Over the past 13 years he has tailored a contract that sets you up to fail. The trucks all have band aids on them because the mechanics will privately tell you that they are only authorized to patch up the problem even though there is likely an enormously costly repair that should be completed before you leave. The type that allows you to get far enough away, from whatever they are calling themselves today as a company due to the nasty reputation, because then you will end up having to pay for it yourself (the tow if you are 500 miles away and 30 days since you signed).
That's it, they are told, "just make sure that truck runs for 30 days without any major problems, that way we don't have to pay for it. The sucker, I mean customer is responsible!" I want you to think about this next few paragraphs long and hard. You think I am wrong and you are getting a good deal.
Okay, giving you the benefit of the doubt, then lets look at the realities of your truck. A 5,000.00 down payment is 20% of the price of a decent used truck, figuring 25k for a used truck. It's 10% of the cost of a very good condition later model truck, figuring a 50k price tag.
So this is not a "low'"down payment, and this GPS tracking setup by the dealer is practically unheard of in the trucking industry. And it's not a good sign. Even the worst deals made don't include such a thing installed on the truck. And you better make sure that it doesn't function like the ones on used cars. They have to capability to remotely disable the vehicle and shut off the engine, and the last thing you want to have happen is a dealer in New York remotely shuts off your engine and it's supply of air for your brakes while you are descending a grade with a load on the back.. In fact, that well could be the last thing that happens.....
If you managed to save up the 5000 for the down payment, that still doesn;'t cover the operating expenses for the truck, your eating money out on the road, and a fund put away for repairs. Believe me, if you don't have that money in hand, then you are starting out way behind the eight ball. A deer can jump out and wipe out your hood on the first load you take, and you have to pay the wrecker and repair bills.
At most carriers, it's going to take a few weeks until you see income, and there is a nice little bill of about a thousand a week that has to be pushed into the fuel tanks.
By the way, regardless of what that dealers tell you, that truck is not ready to go out on the road. You can't get a fully road ready truck from a new truck dealer, and you sure aren't going to get one from some place that specializes in weak credit. That truck nees to go into a shop and be looked over with a fine toothed comb by a qualified and experienced mechanic. And you can bet that he is going to find things that need to be repaired or replaced. And if you don't replace them expect that they will break out on the road, as far as possible from help at the worst possible time. break down in any major city at a busy time, and you will go on an 800 dollar tow truck ride becaue they won't let you linger on the side of the road.
You haven't said yet who you are going to pull for, but you need to look at their base plate and insurance programs. They can be drains that do nothing but cost you more money that you make. You're usually better off finding your own insurance and plates. And if your carrier terminates your lease, you are expected to unbolt their license and send them back immediately. If you aren't at home at the time, that's too bad and your problem, not theirs. That's why it's many times better to own your plate, rather than allow some company's plate to be on your truck. But you must buy the 48 State IRP from this rental sham and it will run you close to $3K. Yes, you have to carry their insurance also. It does not matter if you would save pockets full of money by using your own. EVERY DOLLAR YOU EARN MUST MAKE IT TO THEIR POCKETS. THEY HAVE REFINED THIS SCAM TO AN ARTFORM.
Bottom line, this company f*cks every owner operator that wanted to do better for himself and possibly a family and thought this was the route to take. Let me assure you, this is the DEAD END.