INVESTORS BEWARE of finance company

[ejtrucker]

Investors beware
I will keep this short for the sake of a quick easy but informative note.
I recently tried to get into my own expediting truck. The company I got the financing through was
NORTH SOUTH LEASING. These people have the gift of gab and you think you are getting in with a
good caring company. But as my truck that I had for only 8 weeks started breaking down every week, with me missing out on good loads and occurring costs for major repairs, NORTH SOUTH LEASING could care less. I have hired a lawyer to help getting some of my money back. But it was a disheartening experience to see hard saved money be put into a truck that is now back in the hands of swindlers, preying on innocent hard working people trying to make it in our failing economy.
I was lucky enough to find a truck to drive, it is not my own. But with the hard work I am capable of I hope to regain and get back into my own rig again.

EJ


x(

 

[arkjarhead]

Sorry to hear about your misfortune. Hopefully things will get better.

Gray skies are gonna clear up put on a happy face

 

[Xpediter]

yawn. 2 sides to every story.

X

 

[mrgoodtude]

Not to pee on your parade but did you do any research prior to jumping in a truck LEASE
Had you done research you would have found out
One needs a maint reserve (in your case a repair reserve)
Expedite is not stupid proof (even if your truck runs like a perpetual clock stuff happens and as a business owner you have to be prepared).
Never-mind the rest why exactly do you feel slighted?
What did you lease? and for what term?
Just curios cause you really haven't made your case and I would love to be the 1st to salvage something from your post.
Mike

 

[ejtrucker]

Yes to all, I have usually leaned toward newer vehicles but I waited a bit too long before I got going, meaning I had dipped into savings trying to keep another one of my business afloat. The NORTH SOUTH LEASE Company was a referral from a reliable source. When the truck first started having mechanical issues the NSL did nothing but complain about how much money they have lost on this truck. That is when I realized that I bought someone’s lemon. And in turn it since you cannot treat the badly and get a satisfying response, to know that you are causing harm. You can kick a truck and the only one who will hurt is the one doing the kicking. Not only did my reserve of $10,000.00 but every bit of every check go into it. Finally I had to say enough. NORTH SOUTH LEASE COMPANY , took the truck back with all the new parts have been put on, in their mind I was the problem, I wish, that would be a lot easier to fix. NORTH SOUTH LEASE CO. portrays themselves as a company that cares about “their drivers†what a joke is all I got to say. It reminds me of the commercial on TV where the car is in a hurricane and the type at the bottom says, “New Interior†like the trucks add COLD AC great working condition. The first major repair was the AC, I had to have a new compressor, condenser and some hoses put on, $1600.00 That was the second week in service, every week after that there was a major repair, when I say major I mean over $1000.00, and if not done I don’t run. I have run a history on the VIN and gotten names and numbers of past owners, something I did not realize I could do until I talked with an attorney. I have talked to 2 of the previous owner/leasee, and the compressor for the ABS system that I just replaced was mended with RTV which I found out when it blew two weeks ago. I was told that Bob and Lily Anderson of NORTH SOUTH LEASING were well aware of the problems and have a reputation of taking the money and when your truck won’t run, you can’t work and make a payment, and they take the truck and sell to another sucker. One way to find the other side of a story is by doing the VIN check.

 

[ejtrucker]

I see when I pasted my post only part made it. Not that it is the meat of the post but to me it is significant. I think this is a little much in this short of time.
WEEK 1: new windshield (on my way to pick it up I was told it had a crack) and new front tire with alignment (radial separation)
WEEK 2: ac condenser, compressor, hose and tensioner.
WEEK 4: 3 new batteries, harness and main ground cable.
WEEK 5: ABS compressor (down one week for parts and during holiday had to wait for mechanic.
WEEK 7: High pressure oil injector blew. Oil everywhere.

 

[mrgoodtude]

OK
EJ thanks for clearing up the cloud..
You have done a great service in that you have shown what not to do when entering expedite..
I know nothing whatsoever of North South leasing but am confident when I say if it looks to good to be true it probably is..
I am curious however your reasons for going that route, again for the benefit of others considering this field why do a subprime deal as opposed to buying a new truck or better yet driving for an established fleet owner.
Not bagging on you bro but you could go to bed tonight knowing you saved someone else's azz from doing something er uh well stupid.
Doesn't matter if it is North South or Transamerica there is a time and place for everything.
That being said...
Who do you lease with?
Team or solo?
Driver prior to your bad experience?
These things are important to know for the forewarned expediter type.
Mike

 

[greg334]

Sorry for you problems but buying a truck is not like buying a car or house for that matter. This all may sound harsh but regardless what the leasing company said, it is your responsibility to check things out.

