EXPLOITING Truck Drivers Through Lease Purchase Programs | FMCSA Cracking Down on it!
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- Опубликовано: 10 июн 2024
- FMCSA is Targeting Predatory Lease Purchase Agreements!!!
In this video, Ronen dives into the disturbing truth about lease purchase agreements in the trucking industry that we guarantee will shock you. We examine a recent article from FreightWaves about the FMCSA's efforts to crack down on predatory lease purchase agreements, and we share two jaw-dropping examples of weekly pay statements from lease operators.
It's clear that these agreements only benefit trucking companies, while leaving drivers at a significant disadvantage. We even give the "Never Never Lease Plan" its well-deserved name. Don't miss this must-watch video if you're considering a lease purchase agreement or want to learn more about this troubling issue.
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#LeasePurchase #Trucking #TruckDriver
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Chapters:
00:00 Introduction
00:45 FMCSA names panel targeting predatory lease-purchase agreements
01:45 1,600 - 1,700 miles per week trucking
02:16 Statement from FMCSA
02:34 Negative sides to signing bad lease agreements
03:40 Comparing pay statements from truck drivers
04:07 Lease operator #1 pay statement
08:19 Lease operator #2 pay statement 
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My last check as a leaser was NEGATIVE $900,an that happened TWICE in one month…just started with a new company as a company driver an I’m back to my usual an expected 2k a week
Wait what??? 2k on 1099 or 2k on w-2?
@@hotshot4697 who cares what your opinion is chump…lease purchase is a “companies” game unfortunately a lot of companies is using as leverage during this declining market..I wasn’t even getting rate cons with that company!
Big boy? U right cuz u sound like a big “boy” 🤣 🤡
@@stilliraise9201 1099
Glad you got out of that!! Stay safe!
Sounds a LOT like Super Ego….88/12, already in a class action lawsuit for skimming off rate cons
Definitely super leggo my ego
Yes. And RAKMARK
💯 Super Ego. The nightmare of trucking
Rakmark
Pam
Select one
Super Ego
Maybach and much more this company are sooo scams
I have no sympathy for the drivers that got scammed over there. 99% of them probably signed up so they could drive over there hours of service
Thank you Sir for helping those drivers who are being taken advantage of. Keep up the good work & God Bless you your family & company.
Sincerely,
Tony Gil
Thank you for the kind words Tony!
this is exactly why the industry is failing... too much corruption. Thanks for keeping us aware about this exploitation.
I appreciate your efforts to keep us informed on how the industry is going. I've considered O/O for awhile but I don't trust these companies out here for this exact reason your showing in the video
Before they discontinued their purchase program, Werner enterprises had probably the best program out there where the drivers were not taking advantage of... I purchased a 2008 cascadia that I had been in since day one of its release on the road so when I bought it after 4 years there were no attempts to take advantage of me, I had the truck paid off in less than 3 years and was making money the whole time... What help to pay it off so fast was they withheld an additional $0.06 per dispatched mile So I think it was paid off in just over 2 and 1/2 years... And after that it was 100% mine... But they discontinued that purchase program sometime prior to 2019 why I don't know but every driver that bought a truck through their program was treated the same with respect as a professional... And I did hear of some companies that had some somewhat shady offers like that so I always recommended to stay the hell away from a lease...
Now as far as their least purchase program, you least the truck for four or so years and then you turned it back into them and I told the drivers you do not ever want to leave a vehicle like that because you make no profit out of it and you are responsible for all the maintenance payments so it's a lose lose situation for you if you cannot outright buy the truck Then just stay the hell away from it
Sounds like all truck companies in the Chicago Metro.
It is great that you are showing on paper the ugly side. Thank you.
Thanks for watching!
I love your videos. I came to MK Trucking today on Monday. Was let down.
The trucks they had where trashed inside. Shelves missing torn off. Bad shape inside.
But managed find a decent truck low miles. And after 3 hour orientation.
Sign paperwork watched few videos they where trying push us out the yard
And haven't even got our stuff in the damn truck. Most of the trucks n trailers needed repairs.
