Carrier Lease Purchase vs Lone Mountain. 2024 Truck Buying How to Own it

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Carrier Lease Purchase vs Lone Mountain. 2024 Truck Buying How to Own it

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Ай бұрын

#CashisKingTrucking #LeasePurchase #owneroperator
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Пікірлер: 70

@CashisKingtrucking Ай бұрын

ES Advantage helping truckers save on fuel, tires, and maintenance with the ES Advantage card! - Easy application & NO credit check. apply.rcdl.us/refer/ZOFS7gD5w?s=t Looking for great Internet anywhere? Check out my partners at Nomad Internet! go.nomadinternet.com/cash-is-king-trucking

@marshallmotorfreight9547 Ай бұрын

I did a company lease for 3 years from 2017 to 2020. Company offered a $10k completion bonus, plus had cash stacked in a maintenance account. Took the cash and bout a truck with APU for $9k in 2020. Still running that cash truck to this day. Not saying it's the best way, it's just "a" way to get a truck with no payment.

@CremeDeLaCreme72 Ай бұрын

I bought my first truck from lone mountain and 5 years later I bought a big bunk from ARI. Lone Mountain was fair and I’d buy another truck from them if I ever had the need to.

@user-ep2es1mp5r 15 сағат бұрын

Cash best way to get a truck i know is going to a small outfit and agreeing to drive forced dispatch 6mths zero home time and truck is yours. You get to know the truck.

@nannygirl Ай бұрын

Thanks for breaking the egg of knowledge on us❤

@ozzy_selfx614 Ай бұрын

Hi Kash. Great video, great input and suggestions.

@Donald-jm4hi Ай бұрын

You have probably made more sense than anyone I have watched on the subject of mega lease vs dealer lease you really broke it down the way it is

@AlJohnsGuitar Ай бұрын

Cash with the good advice!

@ThisTruckingLife Ай бұрын

The difference is the cost of Entry 🚚 💰 🔥

@truckercarlson9081 Ай бұрын

I like the prop pen you used for this video. Throw a pair of generic black rim glasses, and you'll be Professor Cash.

@CashisKingtrucking Ай бұрын

@truckercarlson9081 Ай бұрын

@CashisKingtrucking Can you teach me to import indentured servants from war-torn eastern European countries and get them CDLs?

@jesseofori9840 Ай бұрын

@@truckercarlson9081😂😂😂you know Cash truly hate immigrants, why would you tell him that. Omg

@BR-yj7zq Ай бұрын

Man I love your channel and the information you share

@CashisKingtrucking 29 күн бұрын

Thanks for watching

@viteusthemad Ай бұрын

Got my truck from pedigree after saving in a walk away lease at a different company, walked away use the pedigree truck aka PRIME truck

@tysonpetroff9592 Ай бұрын

In early 2020 I did a lease purchase through Prime inc (Pedigree) after being a company driver for a bit over a year. I did their free CDL school after a year with the company too. 14k down on an 86k Cascadia with 320k miles. Payment was $762 weekly. $126 of that was a maintenance fund that I would and did recoup at the end of my 2.5 year finance period. I was under warranty for 1.5 years. It was an easy entry to truck ownership, and I was allowed to take my truck to a different, 80/20 reefer carrier and make $201,685 with maintenance costs outstanding (nearly 14k) in 2021. The market was better then, but the whole arrangement was great for me. I was also a “work my ass off” type though. 2 months on the road, 1 week home. A couple month-long vacations to Asia sprinkled in though.

@cheapfreighthauler Ай бұрын

Warranties suck

@davidedwards6556 Ай бұрын

This is such great information, thank you from a rookie

@jeffreycoon9634 Ай бұрын

Warranties were great back when you could get the truck back in the same week or two that it got there. Now you’re lucky to get it back in the same month.

@CashisKingtrucking Ай бұрын

Yeah, my experience with warranty has been the waiting game.

@I_RightLane_ Ай бұрын

I got my truck from Lone Mountain. I'll be done with payments next year.

@A_A_Ron_G Ай бұрын

Anyone who leases a truck from the company who is giving them freight is a fool.

@keithmorgan4883 Ай бұрын

I met a dude who did just that and paid off 2 trucks

@cheapfreighthauler Ай бұрын

Business is like trucking, neither care about your feelings

@CashisKingtrucking Ай бұрын

💯

@ThisTruckingLife Ай бұрын

Both lease purchases that I've looked into one I did and then looked into it again later on they all make you pay like six grand to move to a different carrier or they make you pay 10 grand to do your own authority with the lease truck

@banzaii6285 Ай бұрын

Solid advise, especially "if you can't afford the down payment, you can't afford a truck". Most guys fall into the lease purchase because their dreams are bigger than their $. A small percentage pay it off, but it's a hard way to go.

@bjess Ай бұрын

I did the lease purchase from a mega and I would completely agree that it is not a good deal for the driver. However, it did introduce me to owning my business and learning a lot of things you do not even consider as a company driver. I also was able to use the experience to set up my LLC and form my S-Corp. Because I had a new truck there wasn’t any major expenses which allowed me to save 20 cents on every mile driven for about 2.5 years. That said….i turned that truck in and took the Lone Mountain route to get my current truck. I am now free from the Mega and working for a small company on an 80/20 with the only excess charge beyond the 20% is a weekly trailer rent but they cover all maintenance on said trailer. I could not be happier with the path I took and am super confident as I learn this spot market game better I will be in a much better position than I ever have been in trucking. Thanks for the all the videos Cash!

