Experiences with Schneider Finance

Totally agree that warranty is a wonderful thing. But it costs. A lot. In fact the price difference between a new truck and what it sells for at auction when it is traded in, plus the interest paid on the loan, is what that new truck warranty cost.

I'm not saying there isn't a time for buying a new truck, even when starting out. But there are risks and costs that people don't often see with a new truck. One should have more control over expenses with a new truck, but it is not always the case.

As a side note on warranty:
A Reliabilt (crate motor) Series 60 comes with 300,000/36 months of warranty.
That's more warranty than Cummins offers on a new truck.

 

Very true! It does costs a lot and I am aware of depreciation and finance charges etc. New truck is over priced! I get it.

However the point is opportunity! You know the saying. You have to spend money to make money, right! If buying a new truck gives you additional peace of mind, you make more money and gives you more freedom to route yourself then I say it is 100% worth it and better than missing the opportunity because one is afraid of unknown costs in buying a new truck.

If it does not make you more money or you are fine where you are and/or you have the cash to buy outright then yes, forget it!

In addition buying from an outside vender is probably not best either. SFI works with driver's who get behind in their payments. They want you to succeed. An outside vender more than likely won't give a crap! If your behind in your payments they will want the truck back.

I studied and researched this all very thoroughly, people including myself will miss the opportunity for more money because of beliefs about "best thing to do is save your money and buy a used truck".

I use to think that way! But after looking at closely I realized I was delaying and missing the opportunity to make more!

 

Schneider finance does work with their customers. If you can show them your worth it and trying they will help you. Ive seen people get into a truck that turns out to be a problem child, if you keep in contact with your salesperson about the issues and continue to have problems they will pull you out of that truck and put you into a different one. I've seen it many times. Especially with alot of the DPF trucks 08-2010 that went out. My advice to you would be to stay away from 2008 to 2010 year trucks. They are bad news. Schneider Finance is sending them away to auction as soon as they can. So either go 2007 or older otherwise jump up to 2012-2013-2014. It sucks that they have to have it but anything with DEF is better, less problems. The newer Cascadias have a very good warranty also. I hear more good things about them than bad so far. Schneider Finance has a very good reconditioning shop. They are a 3rd party shop called dedicated fleet service. I know the service manager very well, he worked for peterbilt for many years and very knowledgeable. They try to go through the trucks as well as they possibly can, everything gets oil sampled and or dynoed when it comes in. Hope this helps. Im the middle man i dont work for either of the two companies but deal with them both.

 

There was a couple of guys in my class that were getting used trucks there payments were about $50 less than mine but they had shorter term. Mine is 3 year they have 1 year. Their trucks had over 600,000 miles. You might get lucky and they will have a 13 spd. My buddy got 13 spd but he put $5000 down on it and ordered a new truck from factory.

Can't say for sure but don't think they will finance a $30,000 truck.

They don't always have the same selection as you see online. Best to call them, tell them what your looking for and ask if they can notify you when it comes in. Then you will know if they get those kinds of trucks and how much it costs etc. Very good people there. They will let you know upfront.

My truck was a company truck that had 50,000 miles on it, 2013 cascadia

Not sure where they get the other trucks from. Good luck!

 

Generally most SFI trucks were ordered from the dealer. But once in while if they need more trucks they will buy a truck here and there off a dealers lot with different specs. Every year they order so many of each truck brand. This year they ordered 40 kenworth T680's all spec'd the same, a handful of 780 volvos spec'd the same, and prob around 150 cascadias. The person that orders them is prty knowledgeable and gets alot of input from the customers on how to spec out for the money. The cascadias are they only trucks that SFI doesnt really have a say in unfortunately. Also stay away from the 04 volvo with isx engine and 10spd.

 

Yes they did have some floating around i want to say 10 or so 2006's. But they are not fully decked out with all the gauges, bunk windows, etc.

 

I know a guy who's been doing the choice program and recently switched to teams with his wife running from Smyrna Tennessee to Laredo Texas and back everyday good run. He loves it. He got me looking to the SFI choice program. I've been a company driver for a year and two months i went through the process with these guys got all approved and had some set backs. Originally went with a Volvo 670 2006 with 530,000 miles but I knew it wasent the right choice so I called my lease rep he says he isn't trying to set me up for failure and wants me to succeed so he removed the Volvo and I found a 2011 kenworth t660 my dream truck. It has 241,000 miles with a cummins 10 speed. Fine by me. It's reserved till they recondition it. I was told I won't get it till August though which is whatever. But if any of you guys have questions feel free to text me or whatever I'd be happy to help. 440- nine nine four- 4371

 

please let me know how it goes I am in a similar situation.. I have been with Schneider a little over a year ,, just got my jacket and tshirts.. so I look like a devoted Schneider driver,,, I am thinking of going ownerop/lease but want to know what I am up against and is the money really as good as I hope it to be,, I have a wife and kids and know I will be on the road a lot but I hate being at the mercy of the dbls and hearing 'freight is soft in that area' sorry you have to sit another day... if I have to be on the road I want to burn miles of rubber and fuel and make enough my wife wont have to work.. if I can learn enough from being an owner/lease I hope to get my own trucking business going. thanks for any input you can give me