After only 4 wks of it i walked away worse than i went in. The same holds true for breakdowns and repairs not covered by any existing truck warranties. There is a lot of charges that lease purchase trucks don’t make sense. Now the question remains if I will be making enough money to pay my lease. I am currently in the process of signing on with Central Refrigerated for their training program.

However, many would-be owner-operators have to face the harsh reality that financial skeletons in their closets have put their dream out of reach until their credit situation improves. Jun a private mortgage does not require to unsecured loan up to 35k be directed on setting up a thing specific. For instance, if you base your profitability on your ability to drive an average of 3800 miles week in, week out, you lease purchase trucks will find that it’s impossible to meet that threshold if you take four or five days off in a given month. If you choose to lease or purchase a truck remember chrome dont get you home and it will make you broke fast.

Now there are alot of horror stories about leasing well do this and you will be sucessful. I liked flatbed-ding but not so sure about leasing Old equipment but when it is said and done I think that the y Boyd Bros deal above might be all right if he can sell his truck for $20 K as a Down payment for his own truck. You will receive better traing, and get paid a better rate.

I leased a truck a few years ago and I made very good money. I make 45cpm as a company driver right now as it is, 2000-2200 miles a week and home every Friday. If I was a company driver @ .25 same miles $625 my last company job was .36 pm $900.00 so who’s the fool.

I’m looking at leasing a new truck through lease purchase trucks a dealer and getting my own authority. You will have to pay special attention when signing your contract because the more you add to the contract the less you will be making. I’m doing lots of research on various load boards, ins.

Truckers are the heartbeat of America and they are treated and paid horribly. We have our own athurity, pay for everything. I see others paying less and just wonder if Prime is a raw deal or what. In addition to the cost of the tractor lease payment, many carriers will expect you to pay. Just make sure you learn what you need to know before you get into it, and I feel you’ll be fine. Which is somewhat understandable for those who might not be able to handle their finances so might not have the money to fix the truck if it broke down.

You also need to have breakdown insurance,the make that truck payment and provide you with income to pass a truck breakdown. Other drivers as well as myself knew the truth, neither of us had made any money, and were surviving on modest cash advances, week to week. If that is the case it still looks a good deal to me.

Patroll mistakes are there and as an owner operator you have to watch the statements real close. This has caused many drivers to question whether lease opportunities are an opportunity — or a pathway to certain financial ruin. We have strategically compiled our top ten top ten credit repair books on the subjects of credit score. Many carriers advertise their leases as being “walk-away” leases, meaning that the driver can simply walk away from their lease obligation if for some reason things don’t work out. This is a good article as far as it goes.

You do not get reimbursed for lumpers either. Talk to other drivers — If you’ve spent any time listening to truckers talk on the CB or in a truckstop, you’re very well aware that some drivers love to hear themselves talk. When on 10 hour break, only take a 10 hour break. At these rates CREngland was sure to receive enough revenue, to cover the weekly charges for trucks. Working about 6 day a week, I can on average make 2700 mile a week. You have better odds at most casino’s.

They could care less wether you were successful in your effort. However you need to realize that turning down loads does not work and going home more than 2-3 days every 6-7 weeks will not work. So, when a carrier starts leasing equipment, they WILL make money on lease purchase trucks that, which will make the deal “unfair” for the lessee.

But if ther is a mistake there are plenty of people on your side to make things work. Insurance is 4% of the value of the tractor annualy. Anyone know, I wish I read this article lease purchase trucks first before he went into this lease. A lot of good stuff, but like I always say, too good to be true.

Boy was that by far the worst thing i could’ve done. You are probably better off keeping the employee status and finding a good carrier to work for. I’ve see far more good paying driving jobs than fair lease programs.

Instead of your carrier deducting money from your settlement checks to cover federal and state withholding requirements, you will be required to file quarterly federal and state income tax returns, as well as to make estimated tax payments based upon those returns. After exspences and drivers pay we make 200 a week per truck. I was astonish at this and realized, all my efforts to be a successful business was to naught, and I was duped to only making trick payments, and company charges. I have been down that road and it wasn’t any fun. Be nice to everyone shippers recievers driver managers.

And once the equipment is yours you will start doing a lot better. For many drivers, leasing a truck has been nothing short of a financial disaster. Save your money, and then tackle being a business owner in the trucking industry.

As a solo, got an average of 1100-1300, miles/ wk., as team trainer, never more than 2100/wk. If you are just a company driver the number will be about the same. They say they pay 72% of the load to the driver and their fleet managers only make money if you make money. I grew up in this industry, it has evolved alot over the last 40 yrs., but I wouldn’t do anything else, I guess I just like getting paid to play with trucks. All lease programs are NOT created equal, and you must do your homework. If that is the case, be sure to include those items in your projections to ensure that you’ve taken everything into consideration.

Now about $ 3.00 per gallons of diesel and on average of 5.5 mile per gallon on 10800 % 5.5 I will need1964 gallons and $5890.90 but I will rather say $6000.00 and you all know why. The dispatch of Steelman will somewhat blackball ya if you don’t run the way they want you too. College loans with no credit check can be bad credit. no credit.w obtained by students with bad credit. I leased a truck from a Quality lease purchase trucks truck sales straight lease. CREngland just used you to keep their fleet new, have the expenses covered by the drivers. Not from the company that controls your loads.

