owner lease purchase

[davekc]

I think you are taking things the wrong way. While it may not be in your favor, it would be of service to a present or future owner considering this kind of deal. As you said, it is a forum so it would seem logical that responses that may aid a buyer or owner would be recieved.
If you put down hypothetically 20 percent, and the owner gets 15 percent, that is still not the best investment for a owner that could run a team, carry the costs and recieve 40 percent. There are other investments that provide the same or greater return without the exposure or risks.
That risk changes if you break the 30 percent down and pay 15 percent for the money.
In a lease purchase it is worse because there is no tangible asset at the end. In otherwords, when the truck terms, he is giving it to the buyer. If he goes to purchase another, he will need to take a portion of the 15 percent to aquire another truck.
This only works for a dealer that is doing alot of business, and can recover some costs and risks through volume sales.
That is why when you do see these deals, the interest rate is high, and so is the actual price and milage of the truck.
The other scenerio is a seller that is upside down in the loan and can't unload the vehicle for what he owes.
You may be the greatest team in the world, but that is a seperate issue as to whether something is a good deal. As I mentioned in my other post, there is enormous risk if something goes south.
If you want to stay out of the $33,000 truck, continue to drive for a fleet owner that runs newer equipment and gets a fair return on his investment.








Davekc
owner
21 years
PantherII
EO moderator

 

[bernieh48]

Like I said if you don't want to do it then don't period. Quit wasting my time on here or I will go elsehwere again.

 

[romoore245]

Well if you cant get a truck this way, you might try talking with matt at conway. The lease purchase they offer is a fair program. He told us he can push through some credit problems if you have work history with conway.

 

[bernieh48]

Thanks for the info. Will keep it in mind. Finally someone with some constructive advice.

 

[guest]

This is an open form and people are just giving you ideals. Davekc and Greg are trying to help you understand things not waste your time.
Getting mad only makes you look bad, which i'm sure you are not. Don't be bitter, be better as Joyce Myers always say's. If your looking for a lease to buy. Try looking up Pat Hopkins, I know he does that. He has had posted on here.

Drive safe

Dave Mayfield
FEDExCC/Roberts express O/O Since 3/1/1995
C1847,C2045,D3397,

 

[bernieh48]

Already know all about Pat Hopkins. We actually almosy made the mistake of driving for him.

 

[targuard86]

I'm a fleet owner and If I was in the market for a deal like this I would not hire this team simply because of their attitude. They want to be the boss and tell everyone how to do things but are not in the position to actually be the boss.

Andy I could care less if you don't like what I say.....

 

[x06col]

Atta way T. Myself, I represent that remark about the $33,000 truck being junk. Seem we are in a payment oriented world. We'd rather have $2500 a month payments, hoping that the horse will live a little past the payments. Heaven forbid if we have to turn the radio down a bit to listen to see if our horse might need a little attention after the next delivery. It gives us a headache to plan and organize a maintenance session in a desireable area, so, we don't get the headache. Oh well.

 

[bernieh48]

Fine to all. Thanks for proving these things are wothless. God Bless all. Will never be back on here again. I tried being nice in the beginning and everyone was telling me where to go. Most owners don't even read all the way through all of this anyway.Bye.

God Blesses All the Little People!

 

[guest]

EO is a great place, having a negative post on here is something people may get upset about. You have to understand there point of View, To come out and talk about Buying a $134,000.00 truck for someone that they don't know. Maybe that's why your getting the post's your getting. Owner's are sick of putting Driver's in nice trucks only to get screwed over. Not saying that you would do that, but owner's want people to prove there worth buying a truck like that 1st. That is what DaveKc and Greg was trying to say. I have never met either one of these men but I do know that they are very good people and just tell it like it is.


Drive safe

Dave Mayfield
FEDExCC/Roberts express O/O Since 3/1/1995
C1847,C2045,D3397,

 

[Streakn1]

>Already know all about Pat Hopkins. We actually almosy made
>the mistake of driving for him.

Dear Allen & Bernie (AKA bernieh48),

When I first read your post asking for help finding a fleet owner to buy the truck of your choice and then do a lease/purchase, I was impressed with your background in expediting. I immediately wanted to help you. You also had indicated in a later post you had a bad experience with a fleet owner. When a reader asked you to post the name of this owner, you refused and stated a reason why.

I sent you a private email the first of the week attempting to help you find an HONEST fleet owner to buy the truck and then set you up in a lease/purchase. I complimented you in that email for not using this forum as a place to bad mouth others. I saw that as very professional on your part. To date,you've ignored me. Then Dave Mayfield tried to help you find one of the HONEST fleet owners out here willing to take a chance on you. Your response to that is to "bash" this fleet owner on an open forum like this!

Let me tell you something here, and I dont care if you like it or not:
Pat Hopkins, whom you choose to bash is a very honest and long term fleet owner. He is one of the fleet owners that has LONG TERM drivers. Would you like to talk to some of them? We have friends that have driven for him (and still do) that think the world of him. One doesn't earn that kind of respect and loyalty from their drivers when they are a less than HONEST fleet owner. His terms whether you're a percentage driver or in a lease purchase are as good or better than many of the other fleet owners. Granted, there are other good fleet owners out there, but if anyone can talk about bad fleet owners, I can. I challenge you to read my post "Honest/Dishonest Fleet Owner". By the way, Pat Hopkins is our lease/purchase holder as we had to do the same as you are trying to do. Do you think for a minute if our lease wasn't going as agreed upon with Pat we would recommend him to you? We have friends that went into lease/purchases with other fleet owners that have been a disaster! We would not want to see anyone in a bad lease, including you.

