If you are a company driver you're buying them a truck also. It's baked into your pay. As a fleece purchase driver they just reach into your front pocket. They rob you in your face. A company driver has hands going into his back pocket and getting robbed without knowing it.
@@Peterblack12Eh, not really if you really think about it….. Yes you definitely make less net but you have to look at the bigger picture…. That’s what the company does after all…..
@Kw-xt3xk but the new trucks are 120k to 180k now with a ton of terrible engineering forced on them from the epa buy a truck pre 2007 no emissions for 30k rebuild engine trans and axles for 20 - 30k new tires are 5k then you have a reliable truck with no emissions for less then half of new
@@kennethryan8112Exactly. These new trucks are garbage and can cost you just as much as an old truck but older trucks are better. I'd love a 2004 Western Star 4900EX with a 60 Series or, preferably, a 6NZ. You Won't find either in the new garbage, plus, as you said, no emissions to worry about which is the biggest issue with the newer trucks. Also, no need to waste money on DEF and instead can put that wasted money towards actual fuel. Right now I'm looking at a 1985 Freightliner FLC with a 90" custom sleeper, 400 hp CAT motor, 15 speed manual, 3:55 rears and, best of all, 4 X 150 gallon fuel tanks. She's a beaut.
@Kw-xt3xkno you should be starting with as little debt as possible especially today when we are one hiccup away from a depression. You didn't live through the recession in 2008 and it's obvious. Debt is for expanding not starting. When you default you will lose the trucj
@shaydesofblue2281 I did before buying my own truck. The deciding factor was when I ran a load from breezewood PA to Indianapolis IN for the same amount my cousin ran a load from breezewood to Columbus OH for the same price. Both of us had identical jlgs going to dealers. My company told me I was nuts for expecting 1.50 a mile. Lease company's don't care about the rates they just want to book loads to take their cut.
Another reason, some use those drivers to pay for those trucks. Many contractors pay full for brand new trucks and once it's paid off, talked into a new lease. That truck that's paid off, the company buys back partial value to put a company driver in
National freight used to supply them with at least purchase and then take the truck in for repairs over charge and cut out their loads so then they lose it and they sell it to the next sucker after they repoed it
Also, to make more money with less liability. Case in hand, I was talking to a nova driver, and after doing the math, it came out that he was buying the truck at just shy of 3 times of what a new one would cost, and his was used. Unfortunately, it's a legal scam. But yet, if you're unwilling to read or have common sense, than you get what you get.
A lot of companies will give you a truck and we are almost about to pay for it they'll give you less work for you to quit and you get nothing and they'll give it to another person and make more money off of that truck
There’s zero money in trucking today . I remember fuel costing .69 cents a gallon and we were getting .92 / 2.45 a mile . Now , it’s five bucks a gallon for 72 percent of 2.90 , if your lucky . Trucking is officially over . Thank you to all the government regulations, rules , policies and laws .
Don't forget the trucking companies that mysteriously stopped scheduling the driver about 3/4 of the way through the lease forcing the driver to sell the vehicle back to the company and now they have an indentured servant.
If it wasn't for lease purchase I would either have no truck or bad credit or both. 1st time was a walk away leave on a new truck but I was to new and the truck was the one built on a Friday before a Holliday. Turned in no blemish on my credit. 2nd try was a walk away on a 5 yr old international. Went good until covid when the contract rates plummeted. Turned in again but had the money to get my International Prostar from loan mountain at 1/2 the payment before the costs skyrocketed same company took back. There was no way to earn enough company side to save the down payment or to have the maintenance account needed. It's a safe way to learn what it takes to be an owner opp. Only caution would be do not think or assume you will pay off that lease purchase from a company too many of them simply won't allow it.
You got a watch for the companies that do this and then stop giving you work just before the truck is paid off I had a company do that to me when I only have four payments left they stopped giving me work but they weren’t very smart with the contract. I was able to pay it off and leave with the truck.
And no mention of predatory lending practices? Or reducing company overhead by shifting the responsibility to the "lease contractor" or the fact that some companies will lease a tractor, get a couple years payments out of them. Then starve them out, put another driver in that truck and rinse and repeat...
You left out the fact that they’re going to charge you around $200,000 plus interest when you could just buy a used truck doing engine swap and transmission swap and end up with a new truck for around $80-$100,000 as well as be pre-ELD and DEF
Eld and def are good. Def rigs post 2017 are getting 7-12% more fuel efficiency as an average and at a cost of 1-2k to save 5-7k on fuel… filter gets serviced once every so many miles. ELD protects you in the court of law against dot if you’re logging correctly and helps you down to the minute and second whereas a paper book has 15 minute margins for error. Also ELD proves you at least logged pre/post and breaks, sleeper birth and 34s/ PC. Combined with a tracker on your rig/reefer/trailer if O/O etc you can get out of many possible violations and CSA where as a log book is just a drawing on paper that could of been done at any time.
Well some lease purchases are good deals but most lease purchases are money pits where the only one that make any money is the company leaving the driver to exorbitant and over inflated maintenance program and and a finsl balloon payment.
