A friend bought a new KW 680 2 months ago,,,leased to CEVA as a team after 2 weeks of 250/day team runs he switched to Forward Air.
Always interested in carriers and their programs I looked at their website, learned that they are very actively seeking lease purchase operators.
I sent them an email asking about their LP program,,could not believe what they sent me.
They are offering 2012 used International tractors most likely with about 500,000 miles or more 9spd trans.
Figured the 2012 used International trucks were only worth retail between $40k and a max $55K. Trade in value is about $25,000-$30,000
Their no down 60 months lease purchase was $420/week,,
after 60 months the higher value $55K price of the truck comes out to over $109,000 to pay it off..Best I can figure the finance charge comes out to 33% APR interest on the loan,,
Below is what they emailed me,,very low paying company with loan shark interest rates.
I hauled brokered Air Freight back in 1993 and got $2/mile
>FOrward is the largest air freight carrier in the world!
> *Has the highest paid professional owner operators in the industry!
> *Offers only terminal to terminal line haul runs with predictable home
> time!
> *Manages to ensure you keep running by operating on a drop & hook system!
> *Allows good people the opportunity to be owner operators with a ZERO down
> lease purchase!
> *Pays the highest FSC in the air freight industry!
>
> That's right, we make available to you a ZERO down Lease Purchase
> opportunity (pics below) that makes sense for those interested in running a
> terminal to terminal line haul operation for the largest air freight carrier
> in the country. Largest means most amount of freight = always running!!!!
>
> Simple to qualify also! Simply have one (1) year recent multi-state OTR
> driving experience and have hazmat (or at least receipt from fingerprint
> background needed to complete before obtaining hazmat endorsement) in order
> to qualify for LP Program. Lease Purchase Trucks are 2012 International and
> are $420 week for 60 months (NO BALLOON).
>
> Will be running lightweight (18-26k avg load) LTL division (info attached),
> 99% drop and hook, and can expect to average 2700 miles per week. Starting
> pay is $.93 per mile + FSC ($.47 per mile this week (7/21/2014). Simple math
> here folks! 2700 miles avg X $1.40 per mile = $3,780.00 gross weekly!
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Forward air lease purchase
Discussion in 'Lease Purchase Trucking Forum' started by Pahrump, Sep 2, 2014.
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