swift and the lease purchase

you dont get any 'discounts' at truck stops. Based upon what swift says the national average is (prob. based from what they're selling fuel at their terminals) they tell you every week what that weeks 'fuel rebate' is. Don't think i've been running 13 full weeks, but i've already dropped $13k in fuel. I get about $6k back in fuel surcharge but i'm paying for $7k of it. I tend to fuel at terminals as often as i can, since they're usually .10c cheaper per gallon.

 

120k per year....you aren't making any money are you? I averaged 150k and did fine...anything less I was scraping to have tax money available or have $$ to take home for the family. And that was with a $465.00 weekly payment, not the nearly or over $500.00 per week I hear they are set at now.

After your 48 months of lease payments...trust me, Swift/IEL owns the rig...you really can't believe you are making the equal lease payments that IEL/Swift is on the deal they set up for the trucks as a fleet price do you?

It is a lease with the OPTION to purchase at the end of the lease...or didn't you read the contract.

The buy out is figured at 38% of the book value NEW!

The 48k you are claiming is called the "balloon" or "buy out"....and there are more "fees" associated with the buy out. If you don't buy out the truck...you lose any and all "excess miles" charges they dinged you for during the lease.

There is a lot more...a whole bunch more to leasing than just making the weekly "rent" on the truck!

 

it would seem that it is a lease designed for you to drive just at the miles required so you dont end up paying the extra $$ if you go over(cause it is a leasefrom the manafacturer) and not really designed to be bought out at the end,but to be just turned in and start the process over again---if you made enough for the down payment

 

Thats the problem with drivers who lease a truck just to impress their friends. I'll go out on a limb, and tell you that you know who most of those kind of drivers are. They are the same ones who'd go get tattoos all over their arms to pretend they are pro-basketball players. They're the ones who get the gold teeth...etc.

The thing is, i dont have any kids at home, or a house payment. the only thing dipping into my paycheck, is what i spend on cigars and my cell phone bill, health insurance and my minimum car insurance (which i own the car).......

so i dont 'have to' make $500 just to send off back home, then live on the rest. what i make, goes in my pocket.....

 

the problem is that if you only do the minimum to stay under the "excess miles"...it is set at 11,000...you definitely won't be making ANY PROFIT...let alone have any monies for self employment tax (federal) or state/local taxes. Remember, all monies owed to the contract are taken off the top before the lessee gets anything in his pocket!

 

but if you go over the 11000 will you make enough to offset the mileage penalty?

 

And the ones that "fail" are the same ones you see sitting in the drivers lounge or T/S coffee counter whining and crying they aren't getting any miles...in the same breath refusing loads!

 

I figured to offset and make a profit...I wanted 3000 - 3200 each week! Which means you have to work to get ahead! So many "lease hot shots" don't want to work and are "bluffed" into being lazy by the first few settlements (when they did run the miles) and figure they can always make it up later in the year!

 

is the 1100 miles max--is that figured monthly ?--or yearly?--like could you run hard--take a week off and it would offset the over mileage?

 

Monthly! So no run and sit issue thing...the way you ask....it still wouldn't make sense to run for two weeks then sit back on your haunches just for the 11,000...still need to make an overall profit!