Input on Swift Lease program??

A Swift Lease / purchase. It just sounds doomed for failure.

 

Most lease programs, from anyone, is doomed to failure.
Not just Swift.

 

And you know this HOW?

 

With regards to me, this is my 2nd lease with Swift. I completed my 1st lease in Jan 2016, worked for 4 other trucking companies PLUS Swift (as an academy instructor) before leasing another truck.

I had a company driver tell me how she used to lease a truck but makes more money as a company driver. I also spoke with another O/O (25 years with Swift, on his 4th truck) who said "It's not about the money, it's about the freedom" which is my sentiment EXACTLY.

If you think leasing a truck will allow you the freedom to idle your truck as much as you want you're correct, but you'll never make any money. I averaged 7.65 mpg over the 4 years I had my first truck and last time I checked was averaging just over 7.8 with my current truck. THAT'S how I make money, by not spending it on fuel.

Also, I DO NOT consider it a "lease-purchase". The residual for my current truck in neary $60K at the end of my lease. The LAST thing I want to do is own a class 8 truck. Leasing makes the book keeping and tax time MUCH easier on those involved.

If you're happy as a company driver, GREAT! But unless you have first hand knowledge experience paying the bills on your own truck don't go around telling anyone who'll listen the "You're doomed for failure".

 

It's not a "lease / purchase", it's a lease. There is NO PROVISION or guarantee that you'll be able to purchase your truck at the end of the lease. At best it's an "option".

 

Working at a small company, and seeing the #s all the time, I can tell you.

Run the #s, CONSERVATIVE estimates, then see if it'll really pay much more than being a company driver.

 

When I leased my first truck from Swift (IEL) in 2012 I doubled my pay overnight. What changed is Swift is actually paying their drivers a decent wage now (about 60% more than what I was making in 2012 as a company driver) yet O/O pay is only about 10-15% more. My weekly fixed costs are $75 more for this truck than my 1st truck.

I'm not in it for the money (I was making a steady $1500 a week hauling mail, a job I HATED!), for me it's all about the freedom. I can go home as much as I can afford to. I don't have to even look at their silly fuel routes. I enjoy the constant mental gymnastics necessary to run a business, even my 1 truck operation.

And like I said before, it's NOT for everybody.

 

well said. I was at roehl and ran pretty conservative numbers, came up with about 6000 a month income if I ran 11k miles... But then again I was making 53cpm as a company man so...

If you don't mind me asking, does swift pay you percentage or mileage as an o/o? folks say it's 1.20$/mi avg... is that accurate?

and what's this about swift raising their pay? I called 6 months ago... they said 2500 miles a week @ 43cpm in a reefer running nationwide. do you have the payscale? latest one on this site seems to be from 2014 lol.

 

I’m not going with Swift. But I understand and agree with your reasons and thinking. I’m leaving a steady income also.

Most people state freedom. But the vast majority quote numbers. Like they’re in it to get rich

 

There has never been a Lease Purchase through the carrier that was ever designed to help the driver... now there are some lease to own programs through private dealers that aren't too bad but I would never go through a carrier..