This is the best company lease program I have ever seen. Makes me think I am not asking the right questions
It helps, of course, that we are a hazmat team but I just don't see a big downside here. Looks like an easy $3,500 to $4,000 a week before taxes. Any teams currently leasing want to chime in?
Looking at their lease program...what am I mssing?
Discussion in 'Covenant' started by NoCoCraig, May 31, 2013.
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We are not going this direction, have a truck but I was pretty shocked when I was doing the research. We used to be company drivers for USX and looked at the lease options and we were not impressed. Covenant has a calculator on their website that was pretty complete as far as costs and revenue. You could make a lot of adjustments (ie: miles, mpg, truck payment) and see what the opportunity looked like. I was just wondering if this tracks accurately with what lease operators were seeing in the real world. If so, I would have jumped all over it a year ago. Way better than any other lease-purchase program we have seen. For example, truck payments as low as $275 a week.
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If it is a lease thru a company then that is the problem!
There are leasing companies out there and most dealerships also have leaving programs that are a lot better and then you can work for anyone you want, wherever you want, whenever you want. -
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.10 per mile maintenance
11$ a week highway use tax
17$ a week qualcomm
7$ a week insurance
27$ a week per driver occ insurance
25$ a week physical damage insurance
50$ a week warranty ( think one of the warranty's is for the engine)
95$ for 8 weeks warranty
400$ a week lease for an old international (all they have right now is old internationals)
lease is 3 years then a balloon payment
Dont remember some of the specifics for the info above -
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I'll give you my 2 cents for what it's worth. Here's how I see it, leasing a truck from a company means you will be running their freight and only their freight correct? Maybe they have the freight or the miles but they also have control of your income earning potential through dispatch. if you are that happy with the company then why not buy your own truck, spec it like a real truck and not a company truck and then lease on to the company? That way when things go sour you can leave the company and take your truck with you? If the answer is you are short on funds which is what most people will say then you probably shouldn't be doing it anyway correct? I was just thinking the other day how over the past 20 years I have seen more and more companies offering a lease purchase program. This isn't because they are trying to be nice but rather because it is a good deal for them. I personally would not want anyone to have control over me as an owner operator. If I'm paying the truck payment maintenance etc. the control would be in my hands and not theirs. I would even pay my own base plates and insurance. This is to keep their control to a minimum. Just my thoughts, I'm sure there are others more knowledgably than me.
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