Purchasing programs from truck companies seem to offer tremendous benefits to truck drivers. New truckers, in particular, are targets. The offer of a driver being able to own his or her on truck often with zero entry and no credit check can be extremely tempting for many drivers. No doubt some drivers benefit from these programs. However, many others were ruined both financially and professionally.
A typical lease return trucks purchase agreement through a trucking company requires you to work exclusively for them. Consequently, if the transportation company does not want you to own the truck, simply reduce the number of loads they offer. You cannot pick up the truck and go to a different truck company. If your budget was based on you having a certain number of charges per week and you do not get them, you can quickly find yourself with the funds needed to make the payments.
Another consideration is the quality of the truck
If you are buying a new truck, the truck must be in good mechanical condition and under warranty. If you are buying a used truck that may not be the case. You may have to pay thousands of dollars for repairs before even driving the truck.
Img source: truckingcompanies.org
Some truck companies do not allow you to select your truck
Once they talked about the deal, they say that it’s your truck. You may not even be able to see the truck before signing the contract. This can happen even if the truck is located in the terminal where you are.
What may happen is that once you sign the contract, you can be directed to the location of the truck that may be in your lot. Imagine, you locate the truck and find that it is neither airship. You inform the carrier representative assuming that you will make the necessary repairs. Instead, you are informed that it is your truck now and you are responsible for all repairs. To avoid situations like this, you can visit Auto’s Need and level up your knowledge
Your truck may be located in a different state
Typically, the trucking company will give you a bus ticket to allow you to get to the truck location. You may be in for a surprise to get to the place and find out that the truck is not even drivable. Again, you will be informed that the truck is yours and any repairs required are at your own risk. You can discuss as much as you want, but it will be useless. Consequently, if you do not have funds available for repairs, you are certainly starting badly.
Img source: jeffmillerlaw.com
This is a typical situation where many drivers meet. They soon find that the purchase and rental agreement put them into worse financial conditions than they initially did.
I suggest that if you want to make a lease return trucks purchase program, do it through a bank or financial company. That way, you will not be dependent on a trucking company to give you enough miles to succeed. You will be in control of your own success. You can drive as an independent driver or work with another company of your choice. Independent funding offers more options and chances of success.
