lease purchase, the real skinney
 

Ok, I have tried to read and find out, but its hard to sort the real deal from the "i'm pissed at the company so no one should drive for them" folk. I am looking for a lease purchase program that truly gives me a chance to come out on top. I know its hard work, long hours but never been afraid of that. I just have had a run of why am I doing this jobs and want to get on the road.

I would appreciate any and all who have been there and done that to reply. Here is the kicker, CR England, has the most logical layout of their program and seem very up front. The problem is have you tried to find a good word about that company that is not tied to their own site !!! Are they really that bad and who is better?

Thanks.

Re: lease purchase, the real skinney
 

get out of trucking would be my suggestion

No Lease Purchase deal is good for you as the driver/"fleecee".

Its been beat to death on here. Use the search feature.

They are all a rigged game . Even IF everything goes right and you run a ton of miles makeing a bunch of $ for the company you earn a bit more than a company driver while taking on significantly more risk.

Re: lease purchase, the real skinney
 

With the exception of a home, leasing/renting anything is a total rip off. All your doing is making a truck payment for the company. Save a good 20 to 30 thousand and make a good down payment on a used truck, your better off that way.

explain why you want to do a L/P deal insted of saving for a down payment and buying your own truck?

Actually leasing can be a good business decision for many reasons and companies do it all the time. Free up capital, no hassle return of depreciating assets... etc.

BUT...with regards to LEASE/PURCHASE it is mostly a bad deal. If you want to lease, why not lease from a national leasing company so you can switch companies if you need to?

The reason many do the L/P is that their credit is poor or they don't have enough capital to fund purchasing (or leasing) equipment on their own. And since nothing is free in this world....you've got to give up something to get into these L/P deals....and that is freedom: you are at the beck and call of the company you did the L/P with...they own your miles and you.

My own opinion is that if you can't afford to buy or lease your equipment independantly then you should think long and hard before going with a L/P. Remember....the company offering L/P's is doing it for a reason and your financial success is not it!! Ask yourself why they wouldn't simply use O/O's? There's a reason.....[/b]

Re: lease purchase, the real skinney
 

I don't understand why you would think that CR England or any other carrier has a good fleece deal. You have no experience in this industry. You have no way to adequately evaluate any fleece program. Do you know what it costs to operate a truck? For you to be able to evaluate one of these programs you would need to know what it costs to operate your business. You need to know your personal limitations. The only way to do that is to drive for a while. I don't understand why you would want to put yourself in such a position as to jeopardise your financial future by getting involved in one of these fleece programs. I have yet to see one where you can make as much as a company driver. If you truly want to be an owner operator, save your money and buy a truck. If you gain some experience and buy a truck you will have a much greater chance of being successful. This is a demanding business. It can take a lot of money to operate and keep the fires burning. To give you an idea, two weeks ago I spent almost $7,000 on one of my trucks. Yesterday I spend $2,700 on another one. I always recommend that anyone who is thinking about buying a truck to have money set aside for emergencies. Trucks break down. It doesn't matter whether you have a new truck or older one, they all will break. When you lease a truck from a carrier, you are usually responsible for all maintenance expenses. If something happens you are the one who must pay for repairs. Keep in mind that not everything is taken care of with a warranty. Don't be in such a rush to become an owner operator. Learn what you are doing first.

It's simple math. Lease $7-1000, $5,000 for fuel, add to that....insurance, taxes, etc... leaves nothing for the wife and kids. The only way that I have seen to even make money is to buy your own truck (used), do a good bit of your own PM (if possible) and you still have to drive you head off. The only way to make money is to have a small truck payment READ big down payment. I am not in the business but so far from my research it doesn't take a rocket scientist to run the numbers and figure out that lease/purchase is a huge scam.

I give up. No need to keep this thread going, Every company is out to take every driver. No dispatcher ever tells the truth. All truck drivers are doing it for free, They just keep beating themselves in the head because it feels so good when they stop for a minute.

The question was are any better then any others. Yes my credit sucks. Yes I cannot make enough to save a down payment at the moment. I know I trade freedom for the lease. I'm willing to make that trade for a new start. I would think it goes both ways. The company needs to keep miles for you to get the rig payed for. Of course there in it to make money for themselves, that is the definition of a business.

Now that your all probably peed off at me, can anyone help with my trying to make the best of a bad situation?

Now, I finally found an article that seems to tell the truth in a way I believe.
http://www.landlinemag.com/archives/...ures/I376.html

ok folk, you win. Back to company driving.