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Amber Alert

Monday, March 10, 2008

Lease option - Why you don't want to do this

Companies have had this option now for a few years. They have gotten a few drivers to sign into their programs. I once got sucked in by the lies that were told. I won't mention the company but they are well known on the internet.

Their advertisement really sounded good, and they made me think I was going to make a lot of money. The truth about this kind of program is, is you (the driver) get to make the payments on a truck to a company who already owns this truck, and you (the driver) get to foot the bill for all that high dollar fuel. There are a bunch of these companies doing this now, since fuel has went up, now you lease operators are going to be making even less money.

They advertise "lease option" no money down and no credit check. Yes, this sounds enticing to people who have poor credit, and a driver who is looking for work maybe has been out of work for a few weeks has no money to put down on a truck anyway. Then they throw in the #1 reason most jump on this option. NO FORCED dispatch, and go HOME ANYTIME, most of this is a crock.

Because most of the companies that have a lease option have a little note posted to the TOS of the agreement. No forced dispatch and can go home anytime, as long as the truck is being profitable. The kicker about going home anytime is, this cost you out the yazoo because you are more than likely going home empty.

Trust me, I know I have done this. I dead headed home from Illinois one time over 300 miles I had to put fuel in to make it home. So when I got home I was already in the hole a lot of money for my fuel, plus my truck payment for the next week.

The lease option companies give are not for a driver who has a family or a life at home. In order to make it work you need to stay gone for weeks and months at a time. Stop by the house if you have a load going near the house, then keep on trucking.

One big reason a lease option is a no no, is you NEVER will own the truck. Yea, some comapnies will let you think you are going to end up owning the truck. But they control whether or not you can finish the lease, most will not let you finish it.

My suggestion to anyone thinking of doing this option is to run away as fast as you can. Suck it up and take all loads given to you by your dispatcher, and make money. this is why we became truck drivers isn't it?