The Lease Purchase Contract From Hell (That NO TRUCKER Should EVER Sign!)

Ойын-сауық

The Lease Purchase Contract From Hell (That NO TRUCKER Should EVER Sign)! In this video, we'll review some of the points of a dirty LEASE PURCHASE CONTRACT we discovered, that YOU (as a truck buyer) should beware of!
We were contacted by one of our Subscribers from our Smart Trucking Community who were in distress with a LEASE PURCHASE CONTRACT they had signed about a year ago.
After much communication with the owner operator, we jointly decided that the best we could do with the situation (as we are NOT lawyers) is to make the issue public, so other owner operators and lease operators in the trucking industry would be aware of 'some' of the dangerous clauses that could appear in a LEASE PURCHASE or similar owner operator contract, and avoid getting into a similar LEGAL MESS and distressing situation.
We are unable to disclose the identity of the LEASING COMPANY or the OWNER OPERATOR(S) involved as it could jeopardize the owner operator's position in the LEGAL BATTLE.
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"PLEASE NOTE: THIS VIDEO CONTAINS PAID SPONSORSHIP ADVERTISING FOR GP TRANSCO."
Here's a link to check out their site and find out if they're a good fit for you. Definitely take the time to investigate this carrier.
www.gptransco.com/drivegp
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Пікірлер: 217

  • @mac469
    @mac4693 жыл бұрын

    By not disclosing the lease company you withhold important info and inadvertently protect them. It’s about time we man up and call their name so we can be mindful.

  • @djbolandTrucking
    @djbolandTrucking4 жыл бұрын

    This crap has been going on ever since I started driving back in the 90s you figure people would wake up and get away from lease purchase but I guess they want to be an owner operator so bad that they're willing to sell their soul to the devil. If you're a lease operator you're not an owner operator you are renting a job and paying for somebody else's truck.

  • @cassiuspuckett8789
    @cassiuspuckett87894 жыл бұрын

    Well, I stepped into one of those "contracts", but the saving grace for me was "If I brought the truck back to them, I could just walk away." I started to get into serious financial trouble because of breakdowns and child support, that I finely said that's it, I need to go to work as a company driver until I get my finances straightened out. And because of that clause I was able to walk away. I lost. A batch of money that i put towards the truck, but they accepted all responsibility for the truck and I just worked on clearing up my personal finances. But I've known several people who been burn just like the couple you talk about in your video. Thanks for the advice Dave!!!!

  • @juanflores2882

    @juanflores2882

    4 жыл бұрын

    Thanks for the story Cassius.

  • @ianhumphry1

    @ianhumphry1

    4 жыл бұрын

    thet is actually called "walkaway lease"

  • @peterweiss6140

    @peterweiss6140

    4 жыл бұрын

    If you go back to the early days before Dunford bought Laidlaw it was a revolving door, drivers walked away lost their down stroke and they would re lease the truck to the next victim. I met one in the early 80’s in Buffalo his first trip in his leased cab over Kenworth that had to be 10 years old. He had no idea what he leased when I asked him about the truck, he asked me what he’s supposed to do with the toll receipt keep it give it to the company. Very sad to take someone’s money and offer no training,

  • @cassiuspuckett8789

    @cassiuspuckett8789

    4 жыл бұрын

    Yeah, Prime was big on that back in the day. I don't know if they still do it but there you are....

  • @antor.j.medrano
    @antor.j.medrano4 жыл бұрын

    Even the dealership tells you, it's better to buy and lease thru the bank o credit union.

  • @scottied67
    @scottied674 жыл бұрын

    I was an owner operator but my truck broke down so many times, I got down to my last $100 bucks trying to keep it running. I signed a lease contract for a new truck with the intention of starting over. Nearly 4 years later the company called me in and terminated my contract and took the truck back, then sent me a bill for $8927 bucks.

  • @michaelwalker1145
    @michaelwalker11454 жыл бұрын

    Better off buying a 30+ year old truck rebuild it and don't go to California 😂 A lot of the big carriers trucks are on a 5 year lease, here in the UK. Apart from accident damage they come with full service and back up. We get paid per hour not mile or load, the spy in the cab limits your driving hours. Most are home each night if you drive for the big super market's , although the truck never stops ,one out one in. Trampers are out all week Euro runs may be two or three weeks out depending on who you work for. PS a lot of European countries don't let trucks move on Sundays

  • @terryrafter4116
    @terryrafter41164 жыл бұрын

    NEVER sign a lease contract !!!

  • @juanflores2882

    @juanflores2882

    4 жыл бұрын

    It`s the worst decision!

