Anyone here complete a Lease/Purchase with swift?

So in answer to the question..so far........




ZERO, ZIP, NADA !!!!!!!!!!!

 

I don't believe the question was answered verbatim, but G/Man did a hell of a job giving more than enough information to fill the gaps, and then some..

 

The question was...........

Has anybody finished the lease AND bought the truck OUTRIGHT !!!!!!

No gaps to fill.

Yes or No is all he asked.........

 

yes sir... guess I was told.. 8)

 

If you can't save enough for a down payment, how do you think that you can pay a $800/week lease payment?

You are just starting out. You won't remain at $0.25/mile. We all had to pay out dues. Part of that involved earning our way up the pay scale. If you keep your nose clean you could be earning $40,000/year or more in only a couple of years.

You can save something out of every paycheck. Once you get into your own truck there is one very easy way to save money. It can easily cost $10-15 or more per meal that you eat in a truck stop. Get yourself a refrigerator/cooler and buy some food to keep in the truck. You can eat out of the truck for as little as $1-2 per meal. Put the difference in an envelope. If you eat 2 meals a day out of your truck you can easily save $100/week or more. As your pay grows, put more money into your truck fund. Once you start saving money it becomes much easier.

If you check out a truck before buying it there is little need for a warranty. You can do a dyno and oil analysis for as little as $200-400. Have a mechanic go over a truck once you decide on the one you want. It is much cheaper than paying for an extended warranty.

Many lease payments can run $800/week or more with all the deductions. You should be able to buy a truck with a monthly payment of less than $800/month. Take the difference and put it into a maintenance account. Don't touch it other than a major repair. You can save at least $2,400/month. The most expensive repair to a truck is usually the engine. Most over hauls run somewhere between $10,000-18,000, depending on the brand of engine and what needs to be replaced. If you can't save for a maintenance account will you have enough money to pay for an in-frame? How about replacing the transmission or clutch? You either need a credit line or cash on hand to handle any contingency. If you cannot take care of the expense you could be out of business with a major breakdown.

Most carriers will not hire new otr drivers until they are at least 23 years old. Some require drivers to be 25. I believe that you are only 20? Those who lease on owner operators usually have the same minimum age requirements as they do with company drivers. There is no need to get in a hurry. Take your time. Learn, save your money and you will be surprised at how quickly you can have enough put aside to pay cash for your truck.

 

Good post G/MAN, alot of good information.

 

G/MAN, I believe you're talking to the wall.

 

I believe you're making the wrong assumption. At least in my case anyway, great info.

 

I was referring more to the post G/MAN quoted in his last comment.