Lease Purchase Is anybody here in what they would consider at good lease or lease purchase deal?

[CMT]

Here's their link with a few quick videos on how their lease purchase program works. I just know he's very happy with their program & he's even upgraded to a newer truck recently and his balance paid was transferred over to the new truck so he didn't have to start all over again. He says it's the best lease purchase program he's seen in his 20 years of driving. Hope this helps!

Lease Purchase - RTI

 

[RamblingPete]

I w

Thats a risk of ANY of them I think. I met countless guys at ATS that were in the hole, and had been running six weeks...mysteriously enough...with just enough frieght to cover the truck. The engines and powertrains are warrantied to 500k, and ATS stands by that, but there's tons of other stuff on a truck that breaks, and that's all you, and your maintenance account. You'll start with 30 days bumper to bumper, and pick EVERYTHING YOU CAN...and get it fixed ASAP. After that, it's all you. Except tires. You "rent" tires.

To be fair, the economy was very slow then (which is why I went to a big company in the first place) and those guys were mostly on percentage. You really had to be an idiot (and probably doomed to failure to begin with) to screw up on mileage.

I think it's ballpark either way. Guys would stand around and argue for days which was better. I figured ATS wasn't going to let one group of guys (percentage vs. mileage) get too far out of league with another. Duh.

Would never do anything with ATS . I had a conversation with one of their recruiters and the guy was not only arrogant and so full of himself that I don't know how he has room left to eat but he was such a liar that after I pointed out to him he was lying and I had absolute proof of the lie he just went right on lying to me . I get trying to insult my intelligence but when you lie so much that you can't change up the lie when your called out ... well that tells me a great deal about both your own integrity and the integrity of the company that will employ you

 

[Electric Chicken]

A recruiter that lies? Wow that's a first.

 

[Curlytrucker]

Started Gordon trucking lease in 2014. Signed heartland express contract when heartland took over. Truck's been paid off for almost year now. Rate is 1.02, fuel is .30 currently, insurance monthly $325, all permits are paid, loaded and empty pays the same, empty miles avg around 22% of avg yearly miles, yearly miles about 140k. No it's not riches not some magical 3.00 a mile avg but it's secure, I know my customers, I know my contracts. And someday I will move on.

I'm not saying Heartland express is a great lease agreement and honestly don't have any idea how to start one if I was one of their company drivers but can say the experience I experienced was better than being a company driver at any company I've worked for in the past. I tell people that being a company driver is just pure stupidity, wasting your time in someone else's seat. What's the worst that can happen you fail?

 

[mndriver]

@JunkYardDog5958

 

[Mike]

Started Gordon trucking lease in 2014. Signed heartland express contract when heartland took over. Truck's been paid off for almost year now. Rate is 1.02, fuel is .30 currently, insurance monthly $325, all permits are paid, loaded and empty pays the same, empty miles avg around 22% of avg yearly miles, yearly miles about 140k. No it's not riches not some magical 3.00 a mile avg but it's secure, I know my customers, I know my contracts. And someday I will move on.

I'm not saying Heartland express is a great lease agreement and honestly don't have any idea how to start one if I was one of their company drivers but can say the experience I experienced was better than being a company driver at any company I've worked for in the past. I tell people that being a company driver is just pure stupidity, wasting your time in someone else's seat. What's the worst that can happen you fail?

Some people simply do not want the headache of running a business, and I can completely understand that.

As for the rates you posted here, seems low to me, but the truth is that every expense has to be factored in and compared to what the expenses would be if leased to another carrier, or if on your own.

I got my own authority partly because my 140-150k miles per year days are over. No way I want to approach those kinds of miles again in the future.

for some, being leased to a carrier is a good idea. I talk to people out here that simply cannot negotiate well enough to consistently beat the market average on rates. There are people out here, with their own authority (or working under someone else's), that still struggle to stay above $2.00/mile with a dry van, some even averaging below that still.

As for lease purchase, though, it's just not a good idea unless you have no other option or you are not fully committed to being an owner operator. A few years ago, I had my doubts as I had been a company driver for quite some time and it had been many years since I owned a truck. Not comfortable taking the risk with a family of 5, I leased. While leasing, I seen that I could make it, so I purchased a truck. Two years later, I took it to the next level of getting my own authority. For me, the latter is the only way to go at this point.

