Lease Operator Advantages

Topic 29092 | Page 2

Page 2 of 2 Previous Page Go To Page:
Anne A. (momcat)'s Comment
member avatar

double-quotes-start.png

Rob T. . . Do we even HAVE any L/O's on TT? I know a handful of O/O's but can't think of any L/O's offhand, in our current member pool.

double-quotes-end.png

Only one I can think of top the top of my head is Brandon Kitts for Roehl. He had switched over to dry van from flatbed. Unfortunately we don't hear much from him though, and I don't think he's shared the financial side of it, though he is training as well. We've had a few members jump in and never come back to tell us how it went. Daniel B had done it for a short time with Prime and said he did well. For him though it was a short enough time he didn't run into any mechanical issues.

Riiiiight~!!

Also, wasn't Ernie (aka: SaltyDog) an L/O for Prime, as well? He dropped off the grid, too.

A good friend of ours (who's kinda popular on Y/T) ScottieD ... was an L/O for JCT for maybe 3 years . . and they had him come into the office (routed him thru the terminal one day) and said he 'violated company policy' something with his videos .. and TERMINATED THE LEASE and he had only 9 months to go, and they left him with a few hundred thousand dollar bill, as well. Look it up on Y/T. SMDH.

He's now pulling flats for a small outfit in Cali . . . which he says he's too old for, but it's all there was. Sad.

~ Anne ~

Terminal:

A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.

Dry Van:

A trailer or truck that that requires no special attention, such as refrigeration, that hauls regular palletted, boxed, or floor-loaded freight. The most common type of trailer in trucking.
Rob T.'s Comment
member avatar

Uncle Rake take a read of this thread by Daniel B about his leasing experience keep in mind he was also training (not available right away, perhaps Kearsey knows when you can train) and didn't do it more than a few months. You could also look into Ernie (salty dog) post history for his remarks on leasing as he's done it quite some time for Prime.

Uncle Rake's Comment
member avatar

Thank you for the link, Rob. I know I have read dozens of articles on TT about leasing and none of them recommended it, to say the least.

smile.gif

But in all that I had not read Rob‘s experience and the responses. If I had, I would probably not have posed my question.

Some of you asked about my current progress. We have a load headed to Washington right now which should put me over 49,000 miles toward the required 50,000. Wherever they send us from Washington should be enough. I wish I knew how soon after reaching the limit they would start processing me toward driving my own truck. Please do not read into that phrase “my own truck” that I have any idea of leasing. (Btw, editing this post on an iPad while lying in the sleeper of a Freightliner on a bumpy road in the Midwest has reminded me why I seldom write posts at this point in my progress. In fact, it has taken me six or eight attempts to successfully hit the preview button for this post.)

Rick S.'s Comment
member avatar

And we don't really do "private comms" - because EVERYONE CAN BENEFIT from the information shared.

There's NOTHING we wouldn't way over the phone - that we wouldn't say here on the forum.

Aside from discouraging new drivers out of the gate (way to much to learn about being a safe/productive driver - without the additional stress/worry of handling the finance/logistics of a lease). If the intent is the "Dream of Owning Your Own Truck" - very few folks I've known walk with their company lease truck - and if they complete their lease obligation, and want to continue - they get themselves into a BRAND NEW TRUCK.

Residual values are still reasonably high on lease-end trucks, and if you having been eating Ramen Noodles for 2 years and banking every $$ - by the time you get enough $$ saved and the residual value of the truck is affordable - it usually has MORE MILES ON IT than you would want anyways (especially for what you have ALREADY PAID IN during the course of the lease).

Leasing a CAR is one thing (from a business standpoint) -leasing a TRACTOR is an entirely different animal...

Rick

Truckin Along With Kearse's Comment
member avatar

Thank you for the link, Rob. I know I have read dozens of articles on TT about leasing and none of them recommended it, to say the least.

smile.gif

But in all that I had not read Rob‘s experience and the responses. If I had, I would probably not have posed my question.

Some of you asked about my current progress. We have a load headed to Washington right now which should put me over 49,000 miles toward the required 50,000. Wherever they send us from Washington should be enough. I wish I knew how soon after reaching the limit they would start processing me toward driving my own truck. Please do not read into that phrase “my own truck” that I have any idea of leasing. (Btw, editing this post on an iPad while lying in the sleeper of a Freightliner on a bumpy road in the Midwest has reminded me why I seldom write posts at this point in my progress. In fact, it has taken me six or eight attempts to successfully hit the preview button for this post.)

Once you reach the 50k miles, tell your FM you want to be placed on the list for a truck. It may take a week or so. Safety and logs evaluate you to decide if you need additional classes. Once a truck is available you will head to the terminal for CBTs and SIM class. There is a logs class and company driver class.. .as well as a maintenance class that is optional. Not sure how covid affects this.

Once given a truck you will inspect it and turn the sheets into the tractor office. You will be given a list of items to buy or get from various departments... ie chains....fuses...wiper fluid etc. Then once ready you go to driver line up for a load.

