Prime Inc Lease Purchase Returns!
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- Опубликовано: 8 авг 2022
- Save some cash and get ready to order a new truck #PrimeInc drivers... the lease purchase is coming back!
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Here's the old video about Prime Inc's lease purchase compared to secondary market pricing. • The truth about what y...
Also, here's an older video I did talking about payments, insurance and balloon $$$. • Payments, deposits, in... 
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There's a simple remedy for loosing trucks and drivers...quit hauling cheap freight 🤷♂️
You have no idea what you're talking about. The market decides the rates. Brokers will put test rates to see what they can get away with but if people don't bite they raise the rates. Every driver has to run their own numbers. You fail to realize what's cheap to you is excellent for another driver. You ask for the impossible. Would you say if everyone just carpooled we'd solve global warming? You can't give idiotic examples that have no basis in reality. How about you tell all the truck drivers in the world to not drive so they can protest high gas prices? Teach those oil monopolies a lesson right? You don't accept "cheap" freight but you pay for fuel though right? Or the fat margins made at the truck stops on showers and food right? You're trying to sound smart nut you don't realize how you already take it up the bum with so many other industries. But yeah let's just not accept "cheap" freight because that will solve low rates, not the market because the market is fake news right? Smh.
Or work for a company instead of dealing with brokers
Rob Low wants your money: the profit margin on lease purchase, repo- release is great for him not you……Fleece!
I'm seriously considering coming to Prime in the spring, Lease purchase is a major part of that decision. I'm totally ok with a 4yr.
Appreciate update
Have to ask though… assuming even at the previous rate of roughly 55k lease per year plus
Insurance maintenance reserve tires repairs tax etc.assuming you net 30-35 percent after all is said and done in the pocket …. The required miles … by the time the lease is done are you not left with a truck that’s really about at the end of its set I able life before frequent issues that are causing more frequent and more expensive repair and longer more frequent down time?
Previous program was a sone deal on three years even statin with prime under your own authority providing they keep feeding you freight
I have a question. I actually chose another company over Prime because they ended the lease purchase program. Do you have to work for prime to get a truck through success leasing? 2nd question, would you ever consider buying an off lease truck through a dealer in Springfield who sells them?
Thanks for the video. I went to lease at Decker because Prime did away with lease purchase, but now I’ll be back in contact with Prime once they start back up the lp.
Thanks for the info, Im a lease driver and just got into the new 2023 peterbilt, was debating if I wanted to do lease purchase or just finishing up the lease and use the incentive bonus to maybe put a down payment at a dealership and finance a truck. I want to start a small fleet also but I don’t know where to start besides owning trucks.
I’m ordering a lease purchase as soon as I can. Then once it’s paid off I’ll take it home and lease on with a regional company at pulling flatbed. Stay out 1-2 weeks and make more than I do OTR leasing
I am not an attorney, but I don't believe Prime will be legally allowed to prevent the truck from being taken out of their fleet once it has been paid off. I believe there are federal predatory leasing/lending laws that prohibit that. The seller (in this case Prime Inc./Success Leasing) can't force you to keep the vehicle in their fleet once you have the title. My guess is that Prime will require the longer lease term (4-5 years) on the lease purchases. They might try to tell lease purchasers they can't take it out of Prime once the truck is paid off, but only as a scare tactic to try to keep them from leaving with the truck. The wording will probably be written in some legalese that might make some people believe they can't take it out of the Prime fleet. That is one of the reasons people should have an attorney look at the lease purchase contract before signing it.
Thanks for the update Eric. This may add a profitable wrinkle in my plans.
Go for it!
Will you have to do a regular lease first
Is it back yet looking into possibly doing lease purchase
Your viewpoint on the lease vs lease purchase is 100% correct.
If I order a truck now, can I change it into a lease purchase? Would it be ok to order a lease purchase truck after doing a normal lease order? Do I just need to wait on ordering a new truck until lease purchase comes back?
I believe you need to wait
They can’t lock up the truck to prime with any lease that has a purchase allowance. It goes under the whole predatory loans thing where if someone wants to pay the vehicle off 3 months in they have to allow it.