  • @earlstacey2709

    @earlstacey2709

    4 жыл бұрын

    I leased a car once. Dumb!!!! Thank God I didn't lease a semi truck !!!

  • @MikeBrown-ii3pt
    @MikeBrown-ii3pt4 жыл бұрын

    Sounds just like all of the lease/purchase contracts I've ever seen or heard about. I signed one once with a major reefer freight carrier. I had a plan when I did it though and it worked out for me. I drove for that carrier for 6 months, then got real financing through my own bank. I then bought out the lease and took the tractor to the company of my choice. However. I was already an owner operator so I knew what I was getting into. I also had money put aside to fall back on during short weeks.

  • @papasmurf1904
    @papasmurf19044 жыл бұрын

    That is just plain pathetic and unjust! If my Dad was still alive to see what the profession he gave his life to has become..... it would kill him! I am 57 years old and have been a truck driver since 2004......and, it has NOT been good to me at all! Thank God Almighty that my driving record has stayed clean.....but, this industry anymore is awful.....and, God willing, in a couple years i am done with horrendous nightmare! And, don't anyone judge me.....for you have NO f-cking idea what i have endured and been thru! Then again, maybe you DO! =#

  • @jimanon634
    @jimanon6344 жыл бұрын

    I am a lease driver, fortunately for me my company's lease purchase actually works. My truck is currently in the shop having the motor replaced under warranty, I have a loaner truck at no additional charge. I make very good money and several titles to these trucks are handed out every year. My company owns 27 other trucking companies and just purchased CT Transport after ComCar went under, so we can transfer to these other companies under their authority. I work when I want and go where I want.

  • @mmtruckingllc657

    @mmtruckingllc657

    4 жыл бұрын

    Nice,,, what company, I might want to go there?

  • @jimanon634

    @jimanon634

    4 жыл бұрын

    @@mmtruckingllc657 P&S Logistics. I work for myself, my truck is leased to P&S Transportation. Under PS Logistics there are 27 other companies you can lease too including a refer company Purdy Brothers, There's 1 catch, you have to be a company driver for 90 days, but there's a pet and rider program from day 1. The only thing better would be owning the truck, but I will in a year and a half.

  • @jimanon634

    @jimanon634

    4 жыл бұрын

    @@mmtruckingllc657 honestly it's so good I don't even care about the referral bonus which is $5000.00. Best company I've ever worked for, orientation laid back, flight on a plane not greyhound, private hotel and they'll tell you to have a beer at the end of orientation. If you haven't pulled a flatbed they now offer training. Been here 3 years.

  • @connorbaz5980
    @connorbaz59802 жыл бұрын

    Me and my Brother in Law are currently in the "big side" of the industry, but it's not looking up, no matter how far down the line you go. We're never going to make the mistake of getting into a lease purchase program either. I have had Zero Debt my whole life, and he's so close to getting out of debt from a loan he took to try the Owner Operator life, and let me tell you...he learned a LOT of lessons from that chapter in life. Has a totally different game plan for the next O/O endeavor. The general plan is to work for Walmart for a year or so, (he's a 6 year vet, working with Walmart for almost 2 years IIRC) pool our money to get our own truck (pay for it in cash) hopefully a 379 Glider so we can avoid the emissions and ELD crap, and work for a company in our region of Texas. I'm hoping we can find a job working direct for customers, and avoid the whole mega carrier/load broker mess. I will say though, I'm currently with a mid sized carrier (Frozen Food Express out of Lancaster Texas) and although the pay is not great for solo drivers, team pay is pretty decent, and (apparently) it's a low stress job. Dispatch isn't calling you 24/7, you're not forced to dispatch, people are friendly, and service is usually pretty quick. The biggest issue is that if you decline a load, they'll "blacklist" you for a couple days or so, and won't give you any loads. That said, I see from other angles and perspectives that my job isn't so bad after all. I've also been getting much better loads and routes since I've been with the company for close to a year. In the beginning it was pretty tough, but things are finally looking up. Still, I gotta keep moving forward to that next level. Thank you for all your advice and videos, humor and stories, and encouragement to Work Smarter, Not Harder. Edit: are there any specific tips you could give to a young guy who's looking for a mentor? I'm sure guys like you have forgotten more than I'll ever know, and I want to learn from the real pros themselves.

  • @jeffreyes1568
    @jeffreyes15684 жыл бұрын

    It's all predatory. The driver "leasing" the truck is an expendable asset.

