Looking For A Good Lease Purchase Program

stray dog

Member
Can anyone tell me if there is a good lease/purchase companies out there? I've been thinking about trying lease/purchase but all I hear is how bad the companies are.
 

Mike

Well-Known Member
Staff member
Welcome to the forum.

Can't recommend any personally, all I can say is read up on each one you check into as much as possible. Some are much better than others. A few of them out there are set up simply to make the companies more money.

Look for programs that are truly "purchase" programs, not simply a lease where you are unlikely to ever own the truck.
 

Racer X 69

Member
A few of them out there are set up simply to make the companies more money.

Look for programs that are truly "purchase" programs, not simply a lease where you are unlikely to ever own the truck.
I agree. It seems they are set up much like a credit card. You make the minimum payment each month, but never get the thing paid off.

And the trucks are spec'd to a very narrow window for service. Like a rig that will only be suitable for pulling dry vans. And they often are bare bones trucks. No fridge. No room for a microwave, and some don't even have a place for a TV.

No APU's or inverters.

And many companies also do not allow a lease operator to add an inverter or an APU.

So much for "owning" your own truck.
 

Sinister

Supermodel
Staff member
Supporter
What is your home situation? What do you need to live on? Can you skimp by when you need to?...(I mean REALLY skimp by?) That's what stopped me for filling out the app at Sammons. @sammonsrecruiter could tell you more.

If you're into flats, I think Sammons is probably the best. The program is geared toward paying off the truck, but you gotta learn to be pretty skinny at times and my family and I just couldn't handle that right now. It might be right for you.

Im a survivor of a lease program, and I do mean a SURVIVOR.

They're usually not for family men or women (notice my gender equality there...thank you!) with families. Had I found them in my 20's...who knows.
 

moonshadow1966

Active Member
My lease is 1.47 mi we have apu we run the midwest no east . except the southeast . trucks governed 72 some are 75. dry van lots of drop and hook . Self dispatch on a choice of 3 loads on occassion you get preplanned . We run elogs and yes you can make money on elogs i avg 1000 1200 take home . Hometime whenever you want its your business thats there moto here . Everything is your Business your making the truck payments , thats how we run . They treat you like your an owner of a business not a company driver making truck payments. You wanna drive 72 and make 700 a week you can do that its your business . You wanna drive 60 64 and make 1000.00 you can do that to . Why is that cause its your business . Last year we had 44 drivers complete there lease . I believe we have 47 drivers here with the titles in there hands running like they did when they where making truck payments. Wanna learn more email if you like moonshadow4466@yahoo.com . Like i said Its your business do like you want that how we run.
 

Gus

What?
And the trucks are spec'd to a very narrow window for service. Like a rig that will only be suitable for pulling dry vans. And they often are bare bones trucks.
How does that work? Them dry vans have special fifth wheels?
 

Racer X 69

Member
How does that work? Them dry vans have special fifth wheels?
Trailers don't have 5th wheels, the tractors do.

And no, the trucks are spec'd to pull nothing but dry vans. Or reefers. Period. So some dipstick who thinks he's gonna lease to own and then go do some other type of trucking finds out after he has paid an inflated price for a truck that the only work it is suited for is pulling vans on dedicated runs.

Oh, wait, you mean he can't pull flats with it? Why sure, go ahead. Um, but wait, you want to pull oversize and over weight?

Sorry buddy.

This truck doesn't have the power to drag heavy loads, usually 12 or 13 liter engines with about 400 horsepower. It doesn't have the axles to take the extra weight. To save weight, the frame is spec'd specifically for the work that XYZ Trucking does. Usually they only have 150 or 200 gallons fuel capacity too. And it has a 9 or a 10 speed, or (shudder) even worse, an Autoshift.

Oh, and the 5th wheel is fixed, not a slider, so you can't move it where you want to adjust your weight. That's right, that truck was spec'd to pull XYZ Trucking companies vans, and they are all the same size, all have the pin in the same location, and the freight is always the same load of whatever with the same type of trailer that the contract is for, so the plate doesn't have to be adjustable.

Wanna hang a headache rack so you have a place for the load chains? Oops! No room, because the truck wasn't spec'd for flatbed work. Put a chain rack on and then if you were lucky enough to get a rig with a sliding 5th wheel you won't be able to move it all the way forward, because the trailer will hit the rack when you make a tight turn.

Add to that the trucks are bare bones rigs, no fridge, basic trim package, some don't even have radios. And the sleepers are small, many have no doors on the closet or cabinets, just some cheesy elastic net.