Really chewed up tires and lights not working abs light still on.
So I asked my new dispatcher. For a advance since getting a load.
While waiting at a Loves for repairs cause there old mechanic quit few days ago. And new mechanic. Couldn't catch up.
Came here in Satsuma AL Loves get work done. He's still trying get me get this load from Calvert
I asked him. For a $200 advance. I was told in a cold way. You have no equity with us yet
I needed some money for food. I have little money in my pocket.
Not on the first week. I'm might quit tomorrow and there out advance money.
I'm just trying get money to eat. He didn't care one bit.
And at home was told everything would be fine don't worry. Blah blah.
Schneider.
A lot if those Chicago trucking companies got that 1099 game going.
South Florida as well
You’re right, I was a victim of that too from a company based in Chicago.
Thanks for sharing!
@@NorthAmerican-Trucking-News those companies dispatch from overseas somewhere?
I tell all trucker the company 0 lease/“owner” for semi-truck is a SCAMS! The driver paid semi-truck hundred $$$$ lease/monthly, driver paid thousands $$$$ insurance, and YOU paid all maintenance/repairs/accident for thousands $$$$$$$. Great video.😊
Thanks for sharing and thanks for watching!
Cargo runner co , out of Chicago, they did me that same way. I ran with them for four weeks renting their truck, and made no money. You have no freedom bc in order for you to make any kind of money you would have to gross at least 5k a week and if you took anytime off then you’d be behind on that weekly payment.
Cargo Runner is one of the WORST CHICAGO COMPANIES !
ALEX IS A CROOK AND HE'S PROUD OF IT !
Im wondering if Prime Inc. is changing its ways. They lost millions in court for committing financial sodomy on one of their lease to own drivers. The judge even told the owner Robert Low that he cant take his expenses out of his drivers' checks. That cockroach owns 25 thoroughbred race horses while his drivers go hungry! Unbelievable!
Lmao 🤣
Financial sodomy
🤪😜😝
Sodomy
Wow these companies should be charged
Agreed
I used to be THE on-call 24/7 road side tire repair guy.(in the late 1980s) for a transport company that I actually did a cost/benefit analysis and sold the owners on my services. I also made alot of friends who were OTR Owner/Operators working for the transport company I worked for as a contractor.
Knowing the business back in the 1980s. I would never advise a driver to do a lease/purchase...not in today hostile business environment where they will take you money...even if you try to quit
The best way is to pay cash for a truck and have cash left over for repairs. The less leverage a company have over you, the better. If a company have the power to starve you out, they can do that to get you to do what they want you to do without telling you to do it.
That’s what I keep telling people. They get into these bs lease programs and when they get bent over, they wanna start telling everyone that trucking sucks. I always say “it’s a whole different experience if you actually have YOUR OWN truck. Because you will have more of a say-so and you can tell the company to frick off if you don’t like them”.
@@miguelrobb5719 exactly! Even company drivers are treated the same way. That’s why some put accidents on their record when something really small happens. It benefits them and makes it harder to leave. Company drivers with a lot of bills and no savings are definitely also vulnerable.
Pay cash for a truck lololololololololol If people had that kind of money they wouldn't be truck drivers
Were suing the last 2 companies!
I have been in this bad lease program. But I am driving back to Illinois to return this truck an trailer back. This was the third truck that I have been. Shins 02/06/23
Most of them are taking the fuel surcharge as well as skimming off the percentage rate! 😢
If you’re running spot market fuel surcharge is billed into line haul. The bigger part is when they get fuel discounts but charge you back the difference
Not cool!!!
Thank you for caring Ronen
Thank you! For exposing this egregious exploitation. Thank you! And this exploitation permeates the trucking industry at various levels. Some are just more brazen than others. When I point this out, I am scolded, "Don't put your bad experiences onto other hopefuls!"
A DRIVER+LOAD,..are like mining ore. You extract everything of value from it, leaving as little as possible behind.
Thanks for the update
That is ridiculous. I am not a trucker just learning how to repair semi trucks 🚛 but, these trucker’s are getting ripped off with these walk away leases. 🙂
But you can walk away whenever you want till you make descent kind of money
They sure are, it's cruel!
