THE ADVENTURES CONTINUE - DFO gets a truck and hops on Schneider's IC Choice Program

dieselfuelonly · Feb 1, 2014

chicknwing said: ↑

You got that right
Click to expand...

Decide on a truck yet CW? Might be in Charlotte in a few nights, headed down to Georgia after I pick up in Ohio. Will call you if I stop through for the night, but I may be running all the way down to Atlanta OC instead, just depends on how the day ahead goes.

Chopper1776 · Feb 1, 2014

Is there a website that shows all the trucks that are available through Schneider besides the one with all their old ones on it?

dieselfuelonly · Feb 1, 2014

They used to have their used and new inventory on SFITrucks.com but they stopped doing that for some apparent reason, and now just have a few cheesy pictures of the new trucks buried in a page.

Chopper1776 · Feb 1, 2014

dieselfuelonly said: ↑

They used to have their used and new inventory on SFITrucks.com but they stopped doing that for some apparent reason, and now just have a few cheesy pictures of the new trucks buried in a page.
Click to expand...

They still have their old trucks on schneidertrucks.com but I saw some used trucks they were detailing in Green Bay that didn't look like any other Schneider truck I've ever seen.

atruckr · Feb 2, 2014

dieselfuelonly said: ↑

Yep, honestly the way I look at it is that I'm making the same amount that a good company driver with an excellent DBL would make. However, I'm also making a truck payment towards a truck I want to keep, and running a business that I want to continue with in the future.

I have some weeks where I bring home a really nice paycheck and other weeks where I might have a $500 check. I do a lot better than I did as a company driver, but I think my experience as a company driver was a bit rougher than many. Maybe I didn't throw enough fits, or stand up for myself and got pushed around too much, I don't really know. I just liked to be left alone and do my own thing, and I think they took advantage of that.

Now, I can truly be left alone and do my own thing. Go where I want to go, be comfortable in my truck that is operated and maintained and outfitted by me, myself and I, run my days how I want to, etc.

Its far from perfect, I wish we had more freight in the Southeast. I could spend all my time trucking around Georgia, going to and from NC only when I wanted to go home. I will truck the living **** out of Georgia. But freight is pretty quiet there now and I can't, so I have to adapt and maybe go some places that I'm not particularly fond of. I still haven't had to go into the true Northeastern states yet, and I hope it stays that way. I'm fine bringing home a little less knowing that I don't have to deal with the added stresses and complications of running that area of the country. If that's where you want to run, you can do very, very well. But it will take a toll on your truck and probably yourself as well.

Personally I think the one year lease is the best way to go under the following conditions:

You get a good used truck
You plan to get away from leasing as soon as possible
You plan to eventually own a truck outright

A used truck has a lower payment than a new truck. Your total monthly payment will be about the same as someone with a new truck running the same lease term, but more money goes into a maintenance account than on a new truck. The money in this maintenance account is yours at the end of the lease, or obviously may be used for making repairs. I'd much rather be putting money towards in account which will either a. come back to me, or b., get put towards maintaining something that is mine, vs. going to Schneider in the form of a higher weekly payment.

I plan to get away from leasing as soon as possible, hopefully at the end of the 52 weeks, whether its switching to traditional financing on the residual value of my truck at the end of the lease through SFI (this is one of several options with SFI at the end of my 52 weeks), or, what I am hoping that I can do, is take my profits, losses, etc., etc., to the bank and show them that I am running a successful business and will try to get a loan to pay off the residual on the truck. If I can have a lower payment, lower interest rate, and be free from SFI (i.e. I can manage my maintenance account money all myself in my own account), that would be ideal. Will it be possible? I don't know, but I am going to try. I will of course have to compare financing options between SFI and the bank to see which, if either, is the best one.

Lastly, I think its OK if you plan to keep the truck. If you don't plan to keep the truck and just want to keep renewing leases, in my opinion you are just throwing away your money, making truck payments for Schneider. Again, that's just my opinion and I mean no offense to anyone who likes to keep revolving their leases and getting a new truck. For some I'm sure its the best plan and that they are successful at it, in my situation, probably not.

