Schneider choice program orientation and getting truck Schneider finance

Oh dear, another one that doesnt realize that a lease is a TAX choice, not a flease choice. Miles restriction? News to me after paying of the last 2 trucks that were, oh my God, a Trac lease!
I CHOOSE to Trac lease my trucks. Pay them off like a purchase, own them outright at the end of the term, but have tax advantages when compared to an outright purchase.
Last time I looked, Wells Fargo doesn't haul freight, same as Daimler Truck Finance, so a "lease" does NOT immediately mean a flease deal from Prime etc. I go to dealers of MY choice, pick the truck of MY choice, and so on. Basically exactly the same when spec'ing the truck, haggling over price and other stuff, as an outright purchase. The dealer could care less if it is a trac lease or outright purchase, he gets paid the same.
So much incorrect information in a single thread....maybe a new record coming up soon?

Here is a quick comparison for those that can comprehend numbers...
ASSume truck is $100k for easy reckoning.
Truck purchase in January in first example, December in 2nd example.
Trace Lease, payments claimed back ($1500 PM) Outright purchase, 20% depreciation on a depreciating scale.
Year one $1500x12 = $18,000. 20% of $100,000 =$20,000 claimed in depreciation.
Year two $18,000 20% of $80,000 = $16,000
Year three $18,000 20% of $64,000 =$12,800
Year four, $18,000 20% of $51,200 =$10,240
Year five, $18,000 20% of $40960 = $8192.

Decembers example
Year one $1500 x 1 = $1500. As above.
Year two onwards, $18,000.

Not brain surgery, or so I thought, if you buy a truck early in the year...

Martin

 

No risk no reward right? I been a company driver for 4 years now and I can honestly say I've never really had a pay increase no matter what I do. Yeah you get a .01 cpm raise here or a 1% raise there but really a company driver willk never make more. Different companies, different pay scales. It always seems to stay right around the same numbers. So why not take a chance at maybe doing something different? Try it and if ya fail ya go back to being a company driver. At least ya can say you tried. You will never get anywhere working for someone else is the way I was taught. The only guy making money, is the owner, the guy on top. His profit is the only that that ever has a chance to expand and grow. Everyone below him has a fixed limit on how much they can make no matter how hard they work.

 

And, seeing as you are indeed "working for the man" as a lease operator, your point is?
Go elsewhere, buy a truck yourself that YOU spec'd out, lease it to where YOU want to lease it to, and make some money. The payments you quoted would have bought me a fully decked out Western Star bud, and I had a heart attack at the $163k sticker price the dealer quoted me!
My current rig, a brand new Western Star with 3500 miles on its clock currently after driving it home from the dealer in Washington where I bought it from. Costs me $1500 PM, and last year I grossed $245k on 100k miles. You figure it out, but hopefully that opens your eyes a little to what is actually out there for the asking, when you are willing to work for it and want to break those ties to "the man"

Martin

 

I don't have the credit nor the money for a down payment to lease out a truck like that or I'd do it. Now I know your gonna say "save your money an buy a truck out right then" we'll as a company guy living paycheck to paycheck there is no chance to save any money. I'm lucky if I have $10 in y bank account by the time my next gets deposited.

 

Relax I was talking about a general run of the mill flease from (insert bottom feeder here.) Not leasing from a dealer as those are two entirely different things.

 

What are your payments a month on that? At that price and paying someof the other prices I've seen here of 1500 a month it would take you 10 years to pay that off.

 

And to that, I am speechless.
This is why bud....
I moved here from England in 1999.
NO credit, which is worse than bad credit, pretty much had to start at the bottom, as no one would give me credit for previous European experience driving.
Now, 14yrs later, married with 3 great boys and a supportive wife (who found the new Western Star BTW!), all vehicles paid for outright, a 15yr mortgage, and a brand new ride in the driveway. Always easy? Hell no. Stick at it though, and you'll get there.
I honestly will NOT listen to anyone go on about credit etc, when I came here with nothing, no home, no job, and so on. Hard work, smart decisions, and of course some good luck, allow my wife to stay at home with our kids, take a week or so off every 3-4 weeks, have medical insurance etc, and so on.
You took the words out of my mouth though, save up to get a good deposit and stop being someone else's sucker. Change companies, save some cash, put a hefty deposit on a truck, move forward.
If all you want to do is swing doors, then by all means keep on doing it. Your bank balance reflects it.
Want to make a change and sweat for a living in summer, freeze your butt off in winter, get wet when it rains, and be paid accordingly? Shoot me a PM and I will offer all the help and advise I can.
Cant say fairer than that can I?



Martin

 

You said lease, not flease.

Hmm, lets make some common sense assumptions here, seeing as I have driven a little while now....
Not sure what you have seen, but here are some FACTS:
$100k truck, brand new 2009 model, never registered thus has full factory warranty. A KILLER deal on a brand new Western Star.
$18k trade in on my old truck.
$1500 a month, for the standard 60 months.
Now, excuse me if my calculator is wrong etc, but that equates to $90k in 60 months at $1500 a month......
Now, you have to remember this isnt some company sticking it to me, this is me calling about a truck (well my wife called about it first), discussing all the details of the deal, and finally getting financing arranged to give the dealer a big fat check.

Martin

 

Ah you said 163k above. I was going off that number. 163000/1500= 9.08 years of payments.

 

Got ye. I was quoted $163k for a Western Star. The payments on that would have been @$2500 a month with an outright purchase and @$20k deposit/trade in. Payments would be less with a Trac lease though, maybe @$2000 a month for 60 months. This is all guessing at @5% interest rate too.

Martin