swift and the lease purchase

Yep ... and it's wonderful thing.

I'm averaging over 7 mpg. As the fuel prices go up and the FSC goes up, my fuel cost as percentage of revenue is going down.

 

.35? the msg i just got said it was just below .33. just out of curiousity, how often do you see that message?

 

I don't. I was talking to a Swift L/O friend on Tuesday.

 

well, dont listen to everyting a L/O tells ya, and take that as 100% accurate. just like company drivers who want to beat their chest saying they get 3000-4000 mi a week on average, the fuel rebate isnt .35. the driver might be rounding up.....but its not .35. will have to look but fuel will have to get to $3.50 or there abouts to get .35 in rebate....

its on schedule c in the lease....but i'm too lazy to go pull it out right now.

 

ok..just looked it up...$3.42 for a national average. and i know swifts national average isnt what the true average is. Last time i looked, the surcharge wasn't .35....just sayin'

 

I may go lease. How long are you allowed to keep the truck after you pay it off is one big question. The reason I think its good is if you want your own truck why not do this, yes its goin to have 500k or so when you pay it off, but you know how the miles were put on, and how the maintanence was done.

 

you're allowed to keep the truck on as long as you (or they?) want. My guess is they'll start starving you miles once you do get it paid off (if not before) But its revenue for them to have someone running their freight AND paying the overhead on the truck at the same time. Sure would be nice to get this truck paid for....thats $27,000 in my pocket each year.

 

My question is do you mean after you complete the lease and find outside financing for the truck payoff...(approximately [very ball park figure, many many variables] 35k). Keep in mind IEL (Swift leasing division) will no longer finance the purchase of the truck, so you will need to save during your lease period the necessary down and find financing...or save really well so you can pay off the purchase with cash! There are many Swift O/O's who completed their lease and purchased the truck and are still with Swift as an O/O. It can be done...Swift's ony requirement is the truck be in the required age range to be leased onto Swift.

And your 500k mileage estimate at payoff is very very low...after the lease (5 years...or just short of 5) plus the time it takes to finance the payoff balance...probably looking at 750k on the truck.

Unless you really get on a DM/FM's bad side, your mileage shouldn't fall off. Swift wants their freight moved at a profit...nothing more profitable than a L/O or O/O doing the hauling!

 

You put a truck on with them it can stay forever as long as it passes inspection.

They will still finance.

 

That is what you'll have on it when the lease is paid off. Then you have to buy it.


So you are paying for the truck twice. Smart business!
You may get a used one and do the lease purchase as some can't cut it as a L/O.

Would you like a red T660? One should be coming up for lease soon.