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Originally Posted by KaizerSoze
Nothing is foolproof, that's true. But I drive for an O/O leased to a container company and see what I could be making vs. what I am making.
What you are seeing is the GROSS cost - before expenses. Most lease/purchase plans have a WEEKLY payment of $500 or more - that equates to a truck payment of over $2000 per month. Most companies who offer Lease Purchase plans pay around $0.85 - $0.90 per mile. When you have at least $0.50 per mile going towards fuel, and another $0.22 per mile going towards a truck payment, as well as insurance, repairs, maintainance, taxes, tires, etc., the numbers just don't add up.
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I am realistic and know that I will never get rich, but once the truck is paid off things will be better.
Once the truck is paid off (at the inflated rate that L/P companies charge for it), it will be worn out, and either need a very expensive overhaul (at least $15,000), or will need to be replaced, giving you another truck payment. The average life of one of these trucks is around 5-6 years before an overhaul, given the amount of miles you will have to put on it to make any money.
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I'll never be able to save for a down payment and want to own. There must be a way. Thanks.
If you can't afford a down payment on a good used truck (probably about $5000), then what makes you think you can afford to fork out about $75,000 per year to own your own truck?