Surprised at Prime Lease Purchase

You are forgetting about the weekly fuel bonus. It brings your cost for fuel down to 90 cents per gallon as long as you average 7 mpg or better. That can easily be $1700 or more each month if you average 2500 paid miles each week. The weekly rental charge also includes all your insurance and Qualcomm.

“The equipment is designed to be comfortable, efficient, and to have a good resale value. Here are some examples relative to purchase financing. If the Contractor could purchase a comparable 2019 Tractor with no money down for $145,000 and finance at 13% A.P.R. for 48 months, the base payment would be $895.00. Additionally you need to add the costs of physical damage insurance, license and permits, safety equipment, and Qualcomm rental. This would bring yourcomparison total to about $1000-1050 per week (variance created by price ranges in obtaining insurance and Qualcomm unit). Financing the unit for 60 months at 13%, the payment and interest would be $760.00 per week plus physical damage insurance, and Qualcomm, bringing the weekly total to approximately $875.00.”

“Fuel and Oil
This budget cost is based on fuel fleet average purchase $2.10 per Gal @ 7.5 mpg
(Fuel surcharge formula. $2.10 - $.99 / 7 = .16cpm) .16 cents x 7.5 miles = $1.20 off the $2.10 leaving the contractor paying .90 cents Per gallon. Driver uses 1 gallon per every 7.5 miles driven. .90/7.5= .12 cents per Mile.”

If you’re doing a standard lease they will give you a check for around $30k at the end of the lease or if you’re doing a lease purchase you will be handed the title to a truck worth $60-70k.

 

No balloon payment option. Or you can choose smaller payments and have a 20% balloon.

UPDATE: No more balloon payment option. Just got off the phone with them. They are all $100 buyouts now. Payments will be bigger or smaller depending on if you do a three or four year lease but that’s the only option you have now.

 

Actually, they are a reefer, flatbed, tanker, intermodal outfit. But you would know that if you bothered to check. Just messing with you.

 

Your correction was further down the thread and I read it after I replied to your post. I stand corrected.