Flatbed Predatory Lease Agreement

I'm still making double what I was as a company driver.

That right there is the craziest statement I've seen in a long while. Could you give us some actual numbers? Honestly, that statement tells us you don't even understand your own numbers.

Nick, you've struggled with truck driving from the beginning. All the ideas you express have no bearing on success at this. Where do you get the idea that the only way to do well at trucking is to be the owner? That's a huge fallacy and it's crushing your chance at making a go of this.

The little time we've had with you is strictly limited to how frustrated you are with your pay. I think you have miscalculated this job. This is a great career with some decent pay, but it's not ever going to make you rich. Stick with real estate. Hopefully you understand it better, or atleast have a better chance at being lucky with it.

That's funny I drove 134,000 miles last year's a company driver and grossed 85k. 4 months into this lease I've grossed 95k. Last quarter I netted $40,000. I definitely know what I'm doing and I run my ass off I work 70 plus hours a week 7 days a week running recaps. I've been hyper successful in this industry I just know that I'm leaving money on the table I have examples from friends at other companies that are leasing for instance I net around 3K after all expenses a week but my friend nets around 5k

I'm still making double what I was as a company driver.

That right there is the craziest statement I've seen in a long while. Could you give us some actual numbers? Honestly, that statement tells us you don't even understand your own numbers.

Nick, you've struggled with truck driving from the beginning. All the ideas you express have no bearing on success at this. Where do you get the idea that the only way to do well at trucking is to be the owner? That's a huge fallacy and it's crushing your chance at making a go of this.

The little time we've had with you is strictly limited to how frustrated you are with your pay. I think you have miscalculated this job. This is a great career with some decent pay, but it's not ever going to make you rich. Stick with real estate. Hopefully you understand it better, or atleast have a better chance at being lucky with it.

First things first, it's funny you say I've struggled at trucking,

Here's my story about how I became a trucker and where I am today.. three and a half years ago I was working 40 hours a week as an assistant kitchen manager at outback while simultaneously putting in 40 hours a week at my trucking school, that went on for 8 weeks.

I graduated the trucking school and joined Western Express, one of the lowest paying mega carriers out there. For 3 months I made $0.35 a mile with $25 tarp pay.

After 3 months of doing that I asked the company if there was any way I can get more money, they said become a trainer, so I did just that. Still making my $0.35 per mile but running teams with trainees for another 8 months. I got burnt out working 20 hour days between driving my shift and staying up the majority of my trainees shift.

So after I have about a year experience I find this job work as a company driver get the high miler award my first year qualify for every quarterly bonus and got number one rank in my company for two quarters in a row. Made around 80k gross as a company driver.

4 months ago I signed on a lease to the same company, I knew the terms and conditions but I'm a Hands-On kind of guy so when I start doing something I can obviously understand it more in-depth.

During these last 4 months I have made 95k gross and net 45k. I have redacted settlements but I do not know how to send them to you.

Until a few weeks ago I didn't have all the numbers I needed to compare i.e other companies settlements, but now I do and I addressed this to my company hopefully they will consider increasing our pay, I know there's more money to be made.

Have a good day old school and don't judge so quickly!

I'm still making double what I was as a company driver.

That right there is the craziest statement I've seen in a long while. Could you give us some actual numbers? Honestly, that statement tells us you don't even understand your own numbers.

Nick, you've struggled with truck driving from the beginning. All the ideas you express have no bearing on success at this. Where do you get the idea that the only way to do well at trucking is to be the owner? That's a huge fallacy and it's crushing your chance at making a go of this.

The little time we've had with you is strictly limited to how frustrated you are with your pay. I think you have miscalculated this job. This is a great career with some decent pay, but it's not ever going to make you rich. Stick with real estate. Hopefully you understand it better, or atleast have a better chance at being lucky with it.

I'm still making double what I was as a company driver.

That right there is the craziest statement I've seen in a long while. Could you give us some actual numbers? Honestly, that statement tells us you don't even understand your own numbers.

Nick, you've struggled with truck driving from the beginning. All the ideas you express have no bearing on success at this. Where do you get the idea that the only way to do well at trucking is to be the owner? That's a huge fallacy and it's crushing your chance at making a go of this.

The little time we've had with you is strictly limited to how frustrated you are with your pay. I think you have miscalculated this job. This is a great career with some decent pay, but it's not ever going to make you rich. Stick with real estate. Hopefully you understand it better, or atleast have a better chance at being lucky with it.

Nick, I'm not judging quickly. You are the one who is dissatisfied. You are complaining about a "predatory" lease that you agreed to.

During these last 4 months I have made 95k gross and net 45k.

