Walk away lease

As far as i no penske and ryder wont lease to individuals. Have you formed a company yet?
Feightliner has a lease program. Also lilly truck lease.
Who pays for the maintennce and repairs now? I ask because if your sure, your going to need a new truck every 3 years. Why not just buy and trade? It will cost you less that way. Depreciation and lease payment deductions on your taxes will be about equal if not better.
Plus after two and a half years you can go spec and order the new truck. Your salesman should have yours sold by the time you come pick up your new one.

 

The concept of a walk away lease by its very definition requires the business supplying the funding to take a HUGE risk that you are going to fulfill payments through to the end of the lease. Hence they have to charge a large premium (interest) in order to cover the costs of recovery and disposal in the event that you do walk away.
What risk are you taking?

 

Just about any mega company has walk away lease but you going to pay for that. Prime has it like $1,000 a week or something.

Running team just get truck and pay it off and dump it or take it in every 2-3 years.

I remember when I was at CR England a long time ago they had leasing deals. They has an extra charge for running over the miles that the lease had a limit on .Basically it was cheaper for teams to run all the miles and pay the extra money for going over the milage limit and then just trun the truck in and get new one. Most place probably have about the same deal today.

Basically it about the same deal if you buy a truck and run it 3 years and take for a new one. You won't get much money for truck with 700,000 miles. Who cares running team. Tade truck every 2 year at 500,000 miles and just get new one. It just the price of doing business. You will be making money money running team.

 

To the OP,

I suspect you aren't clear of the meaning of the word "walk away lease". In this industry, that means a lease purchase you can terminate at will.

As @Brandt mentioned, no one will be keen on offering you a no-obligations lease, unless there's a huge sweetener in the deal for them, which is expensive for you. If you want to try things out and play O/O for a while to see how it goes, you're pretty much stuck with renting a truck from Penske, Ryder, etc.

I THINK you may be looking for a "closed end lease", that is a lease with a defined lease period, after which you turn the truck in. You make your payments until the end of the lease, then you walk away. Walking away in the middle of the contract means buying out the contract -- which can be spendy, depending on where in the contract you are.

All manufacturers offer those leases, plus Ryder, Penske, etc. They come in a mind blowing array of options, from no maintenance to full maintenance with guaranteed replacement (i.e. truck breaks, they bring you a loaner one within a few hours to use until it is fixed). These aren't terrible deals if you negotiate hard, and the loaner bit can be very beneficial to a team operation. You will be paying rental fees on the loaner, in most contracts.

Tax wise, under the new tax law, there is NO, I repeat, NO benefit to leasing over buying. You can depreciate the whole dad-blamed truck and trailer the first year if you'd like. For tax purposes, the purchase option has much more flexibility.

As far as "walk away" ability, a truck you own is easiest to walk away from. Just put it in the Truck Paper at a good price, and it'll sell and be out of your life pretty quick.

 

Look at Schneider.

 

Bout the only walk away lease your gonna find is with WE Lease, Penske, Ryder or through a carrier. Ryder will lease to a business name so you gotta form a company LLC. Schneider has a pretty good walk away program... then theres prime..

 

Check out Baggett.

 

Some OEM dealerships offer a Full Maintenance Lease.

Volvo Truck Lease | Volvo Trucks USA

Full Service Leasing | PacLease

SelectLease | SelecTrucks

 

Technically it's not a walk away..it was a $5k early turn in charge..but got word they are raising that at start of this year too...