Profile For Alyssa J.

Each dealer is going to be different, loan mountain is not the exact same lease as a paccar lease. You will be able to deduct your payment from your taxes, not so with a purchase payment you will only be able to deduct depreciation for 3 years on a tractor and four years on a trailer. your accountant should tell you which is best for you. any lease agreement should be available to you as soon as the finance company knows who you are. fill out a credit app and ask for a copy of the lease agreement to show a lawyer or accountant. remember some carriers will not lease you on unless your name is on the title, make sure who ever you get lease financing from is on your carriers approved list.

About the credit app, I don't have very good credit and I am kinda concerned if they would charge me a higher rate for that...

And I wonder if it makes sense to go with a full service lease?

Allysa,

I cannot help much with your question, but I do have a question for you.

First, thank goodness you've earned your stripes and have a few years under your belt before taking this leap!

My question is this: Why? What, in your assessment would be different, beside the obvious? The reason I'm asking is, I wonder if it's a matter of having more freedom in/with your truck, as opposed to having to follow company rules in terms of what you can have in your tractor and how things are governed? I'm curious because I intend to consider something similar, but certainly not until I company drive for several years first.

Is it a pride thing for you? Is it an entrepreneurial spirit? A combination? What's your motivation for considering a lease?

Hi Joe,

I've been told by too many people that O/O is a bad idea...that it's not going to work out unless you are really into trucking. But to answer your question, I think to me it is a matter of freedom, and it just feels good to be working for myself. Maybe im too naive, I don't know.

So I've been trucking for a few years as a company driver now, and I want to get into my own truck and become O/O. I am thinking about leasing a truck from a dealer, anyone knows how that works? Anyone got a sample lease agreement for me to have a look?