New Panther Lease-Purchase Program

Bruno · Oct 17, 2010

idtrans said:
LOL no way would I do this plan !

But ok so who pays the Road tax ?

Permits ?

Tolls ?

Base plates ?

IFTA ?

PS : Arrow truck sales will finance darn near anyone LMAO so go there and pick your own carrier people !

I know some companies pay tractor tolls, permits, road tax. And all other things like IFTA, Base plate.

Most Carriers pay permits and IFTA. If they don't you better get away from them.

greg334 · Oct 17, 2010

I think after 44 posts on this, the Panther representative should step in and explain/answer these concerns.

ttruck · Oct 17, 2010

Why not do the same for straight trucks

xiggi · Oct 17, 2010

Because they do not have a shortage of straight trucks. They would not get involved in a tractor lease program unless they had a need for more tractors.

idtrans · Oct 17, 2010

xiggi said:
Because they do not have a shortage of straight trucks. They would not get involved in a tractor lease program unless they had a need for more tractors.

So very well said !

Honestly if I were to return to driving a Semi I would just goto a dealership and buy one get their manufacturers financing and be done with it.

But the reasons I won't go back to a semi are many starting with scale houses, log books, and parking way out in the back mess of a lot.

Plus it's so nice to pull into a walmart and see if I can park up front near the door go in use bathroom get some sugar free cookies and jump back in the van and get down the road more.

Plus I do not miss at all the smell of urine that coats the back where the semis are on a hot summer day ! LOL

AutonomyRex · Oct 19, 2010

xiggi said:
Because they do not have a shortage of straight trucks. They would not get involved in a tractor lease program unless they had a need for more tractors.

I agree, though maybe if they paid more than $1.40 they'd have no shortage. I was just reading AllState Express ad...$1.60 per mile plus FSC for T/T's.....wait, Do they require O/O's to have own trailer??? Or pull ASE trailer for free?

moose · Oct 19, 2010

The bank does not give a crap where the money comes from or if the thing is insured with X company where a carrier will.
the bank will also report to the free credit reports.
try to get that in a lease...any lease.
or walk away ,& then try to buy a truck ,without building up the credit for the duration of the lease

ttruck · Mar 26, 2011

And the name of thisn company is ? Would appreciate some info on comp. If you dont mind you can pm or send me an e mail

Monty · Mar 26, 2011

I must confess up front, I did not read all the messages to arrive at this point. But I would like to add my .02 cents worth.

Never, never, never, never lease purchase a truck from the person that controls the freight, and thereby your revenue.

They don't like you, they will not come to your house and fix you soup when you are sick.

They are a business, and if that business was so good, they would have no issues obtaining business partners.

I learned this hard lesson in 1970 ... when I "lease purchased" from Midwest Emery in Chicago .... I am still pulling yellow paint out of my butt from that 1968 GMC Astro!

If you can not manage financing on your own, then you are not ready to be an owner operator ...

Sorry to be sour milk, but those are the facts, as I see them.

"Kirk out"

nightcreacher · Mar 27, 2011

AutonomyRex said:
Absolutely, I don't disagree with you on that...I see carriers that send a driver to 3rd party truck broker..Those are crap, I've looked at them over the years....Many Leases are bad, set up for failuer, and pay so low I am suprised that any driver in his right mind would sign the lease...
I'm sure I mentioned in a post to compare as not all leases are good or equal...or something to that effect....and I did not mention an unfriendly lease if I recall, I mentioned a Trac Lease as my example.

In my example of my buddy's lease...The carrier is making about nil on the lease unless they got the 2006's for close to nothing, And they carry the note, as his payments over the 18 month term amounts to a bit shy of 18k...and YES, his lease is 100% written off as an expense. And yes, the carrier gets the depreciation...so maybe that is their profit. What they do get...Freight moved, which is the business his carrier is in.
He is not wet behind the ears to this business, and has been with his carrier as long as I have been with mine....that would be going on 12 years.

And as for being indentured to a bank or a carrier....you get the correct lease ( a walk away without penalty )...I'll take that for my tractor over a bank, whom doesn't care where the money comes from, BUT does care if you walk away from the note.
And a single O/O does not have the buying power of a fleet, and thus will not get near the discounts. I'm also sure that banks DO CARE if the tractor is insured...much like they care if your personal auto is insured. Or am I reading you wrong?

Would you be interested in sharing the leases you refer to that are not "even considered something that can be wriiten off" so that drivers new to driving or considering leasing as an option can learn from you.? It would help me as well....because just because I don't have 25% to put down on a specialized outfitted tractor, doesn't mean I want to remain a company driver all my life.

What are some red flags you would notice?

Thx
A-Rex

a lease purchase is a purchase and you can omly take depreciation and interest.If your friend is being told 100% write off,hope he doesnt get audited,he will be in for a surprice,just as I was years ago.90% of lease purchases never come to term.THese trucks are sold over and over by the same carrier.Usually towards end of lease freight gets scarce.THe lease I had,I could put my truck any company the would send my settlement to the leasing company.Between the 10cpm and rest of lease in small print,paychecks become very small