In my opinion a lease purchase is the same con job that land owners did to farmers. Back tben it was called share cropping.
Thanks for sharing!
I think Status Transportation is a great company for owner operators,,,, they are better than a lot of those big name companies
😂😂😂. VL Trucking looks like their statements. Worked for them for 2 years. They were double brokering my loads and put me into 25k worth of debt for fuel. Then when I had a sit down with them they were happy to screw me over. I left there supposedly "owing them" $19,000 for "repairs". I averaged about $290-$600 week and that's with me and a relative I put through trucking school. These people should be imprisoned. They are snake oil salesmen.
Some people are just not very smart
Thanks Ronin!
Any time!
Thanks Ronen for exposing these fleece deals... Been at this 36 yrs owner op and have paid off equipment i own... We have way too many trucks in the market place right now driving down freight rates for all us in the industry.. These predatory lease companies are a huge problem in the industry keeping rates low.... also we have way too many people with a dream of owning a truck signing up for these kind of lease agreements without having any idea how to run a business and some basic math skills would soon prove these kind of deals are a scam... even with paid off equipment I would not have ran any of the loads that driver done in 2 weeks settlement
Better to be at home than run cheap freight
It may sound harsh, but we need a huge decrease in available trucks in the US right now to rectify the low rates. The sooner a lot of these companies and lease ops who don't know what their cost of operation go broke hauling cheap freight , the better for all of us who know how to run an efficient business over the years and can survive the bad times as well as the good.
4.33 weeks in a month. 52÷12=4.33333. Crazy how these drivers fall for these scams we need a trucker help hotline so they can call and ask
Going through this right now, went home to unpack my truck and I’m in the process of being routed in to turn this in.
Went through the same thing 2 months ago
@@hershey4640 what company?
Company called southeastern in Atlanta
@@hershey4640 damn, we all going through it. I just left bay and bay. I’m at the airport now
Damn, it’s messed up out here bro but keep your head up!
Drove 3k miles for a leasing company called TPA Cargo. Once I saw my check was only $700 after all of the expenses I saw on my settlement, i decided I’m going to turn my truck in, and I’ve leaned my lesson to never fall for these lease garbage scams.
Super Ego!!!! Jail them!!!
Wait until he found out about the lease companies with ads saying “ flexible log book “ super ego get loads off load board for 3000 tell driver it’s paying 2200 then take the 20% off that 😂😂😂
Flexible Log Book... That's a new one... I have to see one of those ads!!
88% and netting a buck? No wonder they offer good bourbon...the drivers will need it.
Bro, I drove bix truck and make $75k to $80k a year plus full benefits and 6 weeks vacation paid.. as a company driver. I got scanned so bad as an owner operator to. That's how I went to the company driver. After the lease end, you still need to purchase the truck
The only one to blame is the driver. They want to flex saying that they are owner operators when In reality they broke. Stay company driver and actually make money stress free
It's worse than this. By a lot.
Very insightful. I am interested in the programme
GOD BLESS THIS MAN
Haha thank you!!
Hey how do we go about applying for your lease operator positions in the United States? Please and thank you , your videos have helped me a lot over this past year !! Keep it up ET
I worked here with this ridiculous Stu... company that
Charge me like that , lot of driver when they are almost finished pay the truck they start lower the miles weekly and say is no load that way they have to pay all the Spencer from the own money plus $2000 deposit they never return, plus $0.15 maintenance for miles you drove that week
So you get a Statement of $8000 because they included evrething there that way they don't pay Taxes
And you only get $900 from that amount so pretty much we pay for all taxes and Equipments of that companies they are thieves , I wish 🤞 they pay for everything they did to all my friends also to myself increíble
Super Ego. Biggest crooks in the history of Trucking
Predatory mechanics goes without saying. How stranded can a driver be? I'd suggest getting his permission to look into that more.
