Thoughts On Western Express Lease/purchase Program?

Just wanted to get some of your thoughts about the lease/purchase program at Western Express (pros and cons).

I don't know anything about Western Express' program, but I would NEVER lease a truck from or through the same carrier that I am getting all my work from. It is just bad business, IMHO. Note that a lease-purchase is not the same as a true vehicle/equipment lease from an external financial source, i.e., PacLease, Penske, your bank, etc.

I have leased, purchased and rented plenty of trucks over the years, but each of those is simply a different method of financing and is not tied up with a carrier and their operating agreement. None of the three methods is inherently bad or good and each has its place in the appropriate circumstances.

Just put your question in the search bar at the top of the page and you will get all the answers you need. IMHO Don't do it. Stick to being a company driver.

From Landline Magazine Want to avoid getting burned by a lease-purchase agreement?

and the first comment was: It's simple. Just don't sign on.

It's board policy, that we don't debate pros/cons of leasing. We simply recommend as a newcomer, that you don't even consider it for your first year - so you can focus your attention on "learning the ropes", and getting experience safely and efficiently operating your truck - without the worry about running a business and trying to make your overhead/payments.

Rick

Michael, as a fill in, I'll point out there are some ex-owner ops on this forum. They went company driver because there's less headache that way, and the bottom line money is just as good.

Don't lose your head like this guy did:

I would NEVER lease a truck from or through the same carrier that I am getting all my work from. It is just bad business

Thanks Not 4 Hire! That right there is one of the most craziest things about these lease programs, and most folks just don't get it. Why in the world would you want to have the same people who own the truck and are taking your payments from you, have total control over the amount of work you are doing? It makes absolutely no sense at all. In fact it is a real recipe for disaster.

Michael P, welcome aboard!

It is your first post, and we are glad you are here! Here's a special treat for you...

I have dusted off one of our old classic threads on leasing, and it just so happens the person asking the question was wondering about leasing from Western Express!

Click on this link and you will get all kinds of information (pro and con) about The Western Express Lease Program.

There's fourteen pages of lively debate in this old thread, so read and enjoy! I hope you come away with a better knowledge of the issues involved in a lease program.

Funny Rick and I were discussing this very thing today on the phone. I agree COMPLETELY with not4hires statement. It is just bad business to lease equipment from the same people that control your paycheck!! Kinda like renting to own your home. What sense does it make to be making payments on something that is not in your name?

Just my 2 cents worth.

Funny Rick and I were discussing this very thing today on the phone. I agree COMPLETELY with not4hires statement. It is just bad business to lease equipment from the same people that control your paycheck!! Kinda like renting to own your home. What sense does it make to be making payments on something that is not in your name?

Just my 2 cents worth.

People rent to own their house for only one reason that is even remotely logical---their credit is so poor they can't get a loan. My rather goofy aunt went bonkers over this idea about 30 years ago and she had stellar credit She got burned too.