 

[Curlytrucker]

Well even with those rates I bring home 80k a year. Probably not this year though going to focus on some big repairs. My next move is going to be my own authority its where I always intended to be. All I was saying about lease is its better than being a company driver especially if your going to be otr anyways. Every individual has to figure out where their place is but listening to other people saying how horrible this or that situation is its not going to be the same for everybody. You truly only fail if you never tried to begin with everything else is just drama and education. But yes I agree with you entirely and I appreciate you sharing your experiences. You and m*driver (i forget his name) have posted info that's just incredibly useful. Though I'm taking a different path than you two you two have been helpful

 

[krelithous]

A recruiter that lies? Wow that's a first.

they promise you the moon to

 

[ironpony]

Well even with those rates I bring home 80k a year. Probably not this year though going to focus on some big repairs. My next move is going to be my own authority its where I always intended to be. All I was saying about lease is its better than being a company driver especially if your going to be otr anyways. Every individual has to figure out where their place is but listening to other people saying how horrible this or that situation is its not going to be the same for everybody. You truly only fail if you never tried to begin with everything else is just drama and education. But yes I agree with you entirely and I appreciate you sharing your experiences. You and m*driver (i forget his name) have posted info that's just incredibly useful. Though I'm taking a different path than you two you two have been helpful

Better be saving your pennies because this is an expensive business. Just say you're a trucker with middling credit to a banker, and they'll show you the door.

 

[Curlytrucker]

Better be saving your pennies because this is an expensive business. Just say you're a trucker with middling credit to a banker, and they'll show you the door.

I prefer not to credit anything cash is thy friend. Truck is paid off, cost of in frame already been put aside and building. Operating fund hmm not so great but I've got time and patience, was approved by my bank for a 50k loan but didn't need it after all. But pennies it always comes down to the pennies don't it?

 

[mndriver]

You and m*driver (i forget his name) have posted info that's just incredibly useful. Though I'm taking a different path than you two you two have been helpful

Me?

I cover my fixed costs plus $0.65/ mile for maintenance and fuel.

Past that, I just enjoy myself and when it's no longer fun, I go do something else.

 

[Ontario Outlaw]

Me?

I cover my fixed costs plus $0.65/ mile for maintenance and fuel.

Past that, I just enjoy myself and when it's no longer fun, I go do something else.

I'm not enjoying it lately

Something needs to change

 

[Electric Chicken]

I'm not enjoying it lately

Something needs to change

Same. I'm living paycheck to paycheck.

Not financially. Emotionally/mentally/physiologically. The money keeps me going.

I've considered even letting all this debt blow up in my face on purpose just so I can afford to do something else.

The debt itself isn't the problem, it's that I need this particular income to afford it and get ahead at the same time.

Currently in the process of selling some stuff off.

 

[ironpony]

I'm not enjoying it lately

Something needs to change

I'm sure there's a truck stop that would employ you to clean urinals...

 

[Ontario Outlaw]

Same. I'm living paycheck to paycheck.

Not financially. Emotionally/mentally/physiologically. The money keeps me going.

I've considered even letting all this debt blow up in my face on purpose just so I can afford to do something else.

The debt itself isn't the problem, it's that I need this particular income to afford it and get ahead at the same time.

I'm tired of the traffic, four wheelers, accidents etc making it tough. Losing parking lately isn't helping

If it's 500 miles away that should be 10 hours driving. Not 12 or 14, i don't get it

 

[Electric Chicken]

I'm tired of the traffic, four wheelers, accidents etc making it tough. Losing parking lately isn't helping

If it's 500 miles away that should be 10 hours driving. Not 12 or 14, i don't get it

Yeah I mean for me some of it would be solved if I could do the same exact thing except without sharing trucks, and in a longer wheelbase.

Some of my issue is the paper loads making a day cab feel like it's a half ton pulling a 40' camper. Some of it is 60mph governor. Some of it is crappy roads.

But then the rest is construction, traffic in the mornings, night time life, etc.

I dunno man. I keep pressing on but even just 3 years in it's already tiresome. I've been a 110%+ type though too. I got the same burnout at Amazon because I always went above and beyond.

Sad part is slowing down here makes it a normal paying job.