Jct Lease Purchase

Topic 16077 | Page 1

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John S.'s Comment
member avatar

This is just my experience. I gave it a shot. Like most big companies i was promised all kinds of great things by recruiter. Told how i would have my pick of truck. And if they didn't have what i want any and all payments would carry over to new truck when arrived. I was also topped that if it didn't work out that they would get you back home at their expense. The only thing they promised that i really got was alot of miles.

First off. When you stay out for 6 weeks and take 5 days off. Well. Your paying for days off you earn. You go back to work owing about $600 that comes out of your next checks til paid. So basically your going backwards when you take off days you earn. Understand also that this is a lease. They say lease purchase but you have to lease for 5 yrs before u can own it. So basically they give you older trucks with almost 500k miles. You pay about $1000 week for lease with good miles. You make about $3600 per week. But after fuel.

Lease and other payments you end up with about $1000 on 3000 mile wk. Now keep in mind this is 1099 contract. So after you put 25% ($250) away for taxes you made $750 for 7 days (14hr days) staying away from home. Also keep in mind these older mid milage trucks are already paid off few times. Average $2 mile most make companies that is. So 500k mi truck has made a million dollars. Now i know they don't get all that but i guarantee after all the fees taxes and baseplates etc. That truck still has been paid off at least 2 times. So they keep you in their already old trucks to squeeze every dollar they can out of them. Im not blaming them but that wasn't the agreements i had emails for proof. .

But once i quit other company and get there. My promising recruiter of 16yrs suddenly no longer works there. Hmm. Also it takes alot longer than the 90 to upgrade to new truck. And after getting my final settlement. They charged me $175 for bus ticket home and $25 for taxi to bus station. 16hr ride of crammed up hell. Lol. Now I'm not complaining. I'm home and putting my own outfit together. The only reason i got into this. Experience. You will get different answers from different people here. Some will tell you it's lease purchase others will tell u its just a lease.

I have talked to few that dis really own the trucks but after they pay over 160k on 2014 truck with 500k miles. Jct buys it back for $25k cash..then leases it out all over again. Please don't let this discourage you if you plan on a lease purchase. I'ts a walkaway so it may be for you. But i would rather be honest than tricked and suckered into something. Most will say $750 after taxes is good money plus your buying a truck. But how many can stay out on the road for 5 yrs without hometime. Cause any and every day off you take costs you money. Plan on coming back in the hole. One positive thing is you're your own boss.

You can refuse loads and take off any and as much as you want. Now i did recently before i quit take some emergency family time. I knew the cost of this already so it wasn't a shock. I expected it after the first couple days off. If you have a team companion. This may be a good deal as you pay double lease payments and may own it quicker. But as Brett and most say. Its not worth the hassle to make the same money. What i mean by hassle is being reapinsible for your own taxes. Expenses. Paying for lease and permits etc while on days off. You basically have to stay out on the road all the time and forget days iff to stay ahead.

I called this morning and asked why do they bring you out and if u quit charge you to get back home. All she said was if you quit us we ain't gonna pay for you to go home. So basically if i had a short trip with low mikes i would have been digging in my wallet. Also keep in mind that it takes about 1800 miles to pay for all the expenses. The remaining miles after that is your pay minus 25% for taxes you need to put away. Gd luck . When you come back off days off owing a full check you may to need to start using it lol. My overall experience with John Christner trucking was just like the rest..they will promise you anything to get you there..once they got you, you are then just a driver...as are any company.

Now believe me i asked all the right questions and for 2 months they called me making all these great promises. Making it sound too good to be true. Well for me it was. I did enjoy the experience and you will never see me ask them for a job. Not even if o was starving. Just wasn't for me. I need to make money. Not make them money. Gd luck stay save and GOD BLESS driver.

OWI:

Operating While Intoxicated

Daniel B.'s Comment
member avatar

20 bucks to whoever reads that entire book without stumbling.

