Lease Purchase with a small company

Ok I want to do lease purchase to a small comapny in Knoxville, tn. 225 drivers total and 40 of them are O/O. The truck I am driving is a 05' freightliner w/ detroit motor. I have looked over the maintance records and the truck has 819,000 miles on it. The motor has been totally rebuilt at 500,000. It aslo has a new water pump, new jakes, new seals, the overhead has been done at 800,000 miles. it also has other things done as well. It already has 8 new drive tires and 2 new steers.

The truck payment is 265 weekly, along with insurance, permits, plates, and escow which totals to be 515 per week. The cpm is .95 loaded and any DH over 100 miles is 1.49 cpm. The fuel surcharge is .45 cpm. The company also gets discounts on fuel up to .30 cpm at some fuel stops. Its a 2 year lease and you can pay it off early and get a clear title if you choose to. Now the only other thing to consider is IF the truck were to blow up after the day i sign the lease. any thoughts on the truck or topic please post.

 

I meant to say .54 fsc, must've typed it backwards. escrow is an automatic $100 per week for the first 12 weeks, then after that you can decide to put more if you wish.

I have talked to a few drivers who are fleasing now and they all have told me that they have to stay ahead of the game, cause the truck pmt and charges automatically come out regardless if you get the miles or not.

Of course you got truck maintenance, but I kinda got lucky cause the truck I have was under a lease already from another driver who had a family emergency and had to go home. So, everything he had wrong with it that i mentioned has already been fixed, and I already have it in the shop now with another huge ### list.

 

The brake shoes are fairly new on the truck, few months. Among the other repairs i listed a clutch was one of them. The owner told me he was going to sell the truck, thats why he had the engine rebuilt so early. He decided to keep it in the fleet and lease the truck out to whomever. The truck itself has been taken care of as far as maintenance wise. To my knowledge of the report nothing has been done to the tranny, just major repairs to the engine.

As of now i bring home after taxes around $825 a week as a company driver. With the fsc, the speed of the truck, and fuel discount I was estimating somewhere around 1200-1500 a week in fuel. With the 2800-3000 miles per week I figured a bring home of around $1600 depending on how well I maintain my fuel.

As far as home time, Ive done the day cab job for over a year. Im 23 years old and being home is nice, but I like to travel. Besides since the home base is in knoxville I see home more often than not. May not be but for a few hours, but its still not that bad.

 

I mean $1.25/mile in operating cost is poor business management. If you wanna calculate it at milage. The operating cost would be at around $0.57 a mile give or take a few. The company only takes $100 out for the first 12 weeks for escrow, so If i chose to i could put more in it, its optional. After all that total net is $0.97 per mile. That is calculated at between 62-65 mph.