Best Lease Purchase Companies?

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Cotter Pin's Comment
member avatar

Hello folks,

I am currently a lease operator for Prime, and am looking into better companies that offer a real lease purchase opportunity. The loads are up and down, and since starting the lease, Prime has dropped the fuel surcharge every week down to 0.15 cpm currently, Not to mention never getting reimbursed for tolls, washouts, etc. I currently get home about 3 days after a month out, and would like to hear from someone with experience with other companies. If I could get home more that would be great, but making $$ is the real deal here. I have been clearing about $900 net, and still have to pay quarterly taxes on that. I could go home, work 2 jobs, and bring in that much or better. Prime's lease payments are excessively high compared to many companies that I have looked into, $933 for the truck weekly, and $70 for the apu , not to mention several other deductions. Also, I used to know a guy years ago that owned his own truck and trailer, dealt with independent brokers, picked a load to run every other day that would pay $2500, dead head home, and be home every night, and off on the weekends. If I were to lease independently from the many lease dealers not associated with any company, and work with an independent freight broker, could that be an option? I know there are many people on here that may be more knowledgeable in this area then me, therefore I seek your help. I am operating under my own LLC currently. Thanks!

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

APU:

Auxiliary Power Unit

On tractor trailers, and APU is a small diesel engine that powers a heat and air conditioning unit while charging the truck's main batteries at the same time. This allows the driver to remain comfortable in the cab and have access to electric power without running the main truck engine.

Having an APU helps save money in fuel costs and saves wear and tear on the main engine, though they tend to be expensive to install and maintain. Therefore only a very small percentage of the trucks on the road today come equipped with an APU.

Indy's Comment
member avatar

Hello folks,

I am currently a lease operator for Prime, and am looking into better companies that offer a real lease purchase opportunity. The loads are up and down, and since starting the lease, Prime has dropped the fuel surcharge every week down to 0.15 cpm currently, Not to mention never getting reimbursed for tolls, washouts, etc. I currently get home about 3 days after a month out, and would like to hear from someone with experience with other companies. If I could get home more that would be great, but making $$ is the real deal here. I have been clearing about $900 net, and still have to pay quarterly taxes on that. I could go home, work 2 jobs, and bring in that much or better. Prime's lease payments are excessively high compared to many companies that I have looked into, $933 for the truck weekly, and $70 for the apu , not to mention several other deductions. Also, I used to know a guy years ago that owned his own truck and trailer, dealt with independent brokers, picked a load to run every other day that would pay $2500, dead head home, and be home every night, and off on the weekends. If I were to lease independently from the many lease dealers not associated with any company, and work with an independent freight broker, could that be an option? I know there are many people on here that may be more knowledgeable in this area then me, therefore I seek your help. I am operating under my own LLC currently. Thanks!

Schneider Choice IC drivers seem happy.

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

APU:

Auxiliary Power Unit

On tractor trailers, and APU is a small diesel engine that powers a heat and air conditioning unit while charging the truck's main batteries at the same time. This allows the driver to remain comfortable in the cab and have access to electric power without running the main truck engine.

Having an APU helps save money in fuel costs and saves wear and tear on the main engine, though they tend to be expensive to install and maintain. Therefore only a very small percentage of the trucks on the road today come equipped with an APU.

Cotter Pin's Comment
member avatar
double-quotes-start.png

Hello folks,

I am currently a lease operator for Prime, and am looking into better companies that offer a real lease purchase opportunity. The loads are up and down, and since starting the lease, Prime has dropped the fuel surcharge every week down to 0.15 cpm currently, Not to mention never getting reimbursed for tolls, washouts, etc. I currently get home about 3 days after a month out, and would like to hear from someone with experience with other companies. If I could get home more that would be great, but making $$ is the real deal here. I have been clearing about $900 net, and still have to pay quarterly taxes on that. I could go home, work 2 jobs, and bring in that much or better. Prime's lease payments are excessively high compared to many companies that I have looked into, $933 for the truck weekly, and $70 for the apu , not to mention several other deductions. Also, I used to know a guy years ago that owned his own truck and trailer, dealt with independent brokers, picked a load to run every other day that would pay $2500, dead head home, and be home every night, and off on the weekends. If I were to lease independently from the many lease dealers not associated with any company, and work with an independent freight broker, could that be an option? I know there are many people on here that may be more knowledgeable in this area then me, therefore I seek your help. I am operating under my own LLC currently. Thanks!

double-quotes-end.png

Do you really not know that this is the wrong site to be asking such a question???

Schneider Choice IC drivers seem happy.

Yeah I knew it would be risky posting this here. Just trying to go further than the BS the recruiters always promise. I spoke with a Schneider IC the other day in Maine, and he had a lot of positives to say about them.

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

APU:

Auxiliary Power Unit

On tractor trailers, and APU is a small diesel engine that powers a heat and air conditioning unit while charging the truck's main batteries at the same time. This allows the driver to remain comfortable in the cab and have access to electric power without running the main truck engine.