  • @chandraboyd9790
    @chandraboyd97902 жыл бұрын

    I'm a LP, I do well, chose this route because didn't know enough about being an O/O, I like the fact everything is taken care of including IFTA, I just cover fuel, 3 year lease, & I have 1 more year & the truck is mys, but will probably sell it. It is some good lease programs out here, but very few, he is definitely correct to read over any contract

  • @Ind5911
    @Ind59114 жыл бұрын

    It's simply a TRAP ...kudos to smart trucking for making driver fraternity aware and literate about this deadly trap !

  • @DAViDD767
    @DAViDD7674 жыл бұрын

    I just hit the join button! Thanks man!

  • @cornbread1209
    @cornbread12094 жыл бұрын

    Thank you for exposing the dirty business of company truck lease programs.

  • @erika.8293
    @erika.82934 жыл бұрын

    I’m buying a truck from a carrier and I call to payoff the 38k that is shown on my statement for the week that is left and it turns out there’s an “extended” contract in addition to it to it jumped up to 65k the truck was a 2016 with 125 k miles on it and I got it on dec 2018. So the original price I was getting it for showed 67k but with that extended contract I am really paying 120k don’t lease purchase from USX

  • @x9cito2011
    @x9cito20114 жыл бұрын

    Very good video as always! Thank you so much!

  • @SmartTrucking
    @SmartTrucking4 жыл бұрын

    Good Day Big Strappers. I hope you liked today's video and got some value from it. How 'bout you? Any regrets about getting into a trucking contract you wished you'd NEVER signed? (NOTE THE SACRIFICE DAVE MADE IN THE THUMBNAIL. LOST A LITTLE HAIR OFF HIS ARMS.;))

  • @michaelmarburger1003

    @michaelmarburger1003

    4 жыл бұрын

    WOW!!! THIS IS WHAT THE TRUCKING INDUSTRY HAS COME TO? This contract seems like a nightmare. My dad was buying an 81 Pete back in the late 80's and the truck you mentioned in the video reminds me of that one my dad was attempting to buy because he found out later on that the block was bad and kept spinning the cam bearings. This truck was down like 3 months out of the year and it just happens. some trucks are just lemons. I truly feel bad for this guy with a lease agreement like this, but at the end of the day a driver HAS to look out for themself because the dispatchers and the companies won't. Hope this guy is able to recover and get another truck and/or job.

  • @michaelmarburger1003

    @michaelmarburger1003

    4 жыл бұрын

    I never signed any contracts or lease agreements in my career but my first time out after leaving my dads little 2 truck operation, I went with another local company that would "take care of me" and 2nd trip out was a load of office supplies going to west Colorado in late November during a blinding snowstorm (my first time driving that far west or in really bad weather) when they said that I would NEVER be send west or the Mississippi River.

  • @earlstacey2709

    @earlstacey2709

    4 жыл бұрын

    I always thought those carrier owned lease trucks must have been a trap. Run like a madman or they will crush you. Sad that people get stuck in those deals. Thanks for letting us know how dirty they can be!!

  • @michaelmarburger1003

    @michaelmarburger1003

    4 жыл бұрын

    Earl Stacey really bad part is if you do finally get the truck paid off, it is all worn out from having to run so much and drive so hard toget it paid off.

  • @annv7485

    @annv7485

    4 жыл бұрын

    I signed onto a lease twice through the company I drove for. 1st time had a lemon gave her back after 3 months. 2nd time lasted 15 months, the truck was just shot too many repairs since it was a former company truck but that one let me save enough to lease one from LoneMountain. It is saving me 1400 a month just hoping she runs without to many major repairs. Time will tell.

  • @CrackCrackCracker
    @CrackCrackCracker4 жыл бұрын

    When you say they bought a lemon truck brand new first thing that came to mind was oh hell they bought a Sterling.

  • @hamishkay3010
    @hamishkay30104 жыл бұрын

    Great informative video and definitely something to be aware of when I become a trucker

  • @rolling3868
    @rolling38684 жыл бұрын

    Great video Mr. Dave, thanks for education 👌👍🙏👏

  • @chucky1time337
    @chucky1time3373 жыл бұрын

    100% you just saved a hack of a lot people a big time headache with your advise keep on truckin and thanks for the great advise

  • @SAPPY4HAPPY1
    @SAPPY4HAPPY14 жыл бұрын

    I’m SO glad you did this video. Now I imagine that the lease/purchase programs offered by these carriers don’t require a high credit score to qualify. So if you’re credit isn’t that great, what are your suggestions for finding a lease/purchase that will get your foot in the door without relying on a carrier? Or just skip lease/purchase idea all together?

