{"id":18178,"date":"2025-01-24T02:10:39","date_gmt":"2025-01-24T02:10:39","guid":{"rendered":"https:\/\/pro-truckdrivers.com\/blog\/the-feds-just-announced-all-lease-purchase-deals-should-be-banned-truckersreport-com-trucking-forum\/"},"modified":"2025-01-24T02:10:39","modified_gmt":"2025-01-24T02:10:39","slug":"the-feds-just-announced-all-lease-purchase-deals-should-be-banned-truckersreport-com-trucking-forum","status":"publish","type":"post","link":"https:\/\/pro-truckdrivers.com\/blog\/the-feds-just-announced-all-lease-purchase-deals-should-be-banned-truckersreport-com-trucking-forum\/","title":{"rendered":"The Feds Just Announced All Lease Purchase Deals Should Be Banned | TruckersReport.com Trucking Forum"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<p>\t\t\t\t\tCredit CDL Life for reporting this&#8230;.. Here is the info<\/p>\n<p>A committee assembled by the Federal Motor Carrier Safety Administration (FMCSA) recently submitted a final report suggesting truck lease-purchase programs \u201ccause widespread harm\u201d and should not be permitted.<\/p>\n<p>The eight-member <a href=\"https:\/\/cdllife.com\/2023\/new-fmcsa-task-force-to-fight-back-against-predatory-truck-leasing\/\" target=\"_blank\" class=\"externalLink\" rel=\"nofollow noopener\">Truck Leasing Task Force (TLTF) Advisory Board was formed in 2023<\/a> under FMCSA oversight. The TLTF was asked to study the impact of common truck leasing arrangements on owner-operators and trucking businesses.<\/p>\n<p>On January 16, 2025, the TLTF submitted a <a href=\"https:\/\/www.fmcsa.dot.gov\/sites\/fmcsa.dot.gov\/files\/2025-01\/TLTF%20Cover%20and%20Enclosure%20FINAL%201-16-25.pdf\" target=\"_blank\" class=\"externalLink\" rel=\"nofollow noopener\">final report<\/a> to federal authorities suggesting that lease-purchase programs are harmful to truck drivers and should be banned by Congress.<br \/><span style=\"font-size: 18px\"><b>Task Force: Lease-Purchase Programs Enrich Carriers At Expense Of Drivers<\/b><\/span><br \/>The TLTF stated that most truckers sign on to a 3 to 5 year lease agreement, but that \u201cfew drivers survive financially until the end of a lease-purchase contract term.\u201d In fact, the TLTF pointed to data suggesting that \u201cless than 1 in 100 drivers who participate in a lease-purchase end up owning the truck.\u201d<\/p>\n<p>The committee also looked to negative feedback from the trucking community and industry stakeholders, as well as TLTF-reviewed data, which showed that \u201clease-purchase programs cause widespread harm without offering meaningful scale opportunities for truck and small business ownership.\u201d<\/p>\n<p>According to the TLTF, lease-purchase programs exploit truck drivers to benefit motor carriers without many options for recourse for the drivers who are financially harmed:<br \/>\u201c<i>TLTF\u2019s findings are clear. It formed a consensus to recommend that such arrangements, whereby a motor carrier controls the work, compensation, and debts of the driver, should be prohibited. Lease-purchase programs are regularly established to enrich motor carriers at the expense of drivers. These programs promote a race-to-the-bottom in driver compensation and treatment, pushing qualified drivers out of the profession. Currently there are no effective checks on these programs or remedies for drivers harmed by them.<\/i>\u201c<\/p>\n<p><span style=\"font-size: 18px\"><b>TLTF: Congress Should Ban CMV Lease-Purchase Agreements<\/b><\/span><br \/>The TLTF ultimately called on authorities to act to ban lease-purchase programs in order to protect truckers:<\/p>\n<p>\u201c<i>Congress should ban CMV lease-purchase agreements as irredeemable tools of fraud and driver oppression that threaten a safe national transportation system and diminish the number of truck drivers attracted to and who stay in the trucking industry. Such a prohibition would be the most efficient and effective remedy to stop the damage created by lease-purchase programs.<\/i>\u201c<\/p>\n<p>What do you think? Do you think a lease purchase is a bad thing?  Chime in drivers!\n\t\t\t\t\t<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><script>\n\t!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n\t\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;\n\t\tn.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;\n\t\tt.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,\n\t\tdocument,'script','https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n\tfbq('dataProcessingOptions', []);\n\tfbq('init', '1812746315680142'); \/\/ Insert your pixel ID here.\n\t\t\t\tfbq('track', 'PageView');\n\t\t<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.thetruckersreport.com\/truckingindustryforum\/threads\/the-feds-just-announced-all-lease-purchase-deals-should-be-banned.2519613\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Credit CDL Life for reporting this&#8230;.. Here is the info A committee assembled by the Federal Motor Carrier Safety Administration (FMCSA) recently submitted a final report suggesting truck lease-purchase programs \u201ccause widespread harm\u201d and should not be permitted. The eight-member Truck Leasing Task Force (TLTF) Advisory Board was formed in 2023 under FMCSA oversight. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":18179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-weather"],"_links":{"self":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts\/18178"}],"collection":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/comments?post=18178"}],"version-history":[{"count":0,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/posts\/18178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/media\/18179"}],"wp:attachment":[{"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/media?parent=18178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/categories?post=18178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pro-truckdrivers.com\/blog\/wp-json\/wp\/v2\/tags?post=18178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}