So, as you guys can remember, a few months ago I started looking for a decent company to try a lease purchase program for the first time in my career. About 80% of posters told me it’s a very bad idea, but I believed that lease purchase means more freedom, more hometime, and, eventually, a paid off truck.
Oh boy how I couldn’t have been more wrong. Hunting for a "more hometime" option I ended up having less hometime than I ever had in any of the companies I drove for. Turned out that post saying that fleece purchase drivers can’t afford hometime was not a sarcasm.
So, after 5 months on a lease purchase program with Gulick, here are my pros and cons.
Pros:
1. No driver facing camera.
2. Trucks governed at 70 mph on both pedal and cruise.
3. Newer Volvo trucks with original Volvo fridge (GOOD one, it even has a freezer!).
4. You can do all 48 if you want. You can only do 11 western states if you want.
Cons:
1. Absolutely no money here. After all deductions I make about the same what Swift students make during their first months.
2. 90% reefer loads, 90% live load/unload.
3. Smells like a favoritism here! I mean, I can’t prove it, but it’s a small company (around 200 drivers) and daam it smells BAD like there is a favoritism.
So there are no company drivers. Which means, there is no such a thing like good trips go to company drivers, bad ones go to fleece purchase drivers. No. Despite this, see #1 Con.
Hope it was helpful information.
My lease purchase experience with Gulick Trucking
Discussion in 'Motor Carrier Questions - The Inside Scoop' started by Sonny B, Mar 13, 2024.
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Knucklehead, Lonesome, Dennixx and 5 others Thank this.
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.. I didn't find your pros being pros
H3R3T1C, Sonny B and Crude Truckin' Thank this. -
You out of Vancouver, Wa. ? Explain hometime or lack thereof . As in, request hometime with-in reason, but you seem to be 1500 mi away and going the opposite direction ?
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Times are very bad. Especially for O/o's who only are running loadboards & more for Leaae Purchase O/o's. Some are waiting out the storm whiles others are selling their equipment.
Knucklehead, Sonny B and joshr2216 Thank this. -
A lease operator is very much obligated to the truck co. he is signed on with. I mean, you still are doing the same thing, picking freight delivering the freight, dealing with shippers/consignees, police agencies, traffic, weather on and on. AND I might add, they are doing the bookeeping, right ? So, the "more freedom" part doesn't wash.
Knucklehead, Sonny B and joshr2216 Thank this. -
The BIGGEST mistake you made was ignoring the numbers that come with lease purchase. Lease purchase is no different than time shares.
Let’s be generous with the numbers.
+$8,000 gross per week (generously)
-$800 to $1,500 truck payment per week
-$2,000 Carrier's cut
-$250 Cargo insurance
-$250 maintenance account
-$2000 to $2,300 Fuel (better have apu)
- Any other bogus fees
How much do you take home? And god forbid you take a couple of days off.
AND PLEASE STOP BELIEVING THE $10,000 to $12,000 gross promises. If they could gross $10,000 every week they WOULD NOT lease the truck to you.
The only time you entertain leasing a truck is during the good times. Good fuel prices and most importantly during a good time for freight. Make sure it’s walk a way so you can walk a way during the bad times.Knucklehead, hotrod1653, Ok big boy and 2 others Thank this. -
No mention about rates! The most important part!
Were they honest about the numbers up front?Knucklehead, Sonny B, unloader and 1 other person Thank this. -
Companies only lease out the trouble. If I had ten truck I would lease them all out. My ad would look like this:
Dream of being an Owner Operator? Let us help you with our Lease Purchase program.
Make $10,000 to $12,000 per week. We have the miles (3,000 miles per week).
Call us today and we’ll start the process. We'll fly you out and allow you to choose your dream truck TODAY!Knucklehead, Ok big boy, Lostmykey and 1 other person Thank this. -
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In case you’re not a fan of Volvos, they also have newer Kenworths and Peterbuilts. I think they’re even cheaper.
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