I believe you Nick. Those numbers appear realistic to me. My point is that you are not going to make a whole lot more money than what you are. You keep thinking you're leaving money on the table. I'm not so sure you are correct in that. Where will it come from? This is a commodities business with an average profit margin of about 5%. You are getting just about as much as you can. My net is very similar to yours as a company driver. Only mine will stay good no matter if fuel is going up or rates are crashing.

I can never seem to make the math work in favor of truck ownership or leasing. Trust me, I've tried hard to make it come out. It never does for me.

You're making over 100,000 net as a company driver? What are you hauling? In the math that has worked for me with owner operator it's about a 50/50 with the lease purchase. What you gross you get about half of after taxes and expenses.

If you're out right an owner I think it's more 60/40 from gross because you don't have the write off for the truck payment so you're paying more in taxes but you're getting an extra $2,000+ back in your pocket a month.

But pretty much my friends making 30% more than I am. The way I'm looking at it I'm leaving about $500 a day on the table. That's $3,500 in 7 days, $14, 000 a month, $168,000 a year (obviously that would be if rates stayed the exact same and I never went home). I just can't let that opportunity pass.

I think what you see in me that you mischaracterize is that I'm struggling or not content with my pay but in reality I'm just hyper ambitious and I'm trying to milk as much as I can out of this. I never expect anything less or more than what I have put in. Hopefully within the next 5 years I will own my own truck and I will be starting my semi retirement. Probably work a week or two out of a month and have my rental properties pay me for the rest of the year.

Nick, I'm not judging quickly. You are the one who is dissatisfied. You are complaining about a "predatory" lease that you agreed to.

During these last 4 months I have made 95k gross and net 45k.

I believe you Nick. Those numbers appear realistic to me. My point is that you are not going to make a whole lot more money than what you are. You keep thinking you're leaving money on the table. I'm not so sure you are correct in that. Where will it come from? This is a commodities business with an average profit margin of about 5%. You are getting just about as much as you can. My net is very similar to yours as a company driver. Only mine will stay good no matter if fuel is going up or rates are crashing.

I can never seem to make the math work in favor of truck ownership or leasing. Trust me, I've tried hard to make it come out. It never does for me.

$100K a year is not unreasonable at all. I grossed over $80K last year running recaps, usually taking an average of four days off each month, and never really pushed myself at all at 68 CPM. Six months of that was working on a dedicated WM account out of Cheyenne, WY. I had zero maintenance, rental, or equipment fees.

I have plenty of friends making 100k a year as a company driver, it comes with the experience and personal motivation. With the figures you’re putting out there, I really don’t understand why you’re complaining because compared to the majority of leases out there, you’re doing very well and just because your other buddies might make more somewhere else, that doesn’t mean you will and you have to keep that in mind. Old School, I’m honestly quite happy fuel prices are up. The National fuel surcharge this week is 59.4% of which I get all of it along with the fuel discounts at the pump. I’m making an extra 800-1000 a week just off the fuel surcharge. Where I’m at, the fuel surcharge is figured as such that it’s a wash regarding fuel with no extra out of pocket when fuel prices were “normal”. When prices spiked this summer and stayed high, it was up to 68% and I was making an extra 12-1400 each week thanks to the fuel surcharge. I’m still bewildered that there are drivers out there doing leases who supposedly get 100% off the fuel surcharge, yet still have to pay extra each week, now that’s predatory.

I find it ironic that almost every time a driver, company or lease driver, doesn’t like something about their situation or pay, then the company is “Predatory”. I wonder if when a driver screws up, the personnel in the company offices say “ That’s a predatory driver for sure”.

If you want to email me your redacted settlements I can compare them to Primes lease and give you a legit comparison.

truckingalongfun@gmail.com

As for how much a company drivers makes... I am currently at $90,000 when you add my 401k and per diem in. However.what prime pays for my worker mens comp and health benefits puts me quite a bit higher

$84,444 for my taxable income $2300 for non taxed per diem $3377.for prime portion of my 401k

That puts me at $11,268 per month and will be about $135,000 for the year. NO stress, no liability.

Yes, I do CDL Instruction, .but I am home every day and make.my own schedule. Several months this year I did team train.

Ryan said he hasn't heard of a lease company paying more than. $1.50 per mile.

I know for a fact that Prime pays more than that, but the freight is contracted and the market and fuel fluctuates. The Prime lease guys are making after expenses before taxes between 82cpm to 95cpm.

Last year the high rate average was $2.25 per mile. The low was $1.58. now it seems to be about $1.85.

Something that baffles me is that every lease op I know will say "I bank $2500 per week" but they never give the numbers including home time and shop time. It is like they don't realize the lease payment is coming from their profits.... Not the sky. When you include down time...that $2500 drops to $1650 to $1800 for solos.

Teams are between $3300 to $3900 when you include downtime. Despite large checks of $6000 at times.