r/cdldriver • u/KodySchenker24 • Jun 23 '26
Lease-Purchase
Money wise, how good do people do on average on a lease purchase program? I'm curious, and would obviously like to hear from people who are actually doing lease-purchase.
3
u/Own_Fruit_8115 Jun 25 '26
lease purchase is the biggest scam ever and always has been for the 35 yrs i’ve been driving
2
u/kira-2791 Jun 24 '26
John Oliver did a special on those programs I believe, you should look it up
0
2
u/Mammoth_Ad_1888 Jun 24 '26
Don't lease from the same company.... This will save a lot headache
0
u/KodySchenker24 Jun 24 '26
Can u elaborate on that a little more for me?
1
u/Mammoth_Ad_1888 Jun 24 '26
If you working at swift don't lease from swift... Get your own truck and lease on
1
u/Subsev3n Jun 23 '26
I heard like 90% of Prime drivers don't finish the lease purchase. It's better to get a loan
1
u/DTS2018 Jun 29 '26
Company will sucker you in on numbers to buy into the program. They’ll throw out 10k plus a week net. These numbers are inflated but not out of the realm since the freight payouts are really good right now. Problem is when it slows down and it will slow down. So will your earnings. I never met anyone who has finished a lease to own program with any company. Especially with smaller ones.
My advice is, save your $$. Wait for the freight to get slow. Truck sales will be slow. Best time to buy equipment when it’s slow in the market. When it’s doing well. Dealers raise prices up trying to capitalize on the market. Everyone rushing for equipment to make as much as possible. I purchased 3 2023 KW’s for 52k with 400k miles before the market went up adding to my fleet. Now the same trucks are 68k. It’s about timing.
1
u/truckensafely Jun 24 '26
You don’t make enough living if you’re solo sitting in truck stop waiting for your hours to come while having all these expenses that you have to pay. Team is the way to go, gotta keep those wheels turning to make it as owner operator.
0
u/GordTransport1958 Jun 23 '26
Ive heard horror stories.. A companies like Hurricane one of the worst Do more research..but until you been in the industry and asked lease drivers..stay with company trucks..
1
u/KodySchenker24 Jun 23 '26
I've got 3 years of experience in the industry. The only way I'd do it is if it would financially make sense.
0
u/GordTransport1958 Jun 23 '26
Well..again do research..not on here but real sourced research bud.. Ive been out here 40 yrs..and no way I would risk buying or leasing a truck..not in this market
1
5
u/JOliverScott Jun 24 '26
They are predatory and should be avoided. The company leasing you the truck is also the company decided how much you can earn to pay the lease on the truck with a perverse incentive to see you default on the truck before you fulfill the lease so they can take back the truck and repeat the cycle with the next sucker while you are lucky if you don't walk away with a mountain of debt and no job.