how do I quit?

deliciousV · Jan 31, 2006

ok, I run a straight truck that I got from an individual on a lease purchase. There is nothing binding in the lease agreement, by this I mean I can give the truck back and walk away. Well I need to do just that, the person will have made good money off me, they got a considerable down payment and a so called deductable deposit all of which is non refundable and I'm ok with that. My concern is all my settlements go thru this person/company before I get mine, They get their percentage then pass me mine. They've always been honest and fair with me, but I (like most people) run a couple of weeks behind in settlements, this weeks loads will be settled in a couple of weeks. I want to do the right thing and give a proper notice, but I'm very concerned that this person/company will keep my last 2 settlements. I need those settlements to move on to my new sitiuation and don't have the resources that they have to go thru some legel battle to get it back. Its just a feeling I have that they'd do this, an instict I guess. how should I handle this?

JohnMueller · Jan 31, 2006

Be honest. I've found that sometimes being honest can hurt you financially, but you can sleep well at night.

I would give notice, per your agreement. I would also speak with a representative at the carrier the truck is leased onto to make them aware of the situation.

Best of luck,

HotFr8Recruiter

budman70 · Jan 31, 2006

I WENT THROUGHT THE SAME THING AND DOING THE RIGHT THING GOT ME IN THE END, I GAVE THEM DUE NOTICE,BROUGHT TRUCK BACK, CLEANED AND FRESH P.M. OUT OF MY POCKET THEN THEY KEPT MY MONEY ANYWAY, WENT TO CARRIER LEASED TO NO HELP AT ALL THEY SAID THEY HAD TO PROTECT THE O/O, THEN THE BROOM RIDER I GOT TRUCK FROM SAID I DID NOT RETURN TRUCK I WAS THEN WAS NOT ALLOWED TO RUN FOR THIS CARRIER ANYMORE.SO DO THE RIGHT THING HOLD YOUR POCKET

deliciousV · Jan 31, 2006

well this has illustrated my delima perfectly, I am grateful for the replys, but they sound just like the voices in my head.

kwexpress · Jan 31, 2006

KW Express
o/o till i die

Well I guess when you made this lease purchase it seemed like a good deal to you and got you the truck

Why is it impossible for you to keep the lease/purchase going?

If its because you want to move onto another truck why not just turn the lease purchase over to another driver at your carrier and complete your obligation? even if you dont make any money off the deal why wouldnt you want to be the one to end up with the truck in the end.

Why let him sell it again?
let another driver finish paying it off and then when your deals done
you just take the place of the owner and you get the owners cut from that point on.

everyone stays happy the owner cause he dont have to do the leg work all over again. Unless hes a shark and just makes a living off selling the same truck over and over

you cause you get to move on to greener grass and wont have hard feelings about all the time and money you put in the truck.
and you come out ahead in the end cause hell you can find someone to lease it when you get it paid for.

the carrier stays hapyy cause the truck keeps rolling

here try this www.driversearch.com

find your replacement and stick to your deal.
Dont be a quiter

deliciousV · Jan 31, 2006

quiter or crook is my choice then, I don't want to be too specific and have the owner figure it out but here is a partial description of what I'd be passing on to another driver. My co-driver and I have been in this truck with a reputable carrier for less than a year, but not much less. We've pretty much had to run full time, what I mean is that we couldn't take scheduled time off or plan anything because the cost of the repairs to this junker owned us, the only time we got off the road was the time down for repairs, and I mean major repairs that were our respnsiblity under our agreement. we're doing our taxes right now, and for 2 people, we'll say more than 6 months, after repairs, fuel, and other truck related expenses we'll split about 16 grand to run 2 households. and believe me we've had to spend an awful lot of time away from home, mostly to repay our credit cards for funding the repairs. My conscience won't let me pass this trouble on, I guess I'll be a "Quiter"

kwexpress · Jan 31, 2006

KW Express
o/o till i die

Im sorry to hear thatyou have had trouble that long.Breakdowns are
to be expected.

I can very much relate to your sittuation I have a 98 tractor on lease purchase its been a hard road for me with repairs that amount to more than 10k in a 6 month period.and I still owe 16k on it.
but Im not giving up. a deal is a deal and repairs can be written off anyway.Next month it will be paid off and then I will profit from my struggle.not that I havent made some money I do well.