@boycottbigtech Ай бұрын

Currently in my 2nd year of a LP with a mega, payment only $630 per week on a brand new 2024 T680. I agree, there are always options and everyone is different. But in my particular experience, I don’t recall ever thinking that my truck payment is a hindrance to my earnings. And I take 2-3 weeks off after running 2-3 months nonstop. I run hard, but I’m sure others run harder.

@TruckerBear76 Ай бұрын

Crete Carrier has the best purchase program in the industry.

@SnowmanStart500 Ай бұрын

great video you made here ty

@AmexL Ай бұрын

Why can't i see how many likes you get on your videos? Modesty? :) i love your videos Cash.

@timmay2k Ай бұрын

Any pre emission cash truck is a better choice than those throw away trucks.

@DonFonzarelli-uq9yx Ай бұрын

The newer the truck, the better the milage. That is a fact. Hell i love those old cab overs, thrley look cool as hell but i bet they average 5 mpg at the most.

@DonFonzarelli-uq9yx Ай бұрын

Im a company driver 8 + yrs experience, and one great reason to do the mega carrier starting off is not to own thr truck, but to have s corp and all the legal aspects shown to someone with no experience on the business end.

@cheapfreighthauler Ай бұрын

Another thing is watch your loan contracts. I want a simple interest loan with no prepayment penalties. I know a guy who signed up for 27% interest and prepayment penalties equal to the total of the payments. He cannot pay the truck off early to save interest.

@CashisKingtrucking Ай бұрын

Dang 27%. Did he get that loan from me?

@cheapfreighthauler Ай бұрын

@@CashisKingtrucking he may have.

@jeffreycoon9634 Ай бұрын

WOW!!! He wanted a truck mighty bad

@sword-and-shield Ай бұрын

8:20. Always most important

@glennevitt5250 Ай бұрын

Now see you right over that second bunk there is where you sign to go cash is king and neon has a field to it like rock ‘n’ roll🤣🤣🤣🤣🤣🤣🤣😎💯🚛

@mrchurchill3160 17 күн бұрын

I’m doing a LP with a Chicago land company. 2018 KW with 610k miles, $675 x 208wks 😢

@CashisKingtrucking 17 күн бұрын

$140k ? Runaway

@mrchurchill3160 17 күн бұрын

@@CashisKingtrucking I just broke down, water pump went out 🤦‍♂️

@Jetlag2023 13 күн бұрын

Which company you with in Chicago ?

@Jetlag2023 13 күн бұрын

@@mrchurchill3160water pump not so bad,just get it fixed asap

@mrchurchill3160 13 күн бұрын

@@Jetlag2023 $4,200 later 🤦‍♂️

@zi1251 Ай бұрын

I told the story a lot but in short with my brand new truck 23 Kenworth before it left the lot have to put in $6k worth of warranty basically door actuator fuse and someone have to wait six months for warranty to reimburse. Three months later at 30k shift stock was defective took nearly 3 to 4 months to wait for a part almost destroyed me then the following month manufactured defective radiator have to wait a month. The lesson here is brand new truck doesn’t mean you won’t have no Breakdown that’s not true. Oh, and that doesn’t include when they install my apu they pinched the wire and been to connection. Have to call corporate thermal King to have them replace the wire and install. When I lease from the mega carrier when there’s something with my truck that swap me in a loaner truck. With my new truck deal, I learned a hard lesson that commercial loans are very different from personal loans after 30 days. They have a right to take away your truck added stress with the manufacturer defect problem of no fault of my own and by the way lemon laws don’t work on commercial vehicles.

@kodamag-bb2of Ай бұрын

None get out of debt, buy with cash.

@joebarnaskas Ай бұрын

some people need a CHECK UP.....FROM THE NECK UP

@ericcarson973 Ай бұрын

😂😂 right down there

@michaelsorrentino-yp7nb Ай бұрын

Or "None Of The Above"

@lightspeeddan8263 Ай бұрын

Leasing How to fail in trucking 101 Step 1: Lease a brandy new truck

@Eddie-Van-Hammerlane Ай бұрын

You gotta listen to Uncle Cash…just saying

@superoffended6737 Ай бұрын

9k down with 18k in the bank sounds brutally hard.

@michaelglenning5107 Ай бұрын

It's doable with no residence pmt and no family support required.

@DonFonzarelli-uq9yx Ай бұрын

No it isnt. Live out of company truck for 4 years. Have no bills other than car insurance and prepaid cell phone, 35 a month. I saved a couple hundred.

@michaelglenning5107 Ай бұрын

@@DonFonzarelli-uq9yx you should be netting $1,100 to $1,400 weekly. I'm making that at RAPID RESPONSE. From that you pay your expenses. I buy food at DOLLAR TREE, because of individually wrapped items.

@Nihil2005 Ай бұрын

I think it’s 2.5x the monthly payment you need in your bank account. If your monthly payment is $1500, then Loan Mountain needs to see $3750 in your bank account.

@superoffended6737 Ай бұрын

@Nihil2005 really? I heard double the down payment. That would be alot easier.

@HunterPBrown Ай бұрын

Warranties are worthless. Those jerks will fight you on EVERYTHING doing whatever it takes to ensure they don't have to pay. Like insurance. You pay for it, they should do it no matter what, don't care if fraudsters ruin it. If you want warranty, might as well rent a truck from Penske or Ryder and do it that way, that's what I've been doing since my company shut down and went my own way. Do it for six months and then purchase a truck that's mine again.

@adambennett2176 Ай бұрын

@Choward1234 Ай бұрын

While Lone Mountain is a decent company they want $20,000 more for the truck I want than if I went through a dealer and more miles on the truck. $20,000 thats a lot.

@Nihil2005 Ай бұрын

There’s a big inventory of used trucks right now. The ball is in your court right now. Two years ago it wasn’t like that.