  • @charlieday5437
    @charlieday54372 жыл бұрын

    When I was much younger I fell for the Celadon Lonestar lease. The glorified proStar was a beautiful truck and I never went in the hole but statement after statement I realized I was never paying that truck off. I resorted to training and my pay got a lot better but the overall goal of owning the truck was still never going to happen. After 9 months I got a load to a terminal near my dads house, parked the truck/turned in the keys, called dad had him pick me up. A few months later Celadon went belly up and I was grateful to the higher powers that I got out of that lease when I did. From there twenty-something year old me decided I’d never lease a truck directly from the company I was working for ever again. I got lucky, learned my lesson, and wised up to finding company positions that out pay ANY lease options out there. Long story short, don’t crap where you eat!

  • @kelvinadcock5767
    @kelvinadcock57673 жыл бұрын

    Love your videos. Thanks for the advice.

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    Thanks for watching Kelvin!

  • @SinghSatnamable
    @SinghSatnamable4 жыл бұрын

    Thanks for sharing

  • @MrOverfloater
    @MrOverfloater4 жыл бұрын

    With all the social media & available info, how the heck is this crap still being practiced?

  • @ianhumphry1
    @ianhumphry14 жыл бұрын

    i saw one once that had a clause in it that said "driver is responsible for all other costs incurred etc....." which came down basically to "if you are driving anywhere other than from shipper to receiver you will pay them for the mileage" stay away...............the only lease (if any) you should consider is a "WALKAWAY LEASE" which is just that, a lease that you can just walk away from.

  • @Durahan82
    @Durahan824 жыл бұрын

    I guess, trying to own a truck isn't worth it anymore with all the hassle 😑

  • @OldDunollieman
    @OldDunollieman4 жыл бұрын

    Trucker Josh at TJV on KZread should have had this video when he leased his Volvo.

  • @8000RPM.
    @8000RPM.4 жыл бұрын

    Translation into English greatly appreciated... Being a truck driver has been on my "bucket list" for most of my life. I even flirted with the idea of taking a pay cut to become a trucker. Not anymore. You guys, and gals, really have it hard. I'm not going to "lose my shirt" before I "kick the bucket". Now if you caught all of that, you know what a "picture taker" and a "local yokel" is, which means you're old enough to be retired,....like me.

  • @bernardoperez3499
    @bernardoperez34994 жыл бұрын

    Thanks Dave I learn a lot from you

  • @jamesrohling
    @jamesrohling4 жыл бұрын

    Sounds like Prime...

  • @abrahamjackson6019

    @abrahamjackson6019

    4 жыл бұрын

    Yep.

  • @NomadicScooter

    @NomadicScooter

    4 жыл бұрын

    I trained and worked for prime as a company driver several years ago. Just like going to a store (buyer beware) same applies at this company and what this driver is saying in the video. Dont sign anything you dont understand. If you do enter into a contract with a carrier leasing one of thier trucks then you will be held liable and responsible for everything in the contract and including breech of contract if you decide to walk away.

  • @blkbishop112

    @blkbishop112

    4 жыл бұрын

    Or US xpress

  • @bmw318iz
    @bmw318iz4 жыл бұрын

    The worst of them all are the car carrier who wait until you make half of the payments and then they star giving bad loads until you can't survive and take the truck away! I know people who lost up to 200k or more... a lawyer to read your contracts will cost a lot less than loosing your truck

  • @86thsamurai
    @86thsamurai4 жыл бұрын

    Want a truck? Go through a bank or credit union. NEVER LEASE TO OWN. EVER!!!!

  • @HelpMe-kj2kh

    @HelpMe-kj2kh

    4 жыл бұрын

    Why tho ?? What's wrong with leasing ??

  • @grejsancoprative

    @grejsancoprative

    4 жыл бұрын

    @@HelpMe-kj2kh Because with leasing you are only pretend owning the truck.

  • @DjGohanXx

    @DjGohanXx

    4 жыл бұрын

    Everybody that I have followed before I got into trucking still don’t own their leased trucks or are with a different company

  • @marionel7591

    @marionel7591

    4 жыл бұрын

    If the couple he is talking about went through a credit union what would have been different? The truck stayed in the shop and they could not pay the monthly notes. What do u think happens if u dont pay the monthly notes to the credit union?

  • @jamesmcfayden9778

    @jamesmcfayden9778

    4 жыл бұрын

    @@HelpMe-kj2kh what wrong with leasing,,, everything. It's pretty much a scam. Majority of drivers who lease never truly get the truck.

  • @KozmikEl7
    @KozmikEl74 жыл бұрын

    Thanks again Sir!

  • @juanflores2882
    @juanflores28824 жыл бұрын

    Of course the leasing co. will take money no matter what!

