Anybody leasing from SFI?

Discussion in 'Lease Purchase Trucking Forum' started by Highway007, Nov 20, 2023.

  1. Highway007

    Highway007 Bobtail Member

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    If so what has your experience been like? Have you been able to keep up with the weekly payments in this current market?
     
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  3. Rookie driver 956

    Rookie driver 956 Bobtail Member

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    As long as you have loads lined up you'll be fine. It's those slow weeks that kill you. Other than that I haven't had any problems with the truck or SFI.
     
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  4. 48Packard

    48Packard Ol' Two-stop Shag!

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    I would really think it over. Thoroughly.
    I paid off my SFI truck in August, and thankful I was able to. My business leader in Charlotte says he’s never seen such attrition. Some of it may be due to having no business sense, but much of it is due to market conditions.
    I’m no rookie, either. Been driving since ‘96 and with Schneider for the last eight years.
    Good luck to you.
     
  5. Highway007

    Highway007 Bobtail Member

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    I'm already leasing a truck thru them. Even with above-average rates I just can't seem to keep moving long enough to keep up with 1200.00 weekly payments. I'm about to very likely return the truck. It's either run at higher rates with less work or overwork myself with lower rates just to barely keep up. It's too much stress for me.
     
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  6. Highway007

    Highway007 Bobtail Member

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    And btw, my business leader there is HORRIBLE to work with.
     
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  7. gekko1323

    gekko1323 Road Train Member

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    You pay $1200 a WEEK? Are you sure? Because if you are, then you got taken to the cleaners. WTF?
     
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  8. Highway007

    Highway007 Bobtail Member

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    Well to be more accurate I pay 1100.00 a week plus 150.00 maintenance escrow which I can only use for maintenance or cash it out if I finish the lease. Which I likely am not. It's on a 2023 Freightliner Cascadia. I leased it over a year ago when it was bran new.
     
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  9. gekko1323

    gekko1323 Road Train Member

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    When I worked at Stevens, their new Cascadias were about $700 a week. Something is not kosher. You are paying $57,000 a year. A brand new truck depreciates about 20% the first year. How long is your lease for and what is the residual value when it's done?
     
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  10. Highway007

    Highway007 Bobtail Member

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    3-year lease and a 59k balloon payment at the end. I'm not restricted with being with a certain carrier though. I can lease on with any carrier. Not that it really matters at this point anyway. All of them seem to be affected by the current market conditions.
     
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  11. gekko1323

    gekko1323 Road Train Member

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    So you're paying over $230,000 for a truck. Okay...whatever floats your boat.
     
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