I don’t like the idea all together. But I take care of my truck like Ionut. I can’t on that truck to get me from point a to point B without leaving me on the side of the road. But I will say this, there are a lot of drivers that will literally run a company truck in the ground. And believe it or not sometimes you wonder what is cleaner, a landfill, or that driver’s truck.
If you for one second believe that these companies do it for the driver, you're sadly mistaken.. once you get close to paying it off, the freight "vanishes". Being an owner operator is nothing more than an company driver with all the financial responsible on the driver. It's just not worth it! Run far and fast!
Companies could also choose to pay a good salary and offer good benefits as a way of retaining drivers, but that would hit the bottom line too hard. It's easier to push the responsibility onto someone else (more cost effective for the business).
Im going to do it. Going to find a walk away leasing option and go hop in the truck. Use that to practice while my truck sits right where its at. And when im done practicing with their truck, im handing it back and going about my day 😂😂😂😂😂
Leasing from a company is for suckers. If you want to lease then get a loan from your bank. You can then change companies without losing your truck among other things.
I got my truck through a lease agreement but only for 3 years instead of 6 because I figured out if I drove the truck as a company driver then the value of it would drop.
Your spot on. But also , if companies would pay a driver enough (Lease op) enough money; the lease op wouldn’t have to become a slave on wheels. It’s a sweatshop on wheels. Your married to that thing once you sign. Say goodbye to your life style, say goodbye to your family , your vulnerable to the bad economy and any down turns in the freight market . A slave . And in the end you’ll be broke . That’s the reality . Oh but I’m sure your company is different though right? I’ve heard it all in my 30 year career. A fleece program is never good.
And when the co. takes that truck out of service, they sell it. Or get some young kid to buy it thru a lease purchase. Several years can go by, and the guy who lease purchased might think he can do better somewhere else. Now anything he had invested in the truck Is gone.
Bro videos helping drivers or those looking to get into it are awesome. Also maybe talk about hotshot stuff or how to work with brokers using your own 3/4 or 1 ton truck.
To those drivers that are new ...safe your money then buy your truck...this leasing is a scam.....scam .......if it's explain to you and it starts to make sense....stop it's a scam.. period
I was a tireguy in the late 80s for Laidaw. Record for never never plan on the same truck was 6 leases. When I seen one against the fence Sunday, I got it ready for paint wheels Monday
In today's market is it even worth it? I did a lease before and it left me broke truck kept braking down and needed tons of work and it was forced dispatch and home time wasn't even available not cause it wasn't there but because I couldn't afford it and I felt like a slave not a driver. What's your thoughts
So the real answer and dirty secret of the business is the reason they do this 0 liability for the company they pretend to give you a good deal by giving you big fuel discounts that they contracted through truck stops all while you make a lease payment of 800-1200 dollars per week while paying you $1.20 a mile or there about and then give you between 2200-2800 miles per week so after you pay fuel your lease payment and taxes and the auto deduction to the repair account you get to take home $50 for the week but remember you get to tell your friends you made $200k that year
@@jarrodschobert9763 depends on the company I guess. I'm an IC for a mega carrier and I average over $2.00 (66% of haul and 100% fuel surcharge) a mile most weeks and I choose my own freight . On pace to net over $75k this year with a 3 week vacation tossed in there. Netted $62k last year with 2 months off for family reasons. 14 more months and I'll own my truck. If someone comes here and fails it's because they got a lemon for a truck or they just don't have the work ethic to get things done when there's nobody telling you what to do. I have talked to guys that are paid flat rates but the lowest I've heard is $1.40...would be doable a few years ago when diesel was $2.50 a gallon but I imagine those fellas are starving right now.
@@josephlewis5614 I netted 60k as a company driver with weekends of running regional so I guess if people like being gone 3-5 weeks at a time and footing the bs mega carriers provide then I guess that's on them but I'll keep my benefits home time and no headaches of a lease purchase and I prefer being treated like a human and not a number they forget about and just a heads up you're getting screwed the frieght an O/O I'm friends with pays 3.82 a mile before fuel surcharge you need to look at load boards to see how badly you are being taken advantage of but lease purchases thrive on cheap frieght because guys doing so will haul anything cause they got that weekly payment
@@jarrodschobert9763 it's a foot in the door man. No down payment on a new truck. Once I've got the security of owning the truck I'll shop around or look at getting my own authority. I've heard horror stories about these smaller carriers, sure they pay 90% but sometimes you won't get paid on time or if they go belly up without notice you don't get paid at all and they'll run you ragged and break their agreement with you if you don't run like they want. Even if I don't leave I'll still be netting 125k without a problem once I own it. Also I was still getting home multiple times a week living in Charlotte. Alot of weeks I slept more nights in my own bed than in my truck. Moved to Florida and it's not as good but I sure as hell don't stay out 5 weeks. also they handle some of the permits and taxes for you plus the shop rates are less than half of regular shop rates and they've never jerked me around like non company shops have and when you have to have work done somewhere else (hit a deer :/) they'll back you up on the parts. Was a minimum 2 months on the stupid radar to come in and my company overnighted one to the shop. Was over $400 to get it calibrated at the dealership and they did that part at a company shop for $50. So yea im making less but like I said it's a foot in the door and it has things that help out for someone that's as apprehensive as I was about trying it. And those net figures are after health insurance/cell phone bill/home internet were taken out as business expenses.
