Sammons Trucking Lease purchase????

Discussion in 'Motor Carrier Questions - The Inside Scoop' started by michaelbunt, Apr 25, 2013.

  1. Ubu

    Ubu Road Train Member

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    Sammons lease plan is completely different then any other lease programs I have seen. They do not have a set payment per week on the truck, the payment is completely dependent on the weeks income.

    74% + FSC goes to the truck. Anything left from that after paying for fuel and maintenance is applied to that weeks truck payment.

    Only 26% goes directly to the driver. This pays off the truck aggressively when compared to a set weekly payment. You may take home less then $1,000 as the driver but you pay off the truck quicker.

    I guess I must have missed it, where has anyone said anything about the time spend out or running someone else's used truck?
     
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  3. JR OTR

    JR OTR Light Load Member

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    (From posts above)
    and
    To me that's time spent out and running used trucks. YMMV. Jim
     
  4. vangtransport

    vangtransport Heavy Load Member

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    Here's my 2 cents and yes I am a driver for them. I say driver because that's the reality as a L/O since I've been here. L/O's talk about it amongst ourselves but I have yet to see it posted any place, maybe because they are scared, who knows, I could care less, my dog makes more than me. From a strait business perspective, I wish I never signed up for this program. To suggest that they make nothing on leasing the truck is a little far fetched. A %12 rate on a rolling balance is hardly "nothing", if Sammons made nothing then why not do a fixed payment at the same rate they have the loan for and sell the truck for what they paid. Balances would get paid down faster if we actually had a choice on where to take the truck for repairs or if we did them ourselves, I heard the "more you can do the faster you can pay your balance down" line, but Sammons has the trump card, they hold the check book, with the threat that the bill won't be paid. All revenue goes through Sammons so if Sammons says it's this tire, then that's they tire you get. Want examples here you go: Steer tires, I negotiate a pretty good deal, they put what they want on, even though it's the same brand that just failed, and I have no clue what it will cost because I was completely looped out. If a guy can do a repair such as a EGR cooler, D*N will say it needs to be programmed so take it in, FYI, coolers have no electronics, so basically you will pay labor for nothing. If the goal is to pay the balance down as fast as possible, why not walk a guy/gal through some simple trouble shooting steps before recommending a shop, or get someone that can. Or if a few guys/gals have issues at a specific shop why keep recommending that shop. If a guy/gal calls and asks to put something on a MPV account to save money why say no. I keep hearing how Sammons doesn't run your business for you, they are just there to help, but that's not the reality. I get that unnecessary repairs are costly, but stuff breaks especcially when trucks are patched together to get past that 30 days, so when a person is paying %12, smile and pay the bill. It's late so I will end it here for now.
     
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  5. snowwy

    snowwy Road Train Member

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    used truck., new truck. doesn't really matter. neither one of them are YOURS untill you get the title.

    1200 a week with a new truck. and how cheap freight is. hmmmmm.

    like i stated. it's all in what you haul. it's not hard to beat sammons quote. the trick is to haul something that actually pays. and sometimes that's a BIG trick. cuz freight just wants to be hauled. it don't want to pay to be hauled.

    there are decent lanes. but most of this country just flat out sucks on rates.

    but let's be realistic. only trucking job i've ever seen that pays 1,000 a week. is oil and a few other tanker jobs. most of the other high paying jobs VANISHED 7 years ago.

    as for the repairs., i can see why. it's hard to get warranty work if a small shop fixes something and you have problems later on. and your on the other side of the country. most shops are only in the business of selling parts. they could care less if your fixed up or not. becuase you'll be gone somewhere else. you really need a warranty on repairs. and that goes with tires also. i had 5 recaps blow within 2 months in the sidewall last year. but they were bought from a big chain outfit who replaced those tires. no questions asked.

    but it pays big to repair yourself. paying TA $145 to change a clearance light on your cab doesn't help to pay off your truck. that's not smart business. sammons doesn't tell me when to repair. i just do it. whenever it's something i can do.

    i can see why the program of paying off your truck. lots of people come. and they don't last becuase of poor business decisions. 6 months later they either still owe the same amount or quite possibly even higher then what they started out at.

    as for staying out longer. you don't really need to. but when it comes to that aspect. it's the same as them mega carriers. take time off and your playing catch up with those weekly payments. only it's not like that with sammons. least you still get a paycheck. you can take time off whenever you want. but going home frequently and staying home. doesn't really get the truck paid for. although, if you can find the friehgt to run yourself like a regional company. and still be home on the weekends. isn't out of the question.

