In this week’s Spotlight News we focus on Luis Garcia, a new truck owner, signed on with Forward Air as his carrier. Early in his career, Garcia became entangled in two lease purchase agreements that took a toll on his earnings, his business and his family. With support from his carrier and ES’s Path to Ownership (PTO), he got his MBA (Much Better Alternative to truck finance), and was able to turn his life and his business around as a true truck owner. Read below to see how nothing was able to hold back this intrepid entrepreneur from reaching his goals.
How did you get started in transportation? I decided I wanted to be in this business back in 2012. Transportation looked like a good career path. I went to school and got my CDL and right out of the gate I bought a truck on my own and hit the road. The truck was really used and I began to have quite a lot of problems with it. At that point I knew I had to do something, so I looked into a lease purchase agreement because I thought it was an easy way to get into eventually owning a truck.
Tell us about your lease purchase experience? Like I said, I thought it was going to be easy to get into another truck because of it being a lease purchase —and it was easy to get into, but there’s a hefty cost involved. It didn’t turn out so well because the truck already had a lot of miles on it from previous drivers and I was constantly doing repairs. Also, my situation with the company I was working with at the time wasn’t ideal either because their pay scale just wasn’t very good. Quite honestly, it seemed like a dead end.
I was in that truck for about a year. I didn’t give up on my dream of eventually being an owner so I kept the truck. It wasn’t long before I realized that I needed to make a change and went to another company and unfortunately got into another lease purchase. It turned out the settlements from this company weren’t much better. The pay made me feel like I was basically working for nothing. I drove this truck for about a year-and-a-half and only had eleven months left to pay on the lease purchase and the truck would be mine. I thought once it was paid off I would be home free to take this truck and pursue other opportunities, but that’s not what happened.
One day I got a call from the lease purchase company telling me they were going to take my truck away. To say I was disappointed, hurt and upset would be an understatement. So, as you see, there truly is no way to beneficially pay off your truck through a lease purchase. Those LP’s really held back my business and took a toll on my finances and my family. Fortunately following these two bad experiences, I made two great decisions that turned my life and business around for the better.
Tell us more about the good decisions you made that changed your life? My first good decision was signing on with Forward Air as my carrier. They are a very good company to work with. Their pay scale and the way they do business is top notch. I’ve been happy with them and I look forward to moving my business forward with them.
The second good decision I made was hooking up with ES and taking their Path to Ownership (PTO). When I first got to Forward Air, they told me about several options to help me get a truck. I looked at the lease purchase option, but because of my two prior bad experiences with LP’s, I knew this was off the table (as you’ll see, this actually turned out to be a good thing). My Coordinator then mentioned another opportunity that I should look at and that opportunity was with a company called ES. He told me I could drive one of their trucks and take their Path to Ownership and work my way into owning my own truck. I thought it sounded like a great opportunity, so I contacted them.
Sure enough, ES put me into one of their trucks as a contract driver for four months. I was able to show my true earning potential and I wound up buying a brand new 2019 Freightliner Cascadia with a ThermoKing Tri-pack APU, which helps save on fuel. The sleeper is pretty darned nice, too! I can’t tell you how great it is to truly own your own truck!
Tell us about your truck buying experience with ES? It was easy, actually. They looked at my work history, overall attitude and my aptitude for doing this job. I submitted the paperwork to Steve Kochensparger at Expediter Equipment Finance and It didn’t take long before I was signing the papers. I got my MBA (Much Better Alternative to truck finance) with ES and now I’m earning the kind of money I always expected to earn as a transportation professional. I can already tell a difference in my bottom line after only being in my truck for a couple of months. This has truly been good for my business, my family and myself.
Were there any surprises throughout the PTO, MBA or buying process? Yes, there were pleasant surprises… ES treated me with the respect and dignity a professional driver deserves. Also, at every step of the way, from my meeting with Danny Vernon at Expediter Truck Sales, through my dealing with Expediter Equipment finance and the entire team at ES, they explained their programs so I was up to speed by the time I bought my truck. I appreciate the level of support ES has provided and I know they will be there for me when I need it, so I Never Stand Alone.
What are your future plans? The experience I’ve had with ES has me thinking about purchasing another truck or two (or possibly more), in the near future. My path is now clear and I definitely see a way forward to be able to build my business. There’s nothing holding me back now!
