After 8 months got a job offer but it's a lease some ?

[JuanatU]

Been out of work since 11-08 have things on my record and driving record.
The things on my driving will have to wait 2 years B4 they come off.
My LIC+PASSPORT+TWIC ARE GOOD TILL 2015.
The CO will hire me have some ? about the lease.
The CO pays 1.10 cpm with the fsc.
The payments per week is 700.00 to 900.00 a week
The trk payments are from 425 to 525 a week
The rest is for FUEL TAX 35$ OCC/ACC INSURANC37$ SATELLITE 18$ TRIPPAK 7$
HVY/HWY USE TAX 11$ DEDUCTIBLE BUYBACK INS 13$ BASE PLATE 43$ INDIANA FUEL USE SURTAX 4$ BUSINESS SERVICE 25$. ESCROW 100$ A WEEK FOR 25 WEEKS
The CO have 05 to 07 trucks International Eagles + Freightliner Columbia.
The 05 has less than 500000 miles and are 450$ a week for 30 months
The 06 less than 300000 miles and are 475 a week for 3+ years
The 07 and newer are 525 a week for 5+ years.
I'm thinking of the 06 Columbia. Which trk will be cheaper to run in the long run
and get better fuel mpg?
What do I have to watch out for that might be on the lease?
My bills at home are only 150$ month. HOW MUCH IN TAX DO I NEED TO SAVE A WEEK!!

[Rev.Vassago]

That's an expensive truck payment, especially for such horrible rates. $1.10 per mile including FSC equals about $0.85 per mile plus FSC right now. Of that $1.10, you're going to end up putting $0.45 - $0.50 per mile right back into your fuel tanks. So now you're down to $0.60 per mile. So just to meet your payment obligations, you're going to have to drive 1200 - 1500 miles per week. That's before you have anything to take home. Then you're gonna have to pay for maintenance on this truck. That's going to be another $100 per week or so, so add another 200 miles just to take care of that. So now before you can pay yourself one penny, you've already run 1400 - 1700 miles. So how many miles are you planning on running per week? At 2500 miles per week, you're gonna earn a total of $780 pre-tax, or $0.31 per mile. Assuming you don't have any truck problems. If you only make 2000 miles per week, you're down to earning $480 per week pre tax, or a whopping $0.24 per mile. Plus you have to factor in all your other expenses: cell phone, meals, etc. That money will disappear quickly.

If you're that dead set on getting a truck, why not take advantage of the fact that trucks are cheap and plentiful right now? You can get a truck with those kind of miles on it for between $20,000 and $25,000 right now. With that kind of price, you'd have a truck that would cost you around $600 - $800 PER MONTH.

[allan5oh]

I'm also wondering about buyouts...

[allan5oh]

The 06 less than 300000 miles and are 475 a week for 3+ years

Here's an 05 with 287,xxx for half the price. No buyout/balloon payment either!

http://www.truckpaper.com/listings/d...13C6A4E90F7F00

[JuanatU]

The said 90cpm for this week the fsc was 24cpm if a lds go in NY it's 10 cent more on the fsc
I don't have the $ or the cerdit to buy a truck on my own.
The CO said I would avg 2500 to 2800 mils a week.
Which trk on the list would be my best bet to give me less problems and make more $?
Will that 100$ a week for tax keep me out of trouble with the IRS?
Like I said been applying and get no calls back!
I only have 150$ a month in bills. I want to get back on the road.
What is the max I could get hurt by try this lease? THX

[Rev.Vassago]

What is the max I could get hurt by try this lease? THX

It could screw your credit up for 7 years. If you don't have the money to go into business, why on earth would you want to go into business?

[jiptwoo]

Well they cannot tell you any plainer than that, hey is plainer a word if not you get my point. Better yet P.T. Barnum said that---there is a sucker born every minute, it's your choice.

[GMAN]

The said 90cpm for this week the fsc was 24cpm if a lds go in NY it's 10 cent more on the fsc
I don't have the $ or the cerdit to buy a truck on my own.
The CO said I would avg 2500 to 2800 mils a week.
Which trk on the list would be my best bet to give me less problems and make more $?
Will that 100$ a week for tax keep me out of trouble with the IRS?
Like I said been applying and get no calls back!
I only have 150$ a month in bills. I want to get back on the road.
What is the max I could get hurt by try this lease? THX

Either truck could serve you well. Personally, I prefer International. You may want to sit down with a calculator and see how much you will actually be paying for those trucks. You will pay about double what those trucks are worth. I don't think you will need to worry about staying out of trouble with the IRS, you won't make enough to make a decent profit with all the deductions you will be paying. I understand you want to get into a truck, but you may be jumping out of the frying pan into the fire. With the figures you listed it sounds to me as though you will be paying more than you should for the truck and associated expenses. There are usually additional costs associated with these leases. I would advise you to continue looking around for another carrier or at least one that will hire you as a company driver without having to lease one of their trucks.