After the attitude you have shown towards others that have tried to help you on this forum "NOBODY" should get involved in helping you! You dont deserve the kind of help owners like Pat Hopkins or others can give you. If you "almost made the mistake of driving for him", trust me the "mistake" was in Pat's favor not to have you as a team!! Pat's brother Tim called you to talk to you about buying the truck for you or not, but you didn't have time to talk him. Either Pat Hopkins or Tim Hopkins would have been good choices to help you purchase this truck. Good luck in your search!!

 

[bernieh48]

I'm not saying Pat or Tim Hopkins are not honest, but the truck we almost got into was in such bad shape it had roaches inside the sleeper and also coming out of the refidgerator. Glad things are working for you.

 

[tec1959]

Well you know after being in the this field for about 7 years and reading all the posts here,There's alot of Owners and O/O's that have saved money for a rainy day,And have the money to purchase any type truck they want,And still don't drive a truck priced at $128,000 plus for them or there drivers.When someone who you don't know wants that kind of truck bought for them from the get go somethings wrong.Maybe after 6 months or a year when the Owner see's what they can do then maybe so.I think they got great clean advise from everyone that posted here,And PPL like DaveKc,Greg and Dave Mayfield and the others told it like it is....Thanks guys for the help you give here on EO,I learn alot from all of you...

 

[ATeam]

>Already know all about Pat Hopkins. We actually almosy made
>the mistake of driving for him.

I don't want to get into the pros or cons of lease/purchase or opinions about the attitude of the original poster in this thread. I am, however, compelled to rise in defense of Pat Hopkins and his brother Tim Hopkins.

Since entering the industry in August, 2003, Diane and I have driven fleet-owner trucks. We've driven for various owners over the years, including Tim Hopkins. Tim and Pat each have their own fleets. Being brothers, they work closely together, which gave us the opportunity to know them both.

Our business relationship with Tim Hopkins and Pat Hopkins (Columbus Ohio area) was positive in every respect. While we no longer drive one of Tim's trucks, we continue to consider them good friends in the industry and good guys in general. If Tim does not call first, we make it a point to call him every now and then just to stay in touch and talk shop.

I can say without hesitation that Tim Hopkins and Pat Hopkins are among the good guys in the fleet owner universe. I have recommended them (as well as others) to people who contact me in search of fleet owners and will continue to do so.

 

[Tennesseahawk]

David... no use talking, as she only wants to hear how great a team her and her hubby are. I can't believe someone is so stuck on themselves! Guess you know everything. In that case, what's the use of coming to a forum? Sorry I ever responded to ya.

BTW... after talking down to us, then saying God bless... comes across as "Kiss my a$$, and have a nice day!"

Sorry Lawrence... had to say it that way.

 

[tec1959]

THawk I agree 100% with you...Thanks...

 

[bernieh48]

Well you no what, I sincerely apologize for how you people have taken things on here. I fully understand everybody's opinions. All I asked is for people to understand my side too. I definitely do NOT think of myself as better than anyone. All I asked for was a chance, but guess that won't happen on here. Sorry for all the hassles. Streakn1, sorry for not responding sooner. When Pat or Tim or whoever it was called the other night I was driving in a blinding thunderstorm with tornado warnings and couldn't talk. I even told him that. He said he would call me the next morning and I told him I wouldn't even consider them again because they did treat us right even though we didn't go to work for him. But he never called back. Sorry for all the misunderstandings, no need to get nasty. Good night and God Bless!(Anyway)

 

[davekc]

Thanks Dave for the plug
===========================

The majority of our members are here to help regardless of what you think. You took a shot at a fleet owner that clearly sounds like it wasn't justified. Apparently you fail to do you research as there isn't one negative post from one of his drivers in this forum. For that matter, I don't have any either.
Soooo...let us call it what it really is. You are crying and whining and somehow think you are entitled to something beyond the path and struggles that others have had. You may be the greatest drivers out there, but that is much different than running a business. The truth is, you both divorced and now blame your ex's for your problems. You married them which turned out to be a POOR decision on your part. Since you were married to your former partners, one could easily assess half of the problems to both parties. If not, then you failed to plan and that still ended in the same result. The problem will correct itself with time, but an expectation that someone will throw 128,000 on the table for someone with a problematic past would not be wise. Even more so if they don't know you.
Here some advise...find a relative to co-sign a loan
Your past clearly indicates your poor choices and that is why a bank won't finance you. If they think you are a high risk, why wouldn't anyone else, unless there is a substantial reason otherwise?
I do wish you good luck in your search. If you do find that lucky owner, I have some oceanfront property in Vegas I would like to sell him. I'll even for go the 15 percent.
I should ad, you haven't answered the original question, but instead cried because you didn'tget the answer you wanted. What individual would want to give you a truck and make only 15 percent?











Davekc
owner
21 years
PantherII
EO moderator

 

[LDB]

There have been some very good answers so far. Here's my input.

Buy one truck $126,000 and have one team driving.

Buy two trucks $63,000 each and have two teams driving.

Buy three trucks $42,000 each and have three teams driving.

For $63,000 you can get a very nice truck. For $42,000 you can get a nice truck that's in good shape and will work well.

As an owner I'm looking for income from my investment. If I put $126,000 into one truck and have one team running 3500 paid miles a week that generates about $4k a week gross. If I buy two very nice $63k trucks with two teams that makes around $8k a week. In three trucks you generate anywhere from $10k to $12k a week on the same $126k investment.

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

 

[bernieh48]

Well gee wiz I can't even sincerely apologize.Oh well I tried. I did not bash that owner. I merely stated my exp. with him. Then in my last post I even praised how he treated us. But I guess you didn't read that part. Oh well God Bless anyway. Stay safe out there everyone.