  • @warrenmills16
    @warrenmills164 жыл бұрын

    I enjoy ur video every time you come on

  • @tuckerwilliams6816
    @tuckerwilliams68164 жыл бұрын

    Wow! What great information DO NOT LEASE and own your sole to the company store.

  • @robertgary3561
    @robertgary35614 жыл бұрын

    Courts have upheld binding arbitration. You're legally waving your right to jury trial when you sign it. Its pretty common in almost all contracts today.

  • @cudwieser3952
    @cudwieser39524 жыл бұрын

    Aside from constitutional arguments, the clause of non-cancellation has got to be illegal in and of itself. Wasn't indentured servitude made illegal around the time of slavery. Nearly all contracts have a get out clause, albeit with a penalty. I suspect a good lawyer would destroy that contract but I suspect those bound by it are either too poor or, heavens forbid, illegally working. It really doesn't read like a contract that would be presented to anyone who isn't desperate.

  • @RicArmstrong
    @RicArmstrong4 жыл бұрын

    Work OTR for a year, save up 15-20k and put down on a quality used truck that you will actually own. Simple as that.

  • @clydeacor1911
    @clydeacor19114 жыл бұрын

    Of course the company is going to protect themselves 200% most people who get into these contracts generally have very bad credit so they can't get a traditional loan and these companies know it so they take full advantage of it and the people. Kinda like high risk loan places require not only high collateral they also charge you 300% to 400% interest. If you want to own your own truck get a cheap used one and run local for a while until you're in a good financial situation to do more. I myself have bought a couple trucks from friends that sold them to me on payments all with a hand written contract and a handshake. They were never more than $500 per month and no interest. Not to mention fuel insurance, and repair costs are about half as much running local as compared to over the road and the pay is also generally better and usually by the hour depending on what you're doing.

  • @graymikep64
    @graymikep644 жыл бұрын

    Thank you

  • @heinzkitzvelvet
    @heinzkitzvelvet4 жыл бұрын

    Line haul, company driver, home every night. That's the best gig I've found in this business so far. I've been chasing $1000+ bring home pay, per week, since '09 when I started this journey. I've finally achieved it, and I don't have to live in truck stop parking lots anymore. Best job I've ever had. Got a nice set route, 533 miles a day Mon-Thur + $30 stop pay everyday. Then a junk, one-and-done run on Friday. Earning 21cpm MORE than I was at my last company. I'll retire from this one if they'll let me.

  • @paul2044
    @paul20444 жыл бұрын

    I have always told those that want to lease purchase or purchase a Tractor, that to learn your Truck and have some idea OR become proficient in diesel mechanics , would cut down trauma considerably. Some of the problems on Rigs are absolutely fixable ( excluding internal issues ) , reducing down time and keeping you rolling !! P.S ( Tools are Required ) !!!

  • @joyceneville9214
    @joyceneville92144 жыл бұрын

    Arbitration clauses are unfortunately very common in the United States, they are buried in dozens of different kinds of contracts, notably credit cards and sometimes even employment contracts. They are evil and sometimes hard to get struck from the contract.

  • @MAX999MAX
    @MAX999MAX4 жыл бұрын

    Good job

  • @TNTN1977
    @TNTN19774 жыл бұрын

    I team leased with my wife for 6 years. Schneider had alot of freight so we did good.

  • @marchalpeck470
    @marchalpeck4704 жыл бұрын

    whatever happened to all the honest people who do not take advantage of hard-working truckers they're getting harder and harder to find

  • @juanflores2882

    @juanflores2882

    4 жыл бұрын

    Impossible to find!

  • @scottmc2626
    @scottmc26264 жыл бұрын

    Lemon trucks aren't that uncommon anymore. Just consider where Freightliner's are made. Hint: The country of manufacture rhymes with the gasoline company that has the star on it's logo.

  • @pennise

    @pennise

    4 жыл бұрын

    Mexaco?

  • @Greedy1408
    @Greedy14084 жыл бұрын

    Sounds like one of the mega companies lease purchase program

  • @kimbehne2226
    @kimbehne22264 жыл бұрын

    That contract was written by satan himself, just plain wicked.

  • @Android_Warrior

    @Android_Warrior

    4 жыл бұрын

    You mean Attorneys?

  • @juanflores2882

    @juanflores2882

    4 жыл бұрын

    right

  • @Rachid-zw9eu

    @Rachid-zw9eu

    4 жыл бұрын

    and what we should call the drivers who sign them.......

  • @dondidykes6664
    @dondidykes66644 жыл бұрын

    That's rediculious!! 5k a month is crazy if your payment isn't 1500$ - 2000 a month

  • @patriciamartin4261
    @patriciamartin42614 жыл бұрын

    u r correct!

