Exposing Mega Carriers For Forcing Truckers To Lease Semi Trucks With High Payments 😵
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You can walk into any dealer with those credentials and get a new truck
700+ credit score and 20k reserve.. thanks you really helping alot of drivers.
That's harsh considering what truckers are having to deal with right now. Thanks for the info and stay truckin. We all need you ❣️
Ok this sucks this is not good financing at all if a driver has all those qualifications he can just go to his local bank or credit union and get a great deal Fk bob
I’m new but I went into this with a plan I bought an old truck for 30k I drive it when I want and recently added an additional truck as a back up so I have 2 trucks 1400$ a month if one goes down I can drive the other one my ass is covered with insurance I’m looking at 2600 a month mandatory payments but I put away 1000 a month for when the truck inevitably breaks down so I figure my fixed expenses at 3600.. i figured my business plan in thirds 1/3 to the truck 1/3 to fuel and 1/3 to me so I try to make 10,800 a month and so far that’s been very doable running right about 4,000 miles a month.. I can’t imagine very many people making it with a truck payment north of 5,000 though
You can all do what you want, but I would strongly advise to never do a company lease. If you want a truck, save up, get a bank loan. Company lease is too high risk.
Rule number 1…. NEVER LEASE A TRUCK AS A DRIVER!!!!! Leasing is a total scam. I know of nobody Leasing a truck as an independent contractor making any money. These scammers always talk about gross income, subtract expenses and you might make a little under $20K a year. IF YOUR LUCKY.
Stay away from all the Russian lease trucks, they will suck u dry, keep your escrow and last 2 pay checks.
Doing o/o is not great if your a good driver there is plenty of work with companies that you can make 70k plus a year with 0 investment
Where is this guy located?
SFI sucks
I'm in a full maintenance lease. Penske truck 2023 Cascadia. I don't pay any repairs. When I go home I don't pay for the truck. If I breakdown they will tow me a new truck. And I'm making money dry van spot market. $4,000 a week
People don't fall for shit leases that have 700+ credit. With 20,000+ reserve money
I don't see no help at all same BS
KDA logistics in Illinois is 8,000 a month. They steal detention as well. And steal your escrow
My wife and I are in a lease and are doing very good. We paid off our first truck in 3 years and now we have a 2021 Cascadia and will pay this one off in soon too. It's been very good with us.
You throwing it all in same bucket. If that was just truck payment ,hard life.
Is why person needs to read lease for truck , and work. Are you required to have maintenance fund but only allowed to fix in their shop.
Are you paying all license fees and permits.
Any discounts for insurance?
Are they lease purchasing just truck or truck and trailer?
They need to decide if right for them. No one forces them.
You asking one pointed question and painting all with results. Not good reporting.
leasing is basically a form of sharecropping !!
Moral of the story, too many suckers in this world.
Anything dealing with trucking is funny math. The truck payment are not the problem It is everything else. They charge you for everything. These guy was try to compare apple to apple but it was apple to oranges. The additional fee in the lease is for leasing the equipment onto the company. So the additional fee will always be there.
How can this guy be saying they are helping driver when they are asking for a credit score of 7 or higher. With a 7.0 credit score I can help myself I don't need anybody with a great credit score I can get myself a personal loan and buy any truck that i want
look man the trucker's are the blood flow of the nation sometimes you have to stop what your doing to get someone's attention. if our country can send billions of dollars to countries that hate us they certainly can invest billions in our trucking system. yea,yea I know you can't have a war without some casualties that's life if you want to see results, just wait till you have to buy a electric semi truck your big problems haven't even started.
Got a brand new 2013 Cascadia through them and it was in the shop 34 days in 6 months. I called SFI and told them to come get this thing out of my driveway. Even the lawyer I hired to go after them (in Wisconsin)did nothing but take my money!
