Sold On Leasing... No, Lease Purchase!

Topic 25014 | Page 2

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Old School's Comment
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Don’t misunderstand- I have no intention of being an owner/operator.

I'm not sure why you think we're misunderstanding something. I'm pretty sure you are the one misunderstanding what you're getting into.

Tractor Man's Comment
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I really want some Koolade with my popcorn ...........but Jason drank it all!

Cwc's Comment
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I really want some Koolade with my popcorn ...........but Jason drank it all!

Chugged that... Stuff

Tractor Man's Comment
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Please post your weekly settlements on this site for us to see what we are missing. Seriously.......we want a weekly update.....will you commit to doing that?

Jason, you specifically reied to Rainy, please reply to this specifically.

Old School's Comment
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Actually weekly settlements can be very misleading. They don't include all the expenses that a lease/operator has. What you want to see is how much income they report on their income tax return.

Rainy 's Comment
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Lease or company- you are responsible for your mistakes.

As for the idiots running low bridges that’s easy: Garmon(?) or Rand McNally.

oh boy. Actually, NO as a company driver you will not be paying $50,000 for a load you screw up. You may go back into training or even get fired, but you are not responsible for the monetary value. So, you are wrong and don't know about negligence.

And no, more drivers hit the low clearances at stores and motels....OR they get lost and hit a bridge. I can show you pictures that 2 lease ops did it last month when i was in sprimo

And NO, you cannot move that QC until you have that truck paid off. Every contract states any and all modifications must get Prime approval or they can null and void that contract. If they want to be petty, they can void your contract and keep your $14k down payment, tire fund and mileage fund for.any alterations without their consent. People do.it but they risk losing money. Even if they find you are not DOT compliant, that contract says "either party can terminate this agreement at any time".

You must lease a truck for 3 mos. before you can order the lease purchase. That takes 3 mos to come in and you must pay the balance of $14,000 down payment once.the truck comes in. Lease or lease purchase that truck is Primes until you pay it off.

Do you know how much you pay in mileage? Teaming you can easily pay $500 per week just in excess mileage. You also pay the employer taxes and OWCP fees for the TNT and the employers share of health insurance premiums if rhey stay on the truck that long.

And you are basing your business plan on getting level 5 hi val loads? what makes you think you will get them? you need to prove yourself first. Dont you think all of the teams want them? and again that is at least 9 mos down the road because you cant train yet. Keep in mind 75% of Prime is lease. Often due to misinformation.

Ask him for the following numbers:

Total annual Gross revenue Total Annual Operation Costs Total Tax Liability

This will give you the actual Net Revenue. Then you need to deduct the Tax liabikity which gives you true "take home".

Then ask for Total miles for the year You can then determine how much he needs for operation costs per.mile and what his average pay per.mile is.

All of this is listed on his last settlement for the year.

These are the true numbers that will tell you what his take home is. not "half of $370k" or whatever he said it was.

BTW.... you will pay for that QC you think sucks, the phone app, the Prepass, and the settlements themselves.

We keep telling everyone, dispatch does not just hand you great loads. You must prove yourself. Dont you think that means the lease loads too?

again, good luck.

DOT:

Department Of Transportation

A department of the federal executive branch responsible for the national highways and for railroad and airline safety. It also manages Amtrak, the national railroad system, and the Coast Guard.

State and Federal DOT Officers are responsible for commercial vehicle enforcement. "The truck police" you could call them.

OWI:

Operating While Intoxicated

TNT:

Trainer-N-Trainee

Prime Inc has their own CDL training program and it's divided into two phases - PSD and TNT.

The PSD (Prime Student Driver) phase is where you'll get your permit and then go on the road for 10,000 miles with a trainer. When you come back you'll get your CDL license and enter the TNT phase.

The TNT phase is the second phase of training where you'll go on the road with an experienced driver for 30,000 miles of team driving. You'll receive 14¢ per mile ($700 per week guaranteed) during this phase. Once you're finished with TNT training you will be assigned a truck to run solo.

Cwc's Comment
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Actually weekly settlements can be very misleading. They don't include all the expenses that a lease/operator has. What you want to see is how much income they report on their income tax return.

Old school I respectfully disagree. I don't wanna see what they report on the income tax returns. I've spent enough time reading on this site and a few others to know what might be involed in that little endeavor. I have a wife that likes to scuba dive in warm places, a very nice new Harley that I'd like to put a few miles on while it's warm out and I need a few more skydives before I can base jump.

It's hard to accomplish all the things I wanna do while running to make payments on a truck.

Turtle needs to share the popcorn.

Tractor Man's Comment
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Actually weekly settlements can be very misleading. They don't include all the expenses that a lease/operator has. What you want to see is how much income they report on their income tax return.

That is interesting. I would have thought that the settlement would show Total pay to the TRUCK for the week minus ALL weekly expenses. Lease payment, insurance, fuel etc. With a gross check to his LLC of the remainder, (if there is any), or a negative balance due to Prime ( which I am sure happens more often than people admit) My understanding is that some of these weekly Truck payments alone are north of $1200.00

Dm:

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.
Tractor Man's Comment
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Jason, I hear CRICKETS! Please respond..........we know you are out there in your luxury hotel room!

Rainy 's Comment
member avatar

Our settlements are extremely detailed. I have some i could post, but there are too many identifiers and i wouldnt expose my friends' identities that way.

The week can easily be $10k Gross....and $3k Net Revenue.... then taxes need to be taken out.

our settlements are many pages long because they show everything. But it is so much that most never learn to read them.

Prime states on its phone ads that "The average lease.op takes home $1300 and the average lease TnT trainer takes home $2300 per week. Therefore you are losing $1000 per week by not team training". No lie, company drivers laugh at that.

TNT:

Trainer-N-Trainee

Prime Inc has their own CDL training program and it's divided into two phases - PSD and TNT.

The PSD (Prime Student Driver) phase is where you'll get your permit and then go on the road for 10,000 miles with a trainer. When you come back you'll get your CDL license and enter the TNT phase.

The TNT phase is the second phase of training where you'll go on the road with an experienced driver for 30,000 miles of team driving. You'll receive 14¢ per mile ($700 per week guaranteed) during this phase. Once you're finished with TNT training you will be assigned a truck to run solo.

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