Originally Posted by jphill3426

Here are the details of one of the L/P I was referring to. So you can make a better informed decision. I have a copy of the 36 page contract in hand and have read over it. I will continue to read over it to make sure I don't miss one single detail. One thing I have noticed so far is that the contract says the escrow is required but the maintenance account is not. The guy over L/P said the maintenance is required while your on the L/P. I will make sure of this since their maintenance account doesn't pay interest and a bank would. Another thing I am planning on asking about is the no balloon payment at the end since the contract states the following:

I have not heard anyone complain they did not receive truck after completion but will ask about this part of the contract. I assume this is a standard lease purchase contract but will make sure it is explained.

2007 International

Weekly Payments:
Truck Payment: $224.87
Term: 44 Months($244.87/wk x 44mo=$39577.12. On truck paper 07 model of the same truck are going from $35k-$45k depending on condition and mileage.)
Escrow: $62.50x40 weeks(After 40 weeks you are done paying this. It is a one time thing and not every year. You also earn interest on this money.)
Satellite: $20 (No longer required after payoff.)
Maint: $175(This goes into a account for you to use every week. From other L/P with this co. you don't have to fight for the money. Other L/P also said after you get so much you can withdraw some.)
Plate: $30
Permits: $20x5 weeks/year
Physical Dmg: $20
Cargo Ins: $9.23
Bobtail Ins: $10.96
Hwy Tax: $10.58
Occupational Accident: $32.77 Not required after paid off

Pay: 75% of 100%
100% of FSC

Example Week: (Weekly payment includes everything listed above. I purposely excluded medical Ins because some people spouse have it. If I miss anything that should be deducted let me know. I did not include things such as food, motels, etc. as everyone is different.)
Gross Miles Gross Pay FSC Fuel
3809.50 2036 2857.13 712.6 1541.66

2857.13+712.60(FSC)=3569.73
3569.73-615(Wkly Payments)=2954.73
2954.73-1541.66(Fuel)=1413.07

Example loads:
Weight Miles Rate Per Gross Payrate Gross Pay
42,830 452 1.73 CWT 740.96 .75 PCT 555.72
43,378 1102 2025.00 FLT 2,025.00 .75 PCT 1518.75
44,226 404 1.70 MI 686.80 .75 PCT 515.10
42,633 149 450.00 FLT 450.00 .75 PCT 337.50
46,656 381 1.70 MI 647.70 .75 PCT 485.78
48,000 1205 2290.00 FLT 2,290.00 .75 PCT 1717.50
43,541 352 555.32 FLT 555.32 .75 PCT 416.49

I know of another L/P where there is no balloon payment,no money down, and no interest but you do pay into an escrow account.
My husband and I pay 425 aweek and .06 amile for escrow and that it though the lease company. Oh and once ayear we pay 500 for road tax but it comes out 50 awk.

We're leased on at Conway and we pay 147.04 total for insurance and medical insurance, Conway pays everything else.

At Conway you get paid 25/75/100, which at first is kind of weird but it comes in handy..... the way it works is for O/O our pay period is from Wednesday to Tuesday at midnight, so anything you get in before Monday @ 5 you get 100% on anything turned in by midnight Tuesday you get 75% of then the following week you get paid 25% the rest of what is owed on the 75% loads. It's weird but it helps alot on week that were slow. And most of the loads we have hauled were between 17000-25000 lbs, but we have hauled afew heavy ones too.

Originally Posted by Chrindy Trucking

I know of another L/P where there is no balloon payment,no money down, and no interest but you do pay into an escrow account.
My husband and I pay 425 aweek and .06 amile for escrow and that it though the lease company. Oh and once ayear we pay 500 for road tax but it comes out 50 awk.

We're leased on at Conway and we pay 147.04 total for insurance and medical insurance, Conway pays everything else.

At Conway you get paid 25/75/100, which at first is kind of weird but it comes in handy..... the way it works is for O/O our pay period is from Wednesday to Tuesday at midnight, so anything you get in before Monday @ 5 you get 100% on anything turned in by midnight Tuesday you get 75% of then the following week you get paid 25% the rest of what is owed on the 75% loads. It's weird but it helps alot on week that were slow. And most of the loads we have hauled were between 17000-25000 lbs, but we have hauled afew heavy ones too.

How much does Conway actually pay? When I looked last it was like .93/mile I believe. Also is the $425 a week just for the truck or does that include other charges also. Could you provide every charge that is charged to you each week.

Originally Posted by jphill3426

How much does Conway actually pay? When I looked last it was like .93/mile I believe. Also is the $425 a week just for the truck or does that include other charges also. Could you provide every charge that is charged to you each week.

Yes Conway pay .93 amile plus .05 extra for Northeast pay and .03 for Hazmat pay. Also 425 awk is just the truck payment but the reason it's high is because they include interest in it, Also the charge we get charge our what I listed above. Conway pays everything for us except our truck insurance, We pay 147.04 which is truck and medical insurance. They have a company they work with for O/O medical insurance. So to anwser your question this is what our weekly charges look like:

Truck payment: 425
Escrow (.06mile) : depends on how many mile

Insurances: 147.04

True words good advice