Interesting Lease Purchase Worth Looking At

Discussion in 'Lease Purchase Trucking Forum' started by Pahrump, Sep 19, 2014.

  1. Pahrump

    Pahrump Medium Load Member

    Been looking at differesnt lease purchase programs for years, This week I saw one from a company in Kansas is a lot different than others,

    The truck pay is about average $1.40/mile or so,,the price and payments for their new or used tractors are the fairest I have even seen,, they also have a 100% bumper to bumper warranty that you do pay for,, I my self would not like their warranty because I have always done almost all my maintenance but for a first time O/O overall I think that their program is fair and a good driver can make a decent living and end up owning a nice truck after 3 to 5 years.
    Company is called Riverside Transport out of Kansas City, KS. www.riversidetransport.com very well worth checking them out. I would give them an "A" as far as lease purchase deals. Zero down,,no credit check, very good prices on the trucks and a low interest rate,,paid toll, scales they pay the tags and permits,,

    Drive Safe Hospital Food Sucks!
     
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  3. bad-luck

    bad-luck Road Train Member

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    The problem I have with this is $1.40 mile. That is terrible. .. generally your fuel cost is around .66 a mile that leaves you with .74 per mile. Take the maintenance and insurance out and you would be better off being a company driver
     
  4. PoleCrusher

    PoleCrusher Road Train Member

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    And probably forced dispatch, or a "non-forced" forced dispatch...
     
  5. joseph1135

    joseph1135 Papa Murphy

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    $1.40 a mile is almost breaking even.
     
  6. Ubu

    Ubu Road Train Member

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    Yes, its not even $1.40 per mile, there example at http://riversidetransport.com/lease-purchase/ shows $1.353 per mile including FSC and the bonus which they really do not define anywhere I could find.

    The page says $0.90 to $0.94 per mile + a possible $0.04 per mile bonus and FSC. Pretty average if not below average for a lease deal from what I have seen.
     
  7. joseph1135

    joseph1135 Papa Murphy

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    That's no money. Get money together. Buy truck through Lone Mountain. Lease it to FedEx or Landstar. Stop with the lease purchase scam. You're only buying yourself a job.
     
  8. Pahrump

    Pahrump Medium Load Member

    I have always bought and financed the 8 trucks I have owned over the years and ran direct for shippers with my own authority,
    For someone wanting his first truck and has little or no money for a down payment this is a pretty fair deal, The prices for the new and used trucks are pretty good and the interest rates are very good,, I would go for the new truck and after 5 years when the truck is paid for should be no problem selling the truck for good money or running it an other 5 years or more,,The bumper to bumper warranty is a fair deal too,,sure the driver is paying for it at about 7 to 8 cents/mile but what ever the truck needs it is paid for. After 5 years on the new KW680 the truck should be in excellent condition and worth between $70,000 to $80,000. That's worth about $275/week more to the drivers pocket,Unlike leases to companies like landstar where the O/O pays for all insurance, tolls,,scales, QualCom and charges , and licenses, permits as well as many other carriers that charge back a lot of things like landstar, this company offers a lot more.
    I have been told that this company has a waiting list of drivers that want to do a lease purchase,,
    As with many deals it depends a lot on the persons needs or wants,,
    I never leased to a company and for sure for many a lease purchase is not what they would do but as mentioned before over the last 30 years I have examined many lease purchase programs and this is the best and fairest I have ever come across.

    Drive Safe Hospital Food Sucks
     
  9. joseph1135

    joseph1135 Papa Murphy

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    Look at the big picture. There is where the problems are with this fleece.
     
  10. MysticHZ

    MysticHZ Road Train Member

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    It's really no different than Swifts lease ... They charge you $.07 for a bumper to bumper or $175 on 2500 miles or more ... Swifts truck payment is about that much more, but fixed and comes with a bumper to bumper. Swifts FSC is $.05 more then theirs on the $3.88. Swift allows you to control your IFTA and they clip you $.0175 a mile.

    You can make a case for or against either one ... but you're just nipping around the edges.
     
  11. Rooster1291979

    Rooster1291979 Road Train Member

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    If it costs you $1.40 per mile something is wrong.
     
    Steerswithears Thanks this.
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