Lease Purchase

Topic 17325 | Page 1

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Young Gun's Comment
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What are pros and cons of it cause I'm strongly considering doing it?

Old School's Comment
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Young Gun, as a general rule we don't recommend leasing a truck. You didn't give your reasons why you were interested, but for most people it is the desire to make more money by leasing. That is a crap-shoot at best as far as I'm concerned, but you are the one rolling the dice, and many people just seem to think that they are so special that they can beat the odds. We have had some successful lease operators in here in the past, but to be honest with you they were by far the exception. I can remember GuyJax leasing some trucks, and he did well with it, but he was extremely disciplined about his expenses, and ran like crazy. After a few years he realized how hard he was working and really only making an insignificant amount of "extra money" when weighed with the efforts it took to do it. He soon went back to being a company driver, and relieved himself of a lot of undue stress.

Here is a link to a very informative Article Concerning Leasing Trucks.

We have had in the past a lot of discussions on this very topic. If you want to take some time and do some reading you can find a lot of information regarding this subject by reading these Discussions Tagged About Leasing A Truck.

Errol V.'s Comment
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I just thought I'd a metaphor for opening & operating your own truck.

You can get your truck business to "run on all cylinders". But you fire those cylinders by playing Whack-A-Mole. It's possible to be successful, but it ain't easy.

whack-a-mole-o.gif

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Bud A.'s Comment
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I leased for 16 months. During the first year, I made about 2 cpm more than I would have as a company driver, and that's assuming I wouldn't have gotten a raise as a company driver during that time. The last four months were so bad financially that I left the first company for another as a company driver. I increased my income by 40% and left behind a lot of stress.

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

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