  • @hulk7272
    @hulk72722 жыл бұрын

    If at all possible, I would NEVER, EVER do a lease purchase contract through the carrier. Do the lease/purchase through the truck dealership separately. My only business with the carrier would be the contract for freight.

  • @CKN_TRANSPORTING
    @CKN_TRANSPORTING25 күн бұрын

    Big ups to GP transport.. yea and you so right ✅️ i don't know how the governmenting Board really allow these rip offs to do this to drivers for so long...

  • @xenium-uu8fh
    @xenium-uu8fh4 жыл бұрын

    Thankyou!

  • @maximuselgrande1513
    @maximuselgrande15134 жыл бұрын

    I’m doing great on my lease to own two years already on this lease never had a problem. Yes sometimes my paycheck is $1700 after all expenses something that isn’t bad at all with this pandemic.

  • @xxSwiinkxx
    @xxSwiinkxx4 жыл бұрын

    Buy the truck yourself, or take a bank loan, Never trust ANY CARRIER to pay properly or write a humane lease contract.

  • @marionel7591

    @marionel7591

    4 жыл бұрын

    What would have been different if the same couple he is talking about would have bought that same truck trough a bank? Truck stayed broken down and still cant make the monthly notes? Truck will be lost and will be sued for difference?

  • @patchrat1
    @patchrat14 жыл бұрын

    Really good information, They suck new drivers into the lease leading them to believe they will be raking in the cash , If one really wants to be an owner opp your much better off building your credit as you gain experience then going to your bank and arranging finance the payment will be a lot less than the lease payment I’m a company driver for a small carrier that has both company and owner opp I make more than the owner opps if I have a bad week it’s just a bad week I’m not going to loose anything a lot less headache these days with the rates like they are , if I was to make the switch to owner opp I would buy new not used your fixed payments should hold steady for the first 3 to 4 years that cheep used truck could end up costing you more money in the long run unless you are very lucky and can do the repairs your self but you’ll still have down time

  • @dankono4729
    @dankono47294 жыл бұрын

    You are %100 right...we have been there and lived this nightmare...we lost out on well over $30k...I'll name the company in hopes that no one else falls victim...John christner trucking out of suplpua Oklahoma...run like hell from them...

  • @cornbread1209
    @cornbread12094 жыл бұрын

    If a trucking company offers a truck lease program, stay away from the program AND the company that would even think of offering such a dirty idea; don't even drive for that company at all.

  • @johnnymexico4751
    @johnnymexico47514 жыл бұрын

    Signed the lease, didn’t get the truck he wanted, has gone through two rental trucks, due to breakdowns... top it off freight rates dropped. He’s back to company driver now.

  • @kevinimp8217
    @kevinimp82174 жыл бұрын

    6000$ in a month?!? thats double my monthly repair bill and maintenance. I thought i had it bad but dam these lease company's dont have a soul

  • @jayrider2726
    @jayrider27264 жыл бұрын

    They are aloud to change your lease agreement before the last payment is due....The only option they offer you is another truck with 5 more years of payments. It happened to a relative of mine. It was kllm

  • @sallybright7172
    @sallybright71724 жыл бұрын

    I know the carrier. They tried to hoodwink me into one. I runnnnnnned away

  • @owneroperatorlife4380
    @owneroperatorlife43802 жыл бұрын

    Some points to think about. Most wanna be owner operators lack the business understanding side of trucking. I watch them all the time failing again & again due to their not understanding of how to run a business. They come in to owner operator business with a driver mentality. If I was a leasing company I will protect myself. What happens is that we want to learn business on the cost of others. That’s not how things work in the real life, there is a price to pay.

  • @calebspaul4792
    @calebspaul47923 жыл бұрын

    Thank you for the video my husband was considering a lease purchase watch the video remembered what an elder gentleman who was a seasoned driver and person if you will suggested going to a bone yard buy a truck rebuild the engine and or transmission he said my husband would come out ahead and slrep at night a whole much better sounds like these high interest credit card companies who promise you the moon and you wind up with the outhouse

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    These days I think the safest money is just in driving a company truck for a really good carrier or a private fleet. Fixing up a boneyard girl is a tough way to go trucking unless you just run local.

  • @lylezahrowski7925
    @lylezahrowski79252 жыл бұрын

    i know about the lease to lose program you are talking about. what do you know bout leasing a truck through a kenworth or peterbilt dealer. as you know that major carriers lease trucks for 2 or 3 years and rotate constantly. is that a good program to build a fleet or is it better to buy straight out?

  • @Tomatolover120
    @Tomatolover1203 жыл бұрын

    Pretty much every contract these days even for purchases and loans has an arbitration or waiver of jury trial clause though.

