Sounds too good to be...uh, good.

[Kevin0915]

Friend and co-worker who attended Swift school in Idaho, now runs team with her husband, texted me saying Swift has (or is going to) a O/O program that only requires 3 mo. from release to solo, experience and a truck payment that will get the truck paid off in 9 months.

Now i totally understand, this 'plan' (as any other plan) is set in motion only to make the company money. Now my guess is, these trucks are the high mile, 4-5year old+ trucks drivers have been turning in for the past half year. The truck payments will probably still be close to $500/wk, which, if the truck is paid off in 9 months, would net close to $20,000 per truck for Swift. Which is an extra $20,000 in their pocket per truck they would just write off anyways. And if they can get 100 drivers to bite on this 'deal', that is $2 mil in their pocket. Pretty good plan from an economic standpoint.

But i could not fathom paying $500 a week for a 5+ year old truck, with probably close to 600k miles or more.

any thoughts or ideas? Please keep your opinion of the company out of your response, because i really dont care about that, just your opinion on thoughts about this 'plan'.

[Jumbo]

Sounds like another garbage "We will sell you a truck cheap and if you fail we will take it back and resell it to someone else" program. They are just taking the new truck smell out of it.

[mike3fan]

any thoughts or ideas? Please keep your opinion of the company out of your response, because i really dont care about that, just your opinion on thoughts about this 'plan'.

Seems one in the same to me, crap company with crap leasing plan.

[Kevin0915]

Seems one in the same to me, crap company with crap leasing plan.

and again....i didnt ask. If i were michigan, i'd sue you for giving me a bad name.

but then again, i should expect much in the way of quality response from either one of you. Please, someone with quality opinion and sense to help?

if either one of you took 3 seconds to actually read the post....you'd understand i kinda get the hint that there are companies out there (maybe most?) who i know take back a lease truck when a driver quits, and sells it as 'new' to the next driver. give me some credit....

[Biscuit Lips]

I am sorta confused about what type of info. you are looking to get from this thread. Sounds as though you have already talked yourself out of it. On the other hand, if you are going to go thru with it make sure you have an attorney look over the lease details before you sign your dingleberries away. You seem more intelligent than most folks that get into a fleece program and I have no idea how long you have been driving but make sure you look at all options before you jump in.

[Kevin0915]

just asking ones opinion on the 'program'. I havent talked myself in or out of it, and ill definatly read everything over, and wont sign anything unless i have answers to my questions. First one will be if it is a 'walk away' lease. heck, payments might not even be $500, but just using that as a ballpark. I dont have all the details myself, just listed the information i had and the logical guesses i could come up with.

thank you for a post that contained some actual thought.

[mike3fan]

just your opinion on thoughts about this 'plan'.

Asked and answered, again what do you want? Do yourself a favor get 5 years in this buisness then make a decision on whether you want to be an O/O (not a lease operator)or not and then come back and ask those who know better.

[Jumbo]

Hmmmm...If either of us had read the post. I read it twice. You asked us for our thoughts and wanted us to keep our opinions of your company out of it. I gave you my thoughts and left the company bashing out of it. Lets see:

1) You only need about 3 months solo to get into this program.

2) They will probably want $500 a week for a wore out truck that may already be 4-5 years old.

3) You already know this plan is set in motion to make the company money.

4) And here is some sense for you. After being a company driver for 17 years and having the pleasure to see first hand how successful owner operators run their business in good times and bad I have come to this conclusion, Company drivers will always have work before an owner operator for the same company. A company isnt going to let their trucks sit with no freight and give the loads to an owner operator. In this business climate if you want to take that chance go on ahead.

If you want a truck so bad save your money and either put a huge downpayment on one to keep your payments low or buy one outright. There has never been a lease purchase program that has been worth a darn and I dont see this as one that is any different.

[Uturn2001]

Knowing Swift like I do there is probably enough legal double talk in the contract to make a high priced NYC lawyer go "huh".

[Scottt]

Asked and answered, again what do you want? Do yourself a favor get 5 years in this buisness then make a decision on whether you want to be an O/O (not a lease operator)or not and then come back and ask those who know better.

5 years?? You must be a slow learner.

7 months "in this business" all as a O/O and I still have 4 years and 5 months to figure it out? I will be out of this business in 5 years and be on the lake fishing everyday. I should of listened to the know it alls and I could be bankrupt like alot of O/O by now.

