Time to LEASE PURCHASE

[Music] my question to you is should you be a lease purchase truck driver you might be surprised at my answer stay tuned right here on life after trucking good morning truckers and trucking enthusiasts Indiana Jack here yes I'm in a Volvo this morning we are moving some trailers around and sitting in this truck waiting for it to warm up we have a black 2015 Volvo and I'll be moving this trailer down to the lower lot to be worked on alright we're all hooked up hooked up with this trailer and let's get it moved down there all right let's get her unhooked and I've got a story to tell you about this very trailer it has some nice tires on it the reason I remember some of these things give idli is that mud flapped that mud flap I replaced in El Paso on a trip that you guys were on with me so that's just interesting to see the evolution of a trailer once it's not your trailer anymore but this is what I want to show you follow me to the fuel tank not of the truck of the trailer what I was gonna tell you is this guy who was pulling this trailer recently he brings this trailer in to us with the fuel tank held up by a bungee cord the fuel tank now the other side the strap on the other side when I had this trailer he'd broke off and I went to utility and we put a new one on cost me about a hundred bucks or something like that but this one was fine well eventually now with this one broke up broke off and a guy was driving this on the freeway with just a bungee cord holding up this side it baffles my mind he he's not driving with us anymore but don't do something like that drivers can you imagine if that would have fallen off in traffic don't do things like that alright let's unhook get on their way out of here glad you're riding along with me today I'm Indiana Jack I appreciate you being here some of you don't know what a lease-purchase truck driver is and for those of you that don't I'll explain it to you it's an area of trucking where if you don't own the truck and you have a dream of owning the truck and you want to be a truck driver and own a business of truck driving many trucking companies will sell you one of their trucks so you can drive it and pay it off slowly as you're trying to drive and pay off the truck and as well as make a living at home and support yourself and your wife and your kids and all kind of things like that one thing that the recruiters who lease you a truck they don't explain that it's very very difficult to lease purchase a truck I did it with my first truck old red and if you've watched this show for the past ten years you know that but it was one of the hardest things that I've ever done in my life because all of your money all of your time all of your efforts go into lease purchase of a truck so you don't have money to do all the other things like rent car payments and all kinds of things like that so my question to you is and it's not even a question it's a comment before you even think about purchasing a truck like this with a carrier make sure you have at minimum five to ten thousand dollars in the bank before you lease purchase a truck you know why because it's gonna take you that much money to survive during the ups and downs of trucking they don't explain that to you I am explaining that to you now I all have always said that that you have to have some cash some capital in the bank to open up a business you should not have your last 200 dollars in your pocket before you go trucking with a lease purchase truck because you will fail because it's an up and down business you may ask yourself and others why do you need to have $10,000 in the bank one reason is your first breakdown if you let's say are least purchasing a brand new truck it doesn't matter if it's a brand new truck or a five year old truck it's gonna break down and a truck can break down and it will cost at minimum five to ten thousand dollars just for the breakdown that's why you have to have money in savings now that's just the mechanical part of the breakdown then there's maybe the cost of the tow truck and the cost of the hotel and the cost of the revenue that you're losing a lot of people that lease purchase a truck they're usually younger they have poor credit they are not experienced at business and they lease a truck and they don't have any money in the bank and then they break down and then they're they lose their business they lose their shirts because they didn't have money to start out with so make sure you have some working capital before you decide to lease a truck or buy a truck and get your own financing from a bank if you're gonna go you know open your business that way and that's what I'll explain next [Music] [Music] [Applause] [Music] when I'm not out in the truck on the road I like to be at home and working on my boat spending time out on the water that's what life's really about having the balance between the two at the end of the day you can find me watching adventures and truckers within the energetic state air [Music] we have two trucks left black one and a white one black mobile that I just got out of in that white Pete so we're doing pretty good I have a question for you did your company switch over to e l DS you know that's coming up in December we switched early we switched on November 1st and we're getting a lot of violations from drivers it's just almost impossible to drive a truck under five miles an hour it's almost impossible I've had to do it before and it's not my favorite thing so I imagine when everyone switches over in December it's gonna be massive hysteria with the d-o-t anyway because there's gonna be so many violations they're actually gonna like it because they can write a lot more tickets but for us drivers it's very difficult and I'm not saying that some things in life aren't difficult but driving a truck under five miles an hour across a truck stop parking lot is very difficult to do and that's one of the things that we're finding it hard about being on real eld is instead of our DS which we've been on since well for the last two years so anyway I'd be interested to hear what your comments are on driving under the eld rule that just came out this year that's going in effect in December good morning it's another day and one of my job's is to make sure all the trucks that are on the yard there's these two anyway start every morning and that's that's what I do I start them up in the morning let them run let them idle so the batteries don't go dead and so we're starting up old black here Lackey and it's going to be a good day it's cold out the winter is definitely here good morning again if I have this truck I would not have the eld there I would drill a hole up there run the cord through the top and have it more on the dashboard down down on the dashboard I like having that cup holder not cup holder but sandwich holder look how many sandwiches did you guys you know you and