While the terms vary from carrier to carrier, carriers claim that leases benefit drivers in a variety of ways, including. Also read some good industry publications {Fleet Owner is excellent and it’s free] lease purchase trucks and as the article said, don’t spend too much time listening to those who wax on. They make their paystubs so hard to read so you have no clue what you are being charged for on expenses.

Thank you, if any have a comment or any idea for me please send a message. This year they fired me 2 times, both times got my job back. If you want a truck get one, but not with a company. I love trucking,I love the freedom, but I don’t think I could be dedicated that much to being an O/OP.I will say your article has given me a new found respect for the O/Op.

Honda goldwing touring in cumberland used honda goldwings foreside, me honda. Oct buying a car during chapter bankruptcy am in need of a car. Keep in mind, too, that your initial point of contact at most companies will be the recruiting department — and recruiters are under constant pressure to fill seats with quality drivers. I have been off the road for about six years now. If you cannot save enough money to handle the unexpected events that will occur in any trucking business (living expenses, truck payments, maintenance, insurance, permits, tag fees, ect…), you will not survive this, or any other business long enough to see any real profits.

Apply here and get personal loans for bad credit, here you can get approved. Swift and FFE is the only two companies that will. My advice just say no to CREngland, both as a company driver and as a lease driver. Find secure home loans with competitive home loan lenders rates from citizens bank. I can’t say it’s impossible to be successful just because I failed.

If you are not one of the lucky few that has the money to really be in this business (1 out of a 1000), then opt for being a company driver. If you can’t make at least $1,500 profit a week, it’s not even worth it, IMO, I would rather get my own authority and work off of broker loads rather than be on someone’s lease program, at least I could get more miles if I wanted them, even if it means taking a lower rate. However, times are tough in the transportation industry. Try to apply some balance to whatever you hear.

Thanks to all of you for a fair and balanced perspective. If you think you will get rich it is not trucking where you should be working. So, I ask, how many H&W team running under those condition you know. Also would like to know about Dart and Greatwide thier lease programs. I heard JCT was a pretty straight lease program, I called them.ask a lot of questions and the more they talked the more they stumbled.

Those multiply by 4 make 10800 miles a month.

Seminar Series

Credit and Finance
Russ Wermers
University of Maryland
Steelman Transport has a good lease purchase program.
3007 BIF
2:30pm

Seminars

In the News

Faq questions on credit repair, credit repair faqs reports, and your credit score.

The only problem with lease purchase is that they do not allow you to have full control of your financial situation. If you cannot afford to purchase your own truck through normal financing (current economic conditions notwithstanding), then a lease deal is not a quick road to riches. I would strongly recommend that anyone planning on going into the trucking business [regardless of the years theyve been around] join a good association [such as OOIDA] that can provide support and information along the way. The bottom line is if you buy a truck you will still be working for the broke guy you see in the mirror. Yes,you will be leasing a use old truck the have been remove from you or some other company working line. DONT get suckered=all that money draining out of small bizz,is YOUR money.

In addition, as a lease operator you will be responsible for your own retirement planning, which will come out of the ever-dwindling pool of money left over at the end of each week.

Once you’ve signed on the dotted line and have begun leasing a truck is a terrible time to find out that a company is a poor fit. I don’t think it’s legal to get paid for them more than once and the contract states he pays the balance of the current year’s prepaid registration, which is nothing if another driver has already paid it. Do you want to be on the road for a month at a time. You can only legally work 14… If you think you’re going to make money sitting at the truck stop everyday you’ve got another thing coming.

The advice given by all seemed to have been true, based upon my personal experiences.

Stevens, landstar, us, all have this crap. If you make 40k a year as a company driver, and put away half pretending its your truck, you’ll get to see what its like to lease a truck. As it relates to trucking, understand how this business runs. Find a REASONABLE alternate financing option that will enable you to pay off your leasing contract if you are presently in an bad deal with a carrier. I would like to save up enough money to purchase my own truck, but don’t want to leave and find out that the grass is just as brown on the other side.

Smart Money Week

I stay out 3 to 4 weeks any given time, Thanks to Y’all for any advise reference leasing. If you can’t make money on paper, it’s highly unlikely that you’ll be able to make it work in the real world. I took some time off to figure out if this was what I waned I was out two months at a time three days off and Back out for two months. This pressure can bend some to the breaking point, which can lead to recruiters telling applicants what they want to hear in order to get them to orientation.

The University Forum

Carefully research carriers — Since you’re not looking for a company driving job, do a thorough job of researching carriers. Out of each paycheck, take half of it and stick it in the bank and pretend its for your expenses for the truck. Like I said I did well and in one year I saved enough money to get out of trucking and find a regular job and be comfortable. England, Inc., Landstar, Inc., Ledar Express, and Arctic Express, Inc.

Some, such as the Owner-Operator Independent Drivers Association (OOIDA) have successfully filed class-action lawsuits on behalf of drivers who have fallen prey to unfair or illegal carrier leasing practices. When figuring how much you can expect to earn, it’s of critical importance that you have accurate (and realistic) numbers.

While there’s very little doubt that leasing a truck may very well be a huge gamble for some drivers, it’s also true that there ARE drivers making money with a truck lease opportunity. After reading this article and all of the comments, I will go forward with the training but I will remain a company driver until I’m in the position to finance my truck through normal channels. If you already drive you have a good feel for what you’re getting into.