Why finance thru the dealer anyways I tend to pay around 7%,vat my local bank and since they handle most of my business banking when we pay off this last round , which is down to 190k now we will negotiate that rate down some.....15% seams high and if you have your own financing on used trucks you are a cash customer and can negotiate the price pretty hard (and I am aggressive )
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Why would anyone get into a lease purchase????
Discussion in 'Lease Purchase Trucking Forum' started by haz-matguru, Sep 25, 2020.
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I bought out my first lease with Schneider after 2 years using what I had saved and what was in my maintenance account.......about 15k on both sides.
Ran the truck up to 990k and traded it to Selectrucks in Atlanta for a used CRST truck that only had about 350k on the clock. I financed the purchase through my local bank at, I believe, about 3.8%.
My monthly payment is $1200.
Schneider trucks will run you about $1200 a week all in. And you can make money that way if you're focused.....but not a lot. But there is still money to be made. In all honesty, probably in the 75k range.TequilaSunrise Thanks this. -
I was just looking at JCT. An entire fleet composed of nothing but lease purchase/Owner-Operators. On their Facebook page I noticed one had been there for 8 years.
So, according to all of you, JCT has managed to run a company and not get a bad reputation while cheating drivers who continue to drive leased trucks while making less than the average company driver because, according to most of you, it can't be done.Opus Thanks this. -
Look at jct when you get a chance lmthe letter next to the truck number changes with each guy that tries thier dream at 1.00 a mile ....you will notice they go pretty far up the alphabet considering they trade them in every four years ..
And I did some time back in the day their it was allways not a great deal but they were outlaw af ...what you couldn't make up with the rate you made up running 4000 to 5000 miles a week . -
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My friend works at JCT. He nets about 30k a year. 100% not worth it. He's barely making enough to be off the streets. He trades out his truck so much because they aren't built to outlast a driver.
The lies are so ingrained, he thinks he's making progress... Sad. -
I have bought a couple jct trades they def need significantly more work then some of the other fleet trade ins I have bought in the pastTequilaSunrise Thanks this. -
I said... Live on $30k bank the difference and pay cash for a truck to start his business off in the positive. But, he didn't want to walk away from all the work he already put in. <EYE ROLL EMOJI HERE> So instead, he's struggling like it's his religion.TokyoJoe Thanks this. -
Bottom-line what he does is his business, just because it works for you, it may not work for him. I learned many years ago to leave it alone, and I have friends that have completed JCT lease's and Prime Leases and moved on and both are doing well as independent's and seemed to be happy. Personally I would do the lease purchase but for some it seems to work. More power to them if it makes them happy.
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That is hilarious lol.... but at the same time I feel bad cause running like that means ur never home...
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