Lease-Purchase? Leave it alone!
Wednesday, June 7th, 2006More and more, I hear brand new truck drivers contemplating the lease purchase programs many companies are now advocating. It never ceases to amaze me how these companies will target new drivers. Swift Transportation and Prime Trucking are two of the most aggressive lease purchase companies out there, but it seems all of the companies have jumped on the band wagon.
After all, why wouldn’t a trucking company want to pass along the costs of fuel, purchasing a truck, truck maintenance, truck insurance, permits and health insurance? Not to mention, they no longer are expected to provide a 401k plan with company match. And they get to charge the driver much higher prices than market value for a truck that won’t be worth much at the end of the lease.
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