The trucking company owner operator lease-purchase scam. I’ve talked about it … I’ve written about it … I’ve done talk shows about it. Truth About Trucking was established with one goal in mind: to provide the answers to the insider secrets of the trucking industry for new CDL students and drivers. All those things that every veteran driver knows about, but, for whatever reason, few would discuss. Four years ago, we changed all that.
Suddenly, there was someone actually talking about the scams of OTR trucking. Scams, that every newcomer to the industry should be aware of, in order to know exactly what they are getting into when it comes to long haul trucking. Furthermore, by understanding and realizing the Truth About OTR Trucking . . . they would be better prepared to face those situations head-on and know what is to be expected of them in order to survive and make it in the OTR trucking game.
Being available through email, phone and from our Truth About Trucking “LIVE” talk radio show, I have received MANY questions from students and new drivers. It is the best part about being involved with an informative on-line format. Still, I find that trucking companies continue to prey on drivers’ hopes and dreams and wanted to reiterate in this post about one of the BIGGEST scams in the trucking industry: the Owner Operator Truck Leasing Program.
Here is a comment that was just made from our online petition to stop false DAC reporting:
“I RECENTLY SIGNED A TRUCK LEASE WITH A COMPANY CALLED XXXXX , THE TRUCK PAYMENTS WERE OVER $1000.00 PER WK. BUT I WAS TOLD MY TRUCK WOULD BRING IN OVER 4500 PER WK AVERAGE. THIS NEVER HAPPENED, SO AFTER STARVING FOR A COUPLE OF MONTHS AND LISTENING TO THEIR BULL, I FINALLY TURNED IN THE TRUCK. BUT NOW MY DAC REPORT IS NEGATIVE.”
For all of you new CDL students and new drivers trying to break into the industry, be very leery of these trucking company lease purchase plans. This is a big money maker for these companies and the chances of you succeeding with one of these plans is highly unlikely. I know that many of you would really like to be an owner operator and these purchase plans are so enticing, but the best way to be an O/O is to drive several years, save up the down payment and purchase the truck on your own from a reputable dealer . . . NOT A TRUCKING COMPANY. The only exception to this “rule” is obviously, if you have worked for a company for a good length of time and know for certain that they are a good, reputable company and one you can trust. Until you have some serious background experience with them, stay away from leases!
One of our highest rated shows on Truth About Trucking “LIVE” was about this very subject. I would urge you to give it a listen if you missed it:
Remember . . . there are many fine trucking companies out there to work for, but you will have to build up between one to three years of driving experience before you will be considered for hire. There are also very good companies that offer CDL training other than those we all hear and know about. Keep in mind, with the current state of the economy, companies such as these may not be accepting new students right now.
The point here, is that OTR trucking does work for many drivers . . . but a successful career in trucking does not happen overnight. It can, literally, take several years. Understand the scams that exist within OTR truck driving and know what to be suspicious of when it comes to this industry. One of those things is the Lease Purchase Plan. Not only will they use it to rake in more of your hard earned money, but when you cannot hang on any longer . . . they will turn around and place a negative report on your DAC, hitting you twice and very possibly ruining your truck driving career.
I’ll say it again . . . Until you have worked for a company long enough to know that they are a good and honest employer . . . then . . . Stay away from trucking company leases!
To your success in trucking,
© 2009 – 2016, Allen Smith. All rights reserved.