Semi Truck leasing question?

Question

My husband is a company driver now, and is considering leasing a truck. Nothing is out of pocket, all expenses will be taken out of his "per mile" pay.

Do you know of any pros and cons to leasing a semi??

Answer 1

When it comes to leasing or buying a truck, it has to be running 24/7 to really generate income.  And if you break down and repairs are needed... it is costing you money, and you are not earning.  

You really need to think twice in this day of high fuel prices if it is truly worth it.  What happens if there is a freight slow down ?  Or the company loses the contract ?  You are still liable and locked in on the purchase or lease of the vehicle.  Also, the duration of the lease/purchase contract is another thing to look at.  Are you really going to be running the same miles, and feeling the same way about the whole industry in another 3 or so years ???

Don't be fooled by the pitch-line 'that there will be no out-of-pocket expenses' uttered by the lessee.  There is always something that you're going to be paying for !

If he really wants to be an O/O, try looking at buying a good, used vehicle first.  Something well maintained, and at a fair price.  Otherwise, if I were him, I'd stick to being a company driver.  Especially these days.  

Answer 2

Make sure you really want this!  As long as  you are willing to run and make that payment and keep running until the truck is paid off its a good deal!  If you like lots of home time or your just happy with 2,000 miles a week or 4,000 if its team. Forget it!  You will find lots of tax breaks as an O/O and in the end you will have the truck paid off and thats where u will really make the money!

Answer 3

Google"truckers forum" for real advice from owner operators...leasing from the co. you drive for is not good advice..they will own you and your truck..by or lease from independent $ source .so you can drive for who ever you want.  go the site for lots of info. it is a very large site.