Good Lease To Own Companies?

Do anyone know of a good company that lease to own with no money down and no credit check?

I thought long and hard about it.

I can't think of any.

Thanks Old School.

No such thing as a good "Get Fleeced To Rent Their Truck".

Hey Thomas, my answer was a little sarcastic for a reason.

I'm not a fan of leasing trucks. I honestly don't know why people do it.

I completely understand the temptation, I've felt it's tug before. The whole concept of leasing trucks was designed by the corporate bean counters. They very carefully crafted the whole gimmick as a way to control their costs associated with running tucks across the country. Have you noticed how so many of these carriers advertise how they keep trucks in their fleet for no more than three or four years? Today's trucks are built to meet strict environmental regulations. At about 400,000 miles they start needing expensive repairs. So, what do we do about that? The consensus seems to be that we will lease them to our drivers once they get to be 3 or 4 years old. That way we don't have to eat all that maintenance expense.

Can you believe that? That is what happens. The lease operator is going to be getting some big checks, but he's also going to be spending the money just so he can keep his truck rolling. You can't make more money that way. In fact most lease operators make less money than good solid company drivers. It's a scam in my opinion. I am working on a project right now that kind of lays all this out from an economic stand point. Hopefully in a few weeks I can share it with you guys.

You can always increase your pay at this by being more efficient and productive. That is the formula for earning more money as a driver.

Short sweet answer. If you can’t afford to go buy a truck, don’t have the credit to carry that 150k or more purchase and don’t have a very very thorough understanding of the industry (if you did, you’d run like hell) you’re asking for failure and a financial disaster.

Okay, I'm totally ignorant on this subject. I can see how leasing is a scam and only benefits the company in the long run. How about Owner Operator? Wouldn't it be the same issue(s) as leasing? Any advantage? I guess you have to be really business savvy (and completely dedicated) to run your own rig, but obviously people do it successfully.

How about Owner Operator? Wouldn't it be the same issue(s) as leasing?

Here is the big issue as far as I'm concerned. The trucking industry yields about 3 to 5 percent profit margins. That's really tight stuff. That kind of profit margin screams for economies of scale. When you try to run a one truck operation competing against guys who have all kinds of purchasing leverage that you can't get, it just makes it tougher on you.

If you could take the coolness factor out of owning your own truck, nobody would do it. There's nothing cooler than rolling down the interstate with that long-nosed Pete looking like you are king of the transportation world. I don't know a single owner operator who is actually making a lot of money at this. They enjoy the satisfaction of being "The Man," but that is about as far as the satisfaction goes. There are plenty of company drivers making low six figure incomes now days. The math just doesn't work out for owning a single truck.

Nobody needs to try out getting in to trucking, and then try out being an O/O at the same time.

Ask any successful O/O and you will be told it takes years of experience to do both the driving and the running of the business in a profitable manner.

Ah! Got it, Old School and PackRat.

But those custom rigs sure are purty!