Anyone Leasing a Tractor From RYDER or PENSKE?

Discussion in 'Ask An Owner Operator' started by Big Herb The Trucker, Aug 22, 2017.

  1. Big Herb The Trucker

    Big Herb The Trucker Light Load Member

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    Want to know of anyone's experience leasing from Ryder or Penske? Price per mile after payment, Breakdowns etc....
     
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  3. MM71

    MM71 Heavy Load Member

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    Full service lease will be a weekly charge plus mileage. No maintenance charges, they will charge for damage though. PM's and Road Calls on Ryder / Penske's dime, but are also on their time. Ryder PM's average 4 hours in my experience, road calls YMMV ... but having them bring you a loaner on a hook if the truck will be down for a while can be a life saver. Your payment will vary based on truck model, year, mileage, and your negotiating talent. Same goes with the cpm charge. For something new expect between 6 and 700 a week plus around 7cpm for a full service lease. Pay attention to the contract, Ryder likes to sneak in a clause that nearly doubles your mileage charge if you exceed "x" amount of miles per year. If you have not been in business for a while, and or have poor credit expect a hefty deposit or a flat refusal to lease to you.

    Non full service leasing ... I would go do a lease from a dealership.
     
  4. Big Herb The Trucker

    Big Herb The Trucker Light Load Member

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    I thought they charged a monthly payment plus miles? Aren't the rental rates paid by the week?
     
  5. Sharky88

    Sharky88 Heavy Load Member

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    Nope they rent by the week. Our negotiated contract rate is $760 a week plus .10 a mile. It's way more expensive then buying a truck
     
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  6. Big Herb The Trucker

    Big Herb The Trucker Light Load Member

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    I was talking about leasing not rentals. Yeah I now they rent by the week. Ryder has a special going on now on used Tractors to lease. Day cab's are $1,499 and sleeper's are $1,599 per month all maintenance and tires included. Plus mileage charge of course..

    Click link below for details.
    LIMITED TIME OFFER
     
    Last edited: Aug 22, 2017
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  7. MM71

    MM71 Heavy Load Member

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    In my experience ... Lease is paid weekly by auto draft. Mileage is Paid monthly. I guess it all depends on the terms you negotiate. You can negotiate lease term. Longer the term, usually lower the payment to a point. For me 1 year was not worth it. and the difference in payment between 2 and 3 was so negligible that a 2 year lease was a better deal vs keeping the truck for 3.

    I would be super wary of a 4 year old Ryder truck. I've had rentals / loaners with less than 70k on them that were super torn up.

    You also have to stipulate in the contract what speed you want them turned up to and any rerate in the HP. Do not be surprised if they are set with a tune lower than the factory rated HP.
     
  8. Spartan0229

    Spartan0229 Bobtail Member

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    I almost got suckered into a lease with a Bobtail with Ryder. $1300.00 a week. I can only imagine what it is for a tractor in Texas.
     
  9. Big Herb The Trucker

    Big Herb The Trucker Light Load Member

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    The rates are $1,499 day cab and $1,599 a month sleeper on used 2013's that sounds good to me. If I breakdown and they can't fix it fast enough I get a replacement for free from what i'm hearing. When your going to be new like me one less headache is the way to go.
     
  10. Big Herb The Trucker

    Big Herb The Trucker Light Load Member

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    If that's the case and I have to pay weekly I would just go to Volvo and try and get a full maintenance lease.
     
  11. MM71

    MM71 Heavy Load Member

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    It all goes back to negotiation, and who gives you the best deal for the equipment you want. Ryder let me spec out a truck cheaper than I could get it from PacLease ... and allowed a shorter term. I've rented from a Volvo/Mack dealer ... and their short term rates are less expensive than what I can get from Penske, Ryder, or PacLease.

    That $1499 special is pretty inexpensive. As long as they have not gone crazy with the cpm charge to make up for the lower monthly cost.
     
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