Surprised at Prime Lease Purchase

Discussion in 'Lease Purchase Trucking Forum' started by texasmorrell, Dec 14, 2019.

  1. IrreverentCrawfish

    IrreverentCrawfish Light Load Member

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    Jan 31, 2017
    'Merica
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    Current Prime lease op here. When I asked leasing about taking my lease truck to another company, they said that it's allowed with a catch. Success Leasing (prime) requires that the new carrier that you're leasing onto agree to pay the truck payment on your behalf as a settlement deduction. From what other drivers tell me, Landstar, Mercer, and Schneider will NOT sign on for that. One guy said he managed to get Greatwide to take the deal, but I can't confirm that.
     
    James j Thanks this.
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  3. markers

    markers Bobtail Member

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    May 23, 2013
    Ohio
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    I know a guy at greatwide who has a prime lease truck. Met him once or twice. Nice powder blue cascadia.
     
  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    May 4, 2015
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    A big one. Like $70K.
     
  5. Dave_in_AZ

    Dave_in_AZ Road Train Member

    55,285
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    May 4, 2015
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    Bigger than $4000 month?? But there's a fuel bonus right?
    lmfao
     
  6. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    May 4, 2015
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    Our FSC is typically in the low $0.30 mile, but the agents can bump it up, and a lot of the stuff my trucks pull is in the $0.40 mile or better range.

    I don't think I've ever pulled a load for under $0.28 mile FSC.
     
  7. texasmorrell

    texasmorrell Medium Load Member

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    May 3, 2012
    Lone Star State
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    Dude! There is no balloon in the lease purchase. After 3 years you have a truck that’s only 3 years old and no more payments. That’s when you really start banking money.
     
  8. texasmorrell

    texasmorrell Medium Load Member

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    May 3, 2012
    Lone Star State
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    $4000 per month is standard on a 36 month note on a brand new truck. Do the math.
     
  9. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    May 4, 2015
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    You're forgetting the $70K buy out there chief.
     
  10. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    May 4, 2015
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    Dude! You're also not including the $500 month APU payment.
     
    unloader Thanks this.
  11. texasmorrell

    texasmorrell Medium Load Member

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    625
    May 3, 2012
    Lone Star State
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    Dude! I’m not sure what’s wrong with you. But you seem to have difficulty understanding simple things. There is no buyout. I’m sitting in my truck right now. I have read my contract at least a dozen times. There is no buyout. Once I make my last payment they give me the title. With my $14k down payment and all of my weekly payments I will pay $158k for my brand new Pete. This is lower than what the finance company quoted me with their interest rate. I understand you want to disparage the deal because you are probably too afraid to go through with it. But you are doing a disservice to others by intentionally spreading false BS. Please just go away if you’re not going to acknowledge simple facts.
     
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