QuestionHello again Tony. He DID mention on the phone that they wouldn't be able to provide some certain bonus money after this Thursday. Concerning consulting an attorney about the lease purchase agreement-Shouldn't "Refrigerated Transport Express" allow me a certain amount of time for the attorney to view the contract to "see if there's an escape clause"? I think they wanted me to go out tomorrow night. Thanks again. Mike Eidson -------------------------
Followup To
Question -
Hello Tony,
I am asking for some quick help on a matter. An OWNER OPERATOR company named "Refrigerated Transport Express" called here, expressing they would set me up as an owner operator hauling refrigerated goods to retail grocery stores within 350 mi. radius of Nashville, TN...said they had NEW contracts with 28 more stores. Dedicated run with around 3 drops per night; all palletized. Leave 9:00 p.m./home by 7 to 9A next morning, plus weekends off...Just what I've been looking for..IF it's LEGIT! Said I could leave the tractor at their terminal every day...also, fuel card provided and stickers starting out.
They said run should GROSS around $2800.00 per week and I'd have no down payment. I'm supposed to go to their office between 1 and 2 tomorrow afternoon and talk.
If he is LEGIT, it sounds like some hot contracts they're trying to fill fast or they might lose them. Maybe they can't get enough regular OWNER OPS to run at night.
Can you tell me from your own experience, 1st hand or otherwise, anything I should be aware of before lease purchasing a truck through these people? How will I know if they are honest, and how do I keep from getting skinned? Is there any thing they might offer or say where I'd KNOW for sure to scat out of there?
I'd appreciate a reply A.S.A.P., as this may save me from getting really burnt or passing up a good opportunity tomorrow.
Their website I am told is "Internet Transport Industries". I'm going to try and go there now and do some research.
Thank you so much for any advise!
Sincerely,
Michael D. Eidson
Answer -
Michael,
Error on the side of caution! They could be legitimate, just make sure you understand what happens if you lose your promised run/route or if it is reduced. How would that affect your lease purchase? Before I would sign anything I would spent the money and have an attorney look at the contract. A contract attorney may cost you between $100 & $300.00 to take a look at it and give you advise. Beleive me when I tell you that it is worth the money. It sound as if you might have some doubts yourself and that might be the best barometer but don't sell your self short find out what is involved and have an attorney look at the contract. I hope this helps.
Tony Gonzalez
AnswerMichael,
If thursday is the dead line ask for a copy of the contract and try to see an attorney before then. If you can't get in to see an attorney before Thursday you will have to rely on your best judgement. Read the entire contract make a copy of it and circle any parts that you don't understand and ask questions about it. You may also want to talk to current OWNER OPS that work for them and get the inside scoop.
Call a couple of law firms and explain to them that you only have a couple of days and need someone to review a contract ASAP and give advise or explain what your liabilities are. You may be able to fax the contract to them or drop it off and have a consultation over the phone.
Also check the consumer protection and better business to see if there have been any complaints against the company.
What's the company's financial position?
How many OWNER OPS do they employ?
How many customers do they have?
Are they a privately held company or are they a publically traded company?
If publically traded company how has their stock traded in the past year?
Find out as much as you can about them!
Again, talking to OWNER OPS that currently work for them would probably be your best source of info.
Good Luck to you!
Tony Gonzalez
