Communication is the key to successful truck lease-purchase agreements, like for any other deal. The agreements always have an area of concern. They may sound simple, but they always fail where there is no proper communication. Both the carriers and the drivers must agree on a sustainable lease repayment to make the deal a success. That's how you would tell that both care for each other.
Communication and the truck lease-purchase agreements
In a meeting in Las Vegas, Sheri Aaberg was straightforward in delivering her speech on some key points. She pointed out that over the years, the lease-purchase program had been negatively viewed. In a lease-purchase agreement, the drivers drive the carriers' trucks for the carriers, hoping that they would buy them at the end of the contract. Open communication is the key to the success of such contracts.
As reported by Freight Waves, Aaberg stated that the arrangement is not as simple as it sounds. At the end of most deals, the lessees end up unhappy. They run to social media to call out the lessors by name and tarnish their reputations. They often claim that the lessor ripped them off in one way or another. However, all the trouble could be avoided through proper communication and understanding before signing the contract.
Communication was the most significant and main agenda of the meeting. An audience member stated that all they want is transparency. Another one said that the lessor must ensure that the drivers can fulfill their end of the deal and pay up. Just signing the contracts is not sufficient; therefore, lessors must assess all customers fully.
What is success for both parties?
Communication involves both sides wishing each other the best of luck. Defining success depends on how someone views the agreement. An audience member pointed out that when a lessee pays off the lease, the carriers take pride and post photos. However, that doesn't always mean that the lessee wins. Therefore, every part of the deal defines success by how they come out of the agreement.
Another audience member noted that some drivers return the trucks at the end of the lease and apply for new leases. Aaberg noted that once trucks age and pile up mileage, they become hard to attract potential owners. Operators should manage their accounts for assurance of trust from the carriers.
Communication leads to a clear understanding for all people involved in any deal. They must come up with a cash flow model before signing off any documents. Negative administrative and cost implications wouldn't be an issue in cases where all details are straightforward. Each party must care for the other; in so doing, all parties stand to benefit.
