5 Year Contract in Exchange for a New Truck

Discussion in 'Experienced Truckers' Advice' started by Lohse, Jul 1, 2022.

  1. 4wayflashers

    4wayflashers Heavy Load Member

    Mar 14, 2014
    Truck prices are in an anomaly right now tho. In 4/2020 you could get a 400,000 mile 2016 Cascadia for 25K. Who knows tho these could be the new normal prices for everything.
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  3. REO6205

    REO6205 Trucker Forum STAFF Staff Member

    Feb 15, 2014
    Get a contract and have an attorney look it over for you. If the deal goes bad the contract will specify what you're liable for.
  4. Western flyer

    Western flyer Road Train Member

    Mar 13, 2014
    The day you sign that contract, is the day you become a indentured
    Servant to him for 5 years.
    He knows that.

    No more buddy, buddy stuff. It's strictly business.
    As long as that truck is in his name,
    You better not piss him off.

    Your relationship before you sign the contract is gone.
    Now you have to pay all the bills.
    Completely different attitude
    Lohse, D.Tibbitt, haycarter and 4 others Thank this.
  5. Woodys

    Woodys Heavy Load Member

    Mar 16, 2010
    Tampa, FL
    Yeah, not sure how I feel about this. What's his angle? I don't know what your relationship is with your boss but people don't just give away trucks. Brand new trucks are stupid expensive today, even the cheapest build is expensive, let alone a w990? Even in 5 years with 500k miles that truck could still sell for $100k. What does your boss get out of this deal? He's not doing this just to be nice ...
    Lohse, D.Tibbitt, REO6205 and 2 others Thank this.
  6. Wasted Thyme

    Wasted Thyme Road Train Member

    Jan 27, 2020
    GOAT watching
    So basically you'll have a truck that is out of warranty and ready to be all sorts of work needing to be done on it. Dumb.
  7. 48Packard

    48Packard Ol' Two-stop Shag!

    Apr 19, 2009
    Could be anywhere
    In today’s world, I’d be leery of committing to anything for five months let alone five years.
  8. jraulpilot1998

    jraulpilot1998 Medium Load Member

    Aug 20, 2014
    All over U.S.A
    You are going to get a lot of Imput here.......my words of Wisdom to you are ; Do not sign the dotted line until a Lawyer of your choosing studies the full document. 2022 to 2027 is going to be "monster times" for the Trucking industry. Also consider your present Health status and your present realistic financial status.
    ( An Old poop here, retired 2020/ Vet/LEO/Trucker of 20yrs)
  9. kranky1

    kranky1 Road Train Member

    Sep 16, 2015
    Ontario, Canada
    I couldn’t describe the rush I’d be in to sell myself into slavery for 2 years in exchange for a miled out T600.
  10. TripleSix

    TripleSix God of Roads

    Apr 10, 2009
    Copied in Hell
    Forget about the truck for now. How is he going to pay you? You are doing a lease purchase. Who pays for the truck expenses? Fuel? There’s no point in getting a truck free and clear if you have to starve for half a decade.

    @D.Tibbitt, can you give OP a hand negotiating a workable deal?
    jamespmack, Lohse, D.Tibbitt and 4 others Thank this.
  11. homeskillet

    homeskillet Road Train Member

    Jun 1, 2013
    Dayton, OH
    If you are going to "retire from trucking in 3 to 5 years", why would you need a truck after the contract is up?

    Just curious. You do you.
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