[james dilley]

I have been Approved to go to A major trucking Company. If My Disability falls thru. The Question is Would you pay 10cents per mile for A 100% bumper to Bumper warrenty?? Or A Selected Amount per week say $200.00 for Maintance?? I'll be looking at A 2007 Centcery or Columbia O O Spec'ed with A 13 speed. Any thoughts?? And NO you don't need to know about these trucks to throw out your thoughts!!! I Am thinking The Century and the 10 cents A mile my self. As what you don't use you DO get back!!

 

[tiogacounty]

My only thought would be to carefully research the claim that you alledgedly get a refund of unused funds on a warranty. As a general rule, most non-OEM warranties are best avoided. I have had a finance manager in a car dealership look me straight in the eye, and gave me the "If you don't use it, you get a 100% refund" lie. I reviewed the contract and asked where this was stated? He replied, "it's actually a dealership policy. Show up at the end of the policy period, and the dealership manager will refund all your payments". After I stopped laughing, we were both pretty clear on the fact that he was totally full of sheet. I would also talk to a few repair facilities, and ask if the honor the warranty, and what their experiences have been? I know a few mechanics, and the all have horror stories of customers that have been either flat out robbed by a warranty company, or had to jump through hoops and play games to get the company to honor their commitment. Good luck. BTW, I have a few friends and neigbors that are over the road truckers. JMHO, but I would rather work at McDonalds, than sign a lease with a trucking outfit. One guy I know works for a small company on local runs, the other is an owner operator. Both are just scraping by, an would love to get out of the game. Think long, and hard, before you sign on the line. Hang out in the truck stops and talk to the guys on the front lines. I'm sure the company recruiter is going to have a much rosier story than the ones you hear from the guy who is driving the wheels off his new rig and can't afford to take a more than a day off every three weeks, because the company owns him. No thanks.

 

[james dilley]

The Rebate of unused funds is in the Lease contract. And ruled by the D O T .Any/All companies have by law 45 days to Rebate All unused Monies. This won't be my First dog/Pony show. I have bought A few trucks thru Lease Purchase So I know the deal..

 

[Up North]

If you drive 13,000 miles a month the 10 cents a mile warranty becomes $1,300 per month. Isn't that a lot of maintanence budget for a 2007 Tractor?

Perhaps you can educate us all James- Why would a person want to buy/lease a rig if you could drive for a major Company, let them buy the rig, let them change oil & tires, let them give you a new tractor every 2-3 years, and let them take the risk of finding loads, financing and insuring the rig?
Oh, and swipe their fuel card, LOL.
I'm sure you must have a good reason for buy/lease a rig. Care to educate the rest of us? :shrug:

 

[Blu3duk]

OK I can see the question makes some sense and the answers thus far provided are honest.... I have a couple questions about the dime per mile warranty.... does it also include tires? and all drive train parts and pieces? and then will it cover down time expenses such as towing to a mechanic of your chaice or do you have to partake in a qualified mechanic of the policy issuer choice getting there at your expense?

500 miles per day x 7 days = 3500 miles and $350 per week [though unless you are driving with a partner averaging that would be outside the real world log book you are allowed lawfully]
so begs the question are you going to average more than 2000 miles per week over a 52 week period?

and will the $200 cover the same as the warranty should you break down? How far from the terminal are you going to be traveling? all 48? east coast? left coast? will the $200 per week roll over if no maintainence is preformed for the week?????

No wonder you asked, I can see the confusion easily.

William
Central Idaho for the terminally patriotic

 

[james dilley]

It covers Tires Belts hoses Oil changes and Road service if needed including Towing if theres A major break down, And by leasing You can pick and choose where you run. NO forced dispatch. And theres greater TAX breaks by leasing. You get to take more home! Its Just you have More freedom. I can take A week off and NO one gripes (let A Co. driver do that) If you are A co. driver you go where they tell you when they tell you. I would say the biggest thing is your Retirement As A lease/ Owner you Pay more in, Therefore you will have A larger Pension.. Oh there are Hundreds of Reasons to lease and just as many NOT to lease.. You need to understand I Am 2nd generation Owner Operator This is what I was brought up knowing.. And I will be able to walk away if/when I want.

 

[Blu3duk]

What is the buy out if you decide the messican trucks are taking all the loads away and it is no longer feasible to run?

in other words is there a minimum miles you have to pay for before you can cancel the policy?

Other than that, I would think if you are a steady fella driving for a company which will give you the loads you need to roll with and not leave you stranded or deadheading 300 miles to pick one up and not really covering the expenses you need to meet, the per mile policy sounds like the way to go..... but I may still not have the ins and oouts as I do not have a copy of the contract in front of me to read for one of those

OMG!!!!! I did not see that in there when i was signing!!!!

William
Central Idaho..... where men are men and one senator denies he tries to pick some up for a game of "brokeback bathroom"

 

[james dilley]

The Lease is Open end. you can walk A way with A 7 day notice ,Of course you return the truck to the Terminal. And do A walk around Then fill out the papers. Then they have 45 days to settle the accounts.. I have walked away from 2 leases as the Equiptment Was not what was stated!!!

 

[Blu3duk]

actually I meant the warranty policy... if you can walk away from that, then I would personally lean toward going that way...... I know many truckers who never had anything go wrong and I know a few that had major overhauls where the $200 per week would not even come close to touching the problems they came up against...... It is an expense that is deductable BEFORE you pay the self employment taxes on your 1040...... and get hit with the 15 % for being your own boss.

William

 

[Up North]

James what are the differences between the Century and the Columbia?
I have seen the Columbia because my FIL drives one pulling a 53' Van for Swift.
Why do you prefer the Century?

 

[james dilley]

Well the Hodd and the Interior is the ONLy thing I know of thats Differnt. And As long as it make money I don't care what it is.. I used to have A C. O . E . With A 162" wheelbase. That truck could get into and out of Tight spaces.. I'd like to see A 200 " plus tractor do that!!

 

[Beeman]

I have been Approved to go to A major trucking Company. If My Disability falls thru. The Question is Would you pay 10cents per mile for A 100% bumper to Bumper warrenty?? Or A Selected Amount per week say $200.00 for Maintance?? I'll be looking at A 2007 Centcery or Columbia O O Spec'ed with A 13 speed. Any thoughts?? And NO you don't need to know about these trucks to throw out your thoughts!!! I Am thinking The Century and the 10 cents A mile my self. As what you don't use you DO get back!!

I just heard on Open Road (XM radio truck network) how over 90% of these deals end in failure. I have never heard anything good come of these lease purchase deals and cannot figure why anyone would get involved in any deal like this. It sure doesn't seem there will ever be any profit. If you have health issues that warrant trying to claim disability what type of health insurance and disability insurance could you afford when getting into a deal like this? It sure seems a company driver job would be miles ahead and you would have benefits,workmen's comp, and be paying into SS just in case your condition worsened to warrant permanent disability SSI claim. How disabled are you that you would try OTR driving?