Leasing a truck from a rental company

crap, ryder runs credit check of your business. Since my company has been around only for a couple of months, Ryder credit check department will not approve me for a daycab or tandem-axle sleeper. Company must be at lease a coulple years old to qualify for Ryder tractors(

 

You think they just rent out $100,000 tractors without checking credit? Against every word of advice it was too expensive to be worthwhile and you still tried. You ought to be thanking Ryder for not taking you to the cleaners.

 

they rent 100000 dollar box trucks on credit card (hence no credit check). I did the math, renting a truck suited my current position. but thanks for advice, yet it is only advice of people who know little of me, hence no reason to assume that you know best whats best for me

 

We are also looking for similar; going into lease, we are small company with 5 trucks and maintenance are just killing everyone on these new trucks 2008 and above trucks , even guys who are buying brand new trucks are turning away because of so many problems with electrical and sensors and check engine lights.
Can you give any pointers on lease should be do 3 years lease, lease to buy ,should be get brand new truck or used truck in lease.
We are looking for full maintenance lease , we are looking to get 2-3 trucks on lease. We are located in California.

 

Whether you own the trucks or rent them from someone like Ryder, you will pay for the maintenance. I have rented from Penske and/or Ryder short term. It is expensive. I considered leasing or renting from them for a longer term, but the numbers didn't add up for me. You should understand that these rental companies make a profit when you rent their equipment. Having looked at this myself, I don't see the cost savings as opposed to owning.

 

hi G/Man, I do understand that these companies are in for profit as well just like aftermarket warranty companies, but I don't think they are making any profit anymore , alot of things are changing now. I have a family member who works premium 2000 warranty he said they been lossing money lately .
I can understand 10 years ago it made more sense to buy the trucks because they had less problems but now tables are turned, lease and warranty companies are not happy when all these new trucks are breaking down for all this EGR-DPF-DEF stuff, that's why alot of small companies are looking into leasing which was not the norm before.

 

I would look for a company that will pull current year rental trucks from their fleet. They are cheaper than specing new. Typically you get them to set them up how you want in terms of tires and what not. I would look at doing a 5 year lease with a loss of business clause after 3 years. Tell them how many miles you are going to run they should also give you around a 15% cushion on that before they start charging you really high per mile rates at the end. Depending on your credit they may require a deposit. I have found that Ryder/Penske are the most expensive game in town.

 

I got a truck through worldwide equipment leasing,they are affiliated with mhc kenworth peterbilt mack and volvo,i had to do a credit application,and my credits is not great about a 650 fico i dont have an llc or corp. but am a sole proprietor,and have an ein# basically they have to approve you for a line of credit in order to lease you a truck,they already have tags ifta and permits,even dot# now im not sure if you can use their insurance to haul under your own authority or not,but i will try to find out monday morning

 

pretty sure you can use their insurance.

 

That would be great to avoid the high down payment for the insurances