Going back to OTR with Schneider Lease Purchase!
Discussion in 'Schneider' started by plynnjr92, Oct 26, 2019.
Page 59 of 68
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A lot of these "leasing" companies require at least 5 grand skin in the game, at least that's what the guy started doing where I used to work. You turn the truck back again, no problem. Except you lose the 5 grand and then they go through the truck with a fine tooth comb and charge you for everything they can find. When you get your final settlement 45 days later, there's nothing there.
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Yeah I only got a credit inquiry from SFI but the truck lease doesn't report to the bureaus at all. I'll stick it out just because leaving would just put me in a worse situation. I'd rather keep an alright gig for a couple years than hop around every 6-12 months looking for better.
jsnell and Paulmurray Thank this. -
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Opus Thanks this.
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Hindsight is seriously 20/20. It's been 3 months and I know much more about how the IC system and how being an owner operator is than I did before I signed up. If I were to go back with my current knowledge, I probably would have secured enough money from family or a friend to put a down payment on a used truck. A 2015 Prostar from Lone Mountain for example. Having a much lower monthly payment would offset lower fuel mileage, with it being an older truck with a relatively thirsty ISX and 10 speed transmission vs a new DD15 and a 12 speed. The lower operating costs would have nearly guaranteed my profitability given the way I run.
However, the Prostar didn't come with a fridge, apu or inverter, as they looked to be old fleet trucks, Swift trucks by the look of them. And since we know fleet trucks aren't usually well taken care of, I didn't want to risk having a major breakdown issue early on. I wouldn't have the capital to have my truck towed into a shop for an engine teardown for example, and if the warranty expired or was otherwise invalid, I'd be up poop creek.
In addition, though while not as serious of a concern, by leasing an outside truck, I'd be responsible for my own registration, permits, and insurance if I remember correctly. I'd be operating without the safety net devices that Schneider offers to SFI clients, and for a first time lessee, I feared it would be alot to handle. I might have gotten a handle on it, but I didn't know that for certain. Plus, again, because Lone Mountain's used trucks aren't equipped with creature comforts like fridge, apu and inverter, I'd have to source them myself. I didn't have the capability to spend $8k plus on a tripac, $500 on an inverter, maybe $100 for a fridge, and the labor costs associated with them.
Lastly, I thought I'd make more money on the load board than I currently am. I foolishly budgeted myself running $1.60-$1.70 all miles and thought I'd make the SFI payment without excessive hassle. But in reality I'm closer to $1.40-$1.50 all miles, some weeks hitting $1.55 if I'm lucky.Mountaintrucker4302, kanidana, RStewart and 1 other person Thank this. -
At least you're honest about where you really are.
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I'm glad you're gonna stick it out but instead of the doom and gloom, stay positive. This is trucking and something can and will always go wrong. If you make a mistake, learn from it and move on. If someone else causes you grief, try to learn how you could've avoided it altogether if possible or just plan on that situation if you go that route again.
All bad situations aren't bad if you know ahead of time what to expect. Just as an example, a run I used to do years ago always loaded after 1pm. I wasn't given this info and so I busted my butt to get there early the first time I went in and ended up having to sit for about 5 hours before I got loaded. I wasn't real happy about that situation cause I had to sit and it was putting me behind schedule, so I thought. Once the shipper informed me about the loading time it was never an issue again cause I planned for it.
I'm sure you'll get that rate per mile up more as you get a better feel for their freight lanes and where the good loads are. There are guys doing better than that right now but they've got it figured out.
One thing I did, and still do, is try not to worry about pulling a good load every time. I'd usually have a bad load sandwiched between two good loads and so my average ended up being good.
You don't fail until you quit, perseverance and determination alway pays off.plynnjr92, Dave_in_AZ, T.Rucker and 2 others Thank this. -
Well this sucks, any ideas how to get landing gears up without a crank?
plynnjr92, Rugerfan and Dave_in_AZ Thank this. -
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