#6 so once the truck is near paid off the lease op gets let go because the freight "dries up" so the company is left with a maintained truck that they had to put near zero dollars into I know guys who have gone lease op and only 1 ever made it out as once the lease was done he was told the truck was to old for the company insurance so you either need to leave or get a new truck
You forgot to mention the companies take all the tax credits since they still own the title on the truck, not the lease owner or make believe owner as I say. The only thing I like is that it comes with being dispatch loads but then again you can have your own authority and hire a dispatcher to keep you moving.
And a lot of these companies don’t give you nothing for nothing because it become a lease of purchase operator. They want you to have money for a down payment. They want you to have everything to pay them upfront so be careful.
If you want to be as bad off financially as a. 19th century sharecropper you can sign on with a non-union carrier and it doesn't matter if you are a company driver or a lease purchase operator.
I mean it’s always how can we make more money and get more drivers am a leasing operator and my company’s does the best they can I don’t even pay for basic maintenance or if my engine breaks or if my tire wears down at all
Nope incorrect ….. it’s so you pay off the truck for them and they save that money and build their company Slip seat doesn’t matter there’s another one waiting in line There is no real benefit to the person not unless they are debt free in life Let’s be honest . We the veterans are truckers we know the game the lies and it always favours the company Example . If your a lease driver company or drive for an owner operator there is a game in it all Company’s LIE PERIOD there is no other TRUTH then that point blank If your good who cares if your attitude who cares just move the load Any veteran good driver has both arms written with a list on a company’s so called BS policy Own your own truck it’s yours you leave with it A lease program it’s money wasted if you leave and no truck But all gains to the company You either like the job or you don’t They won’t break me because I like what I do , and they are the fools not me because I know they lie , they know they lie But I sleep good because my concisions is clear . Sorry you talk walking on eggs but not enough courage to speak Truth Paddle boat or swim ?
The reason is Less liability for the company And two they get paid by the driver for that truck plus enough interest to buy another truck. Third is you leasing so all repairs not under warranty come out of drivers pocket.
BS.... the big companies push all the bills unto the drivers like fuel, maintenance and tires. They charge drivers a percentage to book loads, use tags stickers and other fees. therefore the company is making 100% profit.
as a lease op do they pay for there own repairs ? I see most ppl have a maintenance fee charged in fixed cost is that how all lease ops work ? I was thinking they pay for there repairs and not the company pls help
5 they will cut ur miles 75 percent through causing u to lose the truck so they can lease it 2 more times.. thus making almost 3 times what they paid for it. Never lease save your money and buy from dealer
Biggest problem I see in this industry is drivers mistake there jobs for business’s. If your driving a truck you have a job , you don’t own a business.
Of course you can! It's a lot different than purchasing outright, however, as you might want let's say a T680 which you could buy from your dealer of choice, but when you go the leasing route there simply is no T680 to lease. Or, the company could own a T680 but it's not included in their lease purchase program. So, you have freedom to choose among what they are offering. Here at ET, we like to give drivers a period of time with the truck prior to admitting them into the program so they can be positive that they do want that truck
its ALL about moving freight...period....they couldnt care less if you lose the truck or not...they just wanna move the freight...out of 100 owner operators...maybe 2 of them complete the program....
To Save Money! It's like a loan the driver can never pay off when the company turns off all the awesome money he got at the beginning " false hope " it is called the Never Never plan. (Never pay it off and never own it) Better to get that New truck in your name and then Drive up thier driveway.
Company doesn't pay for truck or insurance and your left running your ass off to pay for it. If the common has the work . Better plan by an off lease truck mwhy pay $200000 for a new truck that will end up in the shop as much as an off lease. Put 10% of your pay away each week for truck maintenance . Be happy
Cuz whatever the truck costs by the time they paid off it'll be a piece of junk if it's not when they started and they'll be about $150 years old before they get it paid off it's called a scam
You forgot the main reason. So a company driver can think they are an owner op making the payments and repair cost while the company will end up with a free truck and the “owner operator” will end up bankrupt
a lease purchase program you can never pay it off. i know two people that had that very large ballon payment at the end and it was as much as what the truck cost new. after they set down and figured it out they already paid for the truck twice.so they had two choices lose the truck or trade it in on another lease purchase truck. i know one person that tried this and they fired him after they found out he was paying double the note to pay it off early. and he lost it all. so its a SCAM dont ever do it.
Yeah right.... The drivers sitting at truck stops waiting on loads are all lease purchase through their company. At the end of the day there's only 1 reason the company wants you to be lease purchase. You pay for their truck and near the end of the term they'll starve you out to get the truck that you've paid for back and keep all the equity you put into it for them. This is a 30 year old scam... Don't fall for it. Lease or buy your truck through a bank, if you don't have the credit, then clean up your credit and try again. Then if they try to starve you out, you take your truck to another company easy as that.