No, too many drivers fail to understand that not all trucks are created equally. Every truck that rolls off of the assembly line is sold before the frame rails are formed and punched. Each one is built to the specifications of the customer it is being built for.

Peterbilt offers 4 different frame rail sizes, 8 different front axles, 2 different 5th wheel plates, 2 different front hubs, 5 different front brake configurations, 7 different rear axles, 11 different rear suspensions, 2 different rear hubs, 4 different rear brakes, 9 different transmissions, 2 different engines with horsepower from 380 to 600 and torque from 1,450 to 2,050ftlbs, 6 different sleepers, and 6 different fuel tank choices for the 388 and 389 models alone.

That is just one type of truck. There are many others.

The trucks that the mega carriers order are built to a very specific set of criteria. That is because they always only haul one type of load, one type of trailer. The specifications also take into consideration the type of driver that makes up the majority of the workforce, usually drivers who are new to trucking.

And those trucks are virtually worthless for any other type of trucking.

Trucks spec'd for tanker service are different that trucks for van or reefer service. Usually the van and reefer rigs are condos, but those are too tall for the racks at the tank farm.

Uh! Oh!

Trucks spec'd for flatbed, specialized or heavy haul are different too. The frame and axles are usually heavier, especially for specialized and heavy haul. And if you are only going to do flatbed, a truck spec'd for van or reefer will limit what you can haul.

Wanna go haul pneumatic trailers? Gonna need to install a PTO, a driveshaft and a blower. But wait! No room because the truck was spec'd for van or reefer service. Maybe you can install a wet kit, and run the blower with a hydraulic pump and motor. Again, where are you going to put the extra gear? Wet kits need a hydraulic tank. It has to go somewhere.

So after "buying" one of these gems, a driver wants to "move on" and try something else, he or she will need to spend even more money. Doesn't make any sense to me.

And these lease/purchase programs are structured such that by the time the truck is paid for, it has reached the end of its useful service life. Why would someone want to spend all that money for a truck that is essentially used up?
 

Gus

What?
Easy solution... once the truck is yours, sell it and get the truck you need for the next phase of your trucking endeavour. You over think things.

If I have a quad axle, heavy haul truck and I want to pull tanker, I get a different truck. If my 1/2 ton Chevy is too small to pull a 5th wheel, I get a 3/4 ton or one ton.
 

Injun

Rabid Squaw
Staff member
Supporter
[MENTION=3730]Racer X 69[/MENTION]:

I am not going to quote your entire post. I find it annoying when I have to scroll through everything I just read just to see a one-liner response. I will simply respond.

Everything you said about fleet spec'ed trucks is correct. About Prime and their ilk.

This truck, spec'ed by Swift, has a wider spread between the 40K drive axles, a heavy-duty frame, 14K steer axle, 15 liter Cummins currently set to 435 hp, but upgradeable with the computer to 600 and an Eaton-Fuller transmission with 9 accessible gears for now, but with the splitter box already in place for conversion to a 13. The rear end ratios are spec'ed for climbing, not for flat speed. But Swift hauls heavier stuff than most of the "mega" fleets. There are Rocky Mountain doubles running out of Sumner. The trucks need to be capable of grossing at least 96K. That's what this one is set up for. I just don't have a tag axle or permitting for those weights. I don't need them. Yet.
 

Racer X 69

Member
Easy solution... once the truck is yours, sell it and get the truck you need for the next phase of your trucking endeavour.
Good luck getting a decent price for a worn out mega fleet truck. And of course there is already the money lost to interest and inflation.

Sounds like an expensive way to get from point A to point B.
 

Racer X 69

Member
I am not going to quote your entire post. I find it annoying when I have to scroll through everything I just read just to see a one-liner response.
Apologies, m'dear. But I felt compelled to respond in more detail, as it appeared my original statement did not contain sufficient information.

Everything you said about fleet spec'ed trucks is correct. About Prime and their ilk.
Pretty much.

This truck, spec'ed by Swift, has a wider spread between the 40K drive axles, a heavy-duty frame, 14K steer axle, 15 liter Cummins currently set to 435 hp, but upgradeable with the computer to 600 and an Eaton-Fuller transmission with 9 accessible gears for now, but with the splitter box already in place for conversion to a 13. The rear end ratios are spec'ed for climbing, not for flat speed. But Swift hauls heavier stuff than most of the "mega" fleets. There are Rocky Mountain doubles running out of Sumner. The trucks need to be capable of grossing at least 96K. That's what this one is set up for. I just don't have a tag axle or permitting for those weights. I don't need them. Yet.
I would, imagining that not only Swift, but all the large fleets have more than one specification.

