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Thinking of taking the plunge into Lease Purchase

Discussion in 'Lease Purchase Trucking Forum' started by Asphalt.cowboy, Jan 30, 2016.

Page 4 of 6
  1. Jan 31, 2016 #31
    Asphalt.cowboy

    Asphalt.cowboy Bobtail Member

    26
    15
    May 28, 2015
    276 - Virginia
    0

    I would love to get a T680 but really just want to get some money made and then I can worry about being picky once I have a good nest egg saved up.
     
    Asphalt.cowboy, Jan 31, 2016
    Asphalt.cowboy, Jan 31, 2016
    #31
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  3. Jan 31, 2016 #32
    Travisroland

    Travisroland Light Load Member

    236
    139
    Apr 2, 2015
    0
    I hope you have an emergency fund for when thing that are going to come up happen or you will be miserable
     
    Travisroland, Jan 31, 2016
    Travisroland, Jan 31, 2016
    #32
  4. Jan 31, 2016 #33
    Asphalt.cowboy

    Asphalt.cowboy Bobtail Member

    26
    15
    May 28, 2015
    276 - Virginia
    0
    My plan was to use the first 2 weeks of no lease payments to build a nest egg for maintenance, and then use my tax money I get back this year towards it. That should put me right around 5 to 7,000 in maintenance and then add 150 to 200 a week to it.

    That is the plan.

    If I go to Swift they said for a 2014 KW it would cost me about 758.39 a week for truck payment and all truck related expenses. (Insurance, 2290, Qualcomm, Prepass and etc). The lease they have for the 2014 is 76 weeks, followed with a 48,000 balloon. Which I talked to a bank that for 5,000.00 would finance that for 3 years for 1434.56 a month. In which at that point, I'm financing it so I could take it wherever I wanted to ( Schneider or Landstar).

    Is this a good deal, or should I rethink?

    BTW avg pays for Swift would be.

    1.14 cpm with no FSC
    They pay plates and permits
    They pay tolls not covered by EZ Pass and your fuel taxes.
     
    Asphalt.cowboy, Jan 31, 2016
    Asphalt.cowboy, Jan 31, 2016
    #33
  5. Jan 31, 2016 #34
    Asphalt.cowboy

    Asphalt.cowboy Bobtail Member

    26
    15
    May 28, 2015
    276 - Virginia
    0
    So basically do a year and a half at Swift to get the truck paid down, then get balloon financed and go wherever I need to in order to make good money.
     
    Asphalt.cowboy, Jan 31, 2016
    Asphalt.cowboy, Jan 31, 2016
    #34
  7. Feb 1, 2016 #35
    bomoto

    bomoto Light Load Member

    163
    87
    May 25, 2014
    Chattanooga Tn
    0
    My issue is that low rate per mile. Plus I'm not a fan of buying a company beat up truck. I still think you would do better at prime especially as a lease purchase. If your not happy or ready to get your own authority you can take your truck with you hassle free
     
    bomoto, Feb 1, 2016
    bomoto, Feb 1, 2016
    #35
  8. Feb 1, 2016 #36
    TigerShark

    TigerShark Medium Load Member

    454
    329
    Nov 5, 2015
    0
    Why lease a truck when you can steal one?

    Steal or steel I get confused.

    Also. Plans are plans until all your injectors go out and both steer tires blow :) merry effin Christmas.
     
    TigerShark, Feb 1, 2016
    TigerShark, Feb 1, 2016
    #36
    bomoto Thanks this.
  9. Feb 1, 2016 #37
    bomoto

    bomoto Light Load Member

    163
    87
    May 25, 2014
    Chattanooga Tn
    0
    I've been blessed as a company and as a lease operator to always get a new freightliner truck. I got 450k miles on my company one with minor repairs before they handed me a new one so I'm spoiled. I kept is so clean and new looking you couldn't tell it had so many miles. All my freightliner trucks I've owned since new and they held up well with a good repair network. I hear the old timers complain about the emission systems but since I got an apu I've never had to regen. And the 8 to 9 miles a gallon adds up in money. I'm keeping my fingers crossed that this new one will get me 5 or more years before need to put major money into it.
     
    bomoto, Feb 1, 2016
    bomoto, Feb 1, 2016
    #37
    TigerShark Thanks this.
  10. Feb 1, 2016 #38
    Travisroland

    Travisroland Light Load Member

    236
    139
    Apr 2, 2015
    0
    Have you said where your driving right now.Some times it's best to try a company out as a company driver 1st to see if y'all are compatible before leasing a truck.And don't make a decision when you have the fever for something so bad.Take it slow and cool down before jumping into something big
     
    Travisroland, Feb 1, 2016
    Travisroland, Feb 1, 2016
    #38
    bomoto Thanks this.
  11. Feb 1, 2016 #39
    bomoto

    bomoto Light Load Member

    163
    87
    May 25, 2014
    Chattanooga Tn
    0
    What is the percentage per load paid and age of the lease trucks. I also see paid every two weeks. Seems a bit long for most drivers
     
    bomoto, Feb 1, 2016
    bomoto, Feb 1, 2016
    #39
  12. Feb 1, 2016 #40
    MysticHZ

    MysticHZ Road Train Member

    5,902
    5,726
    May 28, 2010
    0
    Where do you see/hear this?

    You can get a brand new out of the box truck full 4 year warranty. Or take over an existing lease under warranty for the remainder of the term - sounds like what the OP is doing. Or you can purchase a used company truck ... Swift keeps the cream, they send the junk over to Lone Mountain. Swift also partners with outside dealers - such as Arrow.
     
    MysticHZ, Feb 1, 2016
    MysticHZ, Feb 1, 2016
    #40
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