You can do a longer lease I guess if your credit is good enough, or you have more experience. But that's locking yourself into much longer time periods with SFI which I don't think is good. Leasing is not BAD, per say, but I don't want to be doing it any longer than I have to. The nice thing about the way that SFI does the leasing is that it is not leasing in the same sense that many other companies lease... IMO its closer to very short term/high payment financing with a roughly 20% interest rate, which I get from doing the following:

I look at it like this:

$80,000 truck
Weekly truck payment of $685 (this is my actual truck payment, not maintenance, insurance, etc., just the truck)
Owe $54,000 at end of 52 weeks

52 weeks * $685 payment = $35,620 paid towards truck
If 0% interest, would still owe $44,380 on truck
Actually owe $54,000
So a 19.5% difference in those values

I've seen other companies where their idea of a lease is you just keep leasing and leasing and leasing until you have FINALLY paid off the truck completely with a $1 buyout, but only if you can make it that far. I don't want that, and I'm glad that SFI doesn't run things this way.

It's been a way for me to get a start as an o/o in the trucking business, when I really had no other way to get started. I wanted to stay with Schneider as there was a lot that I did (and still do) like about the company, despite making deplorable wages as a company driver.

So far, I'm happy, and I'm making money and working towards owning my truck, what can I say?
Click to expand...

Yep, Well said! The freedom of running on Choice is the pay off. The extra pay and owning your own truck is the bonus!

chicknwing · Feb 2, 2014

dieselfuelonly said: ↑

Decide on a truck yet CW? Might be in Charlotte in a few nights, headed down to Georgia after I pick up in Ohio. Will call you if I stop through for the night, but I may be running all the way down to Atlanta OC instead, just depends on how the day ahead goes.
Click to expand...

Yep, picked the Pete. Pickup scheduled for 3/10. Now the fun part, the ops manager for my division is not willing to let me transfer divisions. Have to take it higher than her. Will hopefully find out from them on Monday, but in the mean time I gave notice. So we will see how that goes...

Let me know if you are stopping through, I will most definitely meet you at the O.C.

chicknwing · Feb 2, 2014

dieselfuelonly said: ↑

The money in this maintenance account is yours at the end of the lease, or obviously may be used for making repairs.
Click to expand...

You forgot to mention that cash can also be used to cover the balloon at the end of the lease contract

gentleroger · Feb 2, 2014

chicknwing said: ↑

You forgot to mention that cash can also be used to cover the balloon at the end of the lease contract
Click to expand...

When the truck breaks down two days latter how will you pay to fix it?

atruckr · Feb 2, 2014

gentleroger said: ↑

When the truck breaks down two days latter how will you pay to fix it?
Click to expand...

Well, if your broke, you shouldn't be. But lets just say you are. Should be able to borrow money against the truck at that point and get it fixed, it's paid for! There is always a way to keep yourself moving.

chicknwing · Feb 2, 2014

gentleroger said: ↑

When the truck breaks down two days latter how will you pay to fix it?
Click to expand...

If you buy out the balloon they are not going to hold onto the maintenance account anyhow. As a smart business owner you should have your own fund set aside for the maintenance of the truck and you should have already planned ahead for those types of contingencies. Everyone should know that trucks break down. Not planning ahead for the inevitable repair bill is just plum dumb. Asking a company to manage your money to pay for repairs on your truck is not what a smart business man does. If you are broke at the end of your lease you would not be buying the truck out either. Most likely you would be glad the contract is over and walking away...

CW

Log in or Sign up

Forums

Find Trucking Jobs

THE ADVENTURES CONTINUE - DFO gets a truck and hops on Schneider's IC Choice Program

dieselfuelonly Road Train Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

Chopper1776 Light Load Member

dieselfuelonly Road Train Member

Chopper1776 Light Load Member

atruckr Road Train Member

chicknwing Medium Load Member

chicknwing Medium Load Member

gentleroger Road Train Member

atruckr Road Train Member

chicknwing Medium Load Member

Trucking Jobs in 30 seconds

Wait, employers can't reach you!

Log in or Sign up

Useful Searches

Find Trucking Jobs

THE ADVENTURES CONTINUE - DFO gets a truck and hops on Schneider's IC Choice Program

dieselfuelonly Road Train Member

Wait, employers can't reach you!

Chopper1776 Light Load Member

dieselfuelonly Road Train Member

Chopper1776 Light Load Member

atruckr Road Train Member

chicknwing Medium Load Member

chicknwing Medium Load Member

gentleroger Road Train Member

atruckr Road Train Member

chicknwing Medium Load Member

Wait, employers can't reach you!