New Express 1 Truck Lease Program

Ladytrucker1950 · Oct 11, 2006

Ok, everyone, now i have a question for you all. I have been in 2 lease programs at t/t companies. At both of these companies there was a trip lease clause. Do expediters not do this? Can a driver not find his own loads. I also stayed team with a person until his lease was completed and we found our own freight when the company intended us to sit or haul cheap freight. Also one of the leases I had was financed through a bank and I could turn the truck in or pay 10% and take the truck elsewhere. Thats 10% of the remaining balance of the loan. There are ways and a good business person should make it a priority to have 2 or 3 months lease payment put in an interest bearing account. Btw, nobody ever did say, who else has lease/purchase programs? Thanks all, cheer up and don't be so hard on this guy. He's done it so now its time to encourage and advise, not criticize.

davekc · Oct 11, 2006

I know very litte of lease purchase programs or who offers them. It isn't something that I would have any personal interest in.

With regards to obtaining your own freight, many claim they will let you. That is much different than whether they have a viable program. Again, from a personal observation, Panther has the best program.

If I was to look at a carriers program, below is what I would be looking at.

1. Quite simple.....how much of this do they do?
2. Do they have experienced people and or a seperate dept.?
3. What percentage do they take? Panther takes 15 percent, but some go as high as 50 percent.
4. Who collects from the broker? And is there a factoring fee?
5. Will they assist you in locating a load if you are sitting?
6. Will they book any load regardless of location and time? Some only book during business hours M-F. What good is that if you find a decent load over the weekend?
7. Will the carrier only book a load that they approve and goes to a location that they have no trucks in?
8. Who determines the rate? You or the company? If I am booking it, I would want to set the rate.
9. How are you insured when doing these loads?

I am sure there is more, but those are just some basics off the top of my head. Just because they say you can, is different than whether it is really a bankable program.

Davekc
owner
22 years
PantherII
EO moderator

harveyboy · Jan 31, 2011

hi their just look for info on new express 1 truck lease program

nightcreacher · Jan 31, 2011

Leasing a truck from the company you drive for,would be like lending money to the guys your playing poker with.A no win situation for you.

purgoose10 · Feb 1, 2011

LDB said:
The 3 rules of leasing are:

Do not lease from the company who is loading you.
Do not lease from the company who is loading you.
Do not lease from the company who is loading you.

That said, I believe Express-1 is one of the most honest and straightforward companies in business. I don't believe they are setting this up to defraud lessees the way some companies do. I consider them a trustworthy organization. I do not personally think leasing is as good as purchasing but that's a matter of opinion. If you ask 3 CPA's you'll get 4 answers.

I know there will be a few responses pointing out how crazy I am and how foolish I am but a 48" sleeper is insane and 72" is marginal in my opinion unless you live right on the I75 corridor or somewhere else where you can stop by home pretty often. If you are going to be out for 3-5 weeks at a time I think a 48" would drive you insane. My .02 that isn't agreed with but still my .02 on it.

Leo Bricker, 73's K5LDB, OOIDA 677319
Owner, Panther trucks 5507, 5508, 5509
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.

Oh so true. I have never talked to a leesee who hasn't been screwed one way or the other.
There are not enough Lawyers in Philadelphia to figure out the contract.