truckintommy
Seasoned Expediter
I just started looking at making the switch from tractor trailer to expedite. Want to get the wife onboard and team. Are there any dealers out there who have lease programs for expedite trucks? Any info appreciated!
Lease an expedite truck???
- Thread starter truckintommy
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moose
Veteran Expediter
here is my reply from last night to another expediter wannaBe.
in your case ,you will also have to answer : why lease rather then buy ,once you and your wife get the needed expedite experience .
:
first you will have to set up you goals .why are you doing this ,and what it is that you try to accomplish .
then you will have to get yourself familiar with the Expedite nitch of transportation .we normally advised experience truckers ,or previously small business owners to read this forums and archives at least a year back .(this dose not meant to say that you need to read every post ,but to spend a lot of time researching words of interests ) .then DRIVE FOR AN OWNER FIRST ! sorry no way around it ,(if you can't drive it yourself ,get someone you trusts to do it for you).
then you will have to understand how expedite works .get familiar with basic terms ,like freight lines ,DH% ,cost averaging a load ,relocation ,flowered shorts ,none directional industry ,and so many more .
lastly ,the 1st items on every driver mind is where to go to get freight to be placed on the truck .or in other words ,hoe is YOUR costumer .and what will be the best tool to serve his everyday needs.
remember ,expedite is NOT trucking ,it is a business first .
many of us ,my self included ,can shoot you a ready to sign contract ...but we won't ,at least not the responsible ones .it will be like setting you up to fail...sorry.
the good news is that you came across the best place to ask questions ,this is the Expedite information Interstate ,and it is rush hours year round .
good luck to you in your new venture ,and please don't be a stranger .
in your case ,you will also have to answer : why lease rather then buy ,once you and your wife get the needed expedite experience .
:
first you will have to set up you goals .why are you doing this ,and what it is that you try to accomplish .
then you will have to get yourself familiar with the Expedite nitch of transportation .we normally advised experience truckers ,or previously small business owners to read this forums and archives at least a year back .(this dose not meant to say that you need to read every post ,but to spend a lot of time researching words of interests ) .then DRIVE FOR AN OWNER FIRST ! sorry no way around it ,(if you can't drive it yourself ,get someone you trusts to do it for you).
then you will have to understand how expedite works .get familiar with basic terms ,like freight lines ,DH% ,cost averaging a load ,relocation ,flowered shorts ,none directional industry ,and so many more .
lastly ,the 1st items on every driver mind is where to go to get freight to be placed on the truck .or in other words ,hoe is YOUR costumer .and what will be the best tool to serve his everyday needs.
remember ,expedite is NOT trucking ,it is a business first .
many of us ,my self included ,can shoot you a ready to sign contract ...but we won't ,at least not the responsible ones .it will be like setting you up to fail...sorry.
the good news is that you came across the best place to ask questions ,this is the Expedite information Interstate ,and it is rush hours year round .
good luck to you in your new venture ,and please don't be a stranger .
truckintommy
Seasoned Expediter
The main reason I am looking at leasing is money/credit. Have some issues that would prevent obtaining financing for purchase. Within the next 1-2 years, I plan to go lease/owner with my wife either t/t or expedite. Saw some expedite trucks in person and online and decided to start researching. Thanks for your input!
chefdennis
Veteran Expediter
A straight up lease is going to require you to have better credit then if you were to purchase for the most...a lease / purchase is a totally different thing and the credit requirements depend on each financial institution....
That being said, re read Mooses post , there is more good info there than you might think...
That being said, re read Mooses post , there is more good info there than you might think...
If you have questionable credit and these days if you don't already own a truck believe me your going to be questioned. In fact I have 8 trucks and the down payments are getting larger for expediters. As much as 50% down with Mack Financial. Creditors took a beating in 09 with many expediter trucks being repossessed and the industry has not fully recovered.
Look for an owner that is affiliated with a company that you are interested in working for. I have all my units leased to Fed Ex Custom Critical. I will lease a truck to a H/W team with a minimum amount down as long as the team is willing to contract with Fed Ex. I would also consider Panther or maybe Express one. However I prefer Fed Ex.
A lease should be constructed so that you wind up owning the truck at the end of a specified term. Make sure you are clear on the terms before you jump in. I have been hearing many horror stories where owners repo the truck after a few years for one reason or another. Believe me I personally do not want the truck back. I want a sub contractor to be successful and to complete their lease.
Remember most of all that the more expensive the truck the more likely that in the long run that you will fail. I do not believe that you can succeed with a lease if the equipment is over $3,000 per month. The more expensive the truck the harder it is to show a profit. I try to keep my trucks in the $2,000 range and at times this can be hard to meet with drivers time off.
Good Luck!
Look for an owner that is affiliated with a company that you are interested in working for. I have all my units leased to Fed Ex Custom Critical. I will lease a truck to a H/W team with a minimum amount down as long as the team is willing to contract with Fed Ex. I would also consider Panther or maybe Express one. However I prefer Fed Ex.
A lease should be constructed so that you wind up owning the truck at the end of a specified term. Make sure you are clear on the terms before you jump in. I have been hearing many horror stories where owners repo the truck after a few years for one reason or another. Believe me I personally do not want the truck back. I want a sub contractor to be successful and to complete their lease.
Remember most of all that the more expensive the truck the more likely that in the long run that you will fail. I do not believe that you can succeed with a lease if the equipment is over $3,000 per month. The more expensive the truck the harder it is to show a profit. I try to keep my trucks in the $2,000 range and at times this can be hard to meet with drivers time off.
Good Luck!
Yeah, leasing is tougher than buying.
Straighten out your credit while driving for someone.
Get you credit score up, save a downpayment, which would be needed in either a buy or lease and have 3 to 6 months cash reserves to live on.
Good luck.
Straighten out your credit while driving for someone.
Get you credit score up, save a downpayment, which would be needed in either a buy or lease and have 3 to 6 months cash reserves to live on.
Good luck.