Having an APU helps save money in fuel costs and saves wear and tear on the main engine, though they tend to be expensive to install and maintain. Therefore only a very small percentage of the trucks on the road today come equipped with an APU.

Robert B. (The Dragon) ye's Comment
member avatar

If, big if, you're dead set on continuing the lease op deal, find a company that leases the truck and then you sign on with whoever you want. Don't get stuck tied to one company's freight, you're losing money potential left and right. As far as what you say you're making weekly, I almost make that after taxes as a company driver and I'm relatively new and on a lower, training pay scale.

I don't have the headaches, maintenance issues or accounting issues to deal with either.

DAC:

Drive-A-Check Report

A truck drivers DAC report will contain detailed information about their job history of the last 10 years as a CDL driver (as required by the DOT).

It may also contain your criminal history, drug test results, DOT infractions and accident history. The program is strictly voluntary from a company standpoint, but most of the medium-to-large carriers will participate.

Most trucking companies use DAC reports as part of their hiring and background check process. It is extremely important that drivers verify that the information contained in it is correct, and have it fixed if it's not.

Jessica A-M's Comment
member avatar

Out of curiosity, why did you decide on lease?

I couldn't do it myself. I'll be making $700/week just in training. Maybe 550-600ish after taxes. That's pretty good as far as I'm concerned.

Cotter Pin's Comment
member avatar

Out of curiosity, why did you decide on lease?

I couldn't do it myself. I'll be making $700/week just in training. Maybe 550-600ish after taxes. That's pretty good as far as I'm concerned.

The only reason I got into this again was for job security and to make some good money. I could make $500-600 being home every night, showering daily, and sleeping in my own bed. I may try changing dispatchers, which is probably where my problem is to be honest. I have cleared anywhere from $346-$2400 net. Average has been $1400 net, but lately I have only been getting crap runs for the last few weeks. I went lease to make more money really, but missing birthdays, anniversary, holidays, etc. just as a company driver doesn't cut it for $500-600 a week. After training, give it a few months especially if you have a family, and you will understand. The job is not hard, stressful at times, but not always, and definitely not a bad way to earn a living. It can be a great career, but I wouldn't want to work for somebody else the rest of my life. As a company driver they can basically spit in your face and you can't buck back. As a lease operator, I can tell them where to go and how fast to get there. I'm not tied down to Prime, as I can lease my truck wherever I want, but there are much better terms out there then what I am paying with this lease. So this is what I am trying to find out if anyone else out there has any positive experiences leasing with any other companies or truck lease programs. You are going through Prime right?

Dispatcher:

Dispatcher, Fleet Manager, Driver Manager

The primary person a driver communicates with at his/her company. A dispatcher can play many roles, depending on the company's structure. Dispatchers may assign freight, file requests for home time, relay messages between the driver and management, inform customer service of any delays, change appointment times, and report information to the load planners.
The Persian Conversion's Comment
member avatar

Cotter, pay no attention to Indy [whose posts were deleted by the Moderators], he's simply bitter that he has been unable to persuade the more seasoned veterans and moderators on this forum that leasing is the way to go. There are many conversations on this topic right here on TT.

What he really means is that most people on this forum are adamantly against leasing or buying a truck, and your current situation is the perfect example why. Someone like Brett can explain in much more detail (and he already has on many occasions). I dont know what Indy is referring to when he claims this is not the place for an open exchange of ideas, unless he means that false ideas get squashed quickly here in favor of the truth.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
The Persian Conversion's Comment
member avatar
[Indy's quotes deleted by moderator]

Indy, really, can you show one single example of the moderators being "abusive" in any way? I mean come on. They are nothing but professional, and they have a right to tell their side. Do they ever get defensive and accusatory towards people who disagree with them, as you are being now? No. They simply counter your points with their own valid points, but you can't accept that for some reason and have to resort to childish tactics to make yourself feel like you're justified for not listening to them. Dude, put on your big boy pants and come join the world of calm, rational debate.

Sorry for getting a little unhinged there. Indy, I respectfully look forward to your response, as I hope you will respectfully look forward to my counter-response.

Cotter Pin's Comment
member avatar

I know there are a lot of negative opinions regarding leasing a truck, which is not hard for me to understand. It's just that Prime has become another overly corporatized company that tries to make as much money on the logistics side, as well as make as much off of their drivers. There really is no long term success with their lease program unless you are willing to train, and now they are changing the requirements in the training division, which means less training that is going to backfire. And to be honest, the majority of students recruited lately seem to have been scraped from the bottom of the barrel. I know the ins and outs of leasing a truck, but I was wondering if there were others out there that have leased, are leasing, etc. with other companies. There are tons of companies out there, and many I have researched, but you don't want to fill out applications and have recruiters calling all day and night just to find out about their programs.

Cotter Pin's Comment
member avatar

Seriously guys, I didn't post this for heated debates, just factual responses from anyone in other lease programs. If it starts going that way I will just unsubscribe from the thread, and let it takes its course. I appreciate your comments, but really I'd like to stay on topic. Thanks

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