Leasing from Penske?

Discussion in 'Lease Purchase Trucking Forum' started by Verdel, Jul 15, 2015.

  1. Verdel

    Verdel Medium Load Member

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    I am running under my authority with my own truck. The truck is getting older and soon I have to decide to buy a new one. In the mean time can I lease a truck from Penske, to make up my mind. I have seen many companies running trucks from Penske or Ryder.

    If I am running around 10k miles a month, what is better? To lease or rent?
     
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  3. Cat sdp

    Cat sdp . .

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    Have you checked their prices..? Ryder is pretty expensive . So much a week and milage bla bla bla. I couldn't swing it.
     
  4. bigred81

    bigred81 Medium Load Member

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    Leasing is complicated, what's included, maintenance, repairs, tires, brakes, replacement if the truck is in the shop, wear and tear, etc.? A company I worked for leased everything from Ford vans to Freightliner road tractors from Penske. They were able to close their shop and free up capital, but what kind of deal they get versus what a trucker would get I can't speak to, but I was impressed with how well Penske maintained the trucks.
     
  5. jbatmick

    jbatmick Road Train Member

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    Huge difference in a company leasing 100 or even 10 trucks and you leasing one. I doubt you could afford to run a leased truck and make money.
    I have bought used Penske equipment and would do so again.
     
    bigred81 Thanks this.
  6. Verdel

    Verdel Medium Load Member

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    Penske is NO, NO. For 1 month rent of a sleeper truck, they want $4117 + $0.18 per mile. If I run 10k miles the bill will be to $5917. I will survive, but they will be making more money than my self.
     
    bigred81 Thanks this.
  7. unloader

    unloader Road Train Member

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    Good lord! Talk about poking your eyes out on that one. That's insane.

    unloader
     
  8. freightwipper

    freightwipper Road Train Member

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    wow.....................
     
  9. markt1993

    markt1993 Bobtail Member

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    Leasing is way cheaper than renting, almost 50% less. I have one tractor and two straight trucks leased through Penske. I was worried about the cost, but now I'm not sure if I'll buy another truck.
    On one hand it sucks because you always have a truck payment, but that's about the only negative I can think of. They take care of the taxes, IFTA, tags, free washes, they call or email me when they are due for PM's which are free. I don't pay for anything other than fuel. The tractor had Continental tire's, with about 10,000 miles they started causing a vibration, no questions asked they put a brand new full set of michelins on it. And then you get the 24 hour roadside for breakdowns, also free. Peace of mind is very nice.
     
  10. bigred81

    bigred81 Medium Load Member

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    Did you spec out your trucks or are they just the usual Penske ISX 450, 10 speed?
     
  11. markt1993

    markt1993 Bobtail Member

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    It's a Freightliner, but I went in and sat with the guy and built it how I wanted. It was easy, just go through all the options and he could tell me what it cost.
     
    Big Herb The Trucker and bigred81 Thank this.
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