CURE Leasing & Maintenance Sees Increase in Business Growth
CURE Leasing & Maintenance is one of the largest providers of financing and maintenance services for companies using independent contractors as part of their transportation programs.
NORCROSS, GA, May 19, 2014 – CURE Leasing & Maintenance, a wholly owned subsidiary of AmeriQuest Business Services, has positioned itself as one of North America’s largest providers of financing and maintenance services for new and late-model vehicles to companies using independent contractors as part of their transportation programs.
CURE's comprehensive programs assist with the necessary separation between the carrier and independent contractor while also delivering valuable cost savings and efficiencies.
CURE has seen the trucking industry evolve, placing an increasing importance on rigorously maintained vehicles and strong driver retention programs.
“We’ve seen the market change and we’ve changed right along with it,” said Brett Petersen, CEO of CURE. “Carriers and drivers alike place great value on the reliability that comes with a new or newer, well-maintained vehicle backed by an extended warranty. By supplying those vehicles, we’re investing in the success of both groups by providing them with the tools they need to make it happen.”
Petersen pointed out CURE’s transition to new and very late-model (2012-2015) vehicles comes at a time when carriers are faced with the tough challenge of recruiting and maintaining drivers. Costs of recruiting drivers can range from $5,000 to $7,000 per driver. “So with that money spent, carriers expect to sustain a high level of driver retention,” he explained. “We spec the best unit that is predetermined with the carrier and the driver’s P&L in mind to assure a successful outcome. The carrier is looking for a contractor that is dependable who operates reliable, well-maintained equipment. Likewise, the contractor wants financing for a quality asset that can be maintained within a profitable budget.”
One example of a CURE success story is RWI Transportation, the nationwide light-asset transportation and logistics company that provides both refrigerated and dry services, based in Wilder, KY, near Cincinnati, Ohio. RWI partners with independent owner-operators throughout the country, and with CURE’s assistance, has been able to significantly expand its market share while minimizing risk to its balance sheet. In the last year, RWI was able to more than double the number of trucks financed and leased by CURE and driven by independent contractors. This has enabled RWI to give independent owner operators the shipments and miles they are looking for.
With CURE’s Sponsor Carrier Program, the contractor buys and finances a truck directly with CURE vs. the carrier providing the truck and/or its financing or the contractor having to already own his or her unit. Under the CURE program, the carrier sets up periodic settlement deductions for the independent owner operator’s CURE lease payment and maintenance fund.
Each unit is managed through a centralized maintenance management program that relieves the contractor and/or the carrier of the administrative burden of managing maintenance, at a significant cost savings on the purchase of parts and service that is included in the program. CURE monitors and scheduled the maintenance and the PM for each vehicle.
“CURE only works with well-established carriers that have the system in place that can support the contractor and assure his productivity,” Petersen said. “This way, qualified drivers can come to us and we can direct them to a Sponsor Carrier that has a program that virtually assures the driver’s success. And we enable carriers to expand their fleets without the need to maintain a leasing or maintenance department. All they need to do is look for freight to keep the contractors on the road and moving goods.”
More information about the CURE Sponsor Carrier Program can be found at cureleasing.com.
About CURE Leasing & Maintenance, LLC
CURE Leasing & Maintenance, a wholly owned subsidiary of AmeriQuest Business Services, provides truck financing solutions and maintenance services to companies
using independent contractors as part of their transportation program. CURE offers comprehensive programs that assist with the necessary separation between the
carrier and independent contractor while also delivering valuable cost savings and efficiencies. Whether a company desires to convert from employee drivers to independent
contractors, transfer financing from the carrier to the driver, or is simply looking for an alternative to existing financing sources, CURE Leasing & Maintenance
offers competitive solutions. More information can be found at cureleasing.com.
Caption: Brett Petersen, CEO, CURE Leasing & Maintenance