Leasing from Penske?

There is a guy on a different forum that started with his own truck, own authority a few years ago. He found that there was an opportunity in his area, so he started growing his business. He claims that he can lease trucks cheaper than he can own them once everything is accounted for. His financial resources are free to use for operating the company that way. I remember him saying that when a truck breaks down, the driver calls the lease company, they bring out another truck and swap. The freight is usually back in transit before he finds out the truck was down. I checked on his thread a while back, he had 20 trucks on order. So, there is something to it.

I have never priced a Penske or Ryder lease or rental. It would be worth knowing though. Especially with today's engines. With today's new trucks getting better fuel mileage, there might be a few guys out there that could calculate the fuel savings+the repair costs of their older trucks and find out they could be driving around in a 2016 for the same or maybe just a little more money out of pocket. Not saying this is true, but a good business owner leaves no stones "un"turned.

Personally, I would LOVE to hear more info on this. Who all leases trucks? Penske, Ryder, who else? I'm pretty sure the manufacturers do as well, but I've never inquired about it.

 

I started out hauling crude oil for Sunoco. All of their crude trucks were Penske lease. Many of their regional yards had a dedicated shop on location.

It's a guess, but just about any of these big companies that replace trucks every 3 years...good chance that they're leasing from somewhere.

 

The company I work for pays cash for their trucks. They keep them for 3 years and sell them with a little warranty left in them. From what im told the dealer ship normally strikes a deal with them to buy x amount of trucks back when they buy a new batch and the rest they sale out right.

 

As someone already stated here, the individual who goes into Penske is not going to get the same rate as a larger company does. The company I worked for previously had a month to month rate negotiated whenever they needed an extra truck. It was $2,600 a month and .10 a mile.

 

I had to rent a truck last month while mine was getting the overhead done. Rented a Prostar from RWC here in Phx.
Picked up the truck on Wed. & returned it on Fri. before noon. Drove approx. 900 miles.
The bill came to $480, plus $310 for fuel (I refuel myself before returning truck) and $75 for the insurance through my insurance carrier.
RWC is only a mile from my shop, and is much cheaper than Penske or Ryder.

 

Ouch, $480 for less then 2 days. Hell I need to start renting trucks for a living.

 

And I had to worry about the Maxxfarce shutting down on me!!

 

Do u still lease from penske. I'm thinking about leasing a tractor from them to put on with fedex. What's the payments like. I know they want 5k down.

 

R u still leasing a tractor from penske. I'm considering getting 2 sleeper tractors to put on w FedEx. What's the monthly cost n do they cover maintenance. Looking to do longterm lease

 

If you know your truck is going to be in the shop for a week or so it might make sense. I have a dealer that will rent one of the older used trucks on the lot if I use his shop, just for a few days local work.