Hill Brothers Transportation: Lease vs. Company

Jim, what was your original purchase price on the truck and how much was your balloon payment at the end. Where do I find your "amortization schedule" (forgive me, Im not clear on how to translate that into truck leasing terms, but I have the feeling you understand finance) on your blog?

 

To be honest I've long since forgotten what the original purchase price was. I do recall the term for the lease was 208 weeks (48 months) with a weekly payment of right around $475. The balloon at the end was $38,000 if I recall correctly but I negotiated that down to $32,000 as the lease was ending.

You can find an extensive Google Worksheet that I kept during the duration of my lease here:

https://docs.google.com/spreadsheets/d/15dx7iV5hjEBhK3lH7H0RZokfalg4fk9Oiob13IVZRyM/edit?usp=sharing

The first virtual page has some totals for each year combined for simplicity and the second page has a week-by-week list of my settlement data for the entire time period.

As far as the amortization schedule, they presented one with the original lease but I haven't kept that paperwork since I purchased the truck outright.

I still own and operate the same truck, though at a different carrier.

Good luck,

Jim

 

Sorry to necropost, but I have a question on a similar topic to this thread: would you happen to know off the top of your head what (if any) Hill Bros' age limit is for O/O trucks to be brought on board? That's been my biggest headache in trying to break out of the company driver side of the industry, since my truck is a fair bit more than 10 years old and I am extremely loathe to enter a L/P program when I already own a perfectly good truck outright

 

Why not call Hill Bros and ask them, I'm sure they would tell you if they are interested or not.

 

Two reasons. First, I already tried calling and everyone's out of office. Second, I can guarantee that I'm about to be flooded with more essential tasks come tomorrow morning xD