I dont know how much longer you owe on that truck maybe you paid way to much for it but I would hope you got it half paid off anyway in that six months

if not then maybe you should think about switching carriers cause 6 months with a team you should have generated enough cash to rebuild the whole truck.

Alot of lease/purchases go south I sure wouldnt do one with an owner that made me run with his choice of carriers.I can see letting him get the settlements but you are giving him to much of a chance to screw you if you put it on with the same carrier he runs all his trucks he can probabley make freight dry up for you whenever he wants.

I have met a few owners that make more money selling the same units over and over than they get for the freight thats run.

good luck

davekc · Jan 31, 2006

This post is all too common as to what happens with lease purchases between a owner and a driver.
Usually the driver leases the truck a owner can't sell because he is upside down in the loan or the truck has little value.

When this happens, it seems the story goes one of two ways. Either the driver is saddled with a junk truck needing numerous repairs, or the owner eventually gets a truck back that is trashed and needs numerous dollars reinvested in it.

I have seen few of these ever go to a full term and everyone is happy in the end.
Words to the wise.

Davekc
owner
21 years
PantherII
EO moderator

deliciousV · Jan 31, 2006

You've pretty much nailed my sitiuation. The lease agreement requires me to keep the truck in good repair, its actually in the best shape its been in since I got it right now, I have a nice opportunity in front of me and I'm afraid that if I keep running much longer in this truck it'll develope some new ailment that I'll be contractually obligated to fix, I need to give it back before it owns me again. Strangely my contract doesn't say a word about giving notice or anything else about turning in the truck, it just says if I stop running it and the owner isn't getting the payments out of it I forfit it back. I suspect the owner will be fine with me giving it back since he can resell it on the same deal I got. I can say it was a good deal, and if the truck hadn't been so costly in repairs I feel confident we'd have made a decent living.

kwexpress · Jan 31, 2006

KW Express
o/o till i die

and if you do it over again on another truck it will be the samething over again and then you will be crying even more cause you lost money twice instead of working pass the tuff time.

now maybe your truck is a lost cause but ive seen fl-70 that got 880k on them.Im not saying they hadnt been rebuilt but they are out there

I got 1.4 million on a 90 model volvo and still run coast to coast.

Chances are if something happens that cost 5 or 6 k your owner will help you out as long as you do your best to keep up and dont think trucking is a weekend pleasure trip with a bud

ATeam · Jan 31, 2006

Does your lease require you to run? If not, take a couple weeks off without terminating the lease or giving notice. Once your money catches up with you, give notice and tell the other person you are willing to turn the truck in earlier than two weeks if the owner is agreeable. If the owner is not agreeable, let the truck sit for two weeks and turn it in then.

deliciousV · Jan 31, 2006

I'm over 10 grand in repairs!!And nobody's ever offered to help. Hell I asked for help with one repair that ran 4500 and was told to check my contract, that was 2 months into this deal. I have the opportunity to split a new truck with my father inlaw and create an opportunity to be home way more, congrats on all you've accomplished there super trucker, now go polish your belt buckle.

deliciousV · Jan 31, 2006

That's our plan for now. + can't risk having them withhold my last 2 settlements. Believe me when I say they're getting back a much better truck than they gave me. I'm moving into a deal with a warrenty, super trucker be damned, I can't risk not being able to pay my house payment over some pride, If I had said this lemon came from a freightliner dealer S.T. Would have been all about getting out, he's probably another owner, they look out for each other.

LDB · Jan 31, 2006

This is probably your best course of action. Let the truck sit for 2 weeks and get your pay and then give notice and turn it in. You could possibly even be running the one with your father in law while this one is sitting.

On another note and not just to you but to everyone let's not turn this into personal insults.

Leo Bricker, owner trucks 3034, 4958
OOIDA 677319
73's K5LDB
Highway Watch Participant, Truckerbuddy
EO Forum Moderator 1+ Years of Service
-----
Support the entire Constitution, not just the parts you like.

davekc · Jan 31, 2006

This is a pretty sad post.

Davekc
owner
21 years
PantherII
EO moderator

deliciousV · Jan 31, 2006

I agree. Its sad, but it only turned ugly after inflammatory wording. Like "crying" and "weekend pleasure trip" were thrown about.I guess the my decision is made now so the question is moot. If a mod wants to close this thread it'd make sense. I never meant to cause trouble.