Entrepreneurs in any profession are dreamers by nature, and transportation professionals are no exception. And when it comes to Success in Trucking, success can mean different things to different people. This week’s Spotlight News subject, Roger Boyd’s definition of success means owning his own truck and doing things his way — with help from ES’s PTO (Path to Ownership) and MBA (Much Better Alternative to truck finance). Read his story to learn how he made the transition from lease purchase agreement to true ownership.
How did you get started in transportation?
I grew up farming and driving grain trucks pretty much all my life. I guess you could say I officially started back in 1992, when a fellow I was working for bought a truck and asked me if I wanted to drive for him. That was all the motivation I needed to get my CDL and I’ve been driving ever since and making a pretty good living along the way.
Tell us how you chose All State as your carrier?
About a year ago, I was searching around for a carrier and I got several offers from other companies, but they were all far from home. I hooked up with All State because they were so close to my home in Ararat, Virginia. That made it really convenient for me and the way I like to drive. They’re a good company to work with and I’ve been here about 8 months and haven’t missed a single week since coming on board. Business is going well — especially since I became a true truck owner through ES.
Can you tell us about your experience becoming a truck owner? Well, I was in a lease purchase agreement when I came to All State. It was a walk-away lease. With ES, I had the opportunity to buy a brand new truck that I would truly own. It stands to reason that a new truck would offer a number of advantages, including increased fuel mileage due to better technology and an APU, less cost of repair and maintenance and better utilization. Purchasing a new truck just made good business sense to me because of the lower total cost of ownership.
I love owning a new truck — and I especially love the lower fuel and insurance costs of running under ES’s Owner Operator program! These operational cost savings, along with bank rate financing (which saves on fees and interest), helps me save money that goes directly to my bottom line.
What brought you to ES when it came to getting a new truck?
I had heard about ES and their PTO (Path to Ownership) and MBA (Much Better Alternative) to truck finance through other drivers. It sounded like a really good deal, so I decided to ask my recruiter at All State about it. He said the PTO & MBA programs were a real thing, and I would have to be with the company for six months before I could make the transition. So just as soon as my six months was up, I contacted ES and they helped me drive the deal home.
Tell us about your experience financing and buying your new truck?
My first contact was with Danny Vernon, Expediter Truck Sales Manager. I told him about the situation I was in with a lease purchase and that I wanted to be a true truck owner. Right away, he went to work and found me a truck. He sent photos and I couldn’t believe it when the truck he sourced for me was the exact color I wanted. He found a dark blue 2019 Western Star 5700 XE. I knew immediately that this was the truck for me! It’s my favorite color and I absolutely love the looks of the Western Star. It’s a sharp looking truck with a ThermoKing Tri-pack APU and a very nice sleeper.
Danny then put me in touch with Steve Kochensparger at Expediter Equipment Finance. He took my six month work history with All State into account in order to get me financed. The entire process was easy and fast. I have only positive things to say about my experience with ES. They were helpful and professional every step of the way.
How has your business changed since becoming a truck owner?
Being a true truck owner certainly has its benefits and advantages. I run my truck and my business hard and I put a lot of miles on my equipment. My new Western Star gets at least a couple of miles per gallon better fuel economy than the lease purchase truck I was driving. It also has much less maintenance costs associated with it. When you add these factors together, it definitely affects your bottom line for the better.
There’s another positive aspect to being an owner — I own my truck, and since it’s mine, I can outfit it any way I want to. There are certain things I like to put on my truck and that’s just the way I like it. I figure since I’m the one paying for it I may as well enjoy it the way I want things to be. I could never really do that with a lease purchase. Personal choice and satisfaction is definitely a benefit and a joy to owning your own truck. I’m looking forward to putting many miles on my truck and earning money.
What does the future hold for your business?
I think it’s important to have goals when for your business. In the not-too-distant future, I would like to own a couple more trucks and make even more money. After all, that’s the American dream, isn’t it?
Ask anyone who has been successful in transportation and they’ll tell you that it can be a tough road finding the right opportunity and support for your business. But that was then — this is now! ES has been at the forefront of creating a paradigm shift in the market for transportation professionals looking for a Much Better Alternative (MBA) with a Path to Ownership (PTO) that’s real — with real support.
Expediting husband/wife team and business partners William and Sol Correa (signed on with XPO as their carrier) recently took ES’s Path to Ownership and got their MBA upon leaving a very unfavorable lease purchase agreement. Read more below to see how they became true truck owners with support from ES.
