HomeOwner OperatorAre Predatory leasing schemes rampant in the trucking industry?

Are Predatory leasing schemes rampant in the trucking industry?

Many aspiring owner-operators are lured into leasing schemes that sound good at first but end up being a nightmare for many leasers especially for those that don’t read the fine print and just take the mega carriers word for it.

Today many aspiring owner-operators are lured into the industry by YouTubers and online Trucking Forum threads that claim to be making bucket loads of cash with a leased truck.

westword.com Did a news piece on the leasing racket in the trucking industry. It paints a bleak picture for those that are lured into leasing by dreams of making big money in the trucking industry via a truck leasing deal.

Glover won driver-of-the-month awards from CFI while being dinged by Pathway for excessive mileage. He grossed nearly $200,000 a year but took home around $30,000.

The evidence presented to the court showed “a very close relationship” between Pathway and CFI in administering the leases. Emails and other documents showed close coordination between the companies on matters ranging from what trucks to offer for lease to how to structure the deals and whether certain drivers were good risks for promissory notes.

How Lease Deals Have Truckers Hauling a Load of Debt – read more at westword.com

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