I have been where the sandwich was in that very holder there I would have to insist it that that eld not be placed there where do you put your eld all right we're in the Pete now warming it up and charging the batteries definitely Pete's have a better entertainment system or whatever you want to call it their software is much better than Volvo I really like playing around with this with this screen and all of the different things that that their software does and how it communicates with you and the truck well done Peterbilt and this is a 2013 so the newer ones in fact I'm going to be reviewing more Peterbilts so we'll check out the software in the newer Peterbilt for reviews that are coming up really soon and see how that software is in the newer ones I'll be anxious to see that do you have a Peterbilt and do you like another option for you other than leasing a truck from a carrier if you want to open up your trucking business other than having the five to ten thousand dollars in the bank has savings go to your own bank your own credit union whoever will finance you and buy your truck that way once you expect your truck out and find out the kind of truck that you want to buy make sure you have all your ducks in a row get your truck and then lease on to a carrier although you should probably know what carrier you're gonna lease on to before you buy your truck it would be good to know that before you buy it if you're stubborn and want to go against the grain kind of like what I did everyone told me it could not be done and that I could not successfully purchase my truck from Knight this was back in 2008 because they told that to me I wanted to prove them wrong and I paid them off but it was not easy it was very very difficult as I've said many times today in this video so think long and hard do you want to take that road of not having a home not having car payments not having all the comforts of home because you're paying for your truck for that whole lease period then when you get that all paid off then it's easy to go out the easier to go out there and truck because you have a paid off truck and so you have it your tool for your trade at that point but boy it's hard to get there these are just some suggestions that I have about leasing a truck and is it right for you now this story doesn't really have anything to do with truck drivers bust on trucker talk radio which you know I'm a fan of it's talked about quite a bit at least once a month I hear a story about moon pies moon pies yes moon pies of this little pie that you can buy that's made right here in Chattanooga and they have a store here that sells moon pies that's because the factory for moon pies is made right here in Chattanooga and the reason truckers talk about it is because there's a couple of billboards on 24 between Chattanooga and Nashville and you'll see those billboards in so you want to talk about it now you could stop here in Chattanooga there's a pilot not too far from here and uber down here to downtown Chattanooga and check out this moon pie store let's check it out [Music] [Music] [Music] of course there's more to see here other than just moonpies some of the old favorites are here places we all like to go as tourists or just to visit a place like this it's kind of interesting being in a downtown setting like this now if you really have a sweet tooth you can come right across the street to something that's a little bit different too cupcake kitchen a friend of mine totally recommended these cupcakes [Music] [Music] the cupcakes are not keto friendly so if you're on keto or if you're a type-2 diabetic not not a good place to go just a mile or two away is where they actually make the moon pies at a company called Chattanooga bakeries right here in Chattanooga and we're here where there's even trucks waiting to be loaded with moon pies I assume and then they'll go to various distribution sites all around the country I'm sure some of you drivers will have stories about that we'd love to hear that if you actually drive drive moon pies around the country that would be interesting to us as truck drivers so this is the interesting place where they actually make the moon pies and then looks like doing a warehouse and distribute them here also well this is Indiana Jack thanks for riding along on our mini trip of downtown Chattanooga where you can as a truck driver come down here and enjoy some of these sights if you have some time you might as well do it better than sitting at a truck stop we'll see you next time [Music] when I begin [Music] give me that give me that give give give me that isn't that a song I remember hearing that I can't remember where it's from I think it is a song but that's not what I'm referring to I'm referring to debt solutions or trucker's edge the software we've all heard of it remember when in the olden days when you'd go into a truck stop and you'd see on the wall that dat board I remember it distinctly there's still remnants of those out there well the new debt or a new trucker solution or a way to look for load is all on your phone or through a computer I've made videos about this before they're the folks there are offering you and I 30 days free if you go there and check out their site maybe you just started your own trucking company maybe you have your own authority maybe you're a broker whatever the whatever you have if you need loads or if you need to post a load that solutions or truckers edge is the way to go if you do it right here on our site I'll put a link right in the notes to this video do it there you'll get 30 days free everybody likes free I'm Indiana Jack go over and check out our friends at debt software debt solutions truckers edge whatever you want to call them a great way to find a load gimme that gimme dat give me give me give me give me give me that so if you get anything out of this video it's make sure you have a lot of money in savings because it's gonna take you a lot of money to finish paying off the truck it's going to just take a lot of effort you will have no life no social life nothing because your whole life is devoted to paying off that truck you can do it if you want to but don't blame anyone else if you fail because you're hearing it right here on life after trucking I'm Indiana Jack thanks for watching sorry to sound a little negative but I wanted you to know the facts ahead of time and not be disappointed when you find out you don't have any money and you have to believe and go to another carrier because you can't afford it we'll see you next time [Music] [Applause]

Channel: indianajacktrucker

Views: 38,469

Rating: 4.8744278 out of 5

Keywords: Indiana Jack, Lease Purchase, Truck Lease, Trucking Videos, Trucker Videos, Cup Cakes, Moonpies, Chattanooga, Big Rig Videos, Trucking Industry, Trucking Logs, ELDs, ABORDs

Id: BgOUU0DkwEw

Length: 21min 9sec (1269 seconds)

Published: Mon Nov 11 2019