Columbia buy out program

All I know about it is what my mentor told me-- which it turns out 98% of the crap from his mouth was wrong lol. He said those trucks are indeed 18 months then you own it. He said you are eligible to sign for one only after you have completed at least 1 lease term.
His plan was that I should take over the lease on his 2010 T2000 so he could go sign up for a 18 month Columbia and we each would set aside $0.10 cents a mile for maintenance funds which he would control and would release funds to me when/if I needed work done on my truck. He wanted to get several trucks involved in this way and if one truck broke down all the other trucks would help fix it. It would be a Co-Op arrangement so he wouldn't have to write up a business plan which Swift requires when you bring an outside fleet on. It is based on a huge amount of trust and faith that the guy you pay 10 cents to is actually gonna be there for you when you need your money to fix your truck. I guess I got a little sidetracked there.
The best answers are from Phoenix although good luck getting a response from those guys, they are so busy. I sent numerous emails and qualcomm messages inquiring about becoming an O/O for Swift while I was a company driver and got a big fat zero response. So I went about it my own unique way lol.

 

Your mentor sounds like he missed his calling in the Wild West as a snake oil salesman. Talk about being good for the lessor and not much for the lessee!

 

I called IEL about it around 2 months ago. $3000 down, $483 a week for 18 months, you own the truck. No warranty, but the standard 39 day shake down.

But there are no more Colombias. They only become available if someone goes belly up and IEL takes the truck back. They referb it and put it back out for sale. The sale could be less than 18 months, but they have to recover the referb cost.

The IEL recruiter did state that they are looking into the possibilty of another fleet buy.

 

What is up Mystic Brother.

What is IEP, what ever. What is involved in a refurbishment?

Take care out there...

MysticFog

 

That's IEL ... the leasing company that partners (owned by) with Swift. Not sure what the exact details of the refurb.

 

I would almost be willing to bet, new treads, cleaned up, new mattress and little things fixed. Something that a Dealer would do.

 

At a minimum ... plus B service and DOT inspection.

 

I have one of those columbias (its good and its bad) depending on how you look on it.

Refurbish - they repair the truck, new rubbers all the wa around, replace anything they see needs to replace (sometimes they mis things)

When you get that truck run it hard for the first 30 days (that's all the warrantee you have) anything break they fix (they going to tell you take it to a swift shop) its your truck take it to the dealer. If you take it to a swift shop its 3 days before they can look on it plus how many days to fix it. (Shops need to do better, open more shops 24 hrs) when you take it to the ealer tell them go over the entire truck fix anything wrong and send swift the bill. (After the 30 days you paying for everything)

Its a bad deal because its a use truck it might be gold and it might be lemon, if its a lemon after 30 days all repairs comming out your pocket, because you won't have they money it maint account to fix it. Swift will fix and then you repay them (that's if you don't have the money to fix it)

Ita a great deal you pay for it 15 to 18 months and its yours, so if you have to replace parts etc you know those parts are worth replacing because it will be your truck, the other trucks they have (volvo, new freightliner, kw) you pay 4 yrs payment then you have the balloon payment of 40 racks. That's almost another 3 yrs of payment if you get a loan. If you decide to train, would you want to keepb this truck that you train with for 4 yrs, (you will have to train or run team to make good money with this truck payment) good money to everybody is different when I say good money I am talking about over $2500/ week after all expenses. Somebody told me if he make $300/week that's good for him, so that's y I say good money is different for everybody. I take 2 week vacation yr sometimes more, but at the same time I run hard, when I'm on the road its strickly business when I'm home it play time. If you get the newer trucks they offering pay 4 yrs and decide not to pay the balloon payment, you just waste 4yrs of $600 to $800/wk plus maint and repairs PLUS the exessive mileage fee, 9cents per mileage all miles over 11K for the month . (You don't pay exessive mileage fee with the refurb columbias.

There are a lot more to it but hat should give you an idea what's best for you.