Free Trucks

zorry · Jul 7, 2014

Over the weekend a midwestern fleet owner posted an ad ( here on EO)with a novel approach.
No money down. No payments.
Drive the WG/TVal truck for 18-24 months and he'll sign the title over to you and throw in the needed equipment.

I don't know the guy, or gal, but I have seen his trucks.

I think he'll fill the seats pretty quickly.
Good luck to all involved.

TheOGExpediterGuy · Jul 7, 2014

I'm laughing hard lol

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zorry · Jul 7, 2014

tjpohio44 said:
I'm laughing hard lol

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And why ? From an owners stand point I can see an upside.
From a drivers stand point I see a plus also.

Jenny · Jul 7, 2014

I know of owners who have done something quite similar. After a few years the truck was signed over.

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Daffyduck528 · Jul 7, 2014

I guess if the truck is near the end of life with your carrier it may not be that bad. It is harder to fill seats on older trucks.

letsdrive · Jul 8, 2014

Sounds ideal in paper.

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Treadmill · Jul 8, 2014

zorry said:
Over the weekend a midwestern fleet owner posted an ad ( here on EO)with a novel approach.
No money down. No payments.
Drive the WG/TVal truck for 18-24 months and he'll sign the title over to you and throw in the needed equipment.

I don't know the guy, or gal, but I have seen his trucks.

I think he'll fill the seats pretty quickly.
Good luck to all involved.

i don't think it's really free. The owners are getting their money. It's worked out in the contract something like the owners name is still on the contract and the drivers agree to pay owner either % of load or just a set amount each week until payed off. As a matter of fact I was a party to this 3 times with my past truck purchases. Worked out for me.

davekc · Jul 8, 2014

I don't believe it is free either. As to whether it is a good idea is too hard to tell. No where near enough information to make any kind of assessment.

zorry · Jul 8, 2014

Not necessarily. If he pays you the same as his others drivers, it is free.
My thoughts are if these two older trucks are sitting, they're not earning anything.
If the New Team drives it for two years, and the owner profits $20-$30,000 per year he's done fine. Maybe this takes him thru his finance contract.
In two years the truck is older, worth less, hard to finance. Give it to the team that just earned you $40-$60,000.
Everyone's happy, no messing with potential buyers,possible tax savings.
The new owners now have a paid for truck that they know.

Anyone have a better idea on how to get drivers into an 06 and 07 truck ?

davekc · Jul 8, 2014

The ad doesn't say. One would have to see a contract and the trucks to make that determination. Outside of that, it may not be worth anything at the end of the two years. So in that case, why bother? If it is a 06 and it runs for another two years, it would equivalent to a 04 today. Not really worth anything. May stand to loose more money because of excessive downtime unless he is rebuilding them? But it doesn't say that so hard to tell.

zorry · Jul 8, 2014

Having seen this guys trucks, they're probably fairly decent.
The Western Star most likely a Class 8 with ICT sleeper.
If they're in the TVal fleet they must be reasonably dependable.
As Dave says, a ten year old truck isn't worth a lot. A nicer 10 year old truck isn't worth much more.
A well maintained 10 year old class 8 can still have a lot of earning potential.
The trucks involved are an 06 Frtlnr, and an 07 Western Star.
I believe A Team just got out of an 07 class 8 with lots of life left in it.

letsdrive · Jul 8, 2014

Zorry in your opinion if was looking into this would this be a good approach

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Daffyduck528 · Jul 8, 2014

I would be skeptical but still look into it. You have to filter through a lot of crap starting out in ownership in this industry. Could be a great investment for a team, may not be either. If I were starting I would look into it. I was uber skeptical of Expediter Services path to ownership program but after looking into it we decided it was the program for us. You should never completely discount something before seeing the contract, talk to the key people in charge and talk to people that have or do work with them. Then decide if it's right for you.

zorry · Jul 8, 2014

If the truck seems to be in reasonable shape, I'd review the contract and talk to some former or present drivers.

I'd want a simple agreement on turning over the truck.
I'd want the routine maintenance done until the last day, and require that it passed a dot inspection at the time of transfer. Let's face it, he won't want to put $5000 worth of tires on with 2 months to go, but it should be useable.
And if major repairs are needed that they don't feel like making ?
Maybe sign the title over to you, or you walk away. I guess you'd be able to walk away at any time if you're just a normal driver.

This seems to be where Dave KC can start another venture. Dave's Expeditor Arbitration Services.
Payment in advance.
Anyone doing it. Bank as much as you can. If you need it, you'll have it. If you don't need it, great.

davekc · Jul 8, 2014

How the maintenance is handle through that two year period would be critical. Who pays for what and under what conditions? If it wiped out a transmission or engine, then what? And as mentioned, the simple things like tires? Lot of items and things to look at.

zorry · Jul 8, 2014

I would expect all repairs,at the owners expense. If past 1/2 way through the contract, I'd give him right to hand me the title and let him walk away. After I had the opportunity to walk away.

T270_Dreamin · Jul 15, 2014

Nothing is free in this life.

aquitted · Jul 15, 2014

Air is free thats why I have a big nose!

paullud · Jul 15, 2014

T270_Dreamin said:
Nothing is free in this life.

It depends on how you are paid during the time you are driving for the owner. If you are getting the standard percentage then the truck is free, if you are getting less then you are making a payment plan that might cause you to lose money.

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Lrc · Jul 16, 2014

I called when they first posted it, we have always lease purchased. Left FCC in2011 and now considering different options to get back otr. This is what I was told when I called the number on the listing. The pay would be 55% to the drivers 45% to them. Drivers pay for fuel, fedex fees etc. He may have said they pay for maintenance. At the end of the contract what ever the driver wants or needs fixed on the truck, they would pay for half. May work for someone but it wasn't a good deal IMO.