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?
Penske full service lease
Discussion in 'Ask An Owner Operator' started by PacMan777, Feb 9, 2023.
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Judge Road Train Member
- Mar 19, 2014
Read contracts carefully.
or have a lawyer go over before signing.
FindLaw's Appellate Court of Illinois case and opinions.
Fair Market Value
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.
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.
TheLoadOut Road Train Member
You're better off where you're at for now
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.
wis bang Road Train Member
- Jan 12, 2011
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.
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"......lol...lol
Magoo1968 Road Train Member
- Mar 18, 2021
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.
Siinman Road Train Member
- Mar 5, 2017
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