FMCSA Probes Lease Purchase Deals

Insiders: Navigating the road to truck ownership? Confusing lease purchase agreements can throw a wrench in your plans. We've got the latest on the FMCSA's investigation and how it might help. Cargo theft a concern? Learn the red flags of double broker scams and protect your interests. Keep reading for more. - Bianca Prieto, Editor

Inside today's newsletter

🔷 Fresh opposition to EPA truck emission rules.
🔷 61% of truckers expect stable or positive income in 2024.
🔷 How to spot double-brokering ‘red flags’.
🔷 Why is Love’s numbering its parking spaces?
🔷 Parts and labor rates fall 1.7% during Q1 2024.

Lease purchase agreements: Fair Deal or Financial Trap? 

Lease-purchase agreements, a popular path to truck ownership, are under scrutiny by the FMCSA's Truck Leasing Task Force. While some see them as a win-win for aspiring entrepreneurs, others fear they lock drivers into debt.

The debate rages on. Carriers promote these agreements as ownership opportunities, but drivers often express concerns about financial burdens and unfair contracts.

The task force seeks more clarity. Their next move? Analyzing contracts submitted by industry players at a meeting slated for July 18. Examining these real-world agreements, both good and bad, will be crucial. Will revisions or even a ban be needed to create a fairer trucking landscape?

Read more on Overdrive.

• WE’RE JAMMING: New York tops global congestion index.
• NUMBERS GAME: Why Love’s is numbering its parking spaces.
• SLOW PROGRESS: 900,000lb ‘superload’ could disrupt Ohio roads.
• IN SERVICE: Parts and labor rates fell 1.7% during Q1 2024.

EPA truck emission rules come under fire (again)
The EPA's fight for cleaner air faces renewed opposition. A group of 150 Republican lawmakers have ignited the debate, demanding the withdrawal of the agency's new truck emission rules. These regulations, they argue, unfairly burden truckers and other industries reliant on heavy-duty vehicles.  Is this just political posturing, or could the rules be modified? The pressure is on. While details remain unclear, the lawmakers' demands raise questions about the future of the EPA's emission standards. Will compromises be reached, or will the fight for cleaner trucks hit a roadblock?  (Land Line)

Truckers predict stable or positive income for 2024
Even with profit margins feeling the pinch, truckers remain surprisingly optimistic. A CCJ survey found over half (61%) expect similar or better earnings compared to 2023. This sentiment is strongest among company drivers, with a quarter anticipating a pay raise versus just 15% of owner-operators. Can this optimism hold, or will economic realities catch up? (Commercial Carrier Journal)

Can you spot the 'red flags' of double-broker fraudsters?
Double-brokering, once a regional headache, has exploded into a top cargo theft threat nationwide. Experts urge carriers to be vigilant. Watch out for red flags like international calls, undersized fleets for the load, and suspicious inspection locations. Incident rates are soaring, so staying alert could be the difference between a smooth delivery and a stolen shipment. (FreightWaves)

• Women in Trucking
• FMCSA Grants Resource Cente-
• How to build your electrification strategy*
• Fleet spending snapshot*
• Discover key trends shaping the future of physical operations*

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Thanks for reading today's edition of The Inside Lane! Want more info? Check out our most-read exclusive news stories:

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