That first statement is definitely Super Ego all day
Own your own truck drivers. Credit score of 680 will get your bank to purchase the truck you want for you under EQUIPMENT LOAN. Your bank will be the lien holder on the title but the truck is yours and you can lease on with true owner operator companies or run under your own authority.
Can't run under your own authority unless you have an authority. You're saying buy a truck then run thru Landstar. All you have to do is say that lol.
I get what your saying i myself feel like lease purchase is a scam i turned down a lease purchase job because when i seen the settlements a driver was doin 4000 miles to make $2,500 u can do that as a company driver....you chose one of the worst drivers to compare tho...u need to drive atleast 3000 miles to see a decent check how can u lease a truck and think you goin to make money with only 2000 miles be honest with your self and your audience
Steer clear of LB Independent out of chicago. Complete scam. Stole a total of 6k from myself and 3 other drivers. we've all quit now.
Got that right if you wanna work for free Lease a truck through some company... You will also never get the title and if you ever do the truck will be worth nothing...
I'm responding here about the (what's going on in FL) video and the bankruptcies happening now and WILL continue to happen.
I've been in this industry for coming up on 25 years now.
I'm BRAND NEW as a husband/Wife team O/O and in my opinion the companies that will survive are the most efficient/lean/low overhead/low operating costs.
They are the ones who are able to pay their drivers the HIGHEST wages and take good care of them.
Gone are the days of loyalty.
The new breed of drivers DEMAND top pay and EVERYTHING after that is AFTER THAT.
My husband has had many negative settlements. The truck we are paying for is a lemon and costs my husband 1,000 a week and that doesn't include the insurance
How can you say your not here to bash but the whole reason why your doing what your doing is to expose these bastards………. So bash and expose them! We support you. If we don’t know who they are then how do you help protect future leasee’s?
Getting 2,500-2900 k gross weekly, that's crazy, not the final paycheck.The issue of the trucking company is that they hire bad dispatchers who can not get at least 5-7K weekly on a gross for their drivers. If the dispatcher would book at least 5 K weekly, the pay check will be completely different and the lease purchase program looks much better. Everything depend on the weekly gross made and the working days a driver made. If a driver works usually 3 days weekly, this program is not for him definetly. Expenses will be to high to be covered by his gross. Also, before sign such contract with a trucking company, verify all the conditions, if their dispatchers are not able to generate you good gross, ask for the owner of the company to add in contract, "that you can have your own DISPATCH and you are not require to use their dispatcher". The big issue that driver are not aware of so many things. They have to find a good company, and impose their conditions as well.
I believe some of these trucking companies advertise in Eastern Europe, Somalia and excetera to get new drivers over. Please remember it is the driver's fault when they sign a lease agreement when they did not bother to take the time to read or understand the contract. Play devil's advocate if I were to say to move to the country of Georgia and wanted to sign a lease purchase agreement from a company in that country I would be very wary I do my due diligence and recheck it . A lot of these new drivers that have just coming over to the USB and even speak English yet.. that's a scary proposition when you can't read the signs. Once again looking at it through the other end, if I were to move to another country I would probably learn the language to at least an elementary school level before going to that country..
Same thing happened here in Canada I did 2400 miles in a week and owe the company 1.36
Hey can you guys drop some light on the pay system which is very bad in my opinion.
1)If a Canadian driver drives to USA how much he should get paid per mile for DryVan?
2)Also why Canadian trucking companies are counting the distances in MILES (USA measurement system) and paying company drivers in Canadian CENT$?
3)If there is any way to know which province pays how much per mile?
as I am from Alberta driving to USA every week and getting paid in Canadian Cent$
A lot of great questions here. We might put together a video regarding your comment!
Leased once before with Celadon. Did all right until someone backed into the truck.
Been driving for ten years and I want my own truck. I want a Cabover though and they don't make them anymore.
Celedon stiffed us
for 4000.00 put us out on street. We sued em. Got 900.00 after 6 years!
I’m currently in a lease purchase 18-kw T680 $675 a week for 4yrs
Additionally, a dollar 44 for dry loads pretty much standard here in the US now on loadboard loads which I believe the example is using... Once again drivers need to use their due diligence subscribe to a load board for a couple of months to see what the going rates are. Volvo mafia-type Chicago gangsters use load boards almost exclusively and have very little contract freight.. another example that drivers need to research what company they sign up with.
