I think if ppl stay positive and aware of experiences of owning a business (Lp) it can work ik a few ppl that completed it and have drivers. Just read the contract to add have other income
@@joshuawalker6312 Right. And, we don't know how much effort each person puts into it, how dedicated they are, or how they reach out in different ways to add to their knowledge. I have a friend who paid cash for an older truck. He's replaced everything on it, maybe even the motor. His wife makes good money at her job. He would be ruined without that 2nd income.
I agree with you somewhere on a lease purchase I used to work with the company you're with right now a couple years ago I won't go back with them because they have terrible practices my personal opinion buy FMCSA is investigating all these lease purchase trucking companies because a lot of them are scams that's why they made a task force with FMCSA to investigate these companies look it up a lot of these companies screw over drivers just to make a dollar just be careful with that company I've talked to a lot of drivers so far and they're not liking it over there anymore so be safe
@user-sn1eo9eh9s Yes, I saw Alex Mai (the Mutha Trucker) saying that the FMCSA was asking for everyone's lease contracts, months ago. You k ow they're all bad when not one single company will show you the contract until you're at the end of orientation & it's time to sign. But my point is, you don't have to rip people off. Building a LP company while treating leasees right IS possible. As for Bay & Bay, I will give them this: they let leasee's choose to either be paid my the mile or paid by percentage.
THE CARRIER owns the truck, DRIVER operates the truck. Owner Operator. and don't think the carrier won't nickle and dime you to death for repairs that they will never do once you turn the truck in!!!
@lonewolf5316 For sure. But, for owners who put their trucks out on LP's, that's not what it takes to make a profit. I belive both parties can experience success, without one having to ripp off the other.
Lease purchase is the most predatory practice in our industry. If you can't get the startup capital for business please don't get into it. Owning a buisness isn't for everybody. Love ya dg. ❤️
@@ikeho1790 I've heard that said, but there are tons of O/O's who have small fleets now because of LP. I think dreams & goals are important & I believe where there's a will, there's a way. 🙂✌️❤️
The problem with starting a fleet within someone's company is that it is very hard to get your trucks out and go on your own authority if anything ever happens. Fmcsa won't let you start an authority with multiple trucks so they better be all paid off of you want to leave and go out on your own. I was an o/o for five years with my own authority and it's paid for my house and cars. It can be done if you do it right! 😀
@ikeho1790 Are you saying that in order to get your own authority when you own multiple trucks, you woukd have to register one & simply move the others?
I'm saying the first year you have an authority you can only have one truck. The second year you can add another. The third year you can add another. They won't let you add or move 10 trucks in one year and you can't have a bunch of authorities. ( I'm making up numbers) It's to stop people from opening up authorities, get a bunch of violations and simply opening up another authority and moving everything over to get a clean skate. Which is why super ego has so many different names. There was a youtuber that had 14 trucks inside a company and when trucking got bad he tried to get his own authority and got stuck and had to eventually shut down. It was kind of sad. 😞
@ikeho1790 I see what you're saying. Since this video is about starting out via LP, someone could get 1 truck registered the first year but still be leasing 3 trucks. 2nd year, 2nd truck. 3rd year, 3rd truck & by then they might all 3 be paid for. Trade 2 in for 1 new one. Owner stops driving & the 1 truck runs anywhere. Or at end of year 3, trade in 3 paid for trucks for down payment on 4 brand new trucks.
@maxxhammer664 There aren't any right now. My friend did just start leasing with Artur. It's a lease, never purchase. If you don't like their loads you can pick off the load board. When you take a week off, you have no truck lease payments, no insurance payments- everything stops. They lease Ryder trucks. Full warranty. They don't take anything out for tires or maintenance. Just saying, there are so many ways to start a fleet. With freight being so bad, it's a good time to get your ducks in a row so you can be ready when things pick up. Artur's model is appealing to.people who think that since they're going to be out here, anyway, their food & supplies might as well be tax deductible.
It’s not for everybody , yes if you own the truck you can make more than when you lease but starting a business with just one truck is risky I have seen a lot of people going out of business when their one truck goes down. Lease purchase drivers make enough money to save and not have all the responsibility of the truck while saving for one or two trucks . But what works for you don’t work for other people
lease purchase puts all of the liability on the driver and not the carrier!!! why do you think that companies are doing lease purchase programs for profit they don't have to pay for anything for that truck the driver does!!! one break down could put you out!!! most companies won't let you take the truck where you want they have total control over the truck while your paying for it!!!! if you or anyone can't save money can't save money to buy a truck and or breakdowns god forbid then they need to be company drivers.
@@lonewolf5316 I see O/O's saying that sort of thing a lot. But it's like someone whose house is paid for telling everyone on the block that if they can't save enough money to pay for a house, they shouldn't have one, all while ignoring the fact that many people whose homes are paid off didn't even have funds for a down-payment & used a zero down product instead of putting down thousands of dollars.
