How does fleet leasing work?

Discussion in 'Trucker Taxes and Truck Financing' started by Regional, Jul 25, 2020.

  1. Regional

    Regional Light Load Member

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    How does fleet leasing work? Is there a mileage restriction? Can you upgrade your fleet often? Are the payments lower?
     
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  3. Eddiec

    Eddiec Road Train Member

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  4. Ridgeline

    Ridgeline Road Train Member

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    Why are you asking?

    Curiosity or wanting to start a fleet to become a billionaire?
     
  5. Regional

    Regional Light Load Member

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    I just bought five reefers. Now loooking to finance trucks
     
  6. JonJon78

    JonJon78 Road Train Member

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    So you already purchased 5 reefers but are continously on here asking questions about leasing and dispatching services?

    How come this stuff wasn't figured prior to such a big investment?
     
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  7. not4hire

    not4hire Road Train Member

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    We had up to five heavy-spec trucks at a time on full-service leases; first with IdeaLease (International), then PacLease (KW). We paid a monthly rate (based on the value of the truck, so it could vary a little from truck to truck) plus a meterage charge for distance (for maintenance, same for all trucks).

    We were responsible for damage, but not any additional operating costs, including tires, failed components (like the transmission I blew up) or related towing. We were able to negotiate a slight reduction in both costs based on volume. We had replacement trucks when needed, but that is a question of availability. We also had to switch out a couple of trucks as they reached the maximum mileage (~250,000 km IIRC) and the costs of switching over the driver, headache rack, tire chains, etc., was ours to bear.
     
  8. Regional

    Regional Light Load Member

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    Yeah Bc it is my side business
     
  9. Regional

    Regional Light Load Member

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    Great info. Thank you
     
  10. JonJon78

    JonJon78 Road Train Member

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    Just a little "side" business huh? Easy money!!! :p
     
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  11. DUNE-T

    DUNE-T Road Train Member

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    Are you looking to start your own company and hire drivers or give your equipment to another company who will supply drivers and run your equipment?
     
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