In order to create current and updated data concerning company truck lease options, we began our owner operator lease purchase program survey on November 9th, 2009. Before the recent recession, studies showed that these programs resulted in an 87% failure rate for truck drivers, a statistic that I first began to publicize nearly five years ago.
As truckers were hit hard by the recession, the job-hopping that was so common in trucking before, eased up due to the economic turmoil and we saw this rate fall to 57% as reported in our survey update in April, 2010.
As of April 3rd, 2010 we had received 1,711 responses to the survey, resulting in the fifty seven percent stat. As of this writing, the survey has pulled in 3,486 responses and I will be bringing this survey to a close on February 3rd, 2011. It will take me a few months to sort through all the data and post the final results.
Trucking secrets are no longer insider information, thanks to the power of trucking social media. Although there are company lease drivers who have done well with these lease programs, the majority of these trucking company lease purchase programs are designed for the driver to fail. The 87% failure rate study was reported several years ago by an independent accountant but I wanted to bring this issue to an updated level, thus the reason for our survey.
If you have been involved with a trucking company lease purchase plan or know someone who has and have not taken the survey, you can do so by February 3rd, 2011. Whether the result was positive or negative, we would like to get as many responses as possible before the survey closes.
With nearly 3,500 responses to date, I feel that this is a decent number to provide a more updated statistic on what is widely known among veteran truck drivers as being one of the biggest scams in trucking.
We will let you know the final results of our trucking company owner operator lease purchase program survey once all data has been reviewed.
UPDATE: July 15th, 2011
Results of the survey have been completed and are available online at :
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