How did you get into transportation? I looked around at a lot of other businesses and transportation looked like a real growth industry with a lot of opportunity. I had never driven a truck before, but I liked the idea of being my own boss. The transportation field also gave me the opportunity to work (and travel) with my wife Sol. What’s great about our journey is that after four years of being in the business, so many of the dreams that we’ve had about having our own business are coming true! Becoming a real truck owner, and leaving our lease purchase is a big part of that, thanks to ES.
How did you wind up with XPO as your carrier of choice? A friend of mine was running with XPO and he told me about their business model and that they treat their drivers really well. I looked into it, talked with them, and liked what they had to offer. We made the switch to XPO about a year ago. Everything my friend said about the company was true. XPO really cares about us and our business (unlike several of the other companies we’ve worked with over the years). They truly are a great company to work with and we’re profitable running there, too. They’re a great choice for how we do business.
You mentioned earlier that you left a lease purchase agreement, tell us about that? Our lease purchase experience was awful! The truck we had was old and it was in constant need of maintenance and unscheduled repairs. If that wasn’t bad enough, when we called the leasing company for help, they told us we were on our own and many times we had to use parts that they chose in order to get it fixed. We lost a lot of money on repairs with that truck. There were other drawbacks too. Our payments were really high and when you do the math, there’s virtually no way to beneficially pay off the lease. Almost any way you look at it, the lease purchase option isn’t a good one and shouldn’t be part of your business plan.
Tell us about your Path to Ownership and getting your MBA? That’s easy, just like getting financed! We had a friend who is on a team running with XPO who told us about ES’s Path to Ownership (PTO) and their MBA program. It sounded like a great opportunity.We started off by contacting Expediter Truck Sales Manager, Danny Vernon. We told him about our desire to get out of our lease purchase and become true truck owners. He started the process immediately and found us a 2019 Kenworth 680. The truck is fantastic!!! It has a great sleeper, a ThermoKing Tri-pack APU and a whole lot of amenities that we just love. After we settled on the truck, we were soon in touch with Steve Kochensparger at Expediter Equipment Finance. Sol has done such a great job keeping all of our paperwork up-to-date, we were able to hand it off right away, helping to make our approval very fast.
Sol and I have worked so hard over the years to be successful. It was great to find a company like ES that shares our same values. When getting financed, they even took our work history, attitude and aptitude into account. You can’t say that about regular banks when it comes to getting financed. We’re looking forward to making the most out of being true truck owners.
Sol’s Perspective as a Woman in Expediting
What made you want to get into transportation? It’s interesting that Spotlight News is asking about women in transportation, as I’m a member of the Women in Trucking association. I’m familiar with their 150 Women-Owned business challenge. I think it’s great that ES is backing this effort.
To answer your question, transportation looked like a great opportunity to start a business, especially as a woman. It has given me the opportunity to be independent and to work with my husband and to earn a good living.
Can you tell us about your experience as a Woman in Expediting? It can be a challenge to get up to speed when it comes to certain aspects of the business. Paperwork is one area in particular that can be tough to master, as some states can require more paperwork than others. I’ve been particularly diligent in order to learn this part of the business and handle all of the paperwork, documentation and payroll for our business. I also drive! But most importantly, we work as a team and play off of each other’s strengths.
Overall, my experience has been good. It’s important to do your job and always act professionally. Everything else will take care of itself if you take care of the fundamentals. I want women to know that there is opportunity in transportation and they shouldn’t be intimidated. You can do this as a career and be successful — especially with a company like ES supporting you, because with them in your corner, you Never Stand Alone.
We asked William about future plans for their business? Ever since we started, its been our goal to grow our business. Now that we’ve successfully taken the PTO and gotten our MBA, there’s a clear path that we can take to grow a fleet. Our plan is to add more trucks in the near future. We’re looking forward to even more opportunities and growing with ES.
How many times as a transportation professional have you thought about truly owning your own truck and having the freedom to make your own decisions, control your own destiny and create your own opportunities? Amanda Cox and her husband Clint pondered this question after a few lease purchase experiences left them wanting more for themselves and their business. To satisfy their desire to be truck owners, the Cox’s wound up getting an MBA (Much Better Alternative) to truck finance and taking ES’s PTO (Path to Ownership). Now, they’re sharing their story with Spotlight News to help inform others that there is opportunity and true truck ownership if you know where to drive your business.
How did you get into the transportation industry?
My husband, Clint, has had a Class A CDL for about thirteen years and when our kids were old enough to leave home, I decided that I wanted to go out on the road with him. I went to school and got my Class A CDL three years ago. It just seemed like a great way to be with my husband and get paid to see the country — a pretty good deal.
