Many younger drivers who come to us for help and ask this are not even aware of what this phrase means and that is because no one really uses it anymore. It is just an urban legend that they have heard from older drivers and operators who just wanted to show that they worked in tough times.
For us, there is the truth behind the stories as well as they were quite commonly talked about and every company was running their own version. However, some things were the same in all of them. 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!
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 where they would get a carrier’s truck on a sub-lease which they called a ‘company-sponsored truck purchase’. The target was usually desperate drivers 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 which went 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. Some carriers are still operating it under the name of ‘Carrier Lease Purchase,’ but due to new tax laws create by CRA around Drivers Inc., fewer companies are offering these programs due to high penalties that both the owner operator and carrier could face.
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 and already have some other owner operators attached to them.
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 and enjoy the half payments they received. Being solely a finance company, we strongly believe in your success. Since 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.
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.