NEVER do this. All the advantage is with the company. They now have you by the balls. An old timer told me before I bought my truck, "Never buy a truck that SOMEONE else controls the freight on."
Do not lease a truck through the trucking company. It locks you into that company. The trend are terrible. All the advantages are for the company but the leasee.
Sorry Ronen, I like you and I like your channel but what you’ve just said is 100% not true. The only and only reason some companies force their drivers to do walk away lease is : to secure that the company makes more than just a profit whether the market is good or bad. The driver pay for their payment of the truck and the company makes 15% to 25% profit of each load (after cheating the driver of course, because they never send you the original rate confirmation, or they’ll send you a fake one) and driver pay for anything that happens to the truck and trailer and most of the time they charge drivers double the price, they cheat drivers on tolls……….etc you got the full picture. I’ve been there I’ve done that. The best thing is either the driver stay company driver or become 100% owner operator. And the only people that try lease programs are new drivers, because they don’t know, they learn the hard way 😁
You forgot the fact that they also want to get rid of their older model junk. Pawn it off on hopeful driver's. Driver gets all the liability and company gets win after win after win. Unless I got the truck new while company driving... and I knew most all of its history, I wouldn't do it. *Please inform the drivers that have no idea about 1099 and how 99.9% of the time it is wholly illegal and not worth the headache if and when the IRS audits them. Maybe stay company and save your money for your own d@mn truck! Jmo.
Yes it is a scam.! You will never pay that truck off.! Because they really don't want you to own your own truck and they don't want you to leave the company.!
You owe your soul to the company when you lease a truck. You pay your insurance, maintenance, fuel, and a monthly fee to them. You only haul their loads, so where is the freedom of being an owner operator.
Fleecing the driver leasing has never been a good option for anybody. Carry your own insurance, make your own vacation time because the company don't supply it. You'll most likely never own that truck. Try leasing a truck and taking it somewhere else too haul your own loads and see what they tell you. They Even tell you where you have to buy your fuel at You're just a glorified company driver that takes on all of the liability
Bull shit! The number 1,2,3,4 reason . It’s so the company doesn’t have to pay the drivers health benefits. There not owner operators, they just become company drivers with no benefits.
The truest reason is so you can buy them a truck
If you are a company driver you're buying them a truck also. It's baked into your pay. As a fleece purchase driver they just reach into your front pocket. They rob you in your face. A company driver has hands going into his back pocket and getting robbed without knowing it.
what buy them a truck? why would they want that responsibility? far better for you to own the truck and all the coasts that come with it.
@@Peterblack12Eh, not really if you really think about it….. Yes you definitely make less net but you have to look at the bigger picture…. That’s what the company does after all…..
@@SilverMe2004Not in this day and age 💀💀💀💀
@@preppertrucker5736 I ment better for them, that you own the truck and all the liabilities that come with it.
It's a scam. Don't do it. Live simply, work hard, and pay cash for your first good used truck. Also learn about diagnostics and basic mechanics
Yup n treat u like shit
@Kw-xt3xk but the new trucks are 120k to 180k now with a ton of terrible engineering forced on them from the epa buy a truck pre 2007 no emissions for 30k rebuild engine trans and axles for 20 - 30k new tires are 5k then you have a reliable truck with no emissions for less then half of new
@@kennethryan8112Exactly. These new trucks are garbage and can cost you just as much as an old truck but older trucks are better. I'd love a 2004 Western Star 4900EX with a 60 Series or, preferably, a 6NZ. You Won't find either in the new garbage, plus, as you said, no emissions to worry about which is the biggest issue with the newer trucks. Also, no need to waste money on DEF and instead can put that wasted money towards actual fuel. Right now I'm looking at a 1985 Freightliner FLC with a 90" custom sleeper, 400 hp CAT motor, 15 speed manual, 3:55 rears and, best of all, 4 X 150 gallon fuel tanks. She's a beaut.
@Kw-xt3xkno you should be starting with as little debt as possible especially today when we are one hiccup away from a depression. You didn't live through the recession in 2008 and it's obvious. Debt is for expanding not starting. When you default you will lose the trucj
@kennethryan8112 yeah but don't old teucket get horrible MPG?
Are they really getting 8 loaded and 10 empty?
Because it benefits the company.! Otherwise they wouldn't do it.
Have you ever lease?
@shaydesofblue2281 I did before buying my own truck. The deciding factor was when I ran a load from breezewood PA to Indianapolis IN for the same amount my cousin ran a load from breezewood to Columbus OH for the same price. Both of us had identical jlgs going to dealers. My company told me I was nuts for expecting 1.50 a mile. Lease company's don't care about the rates they just want to book loads to take their cut.
Damn right, just like the casino the house always wins 😂😂
@@shaydesofblue2281No.! I owned my truck and never leased anything.
Another reason, some use those drivers to pay for those trucks. Many contractors pay full for brand new trucks and once it's paid off, talked into a new lease. That truck that's paid off, the company buys back partial value to put a company driver in
yep. scam the driver
National freight used to supply them with at least purchase and then take the truck in for repairs over charge and cut out their loads so then they lose it and they sell it to the next sucker after they repoed it
Prime, Inc. Those trucks 🚚 are paid for 3-4 times. The biggest shaft in this country's history.
