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9 Reasons not to sign a Lease Purchase
Aug 07, 2021
12
by
Kevin Rutherford

 9 Reasons not to sign a Lease Purchase

 by kevinonxm

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By: Kevin Rutherford

9 Reasons not to
sign a Lease Purchase

DE

If you don't have any money and
you have poor credit, you are
not ready to start a business!

Reason # 9

1

2

Reason # 8

You don't want to lease your
equipment from
the same company
that controls your income

3

Reason # 7

You don't "own" the truck, you
are only renting it. This limits
your ability to modify the truck
or to take it to another carrier.

4

Reason # 6

You will end up paying more than you should for a truck with specs you didn't choose.

5

Reason # 5

They'll kill you with escrow accounts
and holdbacks. Your money will be tied
up and you won't have access to it.

6

Reason # 4

Your balloon payment will
likely be more than the
truck is worth at the time.

The failure rate on lease
purchase trucks is over 80%.

Reason # 3

7

8

Reason # 2

You could LOSE every penny and every
bit of sweat equity in your truck.
Most LP deals can be cancelled at
anytime by either party.

9

The biggest reason.

You want the pride of knowing
you did the "hard work" and
this business and this truck
is yours, not just on temporary loan.

9 Reasons not to sign a Lease Purchase
Kevin Rutherford
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