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From Lease Purchase to True Truck Ownership
For Drivers looking to become Owners, the Lease Purchase agreement has been a staple of the trucking industry for over a decade. Although these agreements are often risky and fraught with the potential of abuse for the Driver, the low barrier to entry with little to no down payment, no credit requirements and minimum start up costs make these offers attractive to many potential owners. Even though lease purchases have been easy to get into, the structuring of these agreements are stacked against the leasee.
Finally, there’s a solution to the perils of the Lease Purchase agreement that offers TRUE TRUCK OWNERSHIP. It’s called the Much Better Alternative (MBA) to truck finance utilizing the Expediter Services Path to Ownership (PTO). Just ask Steve Wilson, a seasoned contractor who recently got his MBA and put his PTO in high-gear to purchase his own truck.
Steve Wilson’s Journey to True Truck Ownership
SLN: Give us some background on your experience in the industry?
I’ve been a truck driver for ten years and an Expediter, signed on with Panther as my Carrier for the past eight years. I’ve thoroughly enjoyed every minute of my career in Expediting because you never know what the next load may be or where it might take you. Thankfully I got associated with a good motor carrier like Panther at the start and our relationship has been very fruitful.
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