Schneider choice program orientation and getting truck Schneider finance

Just guessing here but I'm guessing the repair paperwork. Gotta figure out what stuff is warranty from factory(if any) what part is covered under the maintenance package(if any)and what you have to pay for outta pocket.

 

What is the down payment on the T680?

 

I can live mighty fine on $34K a year.....single and no debt helps alot !!

 

There are quite a bit of perks, no doubt about it. Babysitting the truck when it breaks, that's the same for anyone whether you own the truck or are a company driver, the extra paperwork is not honestly much over a company driver... especially if you keep good records, it'll all be at your fingers.

As for the risk of losing your shirt, any entrepreneur will tell you that's a possibility, in any industry. As with any business venture, having seed capital is what can be the difference between making it and breaking. For trucking, we actually have a pretty decently proven figure to use: $10,000. That should be your maintenance fund that you have set to the side before you buy any truck... lease purchase, dealership, or otherwise. If you don't, then just like someone opening a restaurant or store, you risk losing your tail if things go south.

As an O/O (or Independent Contractor if you prefer) I have no governor on my truck, so I can pass anyone I please... being a smarter business man however, I never go above 63mph if I can avoid it... that's the difference between 7.5 mpg or 6 mpg. Since I'm the one paying for the fuel now, I prefer 7mpg+ whenever I can get it. I took off 20 days in May, because I felt like a week off was in order, then during that week had a medical emergency pop up. SNI never called to ask when I was coming back to work. Lastly, as for refusing a load, I get to pick my own loads. I know before I commit how much the load weighs (they're usually pretty good about accuracy there), how many miles, total revenue to the truck, total rate per loaded mile and total rate per total mile (including deadhead).

I hope I covered all concerns here. The only thing I have to say is this:

Build a business plan, be smart about running your business (because that's what you're doing now), learn to be a good driver BEFORE buying your own truck (shifting patterns, speed for fuel mileage, etc etc), and get all of your finances in order before making the leap. Clear up as much debt as you can while being a company driver and make sure you have your down-payment PLUS your $10k maintenance fund set up ahead of time. If you buy a used truck and only have $5k set up for maint. before hand, don't think you can get that revolving $10k set up before your truck breaks... it'll happen and then you'll be flat broke.

In all honesty, if you choose to be company driver or owner op (independent or leased to a company) the choice is yours. Do your research, talk to other drivers to figure out where they went wrong or right. Not doing your research and learning as much as you can before making the leap is just setting you up to fail, and the first year is the hardest out here as an O/O if not done properly.

I'm not claiming, by any means, to be an expert, just sharing some advice given to me when I was researching, and adding in my own bits from personal experience. Best of luck!

 

My question is the rates you listed is that before you take your 65%?

 

I saved my money and paid cash for my new truck in 1998. And still had $35k in the bank. And got extended warranties.

I think I had it covered.

So many people by a truck and have very little money. That is risky.

 

Any updates ?

 

Well, I made it to Charlotte OC waiting on the shuttle van to take me to hotel.

 

Keep us updated!!

 

Is there anyone on the forum thats leasing there truck from sfi, but has taking to another company other than schneider. Alot of drivers claim that there not getting enought miles, or the percentage pay isn't working. Don't you have the option of seeing what another company has to offer.