  • @dwightmcqueen5771
    @dwightmcqueen57713 жыл бұрын

    I was thinking about it because there just isn't enough money being a company driver

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    Just need a better company. Lease operators don't make more, they make less and are just robbing the truck fund for extra money. That comes back to haunt them when they need to do repairs or pay taxes. I refer you to the court case of Olivieri vs Prime. That case alone should convince anyone not to ever do a lease purchase with a carrier.

  • @selteacher
    @selteacher3 жыл бұрын

    If you buy a truck from a bank, they will still want their payments. It is no different than the lease contract. There won't be any "forgiveness" in a bank loan, you pay or they take you truck There is nothing unconstitutional with waiving your right to a jury trial in a civil matter. The 6th amendment protects you from the government, not from a commercial entity.

  • @dondidykes6664
    @dondidykes66644 жыл бұрын

    And always have it looked over by your attorney

  • @williamholland9171
    @williamholland91712 жыл бұрын

    I have a question if you have a lease purchase agreement with the trucking company and it’s a walk away lease I’m reviewing my lease I can’t find anything in there about when another company buys your company and where that leaves your lease are they going to try and make me sign a new lease because my lease has a dollar buyout at the end the new company has a $30,000 buyout at the end of their leases

  • @cornbread1209
    @cornbread12094 жыл бұрын

    Careful advertising for GC Transco as they are starting to get some bad reviews from drivers on Google reviews.

  • @salmanparacha1522
    @salmanparacha15224 жыл бұрын

    I don’t get when there is so much information already out there why anyone would ever wanna lease a truck, I m sure people get this authoritative feeling when they lease or something, cuz the numbers just don’t add up no matter how u look at it..

  • @egyptianstylez
    @egyptianstylez2 жыл бұрын

    What about leasing on but having your own truck and trailer? Is that the same thing should we avoid that or is that a different story?

  • @thomaskirkpatrick4031
    @thomaskirkpatrick40313 жыл бұрын

    Isn't that first clause pretty much standard in a lease purchase?

  • @gafarmoumouni2130
    @gafarmoumouni21303 жыл бұрын

    I will be company driver save enough and buy my truck. Sound slowly buy surely"Smart Trucking "

  • @montecooper4663
    @montecooper46634 жыл бұрын

    Great advice brother! Really like the videos.keep it up. Trucker for Trump 2020. God bless America.

  • @DjGohanXx
    @DjGohanXx4 жыл бұрын

    Prime Inc ad played after the video ended... haha

  • @Hotecce1
    @Hotecce13 жыл бұрын

    its all well and good that these companys can screw over the little guy, but what gets me is that the dirty companies aren't thinking the big picture. Dirty company takes little guy to court for breach of contract. Little guy has NO money to his name, hence files for bankruptcy, NO ONE GETS A CENT. end of story..... which just proves the companies are only thinking short term.

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    Yup! And they wonder why they can't find people to work for them.

  • @elxion1
    @elxion12 жыл бұрын

    I’m thinking of signing on with Select one because I want to get in being an O/O been driving for 5yrs OTR can someone tell me if they’re a good company or no?

  • @aviatortrucker6198
    @aviatortrucker61984 жыл бұрын

    When I leased with JCT they would not even let anyone including me read the contract before signing it. They told us if you don’t sign it then they will send you home. That there was nothing wrong with that lease and if you wanted to read it you can do so after it was signed. Needless to say after six months I saw that it was a rip off and I left the company no money out of pocket just lost revenue that could’ve been made as a company driver.

  • @STScott-qo4pw

    @STScott-qo4pw

    4 жыл бұрын

    similar was tried with me. I told the lease mgr and the yard mgr to take their effin hands off the papers. Put them in my pocket and invited them to take the papers away from me. my sister is a lawyer and she almost cried (relief) when i told her "no, i didn't sign it. I wanted your opinion." anyone that's tried steamrolling me gets told "go ahead". call their bluff. That said I would have dared mgmt to do it and then gone to a lawyer. lucky my sister is one and willing to take a look for me at things every so often.