How did you wind up choosing Panther as your carrier?
I drove for a few different companies as a solo for quite a while and I even looked around at other companies, but nothing really appealed to me. I was in a lease purchase with one of these companies and it didn’t go so well. I had heard good things about Panther and thought I would check them out. After doing some research, I called Panther and it seemed like a good fit. Clint came with me and we’ve been there for about a year now. They’re a good company to work with. When we first started with them, we were involved with a lease purchase, but then we heard from other drivers about ES’s Path to Ownership, so we decided to explore this opportunity.
Tell us about your lease purchase experience?
Well, my lease purchase experience wasn’t great, to say the least. With every one we were involved with, the true cost of ownership was always way too high and there never was any support. The second you had a problem, we were always told that we were on our own. It’s really disappointing, too, because you go into one of these agreements thinking you’re going to be a real truck owner only to find out there are all of these restrictions. Also, the paperwork is vague, you perform your due diligence only to find out there’s something the lease company didn’t disclose to you. We were looking for a Much Better Alternative.
Tell us about your Much Better Alternative with ES versus your previous lease purchase?
As I said, we had heard about ES’s MBA (Much Better Alternative) to truck finance from a couple of drivers here at Panther. We asked our manager about ES’s Path to Ownership (PTO) and he said the opportunity was real and many Panther teams had already taken the PTO. We got in touch with the people at ES and the ball started rolling quickly.
The process was much easier than I had expected. We were soon in contact with Danny Vernon, Expediter Truck Sales Manager. He sent us several pictures of trucks that he sourced that were available showing different specifications. He made sure the truck we chose was equipped for the way we do business. We chose a 2019 Volvo 780 with a Tri-Pac APU and a very nice sleeper.
Once we had chosen our truck, Steve Kochensparger at Expediter Equipment Finance stepped up and explained the ins-and-outs of the program. Since we had been burned by lease purchase agreements in the past, we were especially diligent about asking questions. He was upfront and forthright about everything. Once we submitted the paperwork it didn’t take long before we were approved. The entire process was refreshing. ES looked at our work history (and not just our credit) to get us approved.
We absolutely love our new truck! Danny was very helpful even after the sale, reiterating the specifics of the ES Owner Operator Program so we truly understood how everything works together under ES’s umbrella.
What is it like being a true truck owner?
I can tell you that it’s great! Not only is it great being a real owner, the programs offered by ES are awesome as well. We have a great truck and real support that we never had while running under a lease purchase. The new truck and ES truly help our business. We’re seeing greater profits, more freedom and I just love being my own boss!
Tell us a little about your experience being a Woman in Expediting?
Over the past few years, I’ve noticed that more women are coming into trucking as a career. I think there’s plenty of opportunity for women in this business. It’s good to see ES and Panther step up and support the 150 Women-Owned Business Challenge. (Read more about the 150 Women-Owned Business Challenge)
My personal experience has been very positive overall. Sometimes, you run into people inside and outside of the industry who can be negative toward women, but I’ve found this to be very much in the minority. Women are capable of performing tasks as well as men and acting professionally is a big part of it. I do my job and I’m good at it. Having said that, Clint and I are a team and we play to our strengths. I’m very good at preparing paperwork and making sure the business is run efficiently — but I also drive. Clint drives too and does some backing of the truck, but that’s what he likes to do. It’s important to know your strengths and weaknesses when owning your own business. Our relationship works for us and we’re happy with how we run.
Speakingof your business, what are your plans for the future?
The support we receive from ES and the ease of which we were able to finance our truck has gotten us to thinking about maybe building a fleet in the future. This is a move we would never have even considered if not for ES. Now, it’s something we’ve discussed. We’re playing it by ear for now, but that opportunity is definitely in the back of our minds.
If you are considering entering the transportation industry, growing your business, transitioning from a lease purchase into true truck ownership or looking for Success in Trucking, The Spring EGG 2018 (ES’s Group Gathering) is the place to be — and NOW is the time to register, as space is filling up fast!
The EGG is where you can personally meet top transportation leaders and learn about industry trends. Join us, April 27 & 28 at the Landers Center in Southaven, Mississippi.
This year’s GRADE A line up of speakers is loaded with fresh information and reaches across the transportation spectrum in order to share knowledge to help keep you informed about the latest issues and trends in Expediting.
Also, check out the Agenda for the EGG Below!
