Can You Be An Actual Owner/operator At Prime?

Topic 24838 | Page 1

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Austin P.'s Comment
member avatar

This is probably a dumb question but I just want to be sure. I obviously hear a lot about people leasing on with Prime, but I never hear about people just buying their own trucks and working as o/o's with Prime. So, you can do this, right?

Bobcat_Bob's Comment
member avatar

Yes you can, but don't do it.

Rainy 's Comment
member avatar

Yeah, they do a "lease purchase" with $14,000 down and no credit check (both used and new trucks) and you run under their authority. they also have a division where you get your own authority and run load boards....the same loads the rest of us run. There are truck requirements and honestly.... for the lease purchase you need to lease a truck for 3 months to order the truck then 3 mos until it comes in.

as someone who has looked into this a lot... it just doesn't add up for a newbie. You really need to kmow the freight lines and rates a nd understand the fueling to make it work.

Most people never read the contracts and dont understand just how much money is being taken every week.

Austin P.'s Comment
member avatar

Yeah, they do a "lease purchase" with $14,000 down and no credit check (both used and new trucks) and you run under their authority. they also have a division where you get your own authority and run load boards....the same loads the rest of us run. There are truck requirements and honestly.... for the lease purchase you need to lease a truck for 3 months to order the truck then 3 mos until it comes in.

as someone who has looked into this a lot... it just doesn't add up for a newbie. You really need to kmow the freight lines and rates a nd understand the fueling to make it work.

Most people never read the contracts and dont understand just how much money is being taken every week.

So would it also be a bad idea to buy a used truck from somewhere unrelated to Prime and use that?

Turtle's Comment
member avatar
So would it also be a bad idea to buy a used truck from somewhere unrelated to Prime and use that?

I don't know all the details, but Prime has specific requirements for any trucks that haul Prime freight, whether it's an O/O or not. Wheelbase, weight, collision avoidance systems, governed speed, etc. are some of the requirements.

Rainy 's Comment
member avatar

double-quotes-start.png

Yeah, they do a "lease purchase" with $14,000 down and no credit check (both used and new trucks) and you run under their authority. they also have a division where you get your own authority and run load boards....the same loads the rest of us run. There are truck requirements and honestly.... for the lease purchase you need to lease a truck for 3 months to order the truck then 3 mos until it comes in.

as someone who has looked into this a lot... it just doesn't add up for a newbie. You really need to kmow the freight lines and rates a nd understand the fueling to make it work.

Most people never read the contracts and dont understand just how much money is being taken every week.

double-quotes-end.png

So would it also be a bad idea to buy a used truck from somewhere unrelated to Prime and use that?

Terrible idea. First, you wouldnt be to get a decent interest rate because you never owned a truck before. and you are expected to put down a much higher down payment. Also, the truck would need to be fairly new as Turtle pointed out.

and the fact you have to ask these questions tells me you really dont know anything about trucking and/or prime and would be putting yourself at considerable risk.

little known fact.. a lease op can have an accident and if a self insured company such as prime or any of the big ones deems the accident to be at fault due to negligence.. that lease/owner op is held accountable for the damages...not just the deductible. same is true for freight..so slam on your brakes and you didnt properly secure the meat load... BAM! $50,000 bill, not covered by insurance.

just last week 2 idiots hit a low clearnace awning at a local hotel. $10k each.

Just go company and learn as much as you can with prime or any other company paying for the damages. cause chances are, you are gonna hit something

Rainy 's Comment
member avatar

BTW... one new guy here was complaining recently that he inquired about insurance as an OO and they wanted $8,000 as a down payment to open the policy.

but please, dont do it.

Tractor Man's Comment
member avatar

This is probably a dumb question but I just want to be sure. I obviously hear a lot about people leasing on with Prime, but I never hear about people just buying their own trucks and working as o/o's with Prime. So, you can do this, right?

Austin, Just out of curiosity, why do you want to own your own Truck? Have you ever heard the saying: "A boat is a hole in the water, into which you pour money"? Same thing applies here too. Who have you been talking to that makes you think owning your own Truck is a good idea?

Austin P.'s Comment
member avatar

double-quotes-start.png

double-quotes-start.png

double-quotes-start.png

Yeah, they do a "lease purchase" with $14,000 down and no credit check (both used and new trucks) and you run under their authority. they also have a division where you get your own authority and run load boards....the same loads the rest of us run. There are truck requirements and honestly.... for the lease purchase you need to lease a truck for 3 months to order the truck then 3 mos until it comes in.

as someone who has looked into this a lot... it just doesn't add up for a newbie. You really need to kmow the freight lines and rates a nd understand the fueling to make it work.

Most people never read the contracts and dont understand just how much money is being taken every week.

double-quotes-end.png

double-quotes-end.png

So would it also be a bad idea to buy a used truck from somewhere unrelated to Prime and use that?

double-quotes-end.png

Terrible idea. First, you wouldnt be to get a decent interest rate because you never owned a truck before. and you are expected to put down a much higher down payment. Also, the truck would need to be fairly new as Turtle pointed out.

and the fact you have to ask these questions tells me you really dont know anything about trucking and/or prime and would be putting yourself at considerable risk.

little known fact.. a lease op can have an accident and if a self insured company such as prime or any of the big ones deems the accident to be at fault due to negligence.. that lease/owner op is held accountable for the damages...not just the deductible. same is true for freight..so slam on your brakes and you didnt properly secure the meat load... BAM! $50,000 bill, not covered by insurance.

just last week 2 idiots hit a low clearnace awning at a local hotel. $10k each.

Just go company and learn as much as you can with prime or any other company paying for the damages. cause chances are, you are gonna hit something

You're right, I don't know much about trucking. I've just been pondering this idea for the last few days, thinking if I did do this, it would be at least a year from now. I would be able to buy the truck outright, since it would be a full year of team driving with no bills at home. The insurance stuff does scare me though, good point.

double-quotes-start.png

This is probably a dumb question but I just want to be sure. I obviously hear a lot about people leasing on with Prime, but I never hear about people just buying their own trucks and working as o/o's with Prime. So, you can do this, right?

double-quotes-end.png

Austin, Just out of curiosity, why do you want to own your own Truck? Have you ever heard the saying: "A boat is a hole in the water, into which you pour money"? Same thing applies here too. Who have you been talking to that makes you think owning your own Truck is a good idea?

The net earnings really do seem to be up there for o/o's who know what they're doing (not saying I do at all, I'm just considering it for the future).

Pete E Pothole's Comment
member avatar

You have seen proof of an O/O earnings?

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