Leasing at Prime

We're paid on the longer deadheads. At times when freight was very lacking, we've been deadheaded quite aways... Boston to Chicago for instance. They repositioned a good portion of the fleet that weekend. It's been between 50 and 75-cpm.

The shorter deadheads can be anything up to 300 miles.

 

Well... I got asked the other day if I was going to need a "re-lease bonus." That's what ya get when you do the next one. I said, "Well, do ya get one of those when ya buy the truck?" Nope. Drat! 32 months down, 4 to go. On the up side, that conversation does make sure that my truck will not be on the auction list. That's what they do with the old trucks, and if you even have the slightest interest in buying your truck at the end of the lease, you need to make sure they know about it early. Once it's on the auction list, its gone. Gotta reboot my machine... something got screwed up in the browser editor...

 

Obvious Man strikes!

I don't believe any of the carriers offering leases or lease-purchase deals report to credit agencies. Third-party lease companies usually do. BigBadBill indicated that the industry-wide lease completion rate is about 1 in 10. I asked Fred in leasing about Prime's number, andhe said better than 2.5 in 10.

None of this is really surprising, since most folks jump in the deep end with no preparation. As I've pointed out repeatedly in this thread, the deck is stacked against you. If one thinks they might do this, start at the beginning, and read the entire thread.

I'm confused. $140,000 for what? It's a walk-away lease. The truck is turned-in, and the lease payments end. Your current revenue and escrow accounts are applied against your debts, repairs and detailing. From that you get a final statement.