Lease Purchase

I can get you in a brand new 126 New Cascadia with driver lounge, APU, Built-in Frig, XM/Bluetooth/CD radio, with a 2.41 Axle Ratio (DT Rear-Axle) Disc Breaks (front and rear) Heated Mirrors (primary and hood) DD15 (505hp @1625 RMP ) with an DT12 Automated Manual Trans. and nearly all the bells and whistles for a little around 2,315 (give or take 1-200) a month. Or another way, 578.75 a week.

Granted that's with a down payment for $10,000, and 4.3% interest rate, and 60 months.

Just thought I would throw that out there.

You do make a point that you can "walk away" but you can "walk away" from SNF and lease on to another company that fits your needs better. Plus, the trucks you get from SNF are used, and beat to hell by other drivers. Just my 2 cents.

 

What is "SNF"?

 

Tbh, I kinda assumed it was Schneider Freight, but like what wife says... I'm probably wrong.

 

SNI, or Schneider National Inc., is the trucking company, and the biggest part of Schneider.

Then there is Schneider Logistics, the brokerage arm.

SFI, Schneider Finance Inc., is the finance arm of the company.

First correction for you, SFI trucks that are leased to individuals are never driven by company drivers.

Second correction, the trucks range from new to 3 yrs old. So no you don't end up with a truck that's all beat up, even if you pick a used one.

And, if you can get a first time truck buyer with an average credit score a brand new truck, with less than 10% down and a 4.3% apr, I want to know who your finance company is.

 

Wife, once again is right.

Thanks for clearing that information up for me!

As far as your question.

Yes, someone with not "great" credit would be required to put down a larger down-payment. Let's say for a $126,000 truck, and you put down 20% that's $25,200. With 7% in sales tax, and at worse 10% interest, you're still looking at a $2,329 per-month payment. Granted this is a 60 month loan.

If you like playing with fiance calculators here is my source for the financing:

Calculator

 

Your calculator is flawed because it factors 10%. I have an 825 credit score, proof of buying and operating a truck for 5 years and the best Daimler would offer is 16%.
I went to my local bank with the same information and got 5.8%.

 

How much extra for an included bulk equipment package, product pump, PTO, compressor, hydroPack, +hose rack, an equipment set that's all been selected and settled on from 3+ decades of proven reliability, installed on the same truck model in the same way by the same dudes that build the bulk fleet trucks. it's a package deal that leaves me close to zero questions about 'is it going to work out,' at the cost of leaving what probably could be an extra 25k a year on the table.

 

You'd have to ask the bulk fellas.

 

That's me trying to say Schneider Finance. SFI...

 

Let's not forget to add things to this $126,000 truck that matter to any O/O that cares about their equipment.

APU, bunk heater, full gauge package etc...

Then add dealer fees, loan origination fees, delivery fees, FET etc...