  • @aviatortrucker6198

    @aviatortrucker6198

    4 жыл бұрын

    S. T. Scott There was no way out of it. I lived in California at the time and took a three day crack hound ride to Tulsa. I figured I would give it a try since it is a walkaway lease I had no intention any way of buying their piece of shit fleet spec truck. When they would not even let me have a factory installed manual fan switch for the radiator which were standard on the Peterbilt and the Freightliner, I had a Kenworth, they said they wanted the trucks to be specked all the same. It just so happened that batch of Kenworth did not have that option ordered but it was available. Even though I contested it would be paid for out of my maintenance fund they would not let me do it. The truck also ate DEF like a elephant eats peanut and said there was nothing wrong with it so I decided to walk away from the lease. I worked for a better company, through their lease; but not to own, which gave me a fuel network discounts and I made quite a bit more money. I had to become a company driver because I was unable to get a mortgage due to the fact of the way my schedule C was. I became a company driver for the next two years, realized how much money I’m not making doing over the road trucking and quit went local hauling fuel. Now I make six digits a year, home every night. I also have a five day on two days off schedule.

  • @jeremygriggs1333
    @jeremygriggs13334 жыл бұрын

    You can buy a good used truck less than a new pickup so I don't understand why people lease a truck.

  • @MikeBrown-ii3pt

    @MikeBrown-ii3pt

    4 жыл бұрын

    Many that go with the company lease/purchase programs don't have the credit to get a bank loan to buy a truck. The other problem is that they also don't have money set aside to fall back on WHEN (not if) they need it.

  • @dwightmcqueen5771
    @dwightmcqueen57713 жыл бұрын

    I do need to send you some information on a company in Illinois

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    Okay.

  • @BennysBenz
    @BennysBenz3 жыл бұрын

    This happend to a buddy of mine at CRST

  • @SmartTrucking

    @SmartTrucking

    3 жыл бұрын

    Happens to thousands of guys every year. It's a scam. Prime just lost a 28 million dollar case to a bunch of their lease operators.

  • @rogersideas772
    @rogersideas7724 жыл бұрын

    Looks like a Prime contract

  • @soldierofjudah9356
    @soldierofjudah93564 жыл бұрын

    What if i I lease a truck from my company instead of lease purchase ?

  • @kayo4921
    @kayo49214 жыл бұрын

    so should i be a Lease operator with prime or just work for them instead of pay 1,400 aweek?

  • @aviatortrucker6198
    @aviatortrucker61984 жыл бұрын

    It’s nice to let people know the ins and outs of the pitfalls of the trucking industry. Trucking contain some of the most ignorant stupid people who don’t listen. Most of them can’t hold a job working with other people because of the way they think and act. They will continue to lease and will continue to do whatever they think is right in their mind, even with experienced people who learned the hard way. They will burn and ruin their lives over it. Hopefully at least 25% will make a change in their decision to lease or even consider driving a truck in this day and age.

  • @timaldrich1823
    @timaldrich18233 жыл бұрын

    I used to drive trucks for a living for about five years. Before the first year was up, I realized that it was all about the driver getting screwed in every way possible by maggot trucking companies, dispatchers, and other pieces of scum like the D.O.T. . I wouldn't recommend truck driving to anyone. It's a losing game, and the loser is always the driver.

  • @juanflores2882
    @juanflores28824 жыл бұрын

    Thak You Sir! Do you think the company allows the applicant to get a copy of the contract to take it to his lawyer before sign it?

  • @teddekkerfan92

    @teddekkerfan92

    4 жыл бұрын

    I am guessing that the carrier is to to say no due to confidential information

  • @_LVC

    @_LVC

    4 жыл бұрын

    If they don't, run away

  • @banzaii6285
    @banzaii62854 жыл бұрын

    Unbelievable... that they agreed to that. You gotta read what you're signing, and if you don't understand it, pay a attorney to look at it. I get it, some people aspire to be a "owner operator". Save your $, put $ down, secure conventional financing. If you can't do that maybe you shouldn't do it. I would never lease something from the people that control my ability to pay for it. This business is hard enough under "Ideal circumstances", without throwing in major road blocks to struggle over. Those leases are like Vegas, they ain't set up for you to succeed. IMHO...

  • @NoWayOut55
    @NoWayOut554 жыл бұрын

    Copy on the Lease to Own Programs... If you're dumb enough to try, be prepared for a long drought in decent pay....and there will be a few. I've met plenty LTL Operators would spend up to almost a week in out of the way places. At any rate, good luck and shake 'er steady. Alway greatnto check in here and see the subject of the day...The Man's on it!

  • @NK-bc5xw
    @NK-bc5xw4 жыл бұрын

    Contracts are always like that. First clause is totally normal. Forgiveness? You are not dealing with mom and dad

  • @mikepertle3582
    @mikepertle35824 жыл бұрын

    This is why I hate new trucks. The company I work at now my 2020 Volvo has been in the shop 5 times already had 7 warranty things fixed and the whole fuel system replaced

  • @gallezzo6650
    @gallezzo66504 жыл бұрын

    Waivers of jury trials are illegal for transportation workers.

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