Lease Purchase Programs: Are They Worth It?

[@stevesingleton3133]

You are the best Ronan. What I like about you is that you do your research before coming on air and you present your information in a very professional and easy to understand manner. Keep up the good work. I've been a truck driver for over 20 years and I learned a lot from you. Thx.

[@NorthAmerican-Trucking-News]

Thanks for watching!

[@rasjahson6261]

Everyone has their own preferences in a truck when it comes to comfort.

[@NorthAmerican-Trucking-News]

That is true

[@amoswilliams3409]

I'm probably in the minority. I purchased my first truck with mehh credit (mid 500s). My car was paid off, no mortgage and saved enough for a 40% down payment. Even with all the breakdowns, I grossed and netted more than a lease operator. I'm sure there are good lease programs out there, i just refuse to basically rent a truck and not own it after paying 100k+ for it. I love your videos and perspective.

[@jeffreycairns767]

I'm on a lease to own. Newer truck, low miles, and reasonably priced. I'll own the truck in 30 months

[@NorthAmerican-Trucking-News]

There are good programs, but oftentimes it's like a blind decision when you go into a program. You never really know with certainty that it's the right one. Some are obvious scams and this video is equally intended to help others spot them but your situation does sound like you were in a promising position!

[@BigDog-oi5ls]

I am currently have a 4 year lease! Have one year left! The truck was 208,000! I have 47,000 left! My buy out is 47,000 plus $4,500 for not completing the 4 year lease! I pay $1000 a week! I will never do another lease!

[@NorthAmerican-Trucking-News]

4 thousand a month is heinous

[@jeffreycairns767]

I just signed a 30 month lease. The truck is a '22 Peterbilt 579 with 178,000 miles. The cost is $120,000 plus 5% interest, which works out to just over $127,000. That works out to just over $4,300 month (plus HST). Sounds kinda expensive but in 30 months I'll own it with no buyout. Trucks in great shape, good engine and, from the drivers I've spoken to, it pays well. The drivers I spoke to, doing the same kind of work as me, are making $28-$30,000 month and average 8+ mpg. The company also offers fuel cards with a decent price, around $.20+ per litre. I'll be running out of where I want to be and running lanes I've wanted my whole career. I have no home responsibilities and will be living out of the truck. Hopefully it all works out

[@darylb5564]

I’m at a point in my life where I want to relax and enjoy myself. I’m miles away from wanting to tons of paperwork and worrying about what stuff costs. Here’s my advice … do with it what you will. Find a company that will pay you what you want for the amount of time you want to spend at work and work there. There are still good companies out there and they are hiring

[@MarciadaSilva-tg1sv]

Let's hope those companies are hiring LEGAL americans not illegals

[@NorthAmerican-Trucking-News]

That's the good life! We respect that

[@BigDog-oi5ls]

My over head is $2200 if I don’t move that truck! Plus fuel is $2000 a week! It insane what these companies do to the lease purchase drivers!

[@NorthAmerican-Trucking-News]

Woah! That's horrid

[@samozinn]

Walk away lease purchase is the key

[@NorthAmerican-Trucking-News]

Usually, those purchases are terrible

[@jaimemota4209]

Thanks for the very good information

[@kylemckee]

Thank you Ronen, very informative

[@NorthAmerican-Trucking-News]

Glad it was helpful!

[@carlossousa8123]

One more subscriber from Massachusetts Thanks for you information

[@jeffreycairns767]

The only thing that scares me about being a lease purchase operator is the fact that the company controls the miles and runs you get.

[@NorthAmerican-Trucking-News]

And some WILL use that to their advantage. That's why research is key. Word travels fast, and these companies can't hinder drivers who have experienced leasing from talking. You WILL know if a company's lease purchase program is trustworthy the second you ask

[@jeffreycairns767]

@@NorthAmerican-Trucking-News Although true, despite so many horrible reviews, Scotlynn Commodities is still getting sucker's to sign on all the time

[@Smithftrans876]

Lease purchase is the devil. I lease From SFI. I was paying 1300$ a week. I couldn’t even take a break. I return the truck and buy my own. 1350 a month payment on my 2022

[@jeffreycairns767]

$1,350 a month for a '22? Unless it has high miles, that's unheard of.

[@Smithftrans876]

@@jeffreycairns767 290k miles. Plus my credit is 780. I put 23k down. And I use my credit union bank for the lowest rate.

[@BigDog-oi5ls]

It’s a high risk! Lease is bad right now! These companies are over charging for these trucks! Your over head is too high!

[@NorthAmerican-Trucking-News]

Sorry to hear that :(

[@ivanmcastros]

You are wrong I git $0 down walk away lease. And it working perfect for me. Doing flatbed

[@NorthAmerican-Trucking-News]

Have you ever considered yourself a lucky exception?

[@jeffreycairns767]

What company?

[@mehmoodanwer974]

Good collection

[@NorthAmerican-Trucking-News]

Thank you

[@beyondartists7641]

09:00 what did i just hear 😂😂😂😂😂😂

[@NorthAmerican-Trucking-News]

BBL Drizzy

[@aaronturnbow3910]

What about Lone Mountain truck leasing

[@NorthAmerican-Trucking-News]

We don't know them personally to make that judgement

[@joelrivero5146]

Este programa lo que garantiza es tener un conductor por 5 años y después te regalan un camión que ya está terminado.

[@alse912]

Do you do team lease purchase?

[@kylemckee]

Ronen, would you consider SFI a good company when leasing a truck

[@NorthAmerican-Trucking-News]

We don't know them personally to make that judgement

[@maximusk545]

That’s crap 👎🏻 By leasing trucks to drivers companies are resolving their financial obligations to the banks. It’s complete rip off. Besides companies also shaving their cut before showing their drivers load confirmations.

[@brianwalker5843]

If that's your house you drink too much.! Try AA Ronnen😅

[@NorthAmerican-Trucking-News]

Hey now XD

[@DrLumba-NPeale]

How old is too old to get into a lease purchase agreement?

[@NorthAmerican-Trucking-News]

There's no cap on the age

[@victorcastillo9413]

Just remember the closer you are to a million miles the closer you are to crippling repair.

[@marcwiththestocks]

Anybody hear about Max move? Lease to rent (Solo) Fixed charges from Monday to Sunday * Company Fee %18 * Insurance $450/week (bobtail and cargo insurance) * Truck rent $950/week * Admin Fee $100/week (ELD, fuel card) * IFTA $35/week * Escrow will be collected $100 up to $500 until we reach $3000. it will be returned whenever you want to leave * You will receive your first payment on the 3rd week, till you have it we can provide cash advance up to $500 each week. Trailer rent is optional $250/week dry van swing door trailers