Hopper, Dump O/O's & Drivers

Somebody tell me this is a bad deal. Company has trucks for lease. They way they lease them, the guy looks the truck up in the blue book, calls the dealership to ask what they would price it at, and splits the difference. All the regular operating costs of the truck are on me, of course, fuel, tires, repairs, etc. They cover the trailer entirely, as they own that. They take 10% of every load. If there aren't any loads to run and I make no money, there's no lease payment due. 10% of $0 is $0, he says. They pay out as soon as they get the paperwork in, which is about two days with tripack. They've got a bunch of shiny W900's that have had service done on them every 10k miles since they bought them new. The only downside I can find is that they don't have any flatbed trailers. Oh yeah, 9% interest on the balance, no balloon payment.

 

Like wheathauler said, as long as it is what they say it is, it's not a bad deal. We've done a similar deal with a couple of guys, holding off their lease payment if we had a slow week.

 

BUMP! 2 days and no posts!? Everyone must either be hard at work or away on vacation.....had to make sure the thread didn't slide off the front page.....

 

Apparently wheat is ready to cut in Wa state! Couldn't believe they are just now cutting up there. Must have huge weight limits out there as every hopper bottom I saw was dragging 4 axles

 

Ran across an area that raises a big portion of Ky.'s corn and beans today and i saw beans from knee-high to waist-high,pretty spotty at best. 2 of the dairy's i haul bm for are chopping corn-silage and they say the tonnage is down from last year by 3 or 4 tons/acre. I'm wondering how are the crops looking everywhere else?