[JuanatU]

I have some $ but my credit not good to buy a truck on my own.
My 1st post I said have some things on my record and driving record.
I been looking for a job for 8 months
I can wait for the 2 years for it to come off.
I KNOW I WILL PAY PAY MORE FOR TRUCK ON A LEASE.
I can wait or try doing the lease.
If I do finish the lease it help with my credit and I be in a better place than i'm in now!
I know I MAKE ONLY 600$ TO 900$ A WEEK.
I'm thinking of getting the 06 truck @475$ week for 3 years.
I know it will hard for the 3 years
What other things I might have to pay on the lease that not on the list that on my 1st post?
THX for the info

[GMAN]

You just need to read the contract very carefully. Most carriers who do the fleece programs have a mandatory maintenance account. This can run from $0.05-0.15/mile. It can be difficult to get money out to take care of paying maintenance costs. Any money that is in the account could be lost if you fail to complete your lease agreement. There are other little costs that they could throw into one of these agreements. I don't sign anything that I don't agree. If the person who wants me to sign the agreement is not willing to change the contract then I walk away. Personally, I would not want to get involved in one of these programs. I have never seen one that was in the best interest of the driver. You seem to have your mind made up to do this no matter what any of us say. If you have some dings on your credit you still may find a leasing company who will lease purchase you a truck. Payments are usually much less than a lease you will do with a carrier. Requirements vary from one leasing company to another. You can sometimes get into a lease for as little as one payment down. Some may require 10% as if you were purchasing the truck. You will usually need some money down to get the deal done.

[dieselmanic]

This is why trucking companys can move freight so cheaply. This guy is willing to live in his truck and and work for peanuts. The company does not have to treat you as well as an employee and puts the onus of truck expenses onto your shoulders. Somebody get this guy a sign that reads "WILL DRIVE FOR FOOD"

[JuanatU]

GMAN thx for your feedback but I think want's hurt me is what on my drive record.
I been trying to get a job for 8 month!! Like I said I can wait for two years for it to come off
and then drive. The CO said that 750$ to 900 a week inculds what is all that will be taking a week for all expense and fees for the truck. What was on list on my 1st post.
The 06 truck that i'm looking at will be the 750$ a week. The CO said if I don't finish the lease I would lose the 2500$ deposit. AFTER 8 MONTHS OF NO JOBS OFFER!! I hope everthing will
work out will post here how ithe lease is going hope not to hear we told you so THX for all the feedback

[Mpneypit]

Is it a lease purchase deal. Or just a lese and once its up you give them the truck back.

[JuanatU]

When the lease is paid off the truck is mine.

[nightrider76]

You say your driving record is questionable. Be darn sure their insurance company will take you on before you sign anything! or give them anything!

[mike3fan]

When the lease is paid off the truck is mine.

Good luck Bro.....

[Jumbo]

Good luck Bro.....

If he doesnt finish the lease he will lose his $2500 deposit. Somehow I dont think that is all he is going to lose.

[mike3fan]

If he doesnt finish the lease he will lose his $2500 deposit. Somehow I dont think that is all he is going to lose.

Perhaps more than that.

[b00m]

Stay away from it dude!!!

The truck payments are outrageous.For 475-525 a week you should be driving the nicest,newest truck on the market.Right now, trucks are cheap and even with a high interest rate you should not go over a $1000 a month payment for one of those trucks.Keep in mind that a truck with 500k miles will start having issues and you'll have to keep up with possible repairs and especially maintenance.

Other thing is freight availability. Right now the economy is pretty bad and you will not run to the max. miles at all.I'm an independent, i beat my log quite a bit, just so i can make sure i have a decent reload and not stay 2-7 days sitting around in a place burning my money and fuel.I know it not very legal,but right now without cutting corners you will not survive decently.
If you can't find a job,look for something local,even flipping burgers will be more better than what you are about to do.

[RostyC]

+1 to everything mentioned above. Don't do it, you'll be worse off than you are now.