    there are sacrifices. but buying your first truck usually is. cuz most don't have money to just fill out a money order and drive away with title in hand.

    you could go out and buy some cheap OLD truck. but how about the sacrifices those guys make before it's finally a workable truck. cuz i've seen a lot of guys dump more money in them old beaters in there first 12 months then what sammons sells there trucks for.

    you COULD go to one of them buy here pay here dealers. have your credit run. and give them 5 phone numbers and all that jazz. with sammons. all you need is a decent safety score.

    sammons isn't in the business of 5 year truck loans. they're trucks are usually paid for around 2 years.
    12 percent interest on 5 years or 2 years. not everyone has good credit to just pay cash for a truck. and not everyone has money stashed away for breakdowns. which will kill you faster then poor business decisions.

    if you want a truck, don't have credit. don't have cash. and don't want to be a company beach anymore. sammons is a small sacrifice to make for truck ownership. and the b est part is. hauling what U U U want to haul and going where U U U want to go. and working when U U U want to work.

    sammons tells you 500 to 600 per week. that's not hard to beat. sammons will also tell you (during orientation) that you'll never run out of hours. i run out every week.

    i was skeptical too. but i'm glad i came. my income is a little better then what it's been the last 7 years. and no one is telling me what to do.

    i've met a few drivers. they all started out with the program. they now own there truck and have there own trailer and they're still working here.
     
    Last edited: Jul 14, 2013
  6. Ubu

    Ubu Road Train Member

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    It is complacently up to you if you spend that much time out, your post implied that you were forced to stay out. The recruiter was just giving an example that included a time frame. They do not have forced dispatch.

    You can choose to lease ether a new or used truck, if you don't want a used one pick a new one. How is ether that or the time out any different then any other lease program (other then some have forced dispatch), including the one you or on or did your program force you to lease a new truck?

    snowy highlighted the big difference that I see with their lease when he said "sammons isn't in the business of 5 year truck loans. they're trucks are usually paid for around 2 years." Their lease try's to get the truck paid off quicker at the cost of having a smaller weekly check for personal expanses. Not a choose for everyone but something I would prefer.
     
  7. vangtransport

    vangtransport Heavy Load Member

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    I'm quite sure a person can make $1200/week with a new truck & I left a job paying $1000/week to work here, I'll show you pay stubs/invoices for both.
     
  8. nightrider1

    nightrider1 Bobtail Member

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    Mr Snowwy i been here long enough to have met alot of drivers for sammons and i never meet a driver so happy on how things go on there at sammons....... ummmmmmmmm..... sound like you work in the missoula to me......... So could you tell me why for 25% off top what service does sammons do for you????????? Are you getting alot of calls from there agents???????? or are you booking your own loads via internet truckstop if so what loads are you finding.... oh dont forget we pay that out of are GREAT 26% cut oh........ dont forget pre pass.......oh........dont forget 2% for escrow....... What that driver said is the truth we all know what we signed up for BUT when you get here things change after that 90 day review.......


    sammons isn't in the business of 5 year truck loans. they're trucks are usually paid for around 2 years.
    12 percent interest on 5 years or 2 years. not everyone has good credit to just pay cash for a truck. and not everyone has money stashed away for breakdowns. which will kill you faster then poor business decisions.
    YOU SOUND JUST LIKE A SAMMONS RECRUITER

    I have yet to meet a L/O that talks like that.............. And i Bet you are.......

    I,m still here do to the fact i bust my ##### and making good business decisions..... i have got more loads from internet truckstop than there so called agents for loads.... if it wasnt for the fact that we can look for loads via other places half the L/O would out OF BUSINESS.......... And matter of FACT i look at internet truckstop so much i see loads on the missoula load broard that where on internet truckstop.........and this is what i GIVE......... 25% FOR.............
     
  9. vangtransport

    vangtransport Heavy Load Member

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    Last edited: Jul 14, 2013
  10. vangtransport

    vangtransport Heavy Load Member

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    I have seen a load on Internet truckstop and was called about the same load and offered $500 less at first, then $200 less by a agent. I booked it just to see the details and to confirm my feelings. I can see doing it for less if the situation called for it, but when the broker on ITS is raising the rate but the person on the phone isn't it made me wonder. No BS either, I'll back it up with texts to the minute and pics. Imagine that on a grand scale hmmmmmmmm.
     
  11. Sammonsrecruiter

    Sammonsrecruiter Light Load Member

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    10% down and you can go fixed payment.
     
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