Prime, for example, has more than just a dry van fleet. They have a "floral" division, a tanker division, and yes, even a flatbed division.

And because they also operate nationwide, I would guess that they also spec trucks for the different regions, just like Swift.
 

moonshadow1966

Active Member
Trailers don't have 5th wheels, the tractors do.

And no, the trucks are spec'd to pull nothing but dry vans. Or reefers. Period. So some dipstick who thinks he's gonna lease to own and then go do some other type of trucking finds out after he has paid an inflated price for a truck that the only work it is suited for is pulling vans on dedicated runs.

Oh, wait, you mean he can't pull flats with it? Why sure, go ahead. Um, but wait, you want to pull oversize and over weight?

Sorry buddy.

This truck doesn't have the power to drag heavy loads, usually 12 or 13 liter engines with about 400 horsepower. It doesn't have the axles to take the extra weight. To save weight, the frame is spec'd specifically for the work that XYZ Trucking does. Usually they only have 150 or 200 gallons fuel capacity too. And it has a 9 or a 10 speed, or (shudder) even worse, an Autoshift.

Oh, and the 5th wheel is fixed, not a slider, so you can't move it where you want to adjust your weight. That's right, that truck was spec'd to pull XYZ Trucking companies vans, and they are all the same size, all have the pin in the same location, and the freight is always the same load of whatever with the same type of trailer that the contract is for, so the plate doesn't have to be adjustable.

Wanna hang a headache rack so you have a place for the load chains? Oops! No room, because the truck wasn't spec'd for flatbed work. Put a chain rack on and then if you were lucky enough to get a rig with a sliding 5th wheel you won't be able to move it all the way forward, because the trailer will hit the rack when you make a tight turn.

Add to that the trucks are bare bones rigs, no fridge, basic trim package, some don't even have radios. And the sleepers are small, many have no doors on the closet or cabinets, just some cheesy elastic net.

No, too many drivers fail to understand that not all trucks are created equally. Every truck that rolls off of the assembly line is sold before the frame rails are formed and punched. Each one is built to the specifications of the customer it is being built for.

Peterbilt offers 4 different frame rail sizes, 8 different front axles, 2 different 5th wheel plates, 2 different front hubs, 5 different front brake configurations, 7 different rear axles, 11 different rear suspensions, 2 different rear hubs, 4 different rear brakes, 9 different transmissions, 2 different engines with horsepower from 380 to 600 and torque from 1,450 to 2,050ftlbs, 6 different sleepers, and 6 different fuel tank choices for the 388 and 389 models alone.

That is just one type of truck. There are many others.

The trucks that the mega carriers order are built to a very specific set of criteria. That is because they always only haul one type of load, one type of trailer. The specifications also take into consideration the type of driver that makes up the majority of the workforce, usually drivers who are new to trucking.

And those trucks are virtually worthless for any other type of trucking.

Trucks spec'd for tanker service are different that trucks for van or reefer service. Usually the van and reefer rigs are condos, but those are too tall for the racks at the tank farm.

Uh! Oh!

Trucks spec'd for flatbed, specialized or heavy haul are different too. The frame and axles are usually heavier, especially for specialized and heavy haul. And if you are only going to do flatbed, a truck spec'd for van or reefer will limit what you can haul.

Wanna go haul pneumatic trailers? Gonna need to install a PTO, a driveshaft and a blower. But wait! No room because the truck was spec'd for van or reefer service. Maybe you can install a wet kit, and run the blower with a hydraulic pump and motor. Again, where are you going to put the extra gear? Wet kits need a hydraulic tank. It has to go somewhere.

So after "buying" one of these gems, a driver wants to "move on" and try something else, he or she will need to spend even more money. Doesn't make any sense to me.