The business plan. Get a bunch of poorly educated truck drivers. Tell them that the lease purchase is the greatest thing. Get them to sign on the dotted line. Then screw them silly. Don't worry about them telling other drivers. They are all stupid. No matter how bad the lease, we still get guys to sign up?
@@thomaskirkpatrick4031 That IS the typical business model. I tried to make the point that it doesn't have to be so slanted. The way you describe it seems like it could be applied to any tote-the-note car dealership. Sell beat up, low value cars to people who obviously can't manage their budget, and... etc., etc.
So what you're telling us, all these huge carriers are making lease purchases available out of the goodness of their hearts. They're doing us a favor? Really?
@@thomaskirkpatrick4031 No. I didn't say that at all. I disagree with that, so I would never say that. I said it is a pathway to ownership, because it is. I said that more O/O's should see offering LP as a smart way to grow their fleet.
“I can only tell you guys what I know” which is little to nothing. From the sounds of it. You don’t have a tricycle to show for all these years of leasing. Go buy a cash truck and get to work. Leasing makes zero sense in any realm of the business world.
@CoopDeville870 Or I could just go take the bar exam & become an attorney overnight, right? It's that easy to buy a truck & start hauling, too. Stupid me! Guess I'm just too lazy to do it your way- the easy way. 😄✌️
@CoopDeville870 I take it you didn't like my attempt at being lighthearted? For something that makes zero sense, a lot of savvy drivers have successfully purchased multiple trucks by going that route. I'm no fan of it myself, but I must admit, it works for some. The problem isn't leasing, in & of itself. The problem is *predatory* leasing. I strongly advocate leasing ones own truck out. It's an almost perfect business model. That's why the foreigners & megas do it.
I think if ppl stay positive and aware of experiences of owning a business (Lp) it can work ik a few ppl that completed it and have drivers. Just read the contract to add have other income
@@joshuawalker6312 Right. And, we don't know how much effort each person puts into it, how dedicated they are, or how they reach out in different ways to add to their knowledge. I have a friend who paid cash for an older truck. He's replaced everything on it, maybe even the motor. His wife makes good money at her job. He would be ruined without that 2nd income.
GREAT SHARE....THE ENERGY TREND IS REAL!!!!
@@victoriaedwards2762 Thank you! 🙂👍
You make really good points.
@@roncrowder5037 Thank you!
i bet the carriers make more money off lease purchase than freight!!!
@@lonewolf5316 You may be right. My carrier charged me $70/wk for my QualCom ELD.
They make money off your freight, your truck, your fuel, the maintenance. They reach into all your pockets
@@lonewolf5316 Me, too!
I agree with you somewhere on a lease purchase I used to work with the company you're with right now a couple years ago I won't go back with them because they have terrible practices my personal opinion buy FMCSA is investigating all these lease purchase trucking companies because a lot of them are scams that's why they made a task force with FMCSA to investigate these companies look it up a lot of these companies screw over drivers just to make a dollar just be careful with that company I've talked to a lot of drivers so far and they're not liking it over there anymore so be safe
@user-sn1eo9eh9s Yes, I saw Alex Mai (the Mutha Trucker) saying that the FMCSA was asking for everyone's lease contracts, months ago. You k ow they're all bad when not one single company will show you the contract until you're at the end of orientation & it's time to sign. But my point is, you don't have to rip people off. Building a LP company while treating leasees right IS possible. As for Bay & Bay, I will give them this: they let leasee's choose to either be paid my the mile or paid by percentage.
THE CARRIER owns the truck, DRIVER operates the truck. Owner Operator. and don't think the carrier won't nickle and dime you to death for repairs that they will never do once you turn the truck in!!!
@lonewolf5316 For sure. But, for owners who put their trucks out on LP's, that's not what it takes to make a profit. I belive both parties can experience success, without one having to ripp off the other.
Sounds good, get back to us when you have the title.
@jimmillard3513 LOL. I'm too old to wait it out.
Lease purchase is the most predatory practice in our industry. If you can't get the startup capital for business please don't get into it. Owning a buisness isn't for everybody. Love ya dg. ❤️
@@ikeho1790 I've heard that said, but there are tons of O/O's who have small fleets now because of LP. I think dreams & goals are important & I believe where there's a will, there's a way. 🙂✌️❤️
The problem with starting a fleet within someone's company is that it is very hard to get your trucks out and go on your own authority if anything ever happens.
Fmcsa won't let you start an authority with multiple trucks so they better be all paid off of you want to leave and go out on your own.
I was an o/o for five years with my own authority and it's paid for my house and cars. It can be done if you do it right! 😀
@ikeho1790 Are you saying that in order to get your own authority when you own multiple trucks, you woukd have to register one & simply move the others?
I'm saying the first year you have an authority you can only have one truck. The second year you can add another. The third year you can add another. They won't let you add or move 10 trucks in one year and you can't have a bunch of authorities. ( I'm making up numbers)
It's to stop people from opening up authorities, get a bunch of violations and simply opening up another authority and moving everything over to get a clean skate. Which is why super ego has so many different names.
