Leasing SFI Jul 22

700 CAD/week.
Not 1400.

 

I was talking about the Schneider plan @ $1400 a week all in….

 

What rate can you get from load relocation?
2.50/mile?
2500 miles/week?

 

Well yeah Canada may suck idk

 

And it's cold too.

 

When I said 0 experience, what I meant was with less then 2 yrs, one doesn't meet the minimum 2 yrs requirement for the job even if you had 20 yrs of actual experience.

With SFI, all you need is minimum 6 months recent experience to get a truck and to lease on to a company, there are companies that will take you with minimum 6 months experience. So, with just 6 months experience you can lease a truck but would not qualify for the 2 yrs that is required for the jobs you mentioned, is all I'm saying.

It may not be a better option at this point to be a lease op than company driver but doesn't mean that you'll go bankrupt doing it. The weekly payment is not JUST for the truck, it's also part of the maintenance fund they put aside for you. The truck payment itself is about 1k a week but if you can mange your money well, as long as you bring in more than 3k a week, you will not go bankrupt. You may not make much profit but at least it will cover your expenses. Will it be hard, absolutely. Is it impossible, absolutely not. And those good weeks, if you have them, one should plan the extra funds to go to payment for the week that you will be off.

 

The only thing more nuts than signing your life away on a $200,000 freightshaker during a bad market is doing so with 6 months experience.

There a millions reasons why but the simplest is with limited experience your goal should be gaining safe experience and mastering the art of doing this job safety.
That doesn't happen in 6 months.
In my opinion someone needs two full safe winters to go through and money saved up before even considering getting a truck.

Beyond the normal struggle during a bad market there's so much more one may not account for.
One example say a deer jumps out in front of your truck and your front end is wrecked.
As a company driver no big deal, they will still pay you. Many would be treated as breakdown pay and they will pay for your hotel.

You lease a truck and guess what, no pay and you're paying for that hotel and still on the hook for those big payments while you cannot work for lord knows how long until that situation can be resolved.

BTW grossing $3000 doesn't cut it, you still got fuel to pay which can be $1200-$2500 in a week depending.

 

I didn't say the only experience was 6 months. Remember our conversation started when you said you can get a good paying job with 2 yrs experience and I responded by saying that the 2 yrs must be RECENT, within 3 yrs time period. And again, the 6 months reference is RECENT experience so, doesn't mean that one would ONLY have 6 months experience. However, in theory it could be possible but in our discussion, no one only has 6 months experience overall. You can also choose your lane and NOT go north during the winter.

True they would pay me a breakdown pay for the accident as a company driver but it's peanuts and you have to go through a lot of bs going through lots of channels just to make sure you GET the pay. Yes, that is the risk of having your own rig, the cost is on you but more importantly, you will lose time until it is fixed. However, that is what you have to plan for and that's when the good week comes into play. It will be difficult if it happens in the beginning of your lease since you didn't have enough time to save but as time goes by, you should be able to withstand the downtime with no issues if you manage your funds well. Or, don't drive in the snow north and drive during the day so you can see the deer.

 

We will wait for you arms wide open all winter long.
Just bring some California oranges and we'll get the moose steak ready and the Kokanee beer too.
Note: You might need to be double vaxed and double boosted.

 

You don't build equity in a lease. If you're on payment 35 out of 36 and for some reason the carrier or leasing company decides to pull the lease or you can't make the payment, you've lost everything you paid and have no truck. That's a lot of risk if you're counting on owning the truck at the end. If you have traditional financing, you do build equity. If you pay it off faster than it depreciates it, then you'll get some of that money back if you have to sell. But keep in mind, trucks are still near their all-time high value. Prices are likely to fall quite a bit over the next year with the market downturn.