures to achieve those goals. |
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.
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