The Never-Never Program?

We have helped many drivers start their own owner operator business. Regardless of this, someone eventually asks us, “is this a never-never program”? 

What is worse is that many of these individuals also claim on social media that our financing is a never-never program. They say this with no proof and often with no idea of how PowerLease operates!
Ernie Holmes - VP, PowerLease Program
Ernie Holmes – Vice President, PowerLease Program
Is it Real?
Many younger drivers who come to us for help are not even aware of what this phrase means because no one really uses it anymore. It is just an urban legend perpetuated by older operators who just wanted to show that they worked in tough times.
These stories were quite commonly talked about and every company was running their own version. However, some things were the same in all of them. For instance, ‘owning a truck was impossible, there was no money being made, the loads you got were always bad’, and ‘you just had to keep going until your last breath!’
What You Could Expect in a Never-Never Program 

Here is what you could expect in a never-never program:

A naïve driver would be convinced by a carrier to start working as an owner operator. There, they would get a carrier’s truck on a sub-lease which they called a ‘company-sponsored truck purchase’. In addition, carriers usually targeted drivers already desperate who were then forced into running unwanted loads to unwanted destinations. They had to work extremely hard constantly with the fear of losing their truck if they did not continue working like that. Many of these guys lost absolutely everything before they got rid of the truck. The truck would go right back to the carrier who would enjoy the profits and give the truck to someone else again.

Thankfully, things changed as better programs came out and this program got the end it had coming. However, some carriers are still operating it under the name of ‘Carrier Lease Purchase.’ Due to new tax laws create by CRA around Drivers Inc., fewer companies are offering these programs. This is because of the high penalties that both the owner operator and carrier could face.
Never-Never Programs as a Thing of the Past

Never-never programs from the past had no problem with owner-operators failing with some even convinced that they made it happen by force. Once the owner operator had failed to meet the demands and handed the truck back, they would simply put it back on the road. Then the carriers could enjoy the half payments they received. Being solely a finance company, we strongly believe in your success. We cannot take the truck back from you and hand it over to another driver like a carrier. We want you to be able to make those payments. Your failure would be our failure.

The Difference With PowerLease
As an independent company that only deals in truck financing, PowerLease focuses on getting trucks to new owner operators with zero down payment. We help them get a job with one of our approved carriers who we know are good.
You are also independent to choose what loads and destinations suit you best since we are not your carrier. You can also choose the number of hours and days you can work comfortably and there would be no threat to your lease from us.
The desirable outcome for us is to see you succeed, make full payment, and become the truck’s owner. This way, you will come back to use for your future truck purchases and the ones who supported you when you started off as an owner operator.
There are hundreds of owner operators out there who caught their break by choosing us as their financier. Try us out and see if we can do the same for you too

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