Former Swift Flatbedders

Discussion in 'Flatbed Trucking Forum' started by cobra29, Feb 3, 2012.

  1. leftlanetruckin

    leftlanetruckin Road Train Member

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    So $1.35 a loaded mile, for flatbed???
    And the truth is, most cannot afford the fuel and make a profit. Hell, I doubt most could even tell you their break even point for a given month etc. I have spoken to quite a few, and I must say the VAST majority are completely clueless about running a business. I feel bad for most of them to be honest. They have junk credit, thus cannot get financed by any normal sources. This means they are tied to the company and their rules.
    Thus why the companies they are leasing from automatically remove the money from their settlements first. Maintenance account that is force fed and doesn't pay interest? Not for me.
    Sorry, but after 19yrs, I have yet to see a "lease truck" agreement that I would be remotely happy with. Renting the truck from the folks you work for is never going to end well, if/when things go South.
    Same reason why I buy my cell fones vs signing a new contract to get one for free. It is nice to have the power to say "screw you, I'm outta here". Unfortunately, the same cannot be said for the lease operator, unless he/she gets the truck refinanced in the vast majority of cases.
    If it's working for you, great. I dont mean any offense to those that go that route, just not for me. I want to be able to jump ship should a better/more profitable opportunities arise. I know lots of folks who have done the same thing through ATS etc, and for some it works, and for others it doesn't. The one thing they all have in common though, is a low credit score unfortunately.

    Martin
     
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  3. Injun

    Injun Road Train Member

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    Maintenance account is not forced. They can opt to not set one up. Of course, they won't get to use Swift's national accounts, but, hey! They're independent, right? Unfortunately, most of them just spend all the money and have nothing for maintenance. When something breaks (not IF) they have nothing to repair it with. So they "borrow" from Swift, end up in the hole and it goes from there.


    For me,, the tradeoff of allowing Swift (IEL) to hold my maintenance money pays off with the discounts I get from shops. It adds up to more than I could make on interest. I have a separate investment fund for that anyway. You weigh your options and decide what is more advantageous to you.
     
  4. leftlanetruckin

    leftlanetruckin Road Train Member

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    And, unlike you, most dont have a bloody clue...:biggrin_25524:
    I will admit, I did not know that Swift doesnt force their maintenance junk onto their lease operators. The vast majority of companies insist on this, if the truck comes from them. Now if the truck does not come from them, they legally cannot force it IIRC.
    When I was leased to SSC many years ago, I could use their shops at any time, maintenance account or not. Mind, their accounts also paid interest too, so wasn't too bad a deal.

    Martin
     
    Injun Thanks this.
  5. snowwy

    snowwy Road Train Member

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    the chance of not getting that maintance money back as what usually happens. and that you'll never own the truck would be deal breakers to me.

    paying 675 per week for 3 years and then starting all over a gain. no thanks.
    how much is the insurance and permits?

    but here's the thing that no one thinks about. and that's the big picture. MONEY.
    granted, owning the truck at the end would be a nice bonus. but it's the money that counts. AND, someday actually buy there own truck.
     
  6. Injun

    Injun Road Train Member

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    The only way you don't get your maintenance money back is if you don't take care of the truck. You turn in a truck in good condition with all maintenance up to date, you get your money back, including overmileage. You turn in a beat up POS and your maintenance account will be used to bring the truck back up to good condition.

    My weekly fixed is $650. In order to make that, plus the fuel to pay that, takes roughly 1050 miles....my break even point. I would say that's a whole lot better than where I was before, where total fixed costs were $1,150 every week...before fuel and maintenance. I have a much more reliable truck here, as well, so I'm spending about ¼ the time in the shop as before.

    It's not easy. It's work, no different than purchasing on the open market. Too many people get into this expecting the company to do it for them. It doesn't work that way.
     
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