swift and the lease purchase

If you are buying your truck from swift can you leave with it (take it to another carrier, etc) before it piad off.
The contact say you have to turn the plates and everything else in permits, dot number etc but when you call them they say no, you can't leave with it until its paid off.
(I'm talking about a truck your buying from them not a lease purchase)

Any one have an answer?

 

It's in your contract. I haven't looked recently, but I believe you have to keep the payments up to date and be signed on with another carrier within a specific amount of time. (10 days? ....it's not very long) Read your contract. It should be spelled out in there.

 

Yes I saw it, but the o/o recruiter telling me something different that's why I want to know if anyone else see what I am seeing in the contract.

 

The L/O recruiter is a used car sales person. You will make fantastic money and have freedom to run as you wish. CDL Nirvana

 

Anybody can tell you anything they want about "what's in it" but what's in it is what counts. When in doubt as to the meaning, ask an attorney, not a recruiter.

 

Why not post it here for all to see?

 

Ok I try scan it from the phone but it wasn't clear so here it goes.
Page 5 of 33
5. Control Equipment
B. " Contractor may provide services to another carrier during the term of this agreement, provided, however, that at such times, CONTRACTOR agrees that it will remove from the equipment any and all identification devices, licenses and base plates pertaining to COMPANY and will return them to company."

 

Since o/o have this option why don't they use it instead of turning the truck in.

 

They make the mistake of returning to the terminal with the truck before setting everything up with another carrier. If you want to lease onto someone else, get your lease lined up then remove all the identifying decals, plates, etc and go to the terminal in your POV to turn it all in, along with a copy of your lease agreement with the other carrier.

If you take the truck into the yard and then remove all that stuff, you won't be able to leave the yard with the truck. You are no longer attached to Swift in any way and Swift security doesn't have to open the gate for you.

You can sit there all week, or you can call an attorney. Either way, it will take far longer to accomplish anything than you have to start with the other company.

 

I'll bet they didn't want to put that in there. IMO they had to. Keeps the leasee from looking like an employee to the IRS.


I have a friend leased to FedEx package delivery. He had to buy other routes and now runs 4 or 5 trucks. He was happy with just one. They were having problems with the IRS.

I talked to a guy that was running for a FedEx ground contractor. He and his brother in law wanted to buy 1 truck. FedEx required that they have a minimum of 2. They just wanted to continue running team.