Sold On Leasing... No, Lease Purchase!
Topic 25014 | Page 6
Ldrship I had 5 years driving experience under me before I bought my truck. I had been around the trucking business since the late 80’s. My best friend’s dad owned a small trucking company in Ca. They moved heavy equipment. I hung around, but never drove or even rode with my buddy. But I was around enough to pickup on some things, mainly in the maintance arena. I do a fair amount of work on it myself, and my shop at home is setup for it to an extent.
My point was to show, it wasn’t your first rodeo. You had lots of experience before you made the leap. You didn’t try to jump in day 1 after training.
Two frogs are sitting on a log...
One makes a decision to jump in.
How many frogs are still sitting on the log?
. . . .
TWO! . . . (Making a decision is NOT the same thing as taking action!) . Even a great plan if not well executed is, at best, a great plan!
Jason... no one here wants to see you fail!
Quite the contrary! If you indeed have found the "secret sauce" to REALLY being successful at trucking... imagine how much better those already at or near the top of their game could do! I'm sure there would be rush to follow your example.
But to just dismiss their advice based on years of their successfully doing this job at the highest levels in the industry... that's just nuts!
Just my $.02. Your mileage may (and probably will vary).
But please... keep it civil! Besides it being the right thing to do... it is a requirement to be here. I want to see your settlements as much as anyone.
It would be a shame for you to be banned from here due to inappropriate behavior before you have a chance to prove everyone else wrong!
HOS:
Hours Of Service
HOS refers to the logbook hours of service regulations.
Yes sir Ldrship it was after much learning along the way.
Bump....Hey Jason, how is the lease purchase decision working out? Haven’t heard any numbers from you since, well.....
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.
I can’t follow any more of this because it’s way too complicated to understand for me anyway so let me break it down:
STAY A COMPANY DRIVER FOR AS LONG AS YOU HAVE A CDL. In other words:
NEVER EVER LEASE, LEASE PURCHASE OR BECOME AN OWNER OPERATOR. It’s not worth it in the long run. You say there is potential for better income. Remember POTENTIAL is NOT GUARANTEED. Don’t wreck yourself financially. Stay a COMPANY DRIVER.
Sorry about all the caps. I just want ya to understand. Rickipedia: Ya created a crazy person here in me. 😜
CDL:
Commercial Driver's License (CDL)
A CDL is required to drive any of the following vehicles:
- Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
- Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
- Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
- Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
Owner Operator:
An owner-operator is a driver who either owns or leases the truck they are driving. A self-employed driver.
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.
Jason..........still waiting for your reply!
Am I being a pain in the ass? Probably.........but you opened this can of worms. If you spent any amount of time on this site, you should have expected these responses. So.......put on your big boy pants and agree to post your weekly settlements. You are a self admitted tech geek, so it will be real easy to do!
Smashes the invisible LIKE button for this reply. 😜
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.
He is too busy counting his fat stacks of money to reply!
He is too busy counting his fat stacks of money to reply!
I’m sure that’s the most likely reason!
Is there a pot stirring emoji we can add?
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Ldrship I had 5 years driving experience under me before I bought my truck. I had been around the trucking business since the late 80’s. My best friend’s dad owned a small trucking company in Ca. They moved heavy equipment. I hung around, but never drove or even rode with my buddy. But I was around enough to pickup on some things, mainly in the maintance arena. I do a fair amount of work on it myself, and my shop at home is setup for it to an extent.