Penske lease Volvo VNL64T780

Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by DominguezTrucking, Apr 19, 2016.

  1. DominguezTrucking

    DominguezTrucking Bobtail Member

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    I've heard dooms day stories of hidden fees and what not about Penske leases. So, I have to ask here.
    Is a Penske lease really worth it? Or are there hidden fees when it comes to maintenance and repairs which is advertised as inclusive?

    Lease that was offered from Penske is as follows:
    Fixed Lease charge p/month $2,655/mn
    Mileage Charge $0.07/mi
    Lease Term 54 Months


    This would suggest that the payment per month would come to around $4,000 - $5,000 p/month if we are traveling from the West to the East coast 4 times per month.

    Any information whether good news or bad news is appreciated. Just hope its from personal experience or from a friend in the business story to you. Thanks in advance haulers!
     
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  3. bzinger

    bzinger Road Train Member

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    Well I've never been on the financial side of truck leasing though I know it pricy ...however I've run penske and Rollins long term lease trucks for a private carrier in the past and the service couldn't be beat in terms of if there was a breakdown , if it broke down they were all over it no matter where I was and if they couldn't fix it they towed me a rental truck till mine was running at no charge.
     
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  4. ExOTR

    ExOTR Windshield Chipper Extraordinaire

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    I work for Penske part time, and there are no "hidden fees". The only thing a driver is responsible for is the windshield and physical damage. If your truck goes down road service is free, if they can't repair it there a rental unit will be provided for free. The lease is expensive, but everything is included.
     
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  5. DominguezTrucking

    DominguezTrucking Bobtail Member

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    So you work for Penske and you are telling me the lease terms are expensive.

    Does this mean you can beat this that was offered?
     
  6. DUNE-T

    DUNE-T Road Train Member

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    Lol
     
  7. windsmith

    windsmith Road Train Member

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    What I read in to that was 'you get what you pay for'.
     
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  8. DominguezTrucking

    DominguezTrucking Bobtail Member

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    Okay, so my original thought that Penske lease is a rip off is..."Correct?" or not?
     
  9. ExOTR

    ExOTR Windshield Chipper Extraordinaire

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    Lease cost is high with Penske no matter what, you're paying for a full service shop as well. You can get cheaper leasing used, or you pay a true premium and actually custom spec one coming from the factory. Main independents I see leasing from penske are FedEx contractors, and a few guys running bulk.(shop is next door to a Purina mill)
     
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  10. DominguezTrucking

    DominguezTrucking Bobtail Member

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    Excellent, thank you for the information!
     
  11. DominguezTrucking

    DominguezTrucking Bobtail Member

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    Can you answer me something else please?
    The "Buy Out Option", I am under the impression we would be obligated to buy out the "Contract."
    My business partner thinks we would be obligated to buy out ONLY the current "Value of the Truck" at time of buy out.

    Who's correct? Me or him?
     
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