And these lease/purchase programs are structured such that by the time the truck is paid for, it has reached the end of its useful service life. Why would someone want to spend all that money for a truck that is essentially used up?
My lease will end with about 650,000 at 550,000 i can renew my engine warranty for 600 bucks . Ive done alot to my truck by choice i wanted new brakes new drums new shockes even bought new virgin rubber . I do all my oil changes on time . I make enough money every week to be ablr to do these things . and still take avg 1000.00 a week home . This week my check 1681.00.
thats with 3045 miles and 4 multi stops at 50 each . I Know some leases are rip offs but in 8 months ive had nothing but success with this company. Even with hometime i come back to work they run me to make the payments i need. Ive never been in the hole. This is my first time leasing , I believe if your smart control cost live within your means and get with a good company you can make it on a lease
 

BBChopper

Member
My lease will end with about 650,000 at 550,000 i can renew my engine warranty for 600 bucks . Ive done alot to my truck by choice i wanted new brakes new drums new shockes even bought new virgin rubber . I do all my oil changes on time . I make enough money every week to be ablr to do these things . and still take avg 1000.00 a week home . This week my check 1681.00.
thats with 3045 miles and 4 multi stops at 50 each . I Know some leases are rip offs but in 8 months ive had nothing but success with this company. Even with hometime i come back to work they run me to make the payments i need. Ive never been in the hole. This is my first time leasing , I believe if your smart control cost live within your means and get with a good company you can make it on a lease
What company?
 

Copperhead

Well-Known Member
The carrier I have my truck on with started doing a lease/purchase thing recently with their fleet trucks. It is a smaller outfit (300 van trucks, 100 flat trucks). I have been with them for 5 years. I never did the lease thing with them. I do know, that the company is a real good one. I ranks in the top 2 carriers I have dealt with in over 30 years. It only ranks in the top 2 because it is almost a tie with a carrier I was with previously that sold out so I had to move on. They have a really great customer base. They really keep a truck loaded and moving. Have no clue about layover pay, because I have never had to lay over somewhere for more than just a 10 hr break. I do know that their detention is pretty good. I have gotten detention numerous times. One was when I got to the customer with a load, I was almost out of hours and figured I would take a break there anyway, but they could even get to me and unload me for almost 10 hours. I got $375 in detention even though I used the 10 hrs waiting for a break! Not bad. Got $375 to sleep! Just got $240 the other day for having to sit an extra 5 hrs at a customer. Doesn't happen as often as it sounds. But when it does, you can count on compensation. I have had about 10 instances in 5 years where I was detained. Got paid compensation each time. Mileage compensation is about normal, I guess. It is a variable rate based on length of haul. I get between .97 and 1.13 a mile and get, right now, .47 in fuel surcharge. Extra stop pay is $75 for first and $100 for each one after that. The only cost they take for (other than what you would have on the LP program) is $10 a week for the qualcomm. Everything else required, like insurance and such is either thru them (very good rates) or on your own. After the first year, they reimburse you for you base plates. Permits are free. They use Transflo for sending them paperwork. No cost. Mike Herre owns an operates the company. He is first class. And he has a real great staff of folks in the office.

I also know, that the trucks they have available are very well maintained. The shop guys are fantastic and well motivated. And Matt, the VP of maintenance, is a sharp guy. He was a shop supervisor when I started there, so I knew how he did things out on the shop floor. The trucks are pretty good as far as fleet specs go. Mostly FL Columbia and Cascadias from what I have seen. I might have seen a Prostar or two also. I think they also still have the APU's on them, but don't hold me to that one. I just haven't given the LP program a serious look see. I might have to in the near future so I know more about it when someone asks.

Not sure of your location or how this would work for you. Give them a call. Fremont Contract Carriers, Fremont, NE. 800-228-9842. Ask for Scott in recruiting. He is a no BS kind of guy and will either give you all the information you need on a LP deal or will direct you to who does. You could take a quick look online and see what they say there... Fremont Contract Carriers Trucking Company - Home

Whatever you decide. Good Luck and Happy New Year. If you want, you can tell Scott that Cliff on 999 told you to call. I know Scott real well and I will give him a ripping if he feeds you a line of bull. Never have had to yet.
 

ritte4

Member
My lease will end with about 650,000 at 550,000 i can renew my engine warranty for 600 bucks . Ive done alot to my truck by choice i wanted new brakes new drums new shockes even bought new virgin rubber . I do all my oil changes on time . I make enough money every week to be ablr to do these things . and still take avg 1000.00 a week home . This week my check 1681.00.
thats with 3045 miles and 4 multi stops at 50 each . I Know some leases are rip offs but in 8 months ive had nothing but success with this company. Even with hometime i come back to work they run me to make the payments i need. Ive never been in the hole. This is my first time leasing , I believe if your smart control cost live within your means and get with a good company you can make it on a lease
What company do you lease from
 
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