I don’t see the shortage lasting much more than a year more tho. There is going to be a slowdown across the board coming
I saw somewhere Volvo lease purchase orders will open around June or July of next year. Didn’t pay much attention beyond seeing that.
What I want to lease purchase a peterbuilt
If they want to keep people longer they need to focus on why people are leaving once they are done with the lease. I'm sure a big one would be implementation of a load board. But they probably won't since they want to keep their contract freight moving and it probably is a cut rate compared to more general freight.
There is a load board on the site now
@@TruckingWithTee Where? The only thing i see is brokerage for outside carriers
They do have a load board. My trainer used to pick his own load.
@@datriontucker6474 If he was a lease operator they let you turn down loads. That isn't the same as access to a load board. You still get fed what dispatch or sales wants you to see.
@Urziel yes he was a lease operator and yes he had acess to a load board
Good info
It would be nice if lease purchase had more than the 3 truck models to order from. Maybe some 389s, 579s, t680s, volvos, mack anthems, freightliner, western stars with the large sleepers
I think they would if they could.
@@DriverLineup as far as the t680 and 579 they are the same parts, engines,trans, rear ends, but the t680s have better suspensions, dashes, and interiors. So as far as parts they could get them from the same place. But if you can't get certain trucks and you need trucks you have to look at options
The longer Success Leasing pauses the program the more pent up demand will be when the program opens
How many truck you have
Its about time!! I will definitely research the Lease to Purchase plan. It's the ONLY way I would lease anything...if I own it at the end. However, I am also looking at buying a truck outside of Prime then just running it under Prime's Authority. I have 2 trucks spec out. One I would finance $59k and the other I would finance $89k. Will wait n see what Prime has to offer.
They have pretty high requirements for trucks that are brought on. If it's not 2018 or newer according to their website they won't accept it.
@@Urziel99 yup. I'm looking at 2021s
My other thoughts
Previously
You lease required mon three months at rough 4 k mer month plus min 6 month wait time for new truck
Plus 14 k down
Now your 52 k into a truck and only 14 k counts on ownership of say roughly 200k truck
With all these smart phones and auto correct and you still type this bullshit 😂😂
Can you do a video on fleet truck profit breakdown
I wanna see that math 2
Didn't Prime already bring back lease purchase? It's on their website now.
Has always been on the website you just can’t actually order one as a lease purchase
Hello Eric. Does Prime take no experience drivers fresh from CDL school? Also, is there anyway I could have a direct contact with you? It’s a dream to work with prime. Thanks
Yes they do
It’s not as easy as one would think. If they do take you, it’s 40,000 miles with a trainer. In my opinion, they’d rather run you through their in-house school vs. taking Simone off the street with a. CDL and zero experience.
@@MythLeatherCo 30,000 with no experience I came in and didn't need a trainer as I already had experience and drove more states than they required
Yes u can come to Prime with a new CDL and no experience. However u get paid less per week for the first month ($800 vs $900). Also u do 40k miles instead of 30k miles. 9ne reason being is that in Primes CDL program u train on the equipment you will be driving. Coming from a CDL school you need to unlearn what you learned in CDL school and be taught Primes way with Primes technology.
Hi, I am inspiring fleet owner and wondering if I can connect with you to get some insight into financial /NOI aspects of things...
Is there anyway we can have a private conversation?
Thanks 😊!
Great !
Bout time right!?!
Do any of these drivers ever get to a point where they are no longer making payments to there employer ???
Never lease from a big company. Your a fool buy a truck from a dealership then you can lease on to a small company that you can trust. Or get your own authority.
I had a horrible experience with a lease purchase with CRST. I wouldn't mind doing a lease purchase with prime if they had regional position avalible.
They do
I want to run miles
Be 58 in Jan coming
No kids left at home no cdl yet but I used to haul around my own bulldozer ( d3) ran d10 a manual freight liner around the power plant 630 b earth movers so while I’m not an otr and would not claim to know anything about being a truck driver I’m not be to large equipment either.
