Looking for Advice on Leasing Programs for New / Old Driver.
 

I am look for advice on “Leasing Programs”. I have a very clean driving record with no felonies or misdemeanors for that matter. I have been out of the seat for close to five years now. I tried my hand at running a “Website Design and Small Home Improvement Company”. It is just getting to hard to line up new work in this economy. I have decided to shut them both down.

I am 100% debt free and am even willing to relocate if needed. I received my first Chuffers License from Florida in 1979. I went into the US Army, M60 A-1 Tanks. I have kept a Class A CDL all but 6 years of my driving career. Most of my loads were local moving heavy equipment. I would love to run a flatbed and in all my years of driving, I probably have less then 1000 miles in a box trailer.

Before I start contacting companies about their leasing programs, I just wanted to get some opinions / advice that were more educated then my own. I would love to hear from anyone that has used a leasing program or has first hand knowledge of someone that has. I truly do thank you for taking the time to reply. Dana.

I would advise that you don't go under a lease program, at least not yet.

It'd be best to sign-on as a company driver for a few months to a year, then once you got your feet wet, start exploring lease options.

...just my 2 cents :cool:

tho if you decide to go with a lease program i'd probably recommend one of the bigger companies like schnerider

good luck

Thanks for the advice. I was really hoping to hook up as a team driver but I am also looking into all options that are available. All the local companies say they need at least 3 years recent seat time. I am sure something will develop. Thanks again.

Dana less then 1% of lease programs make it. most drivers go broke. if you cant aford a down payment and start up cash then you have nobissness trying to be a o/o. go work for someone save for a few years and see what you have then. there are pleanty jobs driving out there for you,if your haveing problums finding them thats on you and what your thinking you need.

Thanks for the advice LogBook. I was not aware of the 1%. To read about the programs being offered, the companies have a much different spin on the numbers. I also realize that they are also the ones selling the program. I am already looking into driving for a company. I have a friend that just sent me an e-mail saying just about the same thing you did. I guess I need to do a little research on all the companies out there. Thanks Again!

I looked at a number of lease programs and never found one where the numbers came out. I have a friend who has been doing a lease for about 8 months. He is barely scraping by. His lease runs $650/week. That payment goes on whether he is running or not. He seems to be averaging about $750 after all expenses. If the company would give him longer and better paying loads, then he would do much better. That is one problem with most of these leases. My friend has had a few weeks where his net income was less than zero, due to having to take a week off to take care of personal business. I believe his biggest paycheck was about $1,500/week. When he began the lease, he was under the impression that it was a lease purchase and that he would own the truck at the end of the lease. After checking, he found that he is only RENTING the truck. Ownership is not available with his program.

Until you have the money for a sizable down payment and to run your business for a few months, or at lease a few weeks, find a company driving position. My friend has been offered a company driving position with another company and the rares are much better. He is in a difficult situation. He isn't getting the miles or making the income that he expectd.

Thanks for the info GMAN. Is he clearing $750.00 after all his expenses, ie: truck payment, food fuel ect? I do have enough finances to carry me for several months concerning truck payments. My situation is kind of like playing with a double edge sword. I have no debt, no credit card payments, car payments or house payments. No criminal history.

I have a Class A CDL with a very good driving record. I do not however have 3 years combined prove-able driving experience out of the last five years. I walked into a local company this week and they loved my record and background. They told me that since they run the 150 mile radius and were not required to fill out logbooks that they were also exempt from FMCSA regulations. I just walked out shaking my head. I have deleted 5 e-mails from them asking why I just got up and left. I answered the first one, I guess they just did not like my answer. I was not rude, I just told them that I was not prepared to lose my CDL to further their gain.

I can drive for several companies in my area but they are the ones placing the drivers at risk. I get tired of seeing ads from the same company stating: "Driver Needed, Must have Clean Driving Record". Most of their fleets are not that large and most of their "Snap Shots" are deplorable.

So now I am trying to make an informed decision. I thought about teaming up. There are to many cons for me at this time. So I will just keep running through the threads and weight all my options and see where I can fit in the best. Thanks again for the advice.

I leased my truck from 2008-2012 and didn't have any difficulties, though I had spent 16 months prior to that as a company driver (at a different company) researching all of my options. My advice for anyone contemplating a lease is to first work for at least a year doing the type of truck driving you are contemplating doing as a lease operator to see if you can hack it. The two biggest traps new lease drivers fall into are 1) running like they are a trucker that happens to operate a business as opposed to a business operator who happens to own a truck and 2) not running their truck efficiently in order to reduce fuel consumption and dramatically increase profitability.

I blogged most of my lease term at OTRjournal.com which you can read if you are terminally bored (something like 1,100 posts). I also posted my week-by-week, line-by-line settlement information in spreadsheet form on my financials page, direct link here: https://spreadsheets.google.com/pub?...LQ&output=html

Good luck,

Jim

JR OTR
I've really enjoyed reading your blog. I'm only into the Sept 2008 portion. However, I must compliment you on your writing style. it is very entertaining at times. Do you still work for Hills Bros? Do they run out west more or do they keep you running in that silly Texas, Nebraska, IL/OH Triangle? I have observed you travel up and down I80 quite a bit and was wondering about what percentage of their freight is along the I-80 corridor?