Leasing SFI Jul 22

OP did you decide if you were going through SFI or not?

I decided to go through with them for the reasons I posted on my previous posts and will be getting my truck and signing my life away in couple of weeks. It will be tough to make those weekly payments but in the end, unless if you can get your own financing through a bank, it's almost the same as financing it through a dealership. But financing it through SFI, the debt will not show up on your credit report, which, I think is a good thing.

 

Since my other post is not posting, @Roadpilot2021, did you decide what you will be doing? I'll be starting soon and we'll see if i can make that hefty payments each week with these low rates.

eta: Now that I posted another post the other post shows up.

 

Update?

 

What did you want to know? All I can say is that once you sign with SFI, you just signed your life away. I suggest not to take it to major carriers that have company driver since you won't be making money, or at least, very difficult to do so. If at all possible, if you can get your truck other than SFI, I would suggest that route since you will have a lot more control over your payment and your truck as far as what you want to do with it. Payment will be lot cheaper and you're not stressed to make payments each weak if you went another route,

 

you’re not “building equity” as you put it.

A commercial vehicle is like anything else with an engine and wheels/tires…it is a DEPRECIATING ASSET.

Depreciating assets don’t suddenly buck market trends and start building equity (with exception to VERY RARE collector cars like a 67 Corvette Stingray with sub 20,000 original miles on the engine and body).

Some of you all need Dave Ramsey in your life and badly.

Take his Financial Peace University class (9 week class, 2 hrs each week). You’ll learn a lot more about money and insurance than you ever knew. Turn on his radio show and just LISTEN for a few weeks. You can download the Ramsey Network app to your phone and listen anytime in the truck for free.

 

"I’m new immigrant to us with good credit score but light history, lenders make it impossible to lend me a commercial loan". Me too!!! you read and write English, don't you ? you qualify to read more about this topic before making your decision. I was in your position about 10 years ago and after I did my research, im so glad that I decided to buy my first truck with cash. I learned the in and outs as a "power only" just for a little while. then I bought 2 more trucks . Then, I sold all of them and I bought me a newer truck and I new reefer. Im 100% independent O/O. I don't want to tell you what to do , but my way is the best way , in your situation.

 

This is the right way to do it. Going through SFI is tough and hard to make payments and they will nickel and dime you for everything. They are a dealer, so like any dealer, they are there to make a profit and they do that very well from people who think they will make tons of money leasing onto a company. It's been tough for couple months, there were several weeks where I only was able to make truck payment and fuel, I put in a full 70 hours and ended with a big fat zero dollars after all the cost was paid. So, the above quote is the way to get a truck not through SFI.

 

Dup post

 

The rich get richer and the poor get poorer
But why ?

 

Wow that’s expensive as hell. Did you try TEL? They’re a lot less expensive to walk into a truck. I spoke to SFI but it was too much money. Especially now with these S rates n fuel so high.