I survived 1/3 of the way.

Old School's Comment
member avatar

Daniel B - you owe me twenty bucks! smile.gif This post, while difficult to read through, confirms all the warnings we try to tell people about leasing. And it comes from a person who was actually a lease operator. Take heed!

What's really confounding about this post is this statement that he threw into the mix...

Im home and putting my own outfit together. The only reason i got into this. Experience

That right there says, "I got all this experience, but I haven't learned a thing."

I'm not sure why it's so hard to figure this thing out, but our friend John S has decided to keep beating his head against the same old wall. Oh it's a slightly different wall, but probably even a little harder than the first one he tried. At least on the first try he had team there to back him up and help him get freight.

Anchorman's Comment
member avatar
Now believe me i asked all the right questions and for 2 months they called me making all these great promises. Makingvit sound too gd to be true.

Moral of the Story:

If it sounds to good to be true, IT PROBABLY IS!

Please dont let this discourage you if you plan on a lease purchase.

I DISAGREE, please let this discourage you!

But as brett and most say. Its not worth the hassle to make the same money.

Don't say we didn't warn you!

Rick S.'s Comment
member avatar

Basically confirms everything that's been said here for years about leasing.

I would consider one - with an ACTUAL LEASING COMPANY, so I could take my ball and play elsewhere. I'd also go in with big cash down, and firm buyout price and a no-penalty early payoff clause.

But I wouldn't really want to do that - because I want THE COMPANY TO:

1 - Be responsible for maintaining the equipment - I just want to get paid to drive it.

2 - Be responsible for doing my withholding, and paying their 7.5% share of my FICA.

3 - Be responsible for IFTA, KYU and all the rest of the fun regulatory stuff.

4 - Help me out with my HEALTH INSURANCE, cause it ain't getting no cheaper.

I'm not interested in running my own business - been doing that for the last 30 years. I'm interested in "punching a clock" (so to speak), and coasting the last 10-15 years of my working career.

Rick

G-Town's Comment
member avatar

I find it interesting the OP doesn't want to discourage anyone from becoming a L/O.

No worries about that. Leasing far too often is an emotional and at times impulsive decision. Even reading an experience as posted, likely won't dissuade someone convinced they can make it work cause they have it figured out and all the angles covered.

Sambo's Comment
member avatar

I'm not interested in LO or OO, but I am curious, is there ever a situation where LO or OO works?

From all that I've seen, it just doesn't work, so, unless there is a scenario where it does, why would anyone ever want to pursue it?

Cwc's Comment
member avatar

Daniel I'm honest... you don't owe me a dime.

ChrisEMT's Comment
member avatar

From what i've gathered the only time it works out where you make enough more after you put away for all expenses, taxes, etc. is if you can afford to buy the truck outright.... then you get a bunch of other headaches....

DAC:

Drive-A-Check Report

A truck drivers DAC report will contain detailed information about their job history of the last 10 years as a CDL driver (as required by the DOT).

It may also contain your criminal history, drug test results, DOT infractions and accident history. The program is strictly voluntary from a company standpoint, but most of the medium-to-large carriers will participate.

Most trucking companies use DAC reports as part of their hiring and background check process. It is extremely important that drivers verify that the information contained in it is correct, and have it fixed if it's not.

John P.'s Comment
member avatar

Don't knock the man for trying to show what can happen and I wish him all the luck

double-quotes-start.png

Now believe me i asked all the right questions and for 2 months they called me making all these great promises. Makingvit sound too gd to be true.

double-quotes-end.png

Moral of the Story:

If it sounds to good to be true, IT PROBABLY IS!

double-quotes-start.png

Please dont let this discourage you if you plan on a lease purchase.

double-quotes-end.png

I DISAGREE, please let this discourage you!

double-quotes-start.png

But as brett and most say. Its not worth the hassle to make the same money.

double-quotes-end.png

Don't say we didn't warn you!

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