Guys! You have to take em to court small claims court. Or higher. Sue these companies!!!! File with your county. They give you court date. Have your day in court w judge.
You'll win!!!! Smile 💰
#scam
😢
Thanks for sharing Jenny!
1650 and 2100 miles a week...what are the drivers doing, sight-seeing?? 2k miles covers expenses. That extra 1,000 miles they're not driving is missed opportunity. They're not running enough miles to be profitable.
All companies are doing it, it should be like cali started where all lease has to get their own authority period, unless its sign in contract where they can book loads on their own if there is no good paying loans
I agree this whole exclusivity stuff is nonsense
Will ET Transport open an office in Salem, Oregon? If so I know of a perfect place. It was a junkyard with an office an shop.
Try $2600 a week for truck/trlr/ insurances/escrow no original rate cons etc. The best you can do is about 2200 after all expenses welcome to my place of employment. Thankfully I'm a company driver so i stick to my short run that gives me around 1200 a week take home equaling .58 cpm net earning.
Hopefully, things start looking up for you
Switched from lease to 30% because I was almost working fo free
I paid off a l/p with a Chicago carrier. I had r/c sent to me though, and I wouldn’t recommend it right now. Had a screenshot sent to me from a guy in Serbia that dispatched for a notorious Chicago company and they skimmed 25-30% of top plus the 88/12 split. I think another red flag is when they don’t offer fuel discounts. More than likely they’re charging back the discount, and these drivers don’t understand they can use their own fuel card. I think the biggest thing that attracts these guys is when a company edits their logs for them allowing them to drive more miles, and they go for it thinking they’re going to hustle the hustle but they’re the ones being hustled
Are you guys hiring out of Orlando ?
I did not see no fuel surcharge or detention pay which would help on the pay
I have really bad credit no deposit really want to own my truck so can you help me ? Give me some advice? 8 years total regional driving experience. Hazmat,tanker, what shpuld I do in 2023 ? Should I lease on and own my truck in a year or just over ??
NO LOADS THEY TREAT ME LIKE SHT
This is charging me rental of truck an trailer. An mileage charge on truck. Also they take out their 18 percent out of my gross. An not pay for fuel or tolls. So they are making a hundred percent profit. With their 18 percent!
They will rip you off through maintenence account as well. And they make 100k+ on used truck. They need to set aside an amount for you that you get to keep it you finish contract,. That would be a proper lease, and not steal maintenence account.
It’s a scam USA truck called me Thursday about a lease they said the truck was ready to go now only have two left ready to go KW’s 460k miles $950a week I told them I’m going have to look over everythang again the mileage pay everythang they said cool after getting off the phone they called me repeatedly like 7-8 times trying to rush me to get it talking bout it’s one in my area not even a long drive to come get it after that, I blocked them shortly after I’m good 😂😂😂
My man i got my truck I own the trailer and no accidents . Dude my imsurance is crazy and fuel and loads. We had a 2 trucks i got out of the business.
Yep
Driving those miles as a lease operator is absolutely pointless. He should be a company driver. In this market you have to drive miles to make it. If you don’t want to drive stay a company driver. Now I’m not saying all lease agreements are good but when I see statements like that all I can think of is retire or go be a company driver. 2k miles what a joke. If you don’t want to drive don’t be a truck driver
Yep, 1781 paid miles last week, $269 settlement.
Welfare express is actually truthful
U forget empty miles, it’s very important. Sometimes driver driver over 150 miles to pick up
I think it is better a walk away lease since you have the option to finish with truck lease whenever you want
Is it a good idea to put 1500 down a brand new truck with your own load board with a 36 month term with a ballon payment at the end
Are y’all hiring in the USA? What is y’all’s hiring criteria?