And the biggest reason is that when a company leases a truck out, they can collect up to 3x the value of said truck.
Also, to make more money with less liability. Case in hand, I was talking to a nova driver, and after doing the math, it came out that he was buying the truck at just shy of 3 times of what a new one would cost, and his was used. Unfortunately, it's a legal scam. But yet, if you're unwilling to read or have common sense, than you get what you get.
So company's enjoy the benefits 😉
Not everybody has a rich Uncle to buy their truck for him
@@richardsprings1414 fix their credit and they can get a truck
@@richardsprings1414 work and save
@@dominickjustave3558Exactly, if you’re single with no family you can take advantage of trucking frfr.
There’s not one single company that does it to help the driver, they do it to help themselves. It’s a huge scam.
Some companies know that they turn the driver in a slave and charge them a arm and a leg for it .
A lot of companies will give you a truck and we are almost about to pay for it they'll give you less work for you to quit and you get nothing and they'll give it to another person and make more money off of that truck
Save some backup cash in the early days for later when the pawpaw hits the fan. Sunny and fare weather are not guaranteed every day.
Fleece purchase
There’s zero money in trucking today . I remember fuel costing .69 cents a gallon and we were getting .92 / 2.45 a mile . Now , it’s five bucks a gallon for 72 percent of 2.90 , if your lucky . Trucking is officially over . Thank you to all the government regulations, rules , policies and laws .
Don't forget the trucking companies that mysteriously stopped scheduling the driver about 3/4 of the way through the lease forcing the driver to sell the vehicle back to the company and now they have an indentured servant.
If it wasn't for lease purchase I would either have no truck or bad credit or both. 1st time was a walk away leave on a new truck but I was to new and the truck was the one built on a Friday before a Holliday. Turned in no blemish on my credit. 2nd try was a walk away on a 5 yr old international. Went good until covid when the contract rates plummeted. Turned in again but had the money to get my International Prostar from loan mountain at 1/2 the payment before the costs skyrocketed same company took back.
There was no way to earn enough company side to save the down payment or to have the maintenance account needed.
It's a safe way to learn what it takes to be an owner opp. Only caution would be do not think or assume you will pay off that lease purchase from a company too many of them simply won't allow it.
This the comment I was looking for 💯💯💯
And if they don't have loads for your truck you still have to pay. Screw the driver. Who cares. Thanks a lot CR England.
You got a watch for the companies that do this and then stop giving you work just before the truck is paid off I had a company do that to me when I only have four payments left they stopped giving me work but they weren’t very smart with the contract. I was able to pay it off and leave with the truck.
And no mention of predatory lending practices? Or reducing company overhead by shifting the responsibility to the "lease contractor" or the fact that some companies will lease a tractor, get a couple years payments out of them. Then starve them out, put another driver in that truck and rinse and repeat...
You left out the fact that they’re going to charge you around $200,000 plus interest when you could just buy a used truck doing engine swap and transmission swap and end up with a new truck for around $80-$100,000 as well as be pre-ELD and DEF
Eld and def are good. Def rigs post 2017 are getting 7-12% more fuel efficiency as an average and at a cost of 1-2k to save 5-7k on fuel… filter gets serviced once every so many miles. ELD protects you in the court of law against dot if you’re logging correctly and helps you down to the minute and second whereas a paper book has 15 minute margins for error. Also ELD proves you at least logged pre/post and breaks, sleeper birth and 34s/ PC. Combined with a tracker on your rig/reefer/trailer if O/O etc you can get out of many possible violations and CSA where as a log book is just a drawing on paper that could of been done at any time.
Well some lease purchases are good deals but most lease purchases are money pits where the only one that make any money is the company leaving the driver to exorbitant and over inflated maintenance program and and a finsl balloon payment.
I don’t like the idea all together. But I take care of my truck like Ionut. I can’t on that truck to get me from point a to point B without leaving me on the side of the road. But I will say this, there are a lot of drivers that will literally run a company truck in the ground. And believe it or not sometimes you wonder what is cleaner, a landfill, or that driver’s truck.
Totally Agree With this Msg
If you for one second believe that these companies do it for the driver, you're sadly mistaken.. once you get close to paying it off, the freight "vanishes". Being an owner operator is nothing more than an company driver with all the financial responsible on the driver. It's just not worth it! Run far and fast!
100%!
You covered it! Our favorite is the last reason but they all play a part in helping to keep the loads coming.
Companies could also choose to pay a good salary and offer good benefits as a way of retaining drivers, but that would hit the bottom line too hard. It's easier to push the responsibility onto someone else (more cost effective for the business).
Im going to do it. Going to find a walk away leasing option and go hop in the truck. Use that to practice while my truck sits right where its at. And when im done practicing with their truck, im handing it back and going about my day 😂😂😂😂😂
Is it weird that I read this in the Joker voice?
