Best Lease Purchase Companies?

Cotter, you hit the nail on the head with one statement. The company is out to make money both in freight and off the L/O.

Hence the reason I said to give yourself a fighting chance is to go with a lease that doesn't tie you to the company you're leasing from.

Cotter, you hit the nail on the head with one statement. The company is out to make money both in freight and off the L/O.

Hence the reason I said to give yourself a fighting chance is to go with a lease that doesn't tie you to the company you're leasing from.

Great, any suggestions? I have found several lease dealers, but a lot of companies won't let you lease on without going through their preferred leasing company. I have seen several ads from independent brokers in my area that only take 5% of the load pay, and are looking for drivers to work with, but I would need to make sure they can keep me rolling.

Are you totally committed to leasing in general? In other words, are you open to the idea of going company at all? And if so, are you able to get out of your current lease fairly easily?

I only ask this because it seems you are making the same, if not less, than company drivers, and you have all this added hassle.

I don't have any experience with leasing, but honestly, I have serious doubts that you'd be able to find a better situation than the one you're in now. Any company you lease from basically holds all the cards as far as lease terms, freight availability, etc. I don't see how or why any company in that situation wouldn't do everything in their power to maximize their own profit and minimize their own risk at your expense.

I was thinking the other day: I bet companies push leasing so hard because they have such a tough time getting trainers, so by putting you in a position where you are totally dependent on something they have virtually compete control over (namely: your income), they can leverage you into training after a while to help meet their own demand. It sounds like that's what's happening to you. They've made it steadily harder and harder for you to make money as your experience level has gone up, and I bet they're hoping that at some point these factors will reach a critical mass and you will be forced to take on a student.

Are you totally committed to leasing in general? In other words, are you open to the idea of going company at all? And if so, are you able to get out of your current lease fairly easily?

I only ask this because it seems you are making the same, if not less, than company drivers, and you have all this added hassle.

I don't have any experience with leasing, but honestly, I have serious doubts that you'd be able to find a better situation than the one you're in now. Any company you lease from basically holds all the cards as far as lease terms, freight availability, etc. I don't see how or why any company in that situation wouldn't do everything in their power to maximize their own profit and minimize their own risk at your expense.

I was thinking the other day: I bet companies push leasing so hard because they have such a tough time getting trainers, so by putting you in a position where you are totally dependent on something they have virtually compete control over (namely: your income), they can leverage you into training after a while to help meet their own demand. It sounds like that's what's happening to you. They've made it steadily harder and harder for you to make money as your experience level has gone up, and I bet they're hoping that at some point these factors will reach a critical mass and you will be forced to take on a student.

Makes total sense. I'm not against going company, to be honest, I miss pulling up to a fuel pump and not worrying about decreasing my income and calculating just enough fuel to get me to where I'm going. I have spoke to some drivers that are company and steadily bring home $1,500 after taxes weekly, but who knows if they are truthful or what. I have found that either landstar or Schneider at least let you pick your loads from a load board, plan your route, and your own home time. At Prime, the dispatchers are some of the dumbest people I have ever dealt with, and have no experience whatsoever in planning your routes, so I am at their mercy so to speak. It is like me trying to tell a cardiologists how to perform a heart transplant.

Well a load board sounds like a good option. Without knowing anything about them though, I have a couple of immediate, knee-jerk questions/reservations about them:

Do they prioritize certain drivers over others as far as choice? Or is it just first come, first served?

Do they put ALL the loads the company has available up on the board, or do they reserve some of them for the company folk? If so, how would they determine which loads go to which group?

Are you limited to only those loads or can you go outside the company too? Like I delivered to a Menard's DC today and there was a sign that said "Drivers, we have outgoing loads available in almost all directions, please ask for details."

I was thinking the other day: I bet companies push leasing so hard because they have such a tough time getting trainers, so by putting you in a position where you are totally dependent on something they have virtually complete control over (namely: your income), they can leverage you into training after a while to help meet their own demand. It sounds like that's what's happening to you. They've made it steadily harder and harder for you to make money as your experience level has gone up, and I bet they're hoping that at some point these factors will reach a critical mass and you will be forced to take on a student.

Well done. That right there belongs in the hall of fame. You're seriously on to this game. Business at the corporate level is far more competitive and ruthless than most people would expect. When there are billions of dollars on the line the fiercest competitors are fighting tooth and nail for every penny they can get. And they don't care who they have to run over to get it. That's how the game is played. Just like in the NFL.....if you get run over, that's on you. You weren't ready to play ball at this level. Now you know. So if you don't think they'll do anything they can, including complex schemes like the one just mentioned, to make every nickel possible then you're underestimating them.

Cotter Pin, I don't have a suggestion for a company to lease with. But I'll say this - you're in the business stage of "There has to be an angle."

There has to be, right? You gave it a shot, it isn't going anywhere just yet, so you'll try a new approach. Either you're leased on with the wrong company or maybe leasing itself is the problem? You'll try a few companies and then go owner operator. You could try buying an old truck cheap and doing the upkeep yourself. But then it costs so much in downtime and upkeep you can't get anywhere. You pay more for a newer truck, things go well for a bit and you make the payments but then that truck gets like the last one and you have to shell out for another one. The cycle goes on for a few more iterations.

There are only so many angles. They've all been tried a million times by a million drivers. Trucking is a commodity. One truck only makes a small profit. Doesn't matter if it's leased or owned, new or old. Rates are as low as they can squeeze em.

3% profit margin doesn't make too many people rich, that's for sure.

If you do happen to find the angle that makes great money for one or two trucks then by God please let us know and we'll send everyone that way! There's a lot of people here that have waited a long time for someone to give us the answer. Right now, none of us know what it is.

Well a load board sounds like a good option. Without knowing anything about them though, I have a couple of immediate, knee-jerk questions/reservations about them:

Do they prioritize certain drivers over others as far as choice? Or is it just first come, first served?

Do they put ALL the loads the company has available up on the board, or do they reserve some of them for the company folk? If so, how would they determine which loads go to which group?

Are you limited to only those loads or can you go outside the company too? Like I delivered to a Menard's DC today and there was a sign that said "Drivers, we have outgoing loads available in almost all directions, please ask for details."

The driver I spoke to said that he doesn't have to compete with company drivers for loads, and that it will say available, which just involves clicking on it and its yours. This was a Schneider guy. Not sure about grabbing loads from available shippers that aren't on the load board. I have heard of smaller companies that allow this, because you have the option to negotiate your own rates, fuel surcharge, toll pay, etc. directly with the shipper , but the information I found about that came from a thread that was three years old.

As far as getting the truck, Lone Mountain isn't a bad place. Hell, you could get one through Penske or IdealLease if you wanted.

As far as who to lease to, Landstar isn't bad and I know guys who haul for Hall Brothers out of indianapolis, they make good money.

As far as getting the truck, Lone Mountain isn't a bad place. Hell, you could get one through Penske or IdealLease if you wanted.

As far as who to lease to, Landstar isn't bad and I know guys who haul for Hall Brothers out of indianapolis, they make good money.

Great thanks, I will look into them.