Penske full service lease

Discussion in 'Ask An Owner Operator' started by PacMan777, Feb 9, 2023.

  1. PacMan777

    PacMan777 Bobtail Member

    Oct 13, 2021
    Before you guys flame me, yes I used the search bar. Only info I found was a few years old, specific to a penske lease.
    I've been flirting with the idea of getting my own truck, in pursuit of freedom from being a Co driver and of course the gross potential. I've tried reaching out to penske but they really didn't disclose too much without going in their office. I dint want to go in person quite yet just to avoid the pressure. So what I'd like to know is a few things. What is their down payment/deposit requirements? Roughly a cost per month for the lease? Is it worth it?
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  3. Judge

    Judge Road Train Member

    Mar 19, 2014
    Newport, Ar
    ducnut Thanks this.
  4. Ridgeline

    Ridgeline Road Train Member

    Dec 18, 2011
    The last I was told when I asked them they won't lease a truck to an un-establish business meaning less than one year of producing revenue.

    Why lease?
    Siinman, wis bang and TheLoadOut Thank this.
  5. buddyd157

    buddyd157 Road Train Member

    May 25, 2017
    under a shade tree
    it's called "cold calling" when someone like you shops around on the phone, rather than in person.

    when i did a few months at Ryder as a yardman, the business office wanted you to come in, sit down, have a coffee and relax.( i worked the office a few times to learn the business)

    too many questions for them to cover all that you need to know, over the phone.

    when i did some time with Ryder yes, it is true, they want established business people first and foremost, to cut down on the overall costs.

    as a driver with a company that HAD Penske, same rules applied. i want to lease out a truck myself at both places to run for the company RPS (now FedEx Ground) but was told substantial money down, and monthly payments were required for at least 1 full year.

    so go in person, is your best way.....but do not expect discounted pricing, for established accounts.
  6. TheLoadOut

    TheLoadOut Road Train Member

    Nov 6, 2019
    You're better off where you're at for now
  7. PacMan777

    PacMan777 Bobtail Member

    Oct 13, 2021

    I'd rather lease than finance because the maintenance is all included. Sure I'd be paying more than a standard loan but if something expensive breaks or needs repair I don't have to come out of pocket thousands upon thousands upon thousands to fix it. It's all on penske.

  8. wis bang

    wis bang Road Train Member

    Jan 12, 2011
    Levittown, PA
    Worked for a company with a dozen Penske leased full service units with free rental while yours is in the shop...if they have one to loan.

    We had 9 tractors at $1600 each a month and 3 class B units.

    They took an automatic electronic bank transfer at the first of the month adding in any repairs deemed negligence, etc. Surprise!

    If you are new and possibly under funded they don't want you.
    Siinman Thanks this.
  9. buddyd157

    buddyd157 Road Train Member

    May 25, 2017
    under a shade tree
    be careful, they all get mileage charges...yes, they had limits as to how many miles per year you could run them under thier leasing program.

    you'd be wise to inquire about that, and pay the extra fee's for going over that limit.

    this was one thing my last employer had to deal with,

    he had to switch out drivers who's routes were longer than others, to cut down on the over-charges.

    my customer had 3 of us for his routes, and we were never bothered with switching out to older trucks, as we always got the new ones, and the other drivers got our "hand-me-downs"
  10. Magoo1968

    Magoo1968 Road Train Member

    Mar 18, 2021
    St Malo mb
    A buddy his company uses Penske. He breaks down on Monday and normally within 2 to 3 weeks he’s fixed up . PS many locations don’t have the loaner truck available. He doesn’t mind he jumps into a 10 year old spare truck that he likes more anyways lol.
    buddyd157 Thanks this.
  11. Siinman

    Siinman Road Train Member

    Mar 5, 2017
    Kansas City, MO.
    Lots of Dealers will do that kind of lease but it is gonna be hard for a starter guy. As others have said you will not qualify without and existing company more than a year old.
    ducnut Thanks this.
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