FFE Transportation Services announced the restructuring of the company’s lease-purchase program for owner-operators interested in participating in its existing lease-to-purchase program. The program is branded “Drive-To-Own,” and FFE says the revised terms reduce lease payments by an average of 20 percent. In addition, the program encourages ownership by reducing the residual or ‘balloon’ payment due at the end of lease terms on qualified equipment.
FFE says the restructure is intended to increase cash flow of its contractors in the program and to motivate ownership in the shortest time possible. All current contractors leasing equipment from FFE through prior programs recognized the improved economics of “Drive-To-Own” as of Feb. 13, and all qualified candidates entering FFE now are eligible for the same terms.
Along with the reduced payment terms, FFE says it offers competitive labor rates when DTO contractors choose to use preferred vendors for maintenance and repairs. FFE also provides parts and tires on a cost-plus arrangement. FFE says this opportunity, along with access to the company’s national network of road service providers, allows its contractors to minimize downtime while controlling maintenance and repair expense.
“FFE is continually looking for ways to improve the satisfaction and success of our independent contractors,” says John Hickerson, executive vice president and chief operating officer of the Dallas-based company. “We understand that our growth and success is dependent upon the success of these critical partners. This is a first step as we continue to analyze opportunities to keep our contractor programs among the most competitive in the industry.”