@@NorthAmerican-Trucking-News now I can't unsee the comment. So now I can only read my own comment in the joker voice 😂😂
Exactly they lock you in for 4 to 5 years and they pay a very very low rate so you can't go anywhere even if you were to pay off the truck.
Leasing from a company is for suckers. If you want to lease then get a loan from your bank. You can then change companies without losing your truck among other things.
I got my truck through a lease agreement but only for 3 years instead of 6 because I figured out if I drove the truck as a company driver then the value of it would drop.
Your spot on. But also , if companies would pay a driver enough (Lease op) enough money; the lease op wouldn’t have to become a slave on wheels. It’s a sweatshop on wheels. Your married to that thing once you sign. Say goodbye to your life style, say goodbye to your family , your vulnerable to the bad economy and any down turns in the freight market . A slave .
And in the end you’ll be broke . That’s the reality .
Oh but I’m sure your company is different though right? I’ve heard it all in my 30 year career. A fleece program is never good.
Most leases are legalized slave labor.
If u already have bad credit-good sign u cant manage money. Last thing u need is to "own a truck"
Haha! Nailed it!
A lot of debt in America is medical debt.
And when the co. takes that truck out of service, they sell it.
Or get some young kid to buy it thru a lease purchase.
Several years can go by, and the guy who lease purchased might think he can do better somewhere else.
Now anything he had invested in the truck
Is gone.
Great advice!!!
Bro videos helping drivers or those looking to get into it are awesome.
Also maybe talk about hotshot stuff or how to work with brokers using your own 3/4 or 1 ton truck.
can you please make a detail ideo about ACE and ACI MANEFIST
Buy a truck like you would a car, never lease purchase a truck.
worst idea for a trucker. the company is not helping the driver whatsoever....so many downsides to doing lease purchase
To those drivers that are new ...safe your money then buy your truck...this leasing is a scam.....scam .......if it's explain to you and it starts to make sense....stop it's a scam.. period
I was a tireguy in the late 80s for Laidaw. Record for never never plan on the same truck was 6 leases. When I seen one against the fence Sunday, I got it ready for paint wheels Monday
Hey...is Laidlaw still a solid OP company for a new owner operator???
@@truckingwithfauz7089 Don't know. It's all TForce now like everyone else who got bought out.
#4 is all that matters and says ever about the program. In a nutshell you’re my hostage
In today's market is it even worth it? I did a lease before and it left me broke truck kept braking down and needed tons of work and it was forced dispatch and home time wasn't even available not cause it wasn't there but because I couldn't afford it and I felt like a slave not a driver. What's your thoughts
So the real answer and dirty secret of the business is the reason they do this 0 liability for the company they pretend to give you a good deal by giving you big fuel discounts that they contracted through truck stops all while you make a lease payment of 800-1200 dollars per week while paying you $1.20 a mile or there about and then give you between 2200-2800 miles per week so after you pay fuel your lease payment and taxes and the auto deduction to the repair account you get to take home $50 for the week but remember you get to tell your friends you made $200k that year
Highly doubt you'd make $200k at $1.20 a mile. Would have to do like 3200 a week every single week 😂😂.
@@josephlewis5614 missing my point completely it's a scam to take advantage of people new to the business
@@jarrodschobert9763 depends on the company I guess. I'm an IC for a mega carrier and I average over $2.00 (66% of haul and 100% fuel surcharge) a mile most weeks and I choose my own freight . On pace to net over $75k this year with a 3 week vacation tossed in there. Netted $62k last year with 2 months off for family reasons. 14 more months and I'll own my truck. If someone comes here and fails it's because they got a lemon for a truck or they just don't have the work ethic to get things done when there's nobody telling you what to do. I have talked to guys that are paid flat rates but the lowest I've heard is $1.40...would be doable a few years ago when diesel was $2.50 a gallon but I imagine those fellas are starving right now.
@@josephlewis5614 I netted 60k as a company driver with weekends of running regional so I guess if people like being gone 3-5 weeks at a time and footing the bs mega carriers provide then I guess that's on them but I'll keep my benefits home time and no headaches of a lease purchase and I prefer being treated like a human and not a number they forget about and just a heads up you're getting screwed the frieght an O/O I'm friends with pays 3.82 a mile before fuel surcharge you need to look at load boards to see how badly you are being taken advantage of but lease purchases thrive on cheap frieght because guys doing so will haul anything cause they got that weekly payment
@@jarrodschobert9763 it's a foot in the door man. No down payment on a new truck. Once I've got the security of owning the truck I'll shop around or look at getting my own authority. I've heard horror stories about these smaller carriers, sure they pay 90% but sometimes you won't get paid on time or if they go belly up without notice you don't get paid at all and they'll run you ragged and break their agreement with you if you don't run like they want. Even if I don't leave I'll still be netting 125k without a problem once I own it. Also I was still getting home multiple times a week living in Charlotte. Alot of weeks I slept more nights in my own bed than in my truck. Moved to Florida and it's not as good but I sure as hell don't stay out 5 weeks. also they handle some of the permits and taxes for you plus the shop rates are less than half of regular shop rates and they've never jerked me around like non company shops have and when you have to have work done somewhere else (hit a deer :/) they'll back you up on the parts. Was a minimum 2 months on the stupid radar to come in and my company overnighted one to the shop. Was over $400 to get it calibrated at the dealership and they did that part at a company shop for $50. So yea im making less but like I said it's a foot in the door and it has things that help out for someone that's as apprehensive as I was about trying it. And those net figures are after health insurance/cell phone bill/home internet were taken out as business expenses.
