I did complete a lease thru Prime but the way theirs is set up you still owe a sizable balloon payment. At the time I thought I was done with trucking so I opted for the cash bonus instead. I had the choice of either financing the balloon payment for two years or taking the bonus and I felt like the bonus was the way to go. I understand all the posts trying to compare the math on some of these deals but it seems like people are comparing apples to oranges. I'm not looking for bare bones base models and the numbers for the 2016's I've seen usually range 130-160k. And u can't just ignore APR %, it's a fact I have to deal with financing thru anyone. So if I had or have to pay 170k over 5 years for a new truck, it's not that bad of a deal to me
Lone Mountain New Trucks
Discussion in 'Ask An Owner Operator' started by Redneck-Ninja, Feb 1, 2016.
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But it does have "self canceling turn signals"TheFriscoKid, al_huryn, BoazTrucker and 2 others Thank this.
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Dirtymartini15x, TheFriscoKid, BoazTrucker and 1 other person Thank this. -
What I'm paying on a 3 year lease.. would have been able to buy and pay off that truck in the same 3 years.
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here's an additional thing freightshakers don't hold their value as good as other trucks, anyone wishing to spend $170+ thousand on that type of truck well! this is America, spend your money as you wish, Myself, i spend it a little more wisely, which is why my 3000 sgft home is paid for, my 2014 F150 is paid for, my wifes 2015 Focus is paid for, and my 2015 HD road glide will be paid for in 11 months, So! go ahead and waste yours, happy truckingkenn2632 Thanks this.
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It all starts with your FICO score. Whomever you talk to buying a new car or truck makes that basic qualification in the first 5 minutes of conversation, probably faster depending on his/ her computer connection. The rest of the numbers, down required, length/terms of contract, price of new truck, trade value if any, interest rate, and fees can all be jiggled according to how badly that vendor wants your business, and what kind of a financial risk you present
A full discussion is fruitless without knowing all of the variables. LM will probably extend totally different terms to the next 2 drivers walking in the door, as would any dealer.
LM is basically a leasing/finance company that has gotten into the sale of their used iron, and as a side business obtains new iron from dealers for a small markup and makes money taking higher risk customers, charging them more because they usually don't qualify at the more conservative dealers.
Compare side by side deals, 2 or more vendors for a comparible truck. Know your financial strengths and weaknesses before, and avoid getting " shiny truck fever", a near fatal disease I have succumbed to at least twice in the 40 years I have been an owner operator. Good luck -
Ryder covered my last carrier i work at at .14 CPM for full service, but everything was our fault, including losing drive caps.
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I have very limited experience with Ryder, but what I have seen is less than impressive. I worked at a company that leased everything with wheels from Penske, I was impressed by them.
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But doesn't the freightliner dealer require "near perfect" credit?
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