This is absloutley not a help 700 cs 25000 cash home owner lol
If this what you looking for . I can absloutley get a better rate and payment with any bank
And there are greedy dispatchers out there where you might gross 9000 weekly but the dispatcher requires a high amount from your earnings in a sense rips you off
Thats rediculous at knight my truck was $68000 i paid $445 wk $500 down and $12000 balloon that they financed after 3 1/2 yrs so i paid it off in 4 years and no credit check in a walk away lease program i paid it off in july
Lmao
Don’t listen to that dumbass
That guy is looking to make money off you too
The point of leasing is that it enables a stupid motherfucker with shit credit and no money saved for a down payment to get into a truck with no or low money down and operate worry free of a catastrophic break down. It also enables a driver to easily move on from a depreciating asset. I'm not defending SFI or their practices, but guess what assholes, YOU DON'T HAVE TO LEASE A BRAND NEW FREIGHTLINER!!!!!!!! THEY DO HAVE USED OPTIONS THAT ARE SIGNIFICANTLY MORE AFFORDABLE. DO SOME FUCKING RESEARCH!!!
Alex I know you have mentioned in the past, but I don't think I heard it on this video, I don't know I don't want to watch it again, but what percentage of FUNDING BOOTH DO YOU OWN??????
There’s a lot of risk that goes along with taking a 5 year old truck with 500,000 miles on it and financing it for 5 more years. By the time the truck is paid off it will have well over 1 million miles. Most leasing options are walk away so the operator can quit at anytime and they won’t be upside down on payments and their credit score will remain intact. For newcomers to trucking the best thing you can do to get out of a lease is to get rid of your car payments, move out of your apartment and live full time on the truck and live off of groceries bought at wal-mart. Do this for 12-18 months and you should be able to save $50k-$80k
Great info! Keep up the great work!
More of the same 20%maybe more, 700fico and up
So my truck payment on my lease is $2400 month for 36 months. At the end my buyout is $80,000 so for no money down I can get in my 22 cascadia and have 3 years of payments. I can then decide whether to finance the buyout or give it back for a new one or retire or whatever. They gave me no payments for 6 weeks up front to build some capital which allowed me to save a little over $2000 in my maintenance account and over $4000 in a bank account specific to my truck business. I am paying myself 48 cpm on all miles loaded and empty. I did it this way to keep it simple and consistent. I work 5-7 days depending on how quick I can run my miles and run between 2800-3500 per week in 6 southeast states. At the end of my 70 I go home for 2 days. My fixed cost for truck, insurances, equipment rental, etc is $869 per week which averages right at 29 cpm. Company pays all tolls, permits, and I typically make money off the fuel surcharge but rarely am under unless I decide to eat a ton of empty miles because I dead-end myself. If only take loads under 500 loaded miles I will get over $2 per mile plus I also get 90 cpm with no fuel surcharge for any empty miles. I run what I want and reject what I don’t like without fear of retaliation. I pretty much ask for certain lanes and it all works out that way. Now I’m not a dumbass so maybe I’m an anomaly here but you can’t say this is a ripoff everywhere. If I told you who I lease with you would not believe it. What I’ll say is if I ever have a week that less than $2000 after all expenses are paid it’s because I chose to stay home longer. Also…..if my truck were to breakdown and be down for a month I can get a loaner for 6 cpm charged to me. That’s not the best thing going but I’m not out of business for a month so the bank account can continue to grow at just at a slower rate. Good luck and don’t believe all the BS you hear out there….
Man I’m super grateful for my lease purchase changed my life and I’m home everyday…running flatbeds in the northeast
Yes truck drivers are clearly stupid no wonder nobody respects truckers
$1800 a month should be the max on lease purchase. Leases are designed for u to fail.
How dumb you have to be to pay 6k a month.
Mega carriers way to pass the tax liability and maintenance to the driver. While they pocket the majority of the revenue and giving the driver the least amount possible. These companies will take your escrow acct too. Don't ever do a lease save you money and get your own authority and a good broker. He's right buy out of the contract thru a credit union this way you make one monthly payment