I been wondering when someone here would have the squirrel to say that,...I bet there are somewhere between a dozen to a hundred for this one that did the same thing ...... key to grasping the "silence of the lambs" is when they fold at the knees there is no training for life on the streets in most of the training packages though we might find them at the package store ......
Judging from some of the questions that many lease operators ask, I doubt that most even read their contract before signing it. This is a business. You need to read ANY contract and fully understand the terms of the agreement BEFORE signing your name on the dotted line. Once you sign you are agreeing to all of the terms that are listed in the contract.
Really now...If you're having bad enough log violations to get them to step in and terminate the contract, then maybe you're way in over your head....You should have everything in order when you step up to sign on the dotted line....
Scottie answer your question for you. Exact words from rebecca at IEL "if you are leasing the truck or buying it throught iel and currently lease onto swift, you decide to leave you have two options turn the truck in or payoff the balance and take it". I had a conversation with her and they refuse to let me leave with the truck I currently have 6 months left to pay it off and I am not going to turn it in when its almost paid off. The reason I wanted to leave is because I found a local gig that I can lease onto be home everyday and make 2500 week after fuel and insurance, then I would call in or mail in my truck payment, I did the interview and every thing even have an orientation date with this other company and iel will not let me take the truck. When you lease your truck you have two sets of contract one for swift and one for IEL. Swift contract say you can provide service for other customers but you have to remove swift equipment from unit, (base plate, insurance etc). IEL contract say if you leave swift you cannot take unit with you unless its paid off.
I didnt know you could "buy" through IEL. Anyone want to address the last paragraph? "When you lease your truck you have two sets of contract one for swift and one for IEL. Swift contract say you can provide service for other customers but you have to remove swift equipment from unit, (base plate, insurance etc). IEL contract say if you leave swift you cannot take unit with you unless its paid off."
Normally most lease operators would make a lease payment for the term of the contract. When that time has come to an end, they've either saved enough money to purchase the truck for the stipulated residual value set forth in the contract, or secured financing from their bank or loan shark to pay off the residual value. During the term of the lease contract the truck is limited to 11,000 miles a month. All miles driven past 11,000 get a charge of $0.09 cents per mile which is set aside (wear and tear). If the lease operator chooses to buy the truck at the end of the contract that 9 cents is applied to the buydown. IEL doesn't discourage it nor actively encourage it, but a lease operator can call them up and get a payoff quote any time. Be prepared to pay prepayment penalties if you choose to pay off early though. I would still encourage anyone to acquire their truck from some other source than the carrier they pull freight for though. This way if for some reason your contract were cancelled/terminated you don't lose your whole business and have to start over somewhere else.
