Life at American Central Transport (ACT)

Theyre still a bunch of trls there. A few in the back and alot up front. I guess they just didnt have another load going to kc so i just went home.

 

well,i decided to go on e-logs when i came here and i have averaged over a thousand a week (this is including time off paydays) and typically run 450-600 miles a day depending on the needs of the load or how i need to plan my clock,,and besides,they do check your logs against your qcom pretty regular so you might as well be on e-logs,,if you know how to use them then they are almost as flexible as paper,,and they have been running e-logs for a couple of years and they know exactly how to utilize them.

 

its not punishment,,its a straight payout with a balloon note of 10-12k depending on the origional act purchase terms of the truck,,if you want to pay it off early go ahead but you are not going to get a discount from financing fees like you would on a normal 70-30 loan on a car would be (i.e: 14-21 day payoff balance),,think of it this way,,a car loan is usually set up to have most of the interest/finance fees built into the first three years of a five year loan so if you pay off in the first two years you can save a butt load of money,,but this lease is more like signature loan,,the interest is spread out evenly across the term,,so early buyout doesn't "save" you any interest or fees,,,the advantage is that this type of "loan" pays off the principle at an even rate as opposed to a 70-30 which pays primarily interest for the first half/or 3/4 quarters of the "loan",hope this helps.

 

I think that makes more sense. I wasn't expecting a discount like some loans. My thinking was if there was 24 weeks left plus the balloon and I had 24 payments plus the balloon in hand I would like to pay it then just so I would be done. I hope that clarifies my wants a little better. The answer I was given before was that I would pay more to do what I wanted then to just wait and pay the payments and not just a little more but a lot more.

 

ahhhh,my mistake,,,but b4 you payoff early talk to a cpa familiar with trucking/owner ops and with your specific tax situation,,,its my understanding that once you complete the lease you wont be able to write off the lease payment or use any depreciation,,,or something like that,,,,i dont understand all that tax crap,,i just hand my grocerybags of receipts to my cpa and cry a little until she zeros out my liabilty or gets me a refund!!! hey,,,tears work!!!!!!

 

Hey BK do they hire out of NC and if so how often will I get home on L/P thanks,
Big Trucker101