Don’t get me wrong, I sympathize with you. I feel the frustration, when I decided to buy the truck I am in right now, I went to the trouble of making sure it was what the guy said it was all about. I paid $500 for this truck and paid $250 for another truck for one simple reason – I didn’t want the owners to have a hand in checking the trucks out.

Oh mind you that there are problems with the truck, I still have an issue with the fuel pressure sensor on the injection pump, the wiring has been updated by Cummins and there is a chafed wire in the new harness that needs to be fixed.

But anyway, I took this as my responsibility and not to ‘trust’ anyone when they say this or that was done. I paid to make sure I didn’t get screwed over.

I always recommend some very basic things when purchasing a truck;

Get the thing dyno’ed at one of the dealers, the HP and blow by will tell you the condition of the engine

Have the ECM dumped and printed out and go through it with a certified mechanic for that truck/engine. Look for hours and mileage to compare it to the stuff on the dash. Also look for reoccurring errors, like low ECM voltage or in my case fuel sensor faults.

Find a VisCheck dealer and have that done to it, this tells you a lot about the condition of the truck.

If the engine oil has been changed, see if there is an oil analysis done – if the oil hasn’t been changed, take it to a place that can pull oil out of the pan for you and have it analyzed (by the way, blackstone oil labs will send you the kits free, www.blackstone-labs.com or call them up at 260-744-2380 and ask for a few kits. Tell them what you are doing and they can send you 5 or 6 of them at a time). Deal with one lab and only one lab – don’t take it to speedco and than have some other lab do them from that point on. With the cost of $22 to $30 for a good OA, it is worth the hassle.

AND finally get the VIN and go to the dealer with it. They can tell you who ordered the truck and what was ordered. They also can tell you any thing done to the truck at the dealers repair shops.

When you get the truck, I would expect to get a two (*or three) axle alignment, the oil changed and the chassis lubed.

Things that I know no one can control are like the batteries and cabling, I already knew that I would replace them anyway but I have replaced one battery so far and fixed one negative cable. The A/C is another thing that I find is out of peoples control, it may work one minute and not the next but depending on how it was repaired, it matters how long it will keep working.

Many people don’t go through this much work but I look at it this way, a truck is a tool nothing else and if you are going to take it on the road, you want your tools to be in the best shape possible.

Oh and one last thing I tell people, if the owner will not allow any of this to happen, walk away. There are more trucks chasing people than people chasing trucks.

 

[ejtrucker]

The answer one question is why I went the route I did. It was offered and it allowed me to go with a low down and being a 1st time buyer I was able to hang on to money for repairs etc. As one of ya said, there will be some repair, specially on a used vehicle. The deal was not the best, so there was no to good to be true, for me it made since to not put my entire egg out and when I looked at other trucks this truck was comparable. My biggest complaint with this company was there lack of ownership in that the truck was breaking down to the point it needed a major overhaul, which at this point in the game, my money was gone. Unfortunately ##### happens. The mechanic I had check out the truck is as good as they come; he is a fleet owner, DOT inspector and a career military diesel mechanic. I will be an owner op again. I have owned several boats, (I owned a dive shop in the Florida keys for 10+ yrs) with diesel engines and have some knowledge to get me to the point I can tell the mechanic what I have figured what is wrong so I do not get robbed.
I have always been an one to learn things the hard way, though I thought I checked out the truck good enough. I have bought a plane before that is one you check out before you take for a test drive.
I now drive for a reputable fleet owner. Maybe a blessing in disguise.
MY REASON FOR POSTING IS TO LET PEOPLE KNOW THAT THIS COMPANY IS NOT USER FRIENDLY.

 

[ejtrucker]

THANK YOU

I copied the information you shared, I will add it to my bag of tricks for future needs.

KEEP ON TRUCK'N


EJ

 

[Suds43]

2 words.......BUYER BEWARE!!!!

sounds like your "reliable" friend wasn't so reliable.......

 

[mrgoodtude]

6 Words
Borrower is slave to the lender...

 

[ejtrucker]

good one,
like I said, after cutting my losses this just might be a blessing in disguise.
I am driving for a great fleet owner for a great caring company 2 out of 3 is pretty good.

 

[cheri1122]

Thank you for putting it out here, Ej - if you got taken in by them, someone else surely would too.

 

[nightcreacher]

Not to be hurtful,but as was once told me.you bought a used truck.Many leasing companies sell the same truck over and over,before you ever buy or lease,make sure you see a maintanence history on the truck you are looking at,or stay away.its very difficult to make payments when the vehicle is in the shop,With the cracked winshield,tire separation,these thing should have been a red flag,or at least should have been repaired before you took ownership.
Air conditiong in trucks need repair yearly sometimes.the things you stated that were wrong are things that will go bad with a used truck,can even happen to a new truck,just new truck would be under warantee.that is another red flag,if leasing company wont warantee stay away.good luck,most people learn from mistakes,hope this isnt to harsh a lesson