Lease Purchase Programs: Fill & Download for Free

Years ago, I was interviewing with a trucking company. The recruiter was trying to push their lease purchase program on me. Giving in to that is like giving them license to screw you big time. Lease purchase is a huge scam. I told him that I just wanted to be a company driver. This jackass didn't seem to get it. He brought it up 3 or 4 more times during the interview. I finally had enough. I told him, “Obviously you're looking for lease purchase operators. That's not me. I just want to be a company driver. I don't want to pay you to drive your truck. I know with this lease purchase thing all you are is a company driver with a truck payment. Thank you for the interview. Good bye.” I don't know how these companies get away with it. When you lease purchase, you drive a truck that they actually own. You make a weekly payment to them. On top of that, you pay for the truck expenses. Then the miles get softer. They starve you out until you can't make the payment. Then you're booted out of the truck and it's on to the next sucker. No thank you.

Whereas LLP stands for Limited Liability Partnership, LPP has no define standing in accounts and can refer to anything depending on the context at hand, for instance; Last Price Paid, Loan Payment Plan, Lease Purchase Program, Last Purchase Price, Late Payment Penalty and may more.

So you mean like a lease-to-purchase program?Example: Renter has bad credit and can't qualify for a loan.Renter enters into a lease/purchase program.Renter pays MORE than fair rent each month and that additional amount over and above fair market rent goes into a special account that will hopefully, eventually become the renter's downpayment.Yes?If that is the answer, run as fast as you can away from these schemes.If you are not able to qualify for a mortgage loan at today's fantastic interest rates and generous lending terms...meaning, if your credit score is so bad that you can't even get an FHA loan, chances are you will not miraculously start paying your bills on time. People don't change. With some very minor exceptions. You'll only end up defaulting on the lease and you'll lose all the money for the downpayment as it will go to the real homeowner if you default.Lease purchase programs are good for no one except the seller. Who will keep that money when you default.Still not convinced? Take some money, hire a real estate attorney for one hour to explain the legal contract you're holding in your hand. You are not so smart. Someone is trying to take advantage of you. An attorney that you hire (NOT the seller's attorney!!!) will help you understand that legal contract. Find your local state's BAR association and get a referral to a local, real estate attorney. Good luck!