Lease Purchase Q&A 9/24/2018 #MMLIVE
This #MMLIVE was about our Lease Purchase program. You can watch the replay below and check out our Lease Purchase Qualifications Guide to find out about what Decker Truck line covers and what your expenses as a Lease Purchase drive will be.
Here’s the qualifications for our lease purchase programs:
- Must be 23 yrs of age
- Must have a minimum of 1 yr of OTR T/T experience
- Must hold a valid Class A CDL license
- No major moving violations within the last 3 years.
- No preventable DOT recordable accidents within the last 3 yrs.
- No more than 4 incidents within the last 3 yrs (2 within the last 12 months)
- No more than 4 moving violations within the last 3 yrs (2 within the last 12 months)
- Must not be on probation
- Must run as a Decker company driver for 90 days prior to lease agreement
- Must show consistently above average miles each week
- Must be consistent with on time pick up and deliveries
- No excessive claims, service failures, accidents/incidents or CSA violations
- Must have good time management
- $1500 Down payment (you may choose to have an amount set aside each week from your settlement as a company driver until you have built up the $1500 down payment)
- Truck payments are deferred the first 2 weeks as a LP driver
- No trailer rental fee
- Maintenance Service Fee = $.08/mile on all disptached miles (not to exceed $10,000)
- Safety & Security Escrow = $.02/mile on all dispatched miles until balance of $2000 is reached.
- 2-4 year lease term based off of chosen/available truck year (ie: New truck will be a 4 yr term; 3 yr old truck will be a 1 yr term; 2 yr old truck will be a 2 yr term
- Paid at 75% of accessorial (reconsignment, detention, etc)
- Stop pay is reimbursed at 100% up to $60 per stop
- Lumber pay is reimbursed at 100% of actual lumper expense if paid by shipper.
- Clean DOT inspections paid at $50 each.
- Referral bonuses paid out within 90 days of driver referral hired on between $1500-$2500 per driver hired.
- Monthly Bonus up to $.03 cpm per month.
- Paid Fuel Surcharge on all miles loaded and empty in same manner as above paid miles. Calculation formula: (National Avg Fuel Price – $1.35) / 6 mpg
- One Free Truck wash per month
Let’s talk about Pay Structures. I’ll break them down between the Flatbed Divisions and the Reefer Divisions.
- Truck payment is $675 per week.
- Paid at 72% of the load
- $5000 Bonus paid on 1 yr anniversary with a minimum of 100,000 miles accumulated within the 1st year
- Tarping and Securing loads pays $15 each.
- Base plates are deducted at $48.08 per week.
- MW Flatbed has both weekly and 12-14 day out options. Miles average 1900-2300 per week for MW Flatbed.
- Southern/OTR Flatbed averages 2600+ miles per week with both weekly and every 2 weeks home.
- OTR Flatbed averages $1700+ weekly net pay.
- Truck payment is $650 per week.
- Paid at $1.00/mile on all disptached miles loaded and empty.
- Penny raise every year on anniversary to max out at $1.05/mile.
- $5000 Bonus paid on 1 yr anniversary with a minimum of 110,000 miles accumulated within the 1st year
- Carrier pays for trailer washouts at designated facilities
- DTL furnishes all plates and permits with the understanding that driver is liable for pro-rated cost of plates as result of early termination
- MW Reefer has both weekly and 12-14 day out options. Miles average 2300-2500 per week for MW Reefer.
- West/OTR Reefer averages 2800+ miles per week with a minimum of 14-17 days out at a time.