to lease or not to lease

[scrmeagle]

I have been a company driver now for about 12 yrs. and im tired of just barley makeing it!!! I have been thinking about leasing on with Prime but a few people have told me not to!! Yet there are alot of Prime drivers out there and they seem to be doing just fine!! Are there any Prime drivers out there that give me some feed back? Or any drivers who are leasing with another company? My credit SUCKS!!! so im aware that is a problem. Any one who can help me, would be apprecaited!!! Im tired of running the same 7-8 states. I live in SC and i want to run CA and back. Staying out isnt an issue, i dont need to be home every weakend.

Steve (scrmeagle)

[bearfoot_PREV (deleted)]

STOP DO NOT LEASE TILL WE HAVE TALKED!!!!!

i am a driver that has been around the inustry for a few years and got my --- kicked by quite a few companies on leases and know where not to go so call me if anyone in this system is looking at leasing and you are getting a "feeling"pick up the phone and call me anytime i will make myself available for this topic my numbers are 763-772-8840 and when that one quits 605-786-3467
DO NOT LEASE WITH PRIME THEY ARE THE OLDEST SCAM ARTIST IN THE BUISNESS I HAVE BETTER OPTIONS !!!

[scrmeagle]

Thank you barefoot for your input....i would like to talk to you..i have my app in a t prime but havent heard from them yet. But, i promise im not going to do anything till i talk to you. You have your own business or something?? I live on the east coast but i want to run the west coast.
Plus i just found out some bad news...my last company is charging me with an abanded truck!!!! its bull----TT I droped the truck of at their terminal in Birmingham and got on a bus and came home. They are pissed because i didnt drop it off where they told me to, at thier main terminal in Memphis, TN. Hell if i was to abandon the truck i would have left here and saved me a days work of driving and saved my money i spent on the damn bus ticket!!!!!!!!! So, for that reason i dont think prime or any one else for that matter is going to hire me. my goose is cooked!!!!!

Steve (scrmeagle)

[(deleted)]

Many people have truck leasing horror stories but like anything else you need to weigh the different options available.
For someone without a large down payment and/ or without real good credit leasing is the next step to becoming an owner operator.
Also leasing gives an individual the chance to see if they can actually run their own trucking business. learning about expenses and saving money are vital to success.
Many of the large companies whom lease trucks allow accounting firms such as ATBS (American Trucking Business Service) to downoad fuel and other records for a nominal fee to make your job easier. They also send monthly profit and loss statements, quarterly tax estimates and do year end taxes.
Even with all the assistance, it just doesn't work for some people.. especially if they intend to take time off... because whether they run or not, the fixed expenses are still due at the end of the week. And once behind then they have to play catch up... and that's not fun... But if you go out and buy a truck, you also have fixed expenses... great thing about the lease is they are set up so if things don't work you can just turn in the truck and walk away... no blemishes on your credit report.
I am finishing up my third lease with the third company I've leased with. People have different reasons for signing with different companies... The bottom line of the income statement is my reason, and I feel I have done very well. My bank has preapproved me for a truck loan and having those profit and loss statements along with a professionally prepared tax return didn't hurt either.
I could probably write on this subject for hours on end but instead I'll just end with these few words.... it's like anything else... do your homework, contact many different companies, take notes, evaluate priorities and then make a decision. But remember, you have to work at making your decision the right decison!

[freightshaker37]

#1 Lease Purchase - Don't do it - if you cannot outside finance do not do it...If the company holds the pink slip they have too much power over you.

#2 if you cannot cash off a good used truck and trailer...Don't do it.

#3 In regards to #2 if you are not a competent dielse mechanic...Don't Do it.

And #4 the guy is right, PRIME is the oldest scam artists in the business...Formerly known as Midwestern Distribution of Ft. Scott, Kansas back in the 70's...And ran the same scams then.

[easyrider63]

`First off why would you want a DISPATCHER to have control of your financing...don't you think that he might(lol) take advantage of the situation
Since you've already mentioned that your credit is bad you've already proved to yourself that you are not ready to manage a company

[newtrucker]

.hey stranger, I haven't heard back from you in a while, so thought I would drop you a line seeing if you are ok.

Jeremy

[turtle1968 (deleted)]

if you're looking to leasm somewhere, and prime wants a credit check, another company that offers lease is stevens. i know they dont ask for anything up front. and i hear they pay pretty good as far as lease drivers go. check em out

[warriorpoettkr]

`Coming from someone who has done a couple of different leases I would say i agree with most folks here. Do your homework and find the right company. I am going to be a bit biased for a moment and say that the company I am with run the best lease program I have found so far. The main reason for that is that they are not leasing the trucks for a standard term like most companies. You are sub leasing the truck from them and the lease term is only for as long as the truck is under lease to them. Then you have the option to buy it out at the end. Most companies will make you sign a standard term lease, keep you in the truck for a while, then starve you out so they can lease the truck to a new driver for the same time period lease. That is how they make their money. Most of the trucks that my company has now for lease have about 1.25 years left on the lease. Be very careful when you are evaluating a company, as some do not have a "walk away" lease and can charge you quite a bit of money if you decide to turn the truck back in. Good luck and I hope that you are able to find a good fitting company.

PS. For anyone interested I am doing a deal on my recruits and will pay you $100 after you complete your first trip for the company. That is company or lease drivers. Contact me with any questions please and I will be glad to talk to you all!

[grizz]

As far as the lease goes be very carefull you have to think and know what your per mile cost is and if what they are going to pay is worth it or not as far as abandonment you need to get with OOIDA

[pdelney]

`I recommend Sherman Bros. heavy trucking out of harrisburg oregon. They are not going to screw you if you lease a truck from them.They do mostly !! western or up and down I-5, they do 48 also.They have a good lease program, and if you are already an O/O they have good terms to lease on with them. But, I would recommend to anyone try to get outside financing first. Tucker Capital is good with working with little or no money down and rough credit folks. Being an O/O is rough so know what your getting into, it is not for everyone.

[union600 (deleted)]

`have company i am doing lease purchase thru they allow you to take the truck to anycompany from day one. when i needed a new engine they rewrote the contract to cover the repair(complete in frame)e maill me if you are seriously interested still. i can give you their phone number my email is (removed)

[jerrym1976 (deleted)]

[deleted]