Terminal:

A facility where trucking companies operate out of, or their "home base" if you will. A lot of major companies have multiple terminals around the country which usually consist of the main office building, a drop lot for trailers, and sometimes a repair shop and wash facilities.

Fm:

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.
Ted P.'s Comment
member avatar

I would "Text" you but not knowing your sleeping schedule I don't want to come off as being rude or inconsiderate to your needs... I have O/O 3 times before in the past one successful purchase program, but that deal I got in 2004 was a "dream" come true...LOL

I baught a 2003 Pete with a 600hp cat, split 18 and hauled liquid freight for like 6 years. ended up selling the truck about in 2010 after my divorce. So I do know things, research using a "fuel card" system it does help manage fueling while on the road. I used "trucker resolutions" which used a fuel card EFS system. and they handled maintenance account for me as well... another really good source for going to "Lease purchase" is getting a 3rd party truck from a dealer and getting financing through a bank or a Cooperate silent investor... that is how I did it, you get the money you need to get the truck's final authority quicker and they make a financial benefit from doing this, yes there is a contract that you must honor, but the freedom is way better then an option of leasing through a company, where unless you have 50% of the truck paid off, they are going to treat you as just an employee for the most part, once you have bought the truck 60% or more, then the situation changes... I had insurance through where I used for the families cars' so I got a big deal for having a Corporate account and for using them as a personal account as well. fuel card comes in handy with this deal cause everyone needs gas to get around as well. IF this is something you are considering, look into the state you reside in about the cost involved getting or becoming an "LLC" some states cost, some it is free, lucky for me Wisconsin is free, don't let any company convince you it has a cost before you look, it is the biggest ploy for them to "rob" you...

I set up a business called "PaPa Trucking" I miss it because I had the truck Optimus Prime was made out of, too bad I sold it... but if you do your "homework" you'll be fine. I hired an attorney to do the lease contract, but it was more than 10 years ago for that... I did email you, and you can give me your times you are awake so I do not disturb your sleeping schedule if you do call or text...K ..... In my opinion, this isn't something to get into unless you have at least 5 years of driving under your belt with an accident free record, MY opinion.. I haven't been in an accident in 12 years presently, at the time I had a attorney on retainer and finances set aside for accidents and fixing the truck which everyone needs already set aside, either way please be careful, going bankrupt while Leasing has catastrophic consequences....

I have read the negative reasons in the forum why new drivers should not become lease operators. I am sure there is wisdom in being cautious when starting out. I am not in any hurry but I do like to research things in advance. I wonder if some of you who are lease operators would be willing to dialogue with me directly through email (raif.turner@gmail.com) or text messaging (806-789-8877).

If not, I would also welcome your input here in the forum.

Thank you for your information.

OWI:

Operating While Intoxicated

Uncle Rake's Comment
member avatar

Thanks for the information, Kearsey.

Thanks for your willingness to help, Ted. I told my fleet manager today that I will be a company driver, and that I am 100% certain of that decision.

Fleet Manager:

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.
Ted P.'s Comment
member avatar

I haven't read this, I am glad you made a decision. there are a few pointers I could give you as a suggestion, first listen to your "gut" whenever your driving, up hills don't always go down in the gear lower, sometimes it is lower than that. Listen to your trainer, or ask the forum here... If the "trainer" has a "radio" stay off of it. most trainers don't let the trainee touch it. Other than that yes, I could fill your head with allot of mumbo jumbo but I won't... Just be sure you try talking to us once you get into the truck by yourself... I would suggest you get a Rand McNally road atlas for Tractor Trailers... Blow up addition, it shows more, not all GPS's are a good fit for a Big Truck. most of the ones available are made for cars, NOT trucks, road weights do change faster then the service can update. From what I know I could flood you with info you do not need now. SO if needs be, Contact this and I will see it...K....good luck

I would "Text" you but not knowing your sleeping schedule I don't want to come off as being rude or inconsiderate to your needs... I have O/O 3 times before in the past one successful purchase program, but that deal I got in 2004 was a "dream" come true...LOL

I baught a 2003 Pete with a 600hp cat, split 18 and hauled liquid freight for like 6 years. ended up selling the truck about in 2010 after my divorce. So I do know things, research using a "fuel card" system it does help manage fueling while on the road. I used "trucker resolutions" which used a fuel card EFS system. and they handled maintenance account for me as well... another really good source for going to "Lease purchase" is getting a 3rd party truck from a dealer and getting financing through a bank or a Cooperate silent investor... that is how I did it, you get the money you need to get the truck's final authority quicker and they make a financial benefit from doing this, yes there is a contract that you must honor, but the freedom is way better then an option of leasing through a company, where unless you have 50% of the truck paid off, they are going to treat you as just an employee for the most part, once you have bought the truck 60% or more, then the situation changes... I had insurance through where I used for the families cars' so I got a big deal for having a Corporate account and for using them as a personal account as well. fuel card comes in handy with this deal cause everyone needs gas to get around as well. IF this is something you are considering, look into the state you reside in about the cost involved getting or becoming an "LLC" some states cost, some it is free, lucky for me Wisconsin is free, don't let any company convince you it has a cost before you look, it is the biggest ploy for them to "rob" you...

