Lease Purchase LEASIng is a bad idea

TruckerSHARKy3367

Active Member
Been there done it got screwed don’t fall in the trap either get a loan and buy it or drive as Company driver ....Tell ya a true story
Have a friend went this route he quit a job making 1500 gross take home pay 975 every week this is after taxes,child support as a company driver great pay....then he decided to go into the leasing a truck he said he make more I told him no but take home pay was 1300after expenses except no taxes taking out no child support taking out taxes for fed 30% to 34% of gross 3% to 4% for state .o2% for local tax but he said he is making more money I say after your child support of 265 per week and taxes the math shows he is actually making less with more headaches....he can’t pay his taxes due not enough revenue coming in he now is behind 7 yrs on tax filing he tried to do the contract driver where company pays by 1099 and pays truck payment and fuel that’s illegal as well so there are no good lease purchase deals either own it or drive for a company Back in 2008 I was a certified owner operator been driving over 35 yrs now I stay as a Company driver less headaches better income I currently make $0.921 cents per mile full great benefits get paid what I’m worth get paid while truck is in shop flat tire etc, bad weather pay I sit getting 20 a hr ,detention after 1 hr extra mileage bonus incentive premium pay bonus as well
 

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gearjammer

jammer
Staff member
Supporter
all I can say is I was an O/o for better than 20 years, while I bought my first truck with a loan so I wouldn't be beholden to any company I leased onto several companies before settling with landstar and was with them over 18 years I made a decent living before having to retire after losing my medical.
I would not today recommend landstar in any way shape or form today back when I started with them they were THE company to lease too, Jeff Crow really took care of the O/o's but when the company went public and the bean counters took over they basically forced him out and things went downhill from there, to the point that the last year I was with them my profit was half of what my average was and would have been worse if not for the fact I had a relationship with a good number of the agents
 

TruckerSHARKy3367

Active Member
Auto correction sucks but left lane I owned it can’t do that now a days too much traffic lmao on you car I got 1991 dodge Plymouth van 35000 original miles no rust lol got it 2015 with 31000 some change lol
 

TruckerSHARKy3367

Active Member
John Christner tried to screw me on a lease program but too smart for fictitious bills and repairs one was 357,00 to adjust all brand new shocks yes they tried to charge me but I did set them right have not heard another peep out of them
 

GAnthony

Non-Canadian truck driver
Supporter
How come?
my accountant says (and this is true) one who leases, constantly has monthly payments. buy it, pay it off, keep it x number of years, costs add up for repairs, dump it/trade it in.

recently we had heavy winds. a couple of shingles came off the roof, landed on my windshield, and scratched it. NEVER had that problem with ANY car/truck i owned.

seems like all i do is worry about scratches and stuff, that i gotta pay for at lease end.

BS, i think i will buy, if it gets dents/scratches, whatever, they still take it in on trades, and don't nail you with repairs.
 

nan

Well-Known Member
Supporter
my accountant says (and this is true) one who leases, constantly has monthly payments. buy it, pay it off, keep it x number of years, costs add up for repairs, dump it/trade it in.

recently we had heavy winds. a couple of shingles came off the roof, landed on my windshield, and scratched it. NEVER had that problem with ANY car/truck i owned.

seems like all i do is worry about scratches and stuff, that i gotta pay for at lease end.

BS, i think i will buy, if it gets dents/scratches, whatever, they still take it in on trades, and don't nail you with repairs.
Good point. I fret and worry about the two vehicles with payments regardless though.
 

ironpony

Professional Pot-Stirrer
Supporter
John Christner tried to screw me on a lease program but too smart for fictitious bills and repairs one was 357,00 to adjust all brand new shocks yes they tried to charge me but I did set them right have not heard another peep out of them
John Christner is in the biz of screwing everybody that is dumb enough to fall for his ****.
 
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