Tag: lease purchase

Business

Ask Gary: ‘Should I refinance my house to pay off my truck?’

Should you consider refinancing your home to pay off a lease-purchase agreement on your truck? Gary Buchs answers the question on Overdrive.

November 24, 2020

Overdrive Extra

Capture 2020 vision with proactive attention to repair, operating and finance costs

“Successful owners throughout this past difficult year have an established business plan and operating procedures that enable them to be proactive with decision-making.” Also: How one got out from under a budensome lease payment to take title to the truck and reduce fixed financing costs in the bargain.

January 7, 2020

Business

C.R. England to enter into $38M settlement in lawsuit over truck lease agreements

C.R. England has entered into a $37.8 million class action settlement agreement with 17,519 drivers to end a 2011 lawsuit over its independent contractor and truck lease program. The settlement terms await final approval by a federal court.

May 6, 2019

Overdrive Extra

Nearly six months without a paycheck: One lease operator’s story

Year 2018 was shaping up to be the best on record for a Midwest-based lease operator. He had just paid off his 2015 Pete. A breakdown, a cargo claim, an illness and little support from his carrier later, and “all I had left was my word.”

March 5, 2019

Business

Swift reportedly part of flight from owner-operator leasing in California

Trends for trucking fleets with Calif. operations to shy away from leasing owner-operators in Calif. could be in the works at one of the largest truck carriers.

February 22, 2019

Channel 19

Anybody here ‘forced’ to buy their truck?

How has President Trump's tax bill and per-diem change impact your position in the trucking industry? Overdrive wants to know. Read more on Overdrive Online.

February 7, 2019

Business

The California independent contractor crisis: Undermining the owner-operator

The next battle in what some view as a West Coast war on owner-operators has nothing to do with truck emissions. Instead, California’s labor law developments, predatory lease-purchase practices and aggressive union organizing are stirring a legal stew for the independent contractor model in trucking.

February 4, 2019

Overdrive Extra

Time to require good-faith disclosures in lease-purchase agreements?

Owner-op Clifford Petersen asks whether it’s time for an update to the Truth in Leasing regulations to cover good-faith disclosures in lease-purchase contracts: “Maybe it’s time to make a stand and start eliminating predatory practices within our industry.”

January 15, 2019

Overdrive Extra

Killing the ‘viruses and parasites’: How to spot a bad lease-purchase deal

Clifford Petersen offers truckers two rules and three maxims for avoiding bad lease-purchase deals. Check them out on Overdrive.

October 16, 2018

Overdrive Extra

A training suggestion for robust pre-CDL and finishing programs

If companies really want to fix their driver retention issues, offer free and thorough training for pre-CDL training. More information on Overdrive.

August 21, 2018

Overdrive Radio

Toward reinvigorating camaraderie among haulers: Introducing road chaplain, owner-op and Overdrive Extra blogger Clifford Petersen

For regular Overdrive readers, Petersen may need no introduction, as he’s written several blog posts in recent times in which he draws on his experience over a few decades now in and out of trucking. His last time away, though, gave him a new purpose in his approach to the industry and, as he notes, a desire to leave it better than he found it initially.

August 6, 2018

Business

Expediter Services expanding truck-ownership program

Expediter Services works with expedited-trucking companies to enhance capacity solutions and build opportunities through lease-purchase and other buying plans.

July 6, 2018