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Thanks
I would rent a truck from them for the purpose of repairing a truck I own.Originally Posted by merrick4
mndriver, just out of curiosity, why would you never lease from Ryder/Penske?Thanks
I would not do a long term lease for the use of equipment.
I would have to know specifics, but it has to do with total cost of ownership.
Your lease payment is $2419.70. and you kept it for 54 months. Since you also say that you have financing with GE Financial, that's likely at 7% or better interest. I figured below for 60 month, 7.5 % interest and $2419.70 payments a month.
http://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx
in 5 years, that would be payments of about $174,000. Figuring you can buy a rather loaded Evolution right now for $152,000 which I looked at on Thursday, that means you are paying at least $22,000 in interest. And if you are purchasing the fleet, likely a dealer will work with for pricing. I also doubt you would be buying a truck this loaded. (Yes, I just looked at an Evolution that had full gage pack, DD15, DT12 3.08, insulation package and Parksmart APU).
Your maintenance expenses are going to be the same. With a fleet of size, it becomes a point where realistically, I would have brought my maintenance in-house and started to perform the routine stuff on my own. Penske and Ryder would set you up for it, but when you consider the costs, you still have to consider they WILL do it at a profit. likely 35-40% mark-up on you. So while it would cost you do $85-88 to do your maintenance, they will charge you $120 to do it per hour.
I see full-service leases as a short term answer, not a long term item.
But, like you said, you are someone that would rather sit back and let others show you how dumb they are than to share with them.
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By the way, I have had outside consultants that wanted to act as a middle man between me and Ryder or any lease company but they couldn't help me. They tell you one thing and it turns into another. I am a very plain spoken person. When new drivers walk into the office they assume I am just another driver. When sales people or reps, or adjusters etc walk in they go over to the dispatcher's desk. I had one risk analyst turn his back on me and he was asking the dispatcher certain questions and he wouldn't turn his back and brushed me off. He got on my nerves, and out went the plain talking and in came the $.50 cent words. (I'm self educated and read and read and read and looked up every word I didn't know). I started pointing out things in the CFR's (Code of Federal Regulations); Man how he came in is not how he left. I like to let them think I'm dumb as it shows them for who they are. But I started tearing into those consultants and they move on from me.
By the way, I have had outside consultants that wanted to act as a middle man between me and Ryder or any lease company but they couldn't help me. They tell you one thing and it turns into another. I am a very plain spoken person. When new drivers walk into the office they assume I am just another driver. When sales people or reps, or adjusters etc walk in they go over to the dispatcher's desk. I had one risk analyst turn his back on me and he was asking the dispatcher certain questions and he wouldn't turn his back and brushed me off. He got on my nerves, and out went the plain talking and in came the $.50 cent words. (I'm self educated and read and read and read and looked up every word I didn't know). I started pointing out things in the CFR's (Code of Federal Regulations); Man how he came in is not how he left. I like to let them think I'm dumb as it shows them for who they are. But I started tearing into those consultants and they move on from me.