I set up a business called "PaPa Trucking" I miss it because I had the truck Optimus Prime was made out of, too bad I sold it... but if you do your "homework" you'll be fine. I hired an attorney to do the lease contract, but it was more than 10 years ago for that... I did email you, and you can give me your times you are awake so I do not disturb your sleeping schedule if you do call or text...K ..... In my opinion, this isn't something to get into unless you have at least 5 years of driving under your belt with an accident free record, MY opinion.. I haven't been in an accident in 12 years presently, at the time I had a attorney on retainer and finances set aside for accidents and fixing the truck which everyone needs already set aside, either way please be careful, going bankrupt while Leasing has catastrophic consequences....

double-quotes-start.png

I have read the negative reasons in the forum why new drivers should not become lease operators. I am sure there is wisdom in being cautious when starting out. I am not in any hurry but I do like to research things in advance. I wonder if some of you who are lease operators would be willing to dialogue with me directly through email (raif.turner@gmail.com) or text messaging (806-789-8877).

If not, I would also welcome your input here in the forum.

Thank you for your information.

double-quotes-end.png

OWI:

Operating While Intoxicated

Truckin Along With Kearse's Comment
member avatar

Uncle Rake... Heres the deal on leasing at Prime..

Most lease ops do not even know what they make profit per mile. In 5 years... I have learned they average the same as company drivers when you include their down time. Usually 52 to 60cpm. With no health or workmans comp (people say it is the law to have but it is so minimal it doesnt cover crap)

I have met exactly TWO lease ops who showed me pays where the Lease to Date numbers were 71cpm and 73cpm (company drivers at Old Dominion can make 70cpm line haul). BOTH of these guys told me they never go home. The one took 4 days off for shop time ONCE in 2020. He takes a 34 when he wants.. But never home home. Anyome taking regular home time has the profits eaten

Line Haul:

Linehaul drivers will normally run loads from terminal to terminal for LTL (Less than Truckload) companies.

LTL (Less Than Truckload) carriers will have Linehaul drivers and P&D drivers. The P&D drivers will deliver loads locally from the terminal and pick up loads returning them to the terminal. Linehaul drivers will then run truckloads from terminal to terminal.

CPM:

Cents Per Mile

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

Page 2 of 2 Previous Page Go To Page:

New Reply:

New! Check out our help videos for a better understanding of our forum features

Bold
Italic
Underline
Quote
Photo
Link
Smiley
Links On TruckingTruth


example: TruckingTruth Homepage



example: https://www.truckingtruth.com
Submit
Cancel
Upload New Photo
Please enter a caption of one sentence or less:

Click on any of the buttons below to insert a link to that section of TruckingTruth:

Getting Started In Trucking High Road Training Program Company-Sponsored Training Programs Apply For Company-Sponsored Training Truck Driver's Career Guide Choosing A School Choosing A Company Truck Driving Schools Truck Driving Jobs Apply For Truck Driving Jobs DOT Physical Drug Testing Items To Pack Pre-Hire Letters CDL Practice Tests Trucking Company Reviews Brett's Book Leasing A Truck Pre-Trip Inspection Learn The Logbook Rules Sleep Apnea
Done
Done

0 characters so far - 5,500 maximum allowed.
Submit Preview

Preview:

Submit
Cancel

Join Us!

We have an awesome set of tools that will help you understand the trucking industry and prepare for a great start to your trucking career. Not only that, but everything we offer here at TruckingTruth is 100% free - no strings attached! Sign up now and get instant access to our member's section:
High Road Training Program Logo
  • The High Road Training Program
  • The High Road Article Series
  • The Friendliest Trucker's Forum Ever!
  • Email Updates When New Articles Are Posted

Apply For Paid CDL Training Through TruckingTruth

Did you know you can fill out one quick form here on TruckingTruth and apply to several companies at once for paid CDL training? Seriously! The application only takes one minute. You will speak with recruiters today. There is no obligation whatsoever. Learn more and apply here:

Apply For Paid CDL Training

About Us

TruckingTruth was founded by Brett Aquila (that's me!), a 15 year truck driving veteran, in January 2007. After 15 years on the road I wanted to help people understand the trucking industry and everything that came with the career and lifestyle of an over the road trucker. We'll help you make the right choices and prepare for a great start to your trucking career.

Read More

Becoming A Truck Driver

Becoming A Truck Driver is a dream we've all pondered at some point in our lives. We've all wondered if the adventure and challenges of life on the open road would suit us better than the ordinary day to day lives we've always known. At TruckingTruth we'll help you decide if trucking is right for you and help you get your career off to a great start.

Learn More