Is Wel Company lease to purchase a good option?

The recruiter who used to be a driver said that, They are leasing 06, 07,08 KW T660, Peterbuilt 387, and freightliners. The 06 would be $500 a week, the 07 would be $575 a week, and the 08 would be $650 a week. The plates and permits were included in the weekly lease amount, and that all trucks are equipped with APU units. They pay 69% of linehual, 100% fuel surcharge, drivers would get their discounts at the fuel pump, the maintenance escrow account is .09 per mile, insurance benefits are about $80.00 a week for a family, Rider policy is $18 a month, and all tolls would be reimbursed, along with detention pay, first stop and last stop are free, but that each additional stop is $15. He also said that any overnights for 24 hours would pay $75 a day. The highway fuel tax would be .06 cents per mile for that escrow account. They also said that when orientation was complete that the driver would get 187.50 and then they would also cut a check that for a $1000 sign on bonus. He said most companies that offer sign on bonuses break them up, but they do things differently then other companies. They also have a tax service that helps drivers that are going from company drivers to l/p or O/O.

Most companies that are doing the lease to purchase are paying .93-.96 cents per mile with 100% fuel surcharge. When I worked in the trucking business our o/o were paid 69% of line-haul, 100% fuel surcharge, and any stop pay, labor, tolls, and detention time. We had an escrow account for maintenance, and the driver would get a com-data card to purchase fuel. We would total all line-haul, fuel surcharge, and any accessorials due to the driver and subtract the cost of fuel and the $2.00 withdrawal fee, along with the maintenance escrow. The lease to purchase drivers had an escrow account that had to be paid into for a deposit, but after the truck was paid for then the driver would get that deposit back. I think we are going to hold off for right now, and maybe when my disability pay comes in then we can look at going to a dealer to do a lease/purchase. I think that would be the better way to handle things.

 

Yeah...we talked about it, and decided that it would be better to lease our own truck eventually from a dealer or buying one out right. By years end I should have my disability back pay, and it would be enough to put a decent down payment. There is a dealer that I found in southern Indiana that will work with down payments and they will set payments that are affordable to your situation. Now they don't have a mass amount of trucks to choose from, but they are pretty decent.

We could then lease on with a company and use their authority or possibly get our own authority. There is always a lot to think about when deciding to become an o/o.