LMAO 😂😂😂😂 that way they keep you broke.
#6 so once the truck is near paid off the lease op gets let go because the freight "dries up" so the company is left with a maintained truck that they had to put near zero dollars into I know guys who have gone lease op and only 1 ever made it out as once the lease was done he was told the truck was to old for the company insurance so you either need to leave or get a new truck
You forgot to mention the companies take all the tax credits since they still own the title on the truck, not the lease owner or make believe owner as I say. The only thing I like is that it comes with being dispatch loads but then again you can have your own authority and hire a dispatcher to keep you moving.
Leas operator como will take care better rthen owner op .. that really had me cracking. If your company dose , big respect !
Don't forget that they can keep the truck after they starve the lease operator out 6 months before they own it.
And a lot of these companies don’t give you nothing for nothing because it become a lease of purchase operator. They want you to have money for a down payment. They want you to have everything to pay them upfront so be careful.
If you want to be as bad off financially as a. 19th century sharecropper you can sign on with a non-union carrier and it doesn't matter if you are a company driver or a lease purchase operator.
I mean it’s always how can we make more money and get more drivers am a leasing operator and my company’s does the best they can I don’t even pay for basic maintenance or if my engine breaks or if my tire wears down at all
Are is your company hiring if so where can I find the application for the company
Nope incorrect ….. it’s so you pay off the truck for them and they save that money and build their company
Slip seat doesn’t matter there’s another one waiting in line
There is no real benefit to the person not unless they are debt free in life
Let’s be honest . We the veterans are truckers we know the game the lies and it always favours the company
Example . If your a lease driver company or drive for an owner operator there is a game in it all
Company’s LIE PERIOD there is no other TRUTH then that point blank
If your good who cares if your attitude who cares just move the load
Any veteran good driver has both arms written with a list on a company’s so called BS policy
Own your own truck it’s yours you leave with it
A lease program it’s money wasted if you leave and no truck
But all gains to the company
You either like the job or you don’t
They won’t break me because I like what I do , and they are the fools not me because I know they lie , they know they lie
But I sleep good because my concisions is clear . Sorry you talk walking on eggs but not enough courage to speak Truth
Paddle boat or swim ?
The reason is
Less liability for the company
And two they get paid by the driver for that truck plus enough interest to buy another truck.
Third is you leasing so all repairs not under warranty come out of drivers pocket.
The fuel tank isn't the only thing that gets hosed...
Epic 1.!
BS.... the big companies push all the bills unto the drivers like fuel, maintenance and tires. They charge drivers a percentage to book loads, use tags stickers and other fees. therefore the company is making 100% profit.
Could you make a video on if trucks are driving themselves do you think it would be good to be an owner operator then?
TOO STEAL FROM YOU
as a lease op do they pay for there own repairs ? I see most ppl have a maintenance fee charged in fixed cost is that how all lease ops work ? I was thinking they pay for there repairs and not the company pls help
Good video.
Spot on sir 👏🏽
👍👍
5 they will cut ur miles 75 percent through causing u to lose the truck so they can lease it 2 more times.. thus making almost 3 times what they paid for it. Never lease save your money and buy from dealer
It's a simple as liabilities/assets. Get rid of all the liabilities and get to keep the assets.
Biggest problem I see in this industry is drivers mistake there jobs for business’s. If your driving a truck you have a job , you don’t own a business.
Would you recommend it
Can you choose the truck u want to lease to own???
Of course you can! It's a lot different than purchasing outright, however, as you might want let's say a T680 which you could buy from your dealer of choice, but when you go the leasing route there simply is no T680 to lease. Or, the company could own a T680 but it's not included in their lease purchase program. So, you have freedom to choose among what they are offering. Here at ET, we like to give drivers a period of time with the truck prior to admitting them into the program so they can be positive that they do want that truck
@@NorthAmerican-Trucking-News could you lease to own a Peterbilt 389 or 589???
If the company is leasing it, sure!
Which compaines want you to be successful with their lease purchase program?
What the best trucker insurance
Watch what is in the contract before signing.. its also a way for some company's to hold it over your head.. js.
its ALL about moving freight...period....they couldnt care less if you lose the truck or not...they just wanna move the freight...out of 100 owner operators...maybe 2 of them complete the program....
If you have ANY TYPE OF CREDIT DO NOT DO IT
If you can find a lease Co that lease their trucks out for reason #5, congratulations, you've just hit the lottery 💵💶💵🚚
How come the trucking companies offer lead perches but never give full ownership to the driver
To Save Money! It's like a loan the driver can never pay off when the company turns off all the awesome money he got at the beginning " false hope " it is called the Never Never plan.
(Never pay it off and never own it)
Better to get that New truck in your name and then Drive up thier driveway.
