Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!

Your bank was charging at most 7% apr, probably more like 4.5%. SFI is closer to 17%. They also get an employee without having to pay health insurance or social security. After 6 months SFI/SNI sees a profit. They maximize profit if you complete the lease, but they profit in almost all cases where they get the truck back.

Your bank also has to follow SEC rules. SFI doesn't

 

but op of the other thread doesnt HAVE to take his truck to those areas tjough.

if it were me I'd research the cheapest flights relative to oc location to parkthe truck.

 

Not even sure it's offered anymore, but some of the most successful guys I encountered at SNI did one year leases with SFI. They were never concerned with owning a depreciating asset and focused their attention on freight.
Not saying it's wrong or right. Just saying. There is a reason some guys do well and some fail.
I have done it both, paid for truck, lease truck on the same program. They don't fail because of the lease payment, but rather their preconceived ideas of riches that no one warned would take work.
I would never recommend a lease at SNI for most, but most don't make it in this industry anyway. Company or not.
Unless your 1000 percent sure you want to own the truck, putting a down payment on any lease is ridiculous. Consider it rent until you figure out how it tastes, so to speak.

 

Did anybody ever find out what became of the OP of this thread?

 

no.

 

Yeah I did. I lost it. I turned a non-issue into a real issue, what with my broken hand. But I'm keeping my head above water and by the grace of God my bills are almost caught up. And I'm continuing to drive, albeit one handed but the pain is gone and I'll just wait for it to heal completely. In the meantime I'll keep working. But if I could do it over again I'd at least attempt to get a truck outside SFI, or stay a company driver altogether given my fragile financial, and mental.. state.

 

Keep after it.
You're driving an automatic, right?
If so, for the most part, it won't be an issue.
Good luck

 

Yeah I'm thanking my stars I actually chose an automatic now! Backing is a challenge since I steer with my right hand with my head out the window but I just back much slower now

 

And you shall become ambidextrous.
Well played

 

SFI at 17% is almost loan shark range. Is the finance manager there named Tony?

The owner of the company I used to work for did very well on the lease/purchase option deals.

5 years ago when I left the office and went back on my own, he was charging lease ops $2,750 a month for minimally owner op spec'd T680's.

60 mos with a 35k residual at the end if you want the title. That's right at 200k for a truck, that at the end of 5 years will have around 600k miles on it at the miles those fellows need to run in order to survive at $1.55 +/- all miles average.