GRADE A Speakers. GRADE A Knowledge. FRESH Opportunities.
SPEAKERS AT THE EGG INCLUDE: Ellen Voie President & CEO of the Women In Trucking Association
Founded Women In Trucking in 2007, Voie has championed the effort to create greater opportunities for women within the trucking industry. Behind the wheel and across every job category in the industry, Women In Trucking has helped to promote the growth of women entering and advancing within the trucking industry. The organization has more than 4,000 members worldwide, and Voie began hosting a Women In Trucking Radio Show on SiriusXM’s Road Dog Radio Channel in January.
Michael Miller Managing Director of Stephens, Inc. Michael Miller is a Managing Director and head of Stephens’ Transportation & Logistics Group. Mr. Miller has worked in Stephens’ investment banking group for the last eighteen years with the last sixteen years being focused on the transportation sector. He has executed a variety of advisory services for transportation clients, including mergers and acquisitions, hostile defense, strategic alternatives reviews, and public and private capital markets transactions. In the last five years, Mr. Miller has completed over twenty transactions for clients in the transportation sector. Mr. Miller received his B.S. in Business Administration from the University of Arkansas. He resides in Little Rock with his wife and their three children.
Leah Shaver Chief Operating Officer for The National Transportation Institute Overseeing all business operations within NTI and serving on the Executive Committee, Shaver’s career has been spent supporting long-term growth and expansion of the transportation industry while reinforcing its best resource – professional truck drivers. A frequent speaker known across the trucking industry for her expertise on driver compensation and strategies addressing driver recruiting, retention and development of the driver candidate pool, Shaver, who serves on the board of directors of the Women In Trucking Association, has called 2018, “a very robust year for professional truck drivers, especially owner-operators.”
Nick Burch Director of Recruiting for Panther Premium Logistics, a Service of Arc Best
Has five years transportation experience with ArcBest/Panther, specializing in both sales and operations. He managed Panther’s Inside Sales department who was responsible for lead generation and sales support for the Expedite outside sales force. Nick has held multiple roles in operations including Sr. Manger of Carrier Relations and most recently Director, Owner Operator Recruiting. The Carrier Relations team was responsible for recruiting and onboarding of outside capacity partners to fulfill brokerage shipments for ArcBest. In his current role he’s responsible for the recruiting and growth of Panther’s Owner Operator Network. His previous background includes 15 + years of sales and operations management specializing in leading teams of sales professionals to achieve corporate revenue goals. He graduated from Walsh University in Canton, Ohio with a Bachelor’s Degree in Human Resource Management.
Ryan Gilliam Vice President of Recruiting for Forward Air
Ryan, a Chicago Illinois native, started in transportation in 2005 in the nitty gritty Chicago intermodal transportation scene. Over the years Ryan has held the roles of container yard manager, customer service supervisor, dispatcher, regional maintenance director, safety director, and recruiting director. In July of 2017 Ryan, working at Forward Air owned Central States Trucking at the time, accepted an opportunity to move his wife and two dogs to Columbus, OH and enter the role of Vice President of recruiting for Forward Air.
What is The EGG?
The EGG (ES’s Group Gathering) is an event, hosted by ES that affords transportation professionals the opportunity to gather in order to meet others within the industry — and it gives the people at ES the chance to get to know you personally. In addition, the EGG isn’t a “one size fits all” event. Each EGG is different, covering different topics that are important to industry professionals, including: Truck Sales, Financing, Support Services, and any number of services and products offered by ES. In addition to the above speakers, The EGG features a number of carriers, companies and opportunities represented, including but not limited to:
– Stephens, Inc.
– Women In Trucking
– National Transportation Institute
– Forward Air
– Panther Premium Logistics, a service of ArcBest
– Success In Trucking
Along with a great lineup of GRADE A speakers, ES will feature fresh opportunities for networking, an open house at the newly updated ES offices, a tour of The Hub (our NEW Contractor’s Lounge), and great food and fellowship throughout the weekend! ES management and staff will also be on hand throughout the event to get to know you and answer questions.
Come to The EGG to Bring Home the Bacon, register here — It’s FREE, with food and accommodations provided by ES.
We look forward to seeing you here at the Spring EGG 2018 at the Landers Center in Southaven, Mississippi. To learn even more, check out what happened at la
st year’sSpring EGG 2017.
–A Few Spaces are Available– Register Now • It’s FREE to Attend ES pays for your hotel room and meals are also included! or call 877-349-9303 for more information