Best company for lease purchase

I would consider buying fuel in other states to reduce your fuel tax bill. I rarely buy fuel in Maryland, but do buy fuel in Virginia. If you are running MD, VA and SC, most of your miles are probably in VA, anyway. You may be spending less at the pump, but may be spending more for your total fuel expenses.

 

Working for them now as L/O. They suck, they pay @ 50% of linehaul by paying by the mile. You buy the truck for $1 after it has 750-800 thousand on odometer. Till then it costs $145 per week + 34 cents per mile with no escrow account (@ $1200 per week, you also have other fixed costs that run @ $350 per week). They cover the maintenance (just enough to keep the truck legal) but your money is never invested or returned. Your bound to the carrier for 1 yr afterwards for a $5000 returnable deposit (if you buy the truck) you can move to another carrier that they approve of. The walk away cost is @ $1000. My weekly settlement net is usually @ $1200 per week after deductions and that's with me scrutinizing the costs. You might be able to do some good after moving to another carrier but you'll be getting raped the whole time. Save $5000 (for deposit) and rent a Penske truck (also getting raped but your not being mislead into believing you will actually own their junk), the weekly costs are comparable and you can run under your own authority (ie, no fleet managers, dispatchers, or career crushing safety dept).

 

I was paying @ $925/week thru Primes Lease program. They're lease purchase program may be better but I was quoted $14000 down for a new Freightliner

 

I disagree, 100% of lease payments are deductible at year end vs. amortization. Also there are no maintenance costs (or minimal) associated with leasing. It may not be the most cost effective solution for a carrier but it can get drivers on the road quickly generating revenue without credit or a purchase contract. It's also a good solution for an O/O carrier that has their only truck or trailer go down in mid delivery.

 

I ran as a lease operator with Prime for three years and netted 100000+ every year. They're the slowest trucks on the road and their safety team will drive you crazy but the money's right.