Eager to be taught and learn
Fun miles and make money empty nester
I have over 25 years OTR. I tried a lease with a company Prime boughtout. I have bought n paid for 7 rigs on my own. I am a no nonsense man. I want to be successful in everything I attempt. My short fall is when catch dispatch being dishonest. I tend to leave. If a load is bad, or not as productive or has issues. This is info that all drivers should know, to make there choice. But when not givin and temps are pushed. Only one person suffers. This being said. I retired at 60. I am in Japan right now. Would you consider a driiver with my expierience and my honesty.?
You're a difficult person.
JDQ was here 😏💪🏼
JDQ in da house
Was told straight from success leasing a few days ago that the lease purchase won’t be coming back this year, 2022 for sure. The contract will be about the same as it was before. Again this was from a success leasing associate a few days ago.
I spoke to higher than that
@@DriverLineup May I have their position with success leasing so I can verify the information? I understand you don’t want to give their name but I would still like to verify this information for myself.
All the details are on Primes website now.
@@lancecarroll81 always have been
@@lancecarroll81 it doesn’t say anything about im when it’s coming back
Cudnt payme enuf to work there...been down that nightmare once .
Understood
Or am I missing something?
Currently with TMC but I’ve been interested in Prime for a long time. I wonder with higher payments and etc due to inflation will they raise the % to the truck
very much doubt they will increase the split
@@DriverLineup 💩👎🏼😂
@@412hwc very constructive comment there.
@@sandtanmaroon lol im jus talkn shit!
In theory the rate freight "should" increase with inflation. Making the spit change un nessary.
Lease is stupid . I rather buy the truck from bank. Atleast I don’t buy the truck twice.
#ooooooohyeah
they want 190k for truck i think
Whattttttttt!!!! 👀👀👀
Jus a simple hell yahhhhh
Isn't it Technically called, "LEASE TO PURCHASE " meaning you are leasing the truck for 3 to 4 years and at the end of your contract you have the option to BUY OUT the truck with a BALLOON payment?? I'm not sure why people use the term, "LEASE PURCHASE " is there even a difference?
The buyout is $100 yo! It's a good deal..no shade can be thrown on this no matter how negative someone is
I dunno. Don't really concern myself with that TBH.
@@nohippietruckingandtransportat the buyout is $100 is that why the weekly payments are $1200 a week? So by the time contract is up, buyout is less...
@@LONEWOLFTRUCKA it's paid off in 3 years. My 579 with all my extras was 167k. The total of payments is 181k. I'm a money guy. No way its a bad deal
@@nohippietruckingandtransportat sounds like it.
From what has been seen here I see a lot of trouble for Prime Inc. I do not believe they will legally hold a truck that has been paid off. I personally would consider this a scam if I paid off a truck but was not able to do as I felt was in the best interest of my company
But that’s not what I said re: lease purchase
It was a good program. Still running my 2016. Didn't want the auto shift. Never left Prime cause everyone else I know under there own DOT# are making the same $ or less.
Higher payments 4 longer. No longer worth it.
I don’t trust lease
The lights around the screen hurt my eyes. Lol. Not a fan of them
Sorry to hear that but they stay. My vibe is my vibe lol. Good seeing you in the comments man!
It’s ok. I mostly just listen w the screen off anyways. Lol
@@jimc8802 Hah I "watch" videos the same way.
Dude, no facts about the lease. At least wait until all the details are out.
Details been out for a while. Ordered another one. Where you been?
It’s not a great way to buy a truck these companies have it set up for failure and they have absolute control over your paycheques.your giving these fools false hope they are going to be successful.
Those lights bro??? Tooo much
My eyes!! lol
They can’t lock up the truck to prime with any lease that has a purchase allowance. It goes under the whole predatory loans thing where if someone wants to pay the vehicle off 3 months in they have to allow it.
I don’t see the shortage lasting much more than a year more tho. There is going to be a slowdown across the board coming
I saw somewhere Volvo lease purchase orders will open around June or July of next year. Didn’t pay much attention beyond seeing that.