Kevin save your money and buy a truck with a payment under $1,000 a month. You can borrow $35K for 3 years for $1,000 a month. Find a small company that has established customers. We hired 3 O/O this week to keep up with the weekly demand. The rates are down but they are still high enough to make a good profit if you aren't buried in a big payment.

[dobry4u]

and again....i didnt ask. If i were michigan, i'd sue you for giving me a bad name.

but then again, i should expect much in the way of quality response from either one of you. Please, someone with quality opinion and sense to help?

if either one of you took 3 seconds to actually read the post....you'd understand i kinda get the hint that there are companies out there (maybe most?) who i know take back a lease truck when a driver quits, and sells it as 'new' to the next driver. give me some credit....

Kevin, you have your "undies in a bunch". Sounds like you have your mind made up. You want to lease and you probably will. You presented speculations and asked for opinions. When you get the facts, then decipher them and make a decision. You'll get more "to the point" opinions when you have asked your questions with facts, not guesses.

Please keep in mind, when you are no longer a company driver for Swift (when you move to their O/O division) the remaining CDL school bill is all yours and you also have no more bennies.

Swift requires you put money in repair and maintenance accounts, you pay for your prepass, your qualcom, some insurance, a performance bond, excess mileage fees, AND your lease payment. So, get a hold of a contract and then you'll have the information/facts your need to make you decision.

[mike3fan]

5 years?? You must be a slow learner.

Ok mister 20-30k a month, cash flow is different from profit. Just because you're running doesn't mean you're making it. Plenty of people think they are making it, few know for sure.

[Syncrosonix]

Kevin, you have your "undies in a bunch". Sounds like you have your mind made up. You want to lease and you probably will. You presented speculations and asked for opinions. When you get the facts, then decipher them and make a decision. You'll get more "to the point" opinions when you have asked your questions with facts, not guesses.


Please keep in mind, when you are no longer a company driver for Swift (when you move to their O/O division) the remaining CDL school bill is all yours and you also have no more bennies.

Swift requires you put money in repair and maintenance accounts, you pay for your prepass, your qualcom, some insurance, a performance bond, excess mileage fees, AND your lease payment. So, get a hold of a contract and then you'll have the information/facts your need to make you decision.

not to mention, that 2 year bonus for sticking around, is also gone once you become a lease-operator.

[Kevin0915]

Asked and answered, again what do you want? Do yourself a favor get 5 years in this buisness then make a decision on whether you want to be an O/O (not a lease operator)or not and then come back and ask those who know better.

obviously that isnt you. HAHAHAHAAH

[Kevin0915]

3) You already know this plan is set in motion to make the company money.

as is any company 'program', isnt it?? isnt that how a business makes money??? i apologize....i lumped your response in with the one following yours....opinions kinda were blurred together.

[Kevin0915]

not to mention, that 2 year bonus for sticking around, is also gone once you become a lease-operator.

what two year bonus? never heard/told about that. dont think it was around when i started this endeavour in August '08

oh, and to top it off, i would check to see if there would be some 'limit' to the routes i could run. If/when i ever do become an O/O, i would have the sense to atleast get on a dedicated run, either Dollar Tree or Wal-Mart. Heck, if i got my own truck, i would get my HAZMAT endorsment...

[mike3fan]

oh, and to top it off, i would check to see if there would be some 'limit' to the routes i could run. If/when i ever do become an O/O, i would have the sense to atleast get on a dedicated run, either Dollar Tree or Wal-Mart.

That right there is why you shouldn't get your own truck, dedicated routes pay realitvley poor compared with irregular shipments. You give up income to have a steady "dedicated" route. Most are bid on volume. Only problem is your truck cost you the same to run a mile whether or not it is dedicated or not. Most dedicated rates I have seen are in the 80-90cpm range, I dare ya to make a living off that.

[mike3fan]

obviously that isnt you. HAHAHAHAAH

Never said I was, hero.

[dobry4u]

That right there is why you shouldn't get your own truck, dedicated routes pay realitvley poor compared with irregular shipments. You give up income to have a steady "dedicated" route. Most are bid on volume. Only problem is your truck cost you the same to run a mile whether or not it is dedicated or not. Most dedicated rates I have seen are in the 80-90cpm range, I dare ya to make a living off that.

Last I knew, Swift was paying 90cpm to their leased O/O.

[Scottt]

Ok mister 20-30k a month, cash flow is different from profit. Just because you're running doesn't mean you're making it. Plenty of people think they are making it, few know for sure.

LOL You ought to know because you are probably one of them.