The Feds Just Announced All Lease Purchase Deals Should Be Banned

All the things going on in this country but they choose to focus on this? How about stopping imported/rented labor? No natural born citizen should ever have to compete with foreign labor.

 

This might help those who make poor decisions.

 

I just think people are responsible for their own choices and it’s not the government’s job to protect them from the consequences of their choices. Respectfully.

Also, I see nobody has stepped up and said where the line should be drawn after lease purchase programs.

 

Can you say larg

i dont know your age or background , it's none of my business. But if you and i are of the similar then knowledge was passed to us from elders . These current 20ish yr olds , i wonder if they were taught a dam thing . Certainly wasn't from public school these days . I do agree tho gov't
Isn't a nursemaid but sometimes they can be helpful . Anyhow goodluck out there .

 

"On January 16, 2025, the TLTF submitted a final report to federal authorities suggesting that lease-purchase programs are harmful to truck drivers and should be banned by Congress."

I think I would add harmful to the trucking industry as well. Eliminating lease purchase would free up the number of trucks on the road. Might help load rates go up. It's not only trucking companies that participate in lease purchase. There are businesses designed solely to lease out equipment under the lease purchase model. I think it's better if a driver has a truck then leases on to a company, as opposed to lease purchase. It can work, but guys that do it don't really want to be business owners. They think they can work at will. Business doesn't stop. I think the industry could go without lease purchase. We don't need people trying to be something they're not.

 

"The committee also looked to negative feedback from the trucking community and industry stakeholders, as well as TLTF-reviewed data, which showed that “lease-purchase programs cause widespread harm without offering meaningful scale opportunities for truck and small business ownership.

I think I agree here. It seems more like a pipe dream to own a truck and business ti's way than a reality. That's not to say it's impossible, because I have seen drivers pay off the truck. Most people don't have that drive though. I think it can work of there's a willingness to work long and hard, and the driver has a little capital.

 

Some type of financial literacy course should be mandatory in high schools, but that will never happen because our society is built on debt.

 

This is guaranteed to piss off quite a few leasing companies (Ryder,Penske,various 1099 outfits,etc.).

 

Well maybe I am one of the few that was successful with a fleece purchase.
Would I do it again? No.
Is it a decent opportunity to get into the business with very little risk? Yes

But and this is a big butt. There is really only one way it can work for you financially and that is if the company let's you run like a o/op that is leased on. Meaning there is no dispatcher determining where you go. You are free to work with who you want, in the part of the country you want, able to run off load boards, etc.. you need 100% control over your revenue and the majority of fleece purchases don't offer that.. I have known a couple guys that have been successful with multiple trucks , but when you sit down and do the numbers. A guy will come out miles ahead by going and buying a truck and leasing on somewhere... but for me I thought it was a good opportunity for me, and I'm glad I did it and was able to actually transfer the title to my name after it was paid off.