Maaannnn. This driver doesn’t know what he is doing. That’s the main problem here. He doesn’t know his own cost per mile which contributes to his issue. If he doesn’t know his cost for mile or even know how to calculate what the load pays per mile then he will never make money. Running less than 2,000 miles a week? Not even as a company driver they would survive. I mean I’m not justifying the bad contracts cause they can be bad especially in this market but damn.
AAA Freight inc. treating like a slave. Slow as f. For everything
Your missing one part of this you should cover! High rate vs low rates!
Under a lease! Can’t survive in a bad economy!
That's definitely important! We'll consider it in our future videos!
That is a super ego payment breakdown. I know because I get one myself. I'm looking into moving on from this bullshit.
How would I go about reaching out to your company once you've opened up shop in Georgia?
Bro I’m about to get in to the SuperEgo lease purchase, this shit looks bad . You still with them ? I’m you Pay was very bad every week ?
@@hugo-b88 Man, don't do it. I'm running ragged.
I haven't been out of the truck in 3 months but between the garbage brokers they work with and the cost of fuel I haven't seen a paycheck in three weeks. I'm lucky if I get $1.80 a mile. Which I guess wouldn't be that bad if I didn't have a $700 truck payment $300 trailer payment $300 insurance payment every single week.
The only reason I'm still here is because everyone wants a minimum of a year of experience and some want two years. Well thats all well and fine but how the fuck am I suppose to get the experience if y'all won't hire me? (Thanks insurance companies)
So I'm stuck with this shit job for another month. Then I'm outta here.
@@Couldnt_let_J.Marston_dieThere’s some companies that’ll take you with less than a year. JB hunt hired drivers with only 3 months exp. And pay 80k a year average, local & sometimes regional
Why do drivers continually sign up for these ???
Because of the title of being a O/o. They want to be a "Business Owner", but have 0 clue how to run a business
@@FaZeredemption3 I have noticed the same exact thing.
@dino moose I agree 100 %
Seems to be for the title. It needs to stop!
How do we apply for your company
Most companies that offer low percentage your getting robbed. One way or another. I have a good friend that has over 200 trucks leased out to different companies. Before they started the leasing company he had axes to 20000 company and own operators. He looks for companies were his clients can make money. His payments is high but you get a new truck with full warranty for 48 months that's bumper to bumper. It's not a walk away lease. .
Super Ego 😂
I work for e.t. transport if I am a US citizen born and raised?
How do I get hired?
How can I get on bossman
Ok but are these people actually us citizens or are these the pop up companies out of Chicago who hire the guys who can’t communicate in English?
I would like to send you a few of my settlements.
You know very well that $1.24 from NJ to Chicago area is higher then it usually is. Chicago carriers will take $0.90 per mile to get back to CHICAGO.
Another point is what’s up with that fuel? Is the driver not watching his fueling.
Based on your previous videos you said that new trucks get good fuel mileage so why is this one so high?
Bottom line is most drivers want to be business owners with a mentality of a company driver.
These companies offer Lease options because you can’t find a driver any other way.
Bottom line these drivers aren’t running, either being too picky or simply not caring. Or it could be a crap dispatcher.
Regardless market is bad.
This guys videos have went to junk. Just a bunch of sponsorships that contradict his own videos.
Side note. Most go the lease route to avoid child support.
My Punjabi friend has 3 newer trucks but he is always broke $.
It's 4.33 weeks per month 52/12=4.33
Thanks for pointing that out!
Actually, not bad price for rent equipment. In my company, truck - 1000$, trailer 300$, insurance 400$, + small fee 100-200$, thats per week.
How do you get insurance 400? I’m PAYING 1600 each and I have 8!
@@diegoperalta96 400$ for load + bobtail, and trailer damage inshur.
1600$ per week? No way.
Ronen woke up and chose violence
Ronen never chooses violence!! Just here to spread awareness!!
Who forced the drivers to sign the contract?
Literally no one. Just ads or companies giving them false hope.
Are you guys hiring drivers in the states without experience?
We require our drivers to have 2 years experience minimum.
I’m sorry, but this is just stupid and crazy to not plan and forecast your pay check. Although the fees that driver is paying is crazy, but It’s more that they are taking more off the top.