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Straight Truck Leases Available - Where can I fin

Discussion in 'General Expediter Forum' started by chuckwagon, Nov 5, 2006.

  1. chuckwagon

    chuckwagon New Recruit

    Does anyone know who might have a good lease-purchase program avialable on straight trucks.
     
  2. kempers_gramp

    kempers_gramp New Recruit

    RE: Straight Truck Leases Available - Where can I

    Lease purchase programs through carriers are available through 3 carriers for straight trucks as far as I am aware.

    Tri-State, FECC, and of course Panther.

    Call any of their recruiting departments. They will have the skinny.

    They offer what you call a Trac-Lease. Look it over very carefully and have your business lawyer check it out. Be sure you know what you are getting into! Once you sign a Trac-lease you are at the mercy of the Lending company. They tell you who you can and can not lease on to. The one I am stuck with I can switch between the 3 formentioned relatively easily, for a small nominal fee of course.

    Kemp.
     
  3. raceman

    raceman New Recruit

    RE: Straight Truck Leases Available - Where can I

    Express-1 does that as well.they used to. Give Scott a call at 1800-800-5161

    Raceman
    Dedicated O/O
    OOIDA 741748
     
  4. PantherPower

    PantherPower New Recruit

    RE: Straight Truck Leases Available - Where can I

    >Lease purchase programs through carriers are available
    >through 3 carriers for straight trucks as far as I am aware.
    >
    >Tri-State, FECC, and of course Panther.

    I called Panther a couple of months ago with that question; I also called again the day I read this post.

    Panther DOES NOT have any programs to get you into your own truck. The recruiter I spoke with said the best you can hope for is to get on with a fleet owner and lease/purchase one of their trucks.

    Unless, of course, neither of the recruiters I spoke with knew what they were talking about....
     
  5. themagicoen

    themagicoen New Recruit

    RE: Straight Truck Leases Available - Where can I

    Trac-leases suck! The owner I was with put $15000 down on a $120,000 truck, payments were close to $2,500/month. Now, my business lease from the bank is putting me into the same truck with nothing down for $1850/month.
     
  6. Broompilot

    Broompilot New Recruit

    RE: Straight Truck Leases Available - Where can I

    Congrats Tehmo, but for how long is your payment schedule. 120 divided by the 1850 comes out to 64 months with no intrest added just curious how long they will carry truck loans for now?
     
  7. tazman

    tazman New Recruit

    RE: Straight Truck Leases Available - Where can I

    Hi,

    I'm curious...The bank's business lease...
    Would you mind sharing how it is structured ????
    Is it a closed end or open ended lease ????
    Did you negotiate the terms and the residual at end ????
    Nothing down is not abnornal...however the 1st payment and the fees are generally collected up front...unless the bank waived the fees and rolled the 1st payment over the term of the loan...

    Most of my clients that TRAC lease are really at no other option (leasing wise)...but if you have a good program ...
    I'm all ears !!!!!

    Thanks in advance

    Frank In Pa.
    "The Beast in the East"
     
  8. themagicoen

    themagicoen New Recruit

    RE: Straight Truck Leases Available - Where can I

    Well this isn't my post but anyway, 60 months w/ 20k end of lease payment - 3 months advance payment escrow account for security. Able to add to the lease at any time. Interest is locked, don't know exact rate yet but payments are around $1850, then $500 for my 20k equity loan to cover expenses when times are slow so the repo man doesn't come. And it doesn't really matter, when I(not "if i") get my settlement from the deadbeat owner for $60,000 after cost I'm going to pay half of it off and then refi into regular loan. I may not be a very smart man but I know how to get what I want and not get screwed.
     
  9. kempers_gramp

    kempers_gramp New Recruit

    RE: Straight Truck Leases Available - Where can I

    Sorry i didn't mean to mis-inform you ....I got moved from Con-Way (which had the program) to Panther which acquired the contract.
    They may not offer the program.?
     
  10. Jayman

    Jayman New Recruit

    RE: Straight Truck Leases Available - Where can I

    themagicoen,

    What bank did you use and do you know what interest rate you got?

    Jay
     
  11. garman351

    garman351 New Recruit

    RE: Straight Truck Leases Available - Where can I

    We just leased a new 2007 Hino from Toyoto finance corp, and their interest rates are some of the best I have seen and their lease is a straight-up one with no monkey business to worry about.

    Plus their new trucks comes with an industry only three year warranty for free!

    If interested call Interstate Trucks out of Romulus, Mich. The salesman Robert has been the best person we have ever purchased a truck from. Robert has called me a few times after our deal was complete just to make sure we were happy, and asked if he could do any thing to make sure everything is ok.

    We had a couple of start up issues with our new truck and the dealership made sure we were taken care of as soon as we could drive over to their dealership to have our truck repaired. We were just treated us like gold. I even had the service dept call me a few days later asking if everything was ok, (Wow)

    Good Luck
    Garman351:)
     

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