Well, I am finally finished with the Q-Fleet. I asked for some home time this coming week so I can take a couple of days off to relax and reflect back on the last 3 months. I have a big decision to make and I have received counsel from both sides of the fence. I am leery to lease as all the responsibility lies in my lap. I just think the whole thing seems a little risky. If I get sick or my wife needs me home for some emergency, I’ll get the days off, but as a friend said to me, the truck payment doesn’t take a day off just because you do. If the turck is down for any reason, I'm not making money. As another friend put it, "If you don't have enough money in the bank to cover 4 months of expenses, don't do it". I’ve talked to countless lease drivers and I get a 50/50 mix in response to how they feel about the lease program. Even my trainer said that he became a trainer because he tried everything else to make the lease work and that training was the only way.
There’s no way I would ever train, I value my life and there is only one person I trust. But the other side of the coin is that there are people out there that are on their 3rd and 4th lease that seem to be doing well. This really bums me out, I was really looking forward to doing the lease program, but my gut tells me NO, and every time I go against my gut I lose. The thing that worries me is the fact that a company solo drive is at the bottom of the list when it comes to runs. The company is Pro-Lease, so where does that leave me.
I’ve allot of things I want to report on but it’ll have to wait until after I get done with this phase of the process. I just can’t be my creative self when bogged down like this. Thank you everybody that has talked to me on this subject.
Let me know your thoughts on the subject. Is there anyone out there that has had any experience with a lease program?
E-Mail me at: warrentrucker@yahoo.com
Or click the comment button below and leave your comment there.
Thanks:
Warren
Decision Time, The Training Is Over.
Posted on Sun, Aug 07 2005 @ 7:08 PM [PST]
[Comments] [Send Article] [Improper]Category Posted: General
Comments
Be very careful Grasshopper!
Give yourself the gift of time. Time to gain experience, time to save several months worth of expenses, time to get the right feeling in your gut.
You know you've got the ability and desire to succeed. Map these into a plan and work the plan.
Comment By:
Mark Stetson on Mon, Aug 08 2005 @ 6:50 AM [PST]
Comment By:
Mark Stetson on Mon, Aug 08 2005 @ 6:50 AM [PST]
I would advise caution, myself. From our own experience, we were able to buy a used truck through our agent, and we put up a large down payment, but even the $1000/mo. was a challenge at times, particularly when things would slow down unexpectedly. It's a risk. On the other hand, our Savior is able to provide His children with what they need. Seek ye first...
Incidentally, we met another driver last Sunday who had an engine blow- total repairs, not counting towing, etc.=$34,000. But our hope is that his faith (and the prayers of others) will uphold him whether he continues as an O/O or some other door is opened. Sometimes new beginnings come disguised as catastrophes. (The driver's name is Jim.)
God's best, Sir Warren-
-Ken and Karen
Comment By:
Ken and Karen on Mon, Aug 08 2005 @ 1:15 PM [PST]
Comment By:
Ken and Karen on Mon, Aug 08 2005 @ 1:15 PM [PST]
Try asking someone in CRE or dispatcher for a list of names and numbers of O/O's so you can actually contact them and ask real questions.They should be willing if its as great as they say.Be sure the list includes new O/O's and those with at least 5 years with the company.
Comment By:
Eric Barnes on Mon, Aug 08 2005 @ 3:16 PM [PST]
Comment By:
Eric Barnes on Mon, Aug 08 2005 @ 3:16 PM [PST]
amigo, I am a lease purchase driver. One of the things that my wife and I did was to shop around with the various companies and check out the plans. But, I have a big advantage on you as I have so many years of driving experience and it might take you a little while to catch up. I am very happy with this truck and the company I am leased to. I have been here for over 3 years and every year my yearly income increases. My payments are $1800 a month on a 2002 but I have never had a problem making my payments and I will have the truck totally paid for in less than a year. It will be mine next summer. Make sure that this is what you want to do as it takes a huge committment on you and your wife's part. You know from reading my blogs that I stay gone for 6-7 weeks then home for a week. I cannot get home every other weekend and still make good money. You don't have to worry about the payments, they take them anyway whether you have any money coming that week or not. surprise!!!
Comment By:
lenutt on Mon, Aug 08 2005 @ 9:32 PM [PST]
Comment By:
lenutt on Mon, Aug 08 2005 @ 9:32 PM [PST]
Hi Warren,I enjoy your blog.Just some thoughts from an outsider on the lease/purchase decision.You will be starting your own business, not just buying a truck.Not only will you have all the trucks expenses,but you will be giving up company benefits like insurance, retirement,paid time off,etc.Most new businesses that fail do so from lack of startup money and no plan to keep track of if you are making money. I would start by talking to an accountant and business advisor that knows trucking. Also if you do decide to lease, please have a good lawyer that knows trucking go over the contract with you. The web has some good sites for owner/operators, also Select Trucks has some info on their site about budgets and info on American Truck Business Services and a magazine about owning and operating their used trucks.If done right being in business for yourself can be great.If not you have to try again. Most importantly, go with your gut. Good Luck, and rember to enjoy whatever you do, Jeff
Comment By:
JustJeff on Mon, Aug 08 2005 @ 11:16 PM [PST]
Comment By:
JustJeff on Mon, Aug 08 2005 @ 11:16 PM [PST]
Thanks for all the input, I appreciate every bit of it.
Warren
Comment By:
Trucker Warren on Tue, Aug 09 2005 @ 4:35 PM [PST]
Comment By:
Trucker Warren on Tue, Aug 09 2005 @ 4:35 PM [PST]
Great advice coming from all sides...The best thing you can do is ask questions of people in both camps & figure out how much time and money you want to commit. Don't make the decision solely on the money either. You have to work the numbers, but be sure to factor in where you want to go, and what kind of life you are seeking. (that might sound kind of negative, but that isn't the intent.) It seems you have a few options out there, and it is obvious your future in this industry is looking good. Just don't let yourself get so stressed you forget to enjoy it. That is my .02¢ anyway. Take Care.
Comment By:
K on Fri, Aug 12 2005 @ 10:35 AM [PST]
Comment By:
K on Fri, Aug 12 2005 @ 10:35 AM [PST]
Comment By:
jim on Sun, Aug 07 2005 @ 8:37 PM [PST]