Anyone here complete a Lease/Purchase with swift?

If you intend to haul flat, your tractor will need to be equipped with a headache rack. However, I have seen flat-equipped tractors haul vans. Reefers? Haven't seen it, but that doesn't mean it can't happen. There just isn't much reefer work with Swift outside the Northwest HH division and Walmart dedicated. I am temp-control certified and have yet to touch a reefer load for Swift. The only reefer trailer I ever hauled for Swift was a decommissioned unit being returned to Phoenix for sale prep.

I suppose if you are set up to haul all units, you may be tasked with it.

I carry Haz-mat, Tankers and Doubles/Triples on my license for that very reason. It opens me up to more stuff. Even if I never, ever haul a tanker set with ethyl-methyl-badstuff in it for Swift, it doesn't mean I won't do it at a later time.

 

I don't know. I have seen Columbias, T-2000s and a few Volvos, though.

 

I have interviewed several drivers who got involved in leased purchases from carriers. I find that they got into these because they wanted to be an owner operator and they felt this was an easy way to do it. I think they were more in love with the "idea" of being an owner operator than actually doing it. Most of those whom I have interviewed were broke and had bad credit. They got into these programs because they didn't have the credit or discipline to save their money until they could buy a truck. The carrier to whom they leased allowed them to get into a truck without any money and no credit. They apparently never gave much thought to failing or having a contingency plan. They lost everything they put toward buying the truck. Some lost pretty much everything they owned while trying to do one of these programs. It was easy for them to walk away since they didn't really have anything invested. They had poor credit when they started and now they had worse credit, in some cases. Those whom I have spoken considered themselves owner operators, yet they could not operate quite the same as a true owner operator. They could not move their truck to another carrier or haul freight not approved by their carrier. The truck was not even in their name as a lease operator.

The carriers who do these programs usually pay low mileage rates which means that you will more than likely run for less than if you ran on your own authority or leased to a carrier who pays percentage.

You apparently have your mind made up to do a lease purchase with Swift and get into a W900 rather than a more fuel efficient aerodynamic truck. I hope that you will come here and post how you are doing.

 

If you do a lease purchase with Swift and get into flats, you will most likely have to buy a headache rack and all the chains, binders, etc., to do the job. They may finance it for you, but you should be prepared to pay for it yourself. I have not checked prices of headache racks in a while, but I would expect to pay at least $800 for a new headache rack. Some can run over $2,000. Chains, binders, tarps, etc., should run about $2,200-2,500.

 

Same trucks as van drivers can lease just need to get the rack and equipment. Some trucks don't work so well as flatbed trucks though because of their weight. Pro star for instance is not ideal. Gman is right though. You pay for all the equipment and a nice headache rack with actual cabinets will be in the 2k range. You need to try flatbed first though regardless, its not for everyone.

 

Right there is, IMHO, the crux of many of the problems. And not just in this type of endeavor, but marriage comes to mind as well....in love with the "idea"....this type of thinking plagues a lot of young folks...

Several excellent posts (as per your norm), GMAN!

 

I wish you the best. I have seen reefers. The Costco out of IL I believe is reefer, and I think that there is a Wal-Mart acct still, although can not remember. You can see in my signature what truck that I got, after I proved that I could handle. Also, it is not my first time to Lease, but it is here.

 

I like the way you think G/Man.. good advice! Better to pay cash for the truck and build up to newer one. Takes a lot of patience but makes the most sense