Company doesn't pay for truck or insurance and your left running your ass off to pay for it. If the common has the work . Better plan by an off lease truck mwhy pay $200000 for a new truck that will end up in the shop as much as an off lease. Put 10% of your pay away each week for truck maintenance . Be happy
Been there. It ain't me no more.
Cuz whatever the truck costs by the time they paid off it'll be a piece of junk if it's not when they started and they'll be about $150 years old before they get it paid off it's called a scam
Anyway to contact u sir ?i wanna start trucking company so need info
You forgot the main reason. So a company driver can think they are an owner op making the payments and repair cost while the company will end up with a free truck and the “owner operator” will end up bankrupt
Free truck, free driver, no expense or depreciation. It's more predatory than a payday loan.
Hi team, how to be a owner operator. Its been a long term dream. Could you please guide me?
I'll guide you; Talk to older truckers. A bunch of them. They will talk you out of these kinds of mistakes.
Right now the way things are and price of truck's don't buy a truck stay company for now if or when they come down in price then start asking us
Lease operator?? Hell nope. Like Smart Trucking Dave said, don’t walk away, RUN! I rather drive company or actual owning truck.
a lease purchase program you can never pay it off. i know two people that had that very large ballon payment at the end and it was as much as what the truck cost new. after they set down and figured it out they already paid for the truck twice.so they had two choices lose the truck or trade it in on another lease purchase truck. i know one person that tried this and they fired him after they found out he was paying double the note to pay it off early. and he lost it all. so its a SCAM dont ever do it.
Why would anybody sign on to a lease program? 🤔
Yeah right.... The drivers sitting at truck stops waiting on loads are all lease purchase through their company.
At the end of the day there's only 1 reason the company wants you to be lease purchase.
You pay for their truck and near the end of the term they'll starve you out to get the truck that you've paid for back and keep all the equity you put into it for them.
This is a 30 year old scam... Don't fall for it.
Lease or buy your truck through a bank, if you don't have the credit, then clean up your credit and try again. Then if they try to starve you out, you take your truck to another company easy as that.
NEVER do this. All the advantage is with the company. They now have you by the balls. An old timer told me before I bought my truck, "Never buy a truck that SOMEONE else controls the freight on."
Do not lease a truck through the trucking company. It locks you into that company. The trend are terrible. All the advantages are for the company but the leasee.
Sorry Ronen, I like you and I like your channel but what you’ve just said is 100% not true.
The only and only reason some companies force their drivers to do walk away lease is : to secure that the company makes more than just a profit whether the market is good or bad. The driver pay for their payment of the truck and the company makes 15% to 25% profit of each load (after cheating the driver of course, because they never send you the original rate confirmation, or they’ll send you a fake one) and driver pay for anything that happens to the truck and trailer and most of the time they charge drivers double the price, they cheat drivers on tolls……….etc you got the full picture.
I’ve been there I’ve done that.
The best thing is either the driver stay company driver or become 100% owner operator.
And the only people that try lease programs are new drivers, because they don’t know, they learn the hard way 😁
Thanks for sharing!
And most importantly. They take advantage of the driver and charge him 3x as much
Say it's not so the trucking companies r all about making money say no to one load and buy buy truck
Company's use lease drivers higher payments maintenance cost insurance fuel don't forget taxes
You forgot the fact that they also want to get rid of their older model junk. Pawn it off on hopeful driver's.
Driver gets all the liability and company gets win after win after win. Unless I got the truck new while company driving... and I knew most all of its history, I wouldn't do it.
*Please inform the drivers that have no idea about 1099 and how 99.9% of the time it is wholly illegal and not worth the headache if and when the IRS audits them.
Maybe stay company and save your money for your own d@mn truck! Jmo.
Yes it is a scam.! You will never pay that truck off.! Because they really don't want you to own your own truck and they don't want you to leave the company.!
and so they can get them on the hook, set in a motel for a night so the truck can be reposed.
and then "sell it" to another sucker.
#2 should be #1
You owe your soul to the company when you lease a truck.
You pay your insurance, maintenance, fuel, and a monthly fee to them.
You only haul their loads, so where is the freedom of being an owner operator.
Lol I saw a lease op kill a clutch in 15k miles. So no they don't take care of the truck better
They have "equity", in the truck, what equity? If it doesn't go with me when i part ways with them, I don't call that "equity".
First reason they are stealing money by cutting rate price nd driver will never know about it!
I’d only do it to get a truck when it’s paid I’d quit trucking get my land and have a truck and flatbed for my homestead
Fleecing the driver leasing has never been a good option for anybody. Carry your own insurance, make your own vacation time because the company don't supply it. You'll most likely never own that truck. Try leasing a truck and taking it somewhere else too haul your own loads and see what they tell you. They Even tell you where you have to buy your fuel at You're just a glorified company driver that takes on all of the liability
Bull shit! The number 1,2,3,4 reason . It’s so the company doesn’t have to pay the drivers health benefits. There not owner operators, they just become company drivers with no benefits.
Thanks for your feedback!
Profit. They do it for profit. They don't care if the profit comes from their customers if they can make customers out of the drivers...