Schneider, new lease Pros ans Cons

I am looking at the Schnieder lease now, should have some numbers according to them in a couple days. Still haven't decided what I am going to do.

 

Lease purchase programs are hard no doubt. You need to be good at buisness and have a good driver manager to even stand a chance
but to say no one succeeds is incorrect
Here at transam we have over 100 people who have bought there trucks and have stayed on as O/O
. Many more have left with thier trucks and tried other things
there are 8 drivers who now own mutiple trucks all leased onto transam

SO IT CAN BE DONE


the biggest fault lies in allowing new drivers to lease trucks before they understand what OTR trucking entails
this accounts for the failure percentage

at transam you can lease trucks that have been turned in by others for as little as 6 months and at the end of the lease by it out lease yourself back to transam and keep on trucking

to be clear a new truck has a 5 year lease. If you lease said truck at the 3 1/2 year mark in 18 months the lease expires you can then purchase that truck at a reduced rate financed thru transam and cut your payments in half.
This doesnt fix the fantasy part of leasing a truck with under 100000 miles on it and becoming an O/O tommorow
and living happily ever after

 

Quote:transam pete:> Lease purchase programs are hard no doubt. You need to be good at buisness and have a good driver manager to even stand a chance but to say no one succeeds is incorrect.

BINGO! Just because you are good at holding a steering wheel in no way qualifies you to be successful in a lease. It is a totally different game from company driving, thin margins, high expense.

 

Schneider Finance is a way too high on their truck prices. Schneider the company is a very good to lease a truck onto, but their L/P rates are crazy high.

I know you really want to own a truck, but bad credit and no money is not the way to success as an O/O. You will fail 100% of the time

 

Yea Schneider finance rates are ridiculously high but still lower than Prime and CR england etc. Its a good place to start but remember that Schneider finance doesn't run you credit throught and doesn't report it to credit agencies which means that you could honestly walk out on a lease at any time and it would have no negative effect on your credit.. while on the same note if you leased for 5 years or 10 years with them.. it will not have a positive effect on your credit either.. so if you decide to buy from someone else it would be as if you're a first time buyer practically.

 

My local bank does not report anything on credit agencies with a commercial loan.