There was a youtuber that had 14 trucks inside a company and when trucking got bad he tried to get his own authority and got stuck and had to eventually shut down. It was kind of sad. 😞
@ikeho1790 I see what you're saying. Since this video is about starting out via LP, someone could get 1 truck registered the first year but still be leasing 3 trucks. 2nd year, 2nd truck. 3rd year, 3rd truck & by then they might all 3 be paid for. Trade 2 in for 1 new one. Owner stops driving & the 1 truck runs anywhere. Or at end of year 3, trade in 3 paid for trucks for down payment on 4 brand new trucks.
Do it! This is America!
@roncrowder5037 When the market improves, though. Too much bad news these days.
I Love the intro 😄💯
@@JosephVictorAmoah Thanks! You know I try! 😆
Ma'am what is a good company besides prime the lease purchase is a good decision. Who would you recommend i don't like being a company driver.
@maxxhammer664 There aren't any right now. My friend did just start leasing with Artur. It's a lease, never purchase. If you don't like their loads you can pick off the load board. When you take a week off, you have no truck lease payments, no insurance payments- everything stops. They lease Ryder trucks. Full warranty. They don't take anything out for tires or maintenance. Just saying, there are so many ways to start a fleet. With freight being so bad, it's a good time to get your ducks in a row so you can be ready when things pick up. Artur's model is appealing to.people who think that since they're going to be out here, anyway, their food & supplies might as well be tax deductible.
When is a walk away lease purchase really walk away?
@@thomaskirkpatrick4031 True AND some carriers will even make up excuses to retain a company drivers' unissued payroll, too. Greed. It sucks.
This is a hot topic 🔥 I appreciate your videos but I have to disagree with your advice. Have a great day!
@@Mike_Greentea I'm fine with disagreement! 🙂
The Hostess with the Mostess! Hi Antoinette!!
@treyfeeley2519 Hi, Trey! Always good to hear from you!
Only smart trucking drivers know lease purchase is a scam. They are robbing you
wrong. Only ,orons who can't do taxes and math think its all a scam.
It’s not for everybody , yes if you own the truck you can make more than when you lease but starting a business with just one truck is risky I have seen a lot of people going out of business when their one truck goes down. Lease purchase drivers make enough money to save and not have all the responsibility of the truck while saving for one or two trucks . But what works for you don’t work for other people
😢
@@manco828 As with any business, you gotta know what you're doing. The School of Hard Knocks is particularly painful in the trucking industry.
lease purchase puts all of the liability on the driver and not the carrier!!! why do you think that companies are doing lease purchase programs for profit they don't have to pay for anything for that truck the driver does!!! one break down could put you out!!! most companies won't let you take the truck where you want they have total control over the truck while your paying for it!!!! if you or anyone can't save money can't save money to buy a truck and or breakdowns god forbid then they need to be company drivers.
@@lonewolf5316 I see O/O's saying that sort of thing a lot. But it's like someone whose house is paid for telling everyone on the block that if they can't save enough money to pay for a house, they shouldn't have one, all while ignoring the fact that many people whose homes are paid off didn't even have funds for a down-payment & used a zero down product instead of putting down thousands of dollars.
The business plan. Get a bunch of poorly educated truck drivers. Tell them that the lease purchase is the greatest thing. Get them to sign on the dotted line. Then screw them silly. Don't worry about them telling other drivers. They are all stupid. No matter how bad the lease, we still get guys to sign up?
@@thomaskirkpatrick4031 That IS the typical business model. I tried to make the point that it doesn't have to be so slanted. The way you describe it seems like it could be applied to any tote-the-note car dealership. Sell beat up, low value cars to people who obviously can't manage their budget, and... etc., etc.
So what you're telling us, all these huge carriers are making lease purchases available out of the goodness of their hearts. They're doing us a favor? Really?
@@thomaskirkpatrick4031 No. I didn't say that at all. I disagree with that, so I would never say that. I said it is a pathway to ownership, because it is. I said that more O/O's should see offering LP as a smart way to grow their fleet.
Wrong , about everything
@@jamiecarter59 LOL. Okay. Thanks for watching! 😀
“I can only tell you guys what I know” which is little to nothing. From the sounds of it. You don’t have a tricycle to show for all these years of leasing. Go buy a cash truck and get to work. Leasing makes zero sense in any realm of the business world.
@CoopDeville870 Or I could just go take the bar exam & become an attorney overnight, right? It's that easy to buy a truck & start hauling, too. Stupid me! Guess I'm just too lazy to do it your way- the easy way. 😄✌️
@ triggered much? No intent to upset anyone. Just expressing my freedom of speech under the video 😃
@CoopDeville870 I take it you didn't like my attempt at being lighthearted? For something that makes zero sense, a lot of savvy drivers have successfully purchased multiple trucks by going that route. I'm no fan of it myself, but I must admit, it works for some. The problem isn't leasing, in & of itself. The problem is *predatory* leasing. I strongly advocate leasing ones own truck out. It's an almost perfect business model. That's why the foreigners & megas do it.
Don't do it
@@nhc925 It's okay to disagree. 💙