O/O $500 a week too much

rdtrpn · Mar 24, 2008

Is $500 a week a reasonable payment for 104 weeks on a 2004 freightliner business class 96" sleeper 367,000 miles, no generator, automatic, one drive axle, no lift gate, new tires (woohoo), with cb,cd stereo, no tv, has fridge, micro.

terryandrene · Mar 25, 2008

Lots of 2004 M2's in the free classifieds for less money. Why not compare before you buy. Is this a lease purchase with O/O financing for you?

Kyreax · Mar 25, 2008

seriously, this is paid off in 2 years?

that's a high monthly payment.

P51bombay · Mar 25, 2008

The ride will be worse than the payments

Bruno · Mar 25, 2008

Terry is right, that sounds like something Rent-A-Cent would do. Sorry I worked in the Rent to Own business before this. Their will be alot of good deals on trucks after MATS. So I would say no this is not the best deal.

nightcreacher · Mar 25, 2008

there will be a lot of repos after the strike, hold off on your purchase.Besides its a buyers market,they cant give these trucks away

jaminjim · Mar 25, 2008

Purchase price sounds about 10/20 percent high, but that includes the interest so who knows. The payment per month for a truck that age sounds real high.

Jefferson3000 · Mar 25, 2008

Keep looking.

davelees1 · Mar 25, 2008

Just remember, when you buy a Freightliner, you will need two loans, one for the truck and one for the repairs!

rdtrpn · Mar 25, 2008

Thanks for all your opinions. I felt it was too high also. I was trying to illicit an amount from the thread and receive a number figure. I was thinking in the range of $350 - $400 weekly would be fairly reasonable.

rdtrpn · Mar 25, 2008

terryandrene said:
Lots of 2004 M2's in the free classifieds for less money. Why not compare before you buy. Is this a lease purchase with O/O financing for you?

payments would go to the fleet owner. I would own at the end of 104 weeks.

arkjarhead · Mar 25, 2008

What happens if the fleet owner gets mad at you at week 88? Do you get back your $43,500 and turn in the truck, keep the truck and continue to pay it off, or lose the truck and your money? Is the owner going to be taking anything off of the top? These are a couple of questions to consider and have detailed answers to in a contract before entering into this type of agreement.

Tennesseahawk · Mar 25, 2008

This deal is trouble! You can do better.

terryandrene · Mar 25, 2008

This purchase sounds like a great potential for disappointment. It would seem that you will drive the truck for the owner who is leased to an expedite carrier. If this is the case, we have to guess your situation because you are short on details. In my opinion, the price of the truck is not as much of the issue as the ways and means to get to the title. 104 weeks is a long time if the deal sours at any point along the way. My comments are based on conjecture and knowledge of more than one deal similar to this arrangement.

What if the owner loses his lease with the carrier?

What if the truck has a lien on it and the owner takes your $2000 per month but doesn't pay off the lien before the 104 weeks are up.

What if the truck needs a $15,000 repair while you are driving, who pays?

What if the truck is involved in an accident, who pays the repair deductable, the freight damage deductable, the Qualcomm damage deductable, the property damage deductable?

What if the truck is out of service for repairs for an extended period? Will you be able to make the $500 weekly payments?

What if you have a medical situation that keeps you off the road for an extended period?

Will you be keeping 100% of all monies earned by the truck during the 104 week operation.

Finally, You will have no leverage with the expedite carrier if this deal turns sour. The carrier's lease is with the truck owner, not you. You will not even have the assurance that the carrier will allow you to sign on a six year old truck when you finally get the title.

We hate to sound like sour grapes, but I believe that more of these deals fail than succeed.

arrbsthw · Mar 25, 2008

you could probably buy a new truck for $2000 a month. We had priced a D Unit out for about $1900.00 month with no money down. It had 96" sleeper with Sat tv plus liftgate.