Leasing SFI Jul 22

Discussion in 'Lease Purchase Trucking Forum' started by Roadpilot2021, Aug 1, 2022.

  1. Roadpilot2021

    Roadpilot2021 Bobtail Member

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    Hi Road pilots
    I’m looking into leasing a truck from SFI , they asks for 15k down and 1200$ x 156 weeks for brand new 2022 cascadia with APU including maintenance , I want to know opinions from experience truckers or someone shares his experience about SFI.
    The truth what some of you may hate it , I’m new immigrant to us with good credit score but light history, lenders make it impossible to lend me a commercial loan .
    SFI allow to run under outside authorities , the main point is to left myself up from company driver slavery and have a slight change to run my own small show for the ups and downs.
    Any advice or experience sharing is so appreciated
     
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  3. baha

    baha Road Train Member

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    They had a clause a couple of years ago

    in the lease purchase contract that was in it that said you had to be able to make the payments working for sfi for so many months before you can get approved to lease on to another co. So have a good lawyer ck. the contract you will be signing so that you can move your truck out of their deal to the one you have been looking at?
     
  4. drvrtech77

    drvrtech77 Road Train Member

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    First off all, non one works for sfi, they’re a truck finance/lease co..my contract never stated that at all…you can lease onto whomever you want to.
     
  5. Big Road Skateboard

    Big Road Skateboard Road Train Member

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    So 15k down, 4800$ a month payment, 202k$ Cascadia?

    IDK, but sounds insane to me. What about insurance?

    Company driver isn't slavery, and i would think it's a much better place to start than jumping into a purchase at this point.

    Good luck whatever you choose
     
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  6. ibcalm19

    ibcalm19 Road Train Member

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    You're are spot on $15k +($1200×156) =$$$202k = INSANITY + INSANITY = MORE INSANITY.
     
  7. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Thinking there's about a $70K balloon at the end too, if you want to purchase it. $215K financed would be a bargain.
     
  8. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    If you're good at managing your money you could make a go of it.

    If you plan on jumping over to another carrier, like Landstar, make sure you can qualify with them or someone else.

    All the people that tell you that you are "Insane", please ask them to provide specific better alternatives.
     
  9. Big Road Skateboard

    Big Road Skateboard Road Train Member

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    I said it "sounds insane to me". IDK S'hit about buying a new truck or leasing on to someone.

    I do know a guy could hire on for good money, work hard and save for a year, and have enough to buy a truck with cash.

    ATC anyway.
     
  10. trucknguy

    trucknguy Medium Load Member

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    New trucks are $200,000 right now, plus a wait time. Seems like a reasonable alternative.
     
  11. Big Road Skateboard

    Big Road Skateboard Road Train Member

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    Where will they be in a year? What will rates be in a year?
     
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