Financing a Truck and My Experience

[Rawze]

(09-07-2017 )Fergie Wrote:  Ok guys help me out here, curiosity is killing me. With my line of work I don't have to deal with leases and don't know much about them. I've never been fond of car leases cause you pay all that money and at the end of the lease you have nothing to show for it, no asset. Dealerships love them cause it's obviously a money maker which to me is a big red flag. I feel the same way about these aftermarket warranties they always try selling. On a truck lease who's responsible for breakdown repairs? My opinion if I don't own that truck I'm not paying to fix it exception would be tires and brakes. $710 a week is $36920 a year, that'd buy that 2011 freightliner the first year and probably pay for licensing and insurance! Pulling for these big fleets do you have to lease a truck from them or can you say I've got my own truck? For that kind of money you could buy a new truck, five years have it paid for and under warranty. Then after 5 years you've an asset that could either be sold or keep running if it's a good truck. I'm sorry I'm very ignorant on this aspect and just trying to see why someone would do it.

Any decent truck lease lest you pay a baloon payment at the end for the title. You do gain asset because of this.

The responsibility of ALL the maintenance is up to the O/O and NOt the leasing company!. they almost all take out money for "maintenance fund" but that is NOT what one should be using for "Maintenance" or even repairs for that matter.... This is where 99.9% of all failed lease operators do and argue about it like a bunch of idiots. You should be using YOUR OWN MONEY!!! for all maint and repairs and letting that "Bullshit(maint) fund" build up so that it will cover that balloon payment at the end. -- Period!.

There are 19 things listed in my book that EVERY SINGLE PERSON who is considering leasing a truck should avoid at all costs. After that, it is all up to YOU to make it work and be profitable, and to keep the truck on the roads, and if there is no chance of you getting the titel at the end -- DON'T BOTHER TO LEASE IT!!! -- STAY A COMPANY DRIVER!!! because it is that ASSET that makes it worth it in the end and nothing more.