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Old 07.11.2008
Bobtail Member
 
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J.B.Hunt Lease Purchase

I'm just here to say that since i've been a LP driver with JB, that I have been treated with respect and very fairly. I was given the choice of a few trucks on the yard, performance dispatch, a good maint program and got to know my DM very well.
I get consistant miles and great pay. I get .90 as a base and right now the FSC is set at .50 cpm. The trucks have a real time fuel consumption meter so you can see how many mpg's you are acheiving at any given time. This allows me to get some great fuel milage and I have been averaging over 7.3. The truck payment is minimal (258.50) a week and you get four free weeks a year from fixed expenses so you can take time off if you want to. With the fuel milage and 2,500.00 miles a week, I can put around 2,000.00 towards my fixed expenses of 430.00 weekly leaving me with 1,570.00. Some of the 1,570.00 goes into my maint account and a fuel escrow account which Get the extra with-holding back every quarter. I have been with them since november 07 and will get title to the truck in nov 2010. I will probably just sell it at that time and lease a newer, even more efficient truck.
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  ^ Top   #2  
Old 07.11.2008
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.50 cpm FSC. I've seen worse.

C.R. England's misleading $1.25 per gallon cap for example.
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Old 07.11.2008
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Are you serious about that truck payment? I've never seen a lease purchase program that low. I'm still stinging from when England was ripping me off.
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Old 07.11.2008
Jack Of All Trades
 
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Must be a used truck, how used are we talking? That is good mileage, but the miles per week is a bit low, unless you get home lots.

I have a friend that used to work as a lease operator for JB, he leased a new truck and paid it off, he sold the truck to come off of OTR, he was getting 3500 miles /week, but getting home about once a month.
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Old 07.11.2008
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The base rate is low, but so are his payments. If JB pays fuel taxes, base plates and permits, then this seems to be a better deal than many I have read about. Hopefully there is some kind of warranty on the truck also.

Don't get me wrong, I am no fan of L/P, just comparing deals.

The up front numbers can be misleading as far as high base rate or low base rate. It's what they pay for you, and what you end up with in your pocket.

What's the difference if you are making 1.40 per mile but your expenses are 1.00, or you make .90 and your expenses are .50. You still end up with .40 either way.

If this post is legit, and his numbers are correct, at least a person can take some time off without going broke like you would with a $900.00 per week lease payment.
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  ^ Top   #6  
Old 07.11.2008
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I love a good spanking

You would be the exception...and not the rule.

Most JB lease ops are gone within 90 days of coming on board. Or at least the ones I have spoken with...that's been the case.

A $1.40 a mile with FSC ?? Forget it !!

2500 miles a week = $3500

Fuel # 7.3 mpg = 343 gallons # $1646 per week.

Which leaves $1850 minus your payment of $258.50 leaves about $1600

A payment of $258, tells me the truck is at least 3 years old. And must be driven at 60 mph to achieve these MPG. Or lots of light loads.

I'll give the MPG to you though. Then that leaves me to work with the remaining balance.

The average escrow account should have at a minimum, 7% of the gross. $245 per week in your case. Most folks like to use 10-15%...let's stick with 7 though.

Now we're down to $1355 a week.

Which has NO taxes taken from it. Nor does it have any health insurance taken from it. How much does your CPA charge you for keeping your books? Or do you fly by the seat of your pants?

Do you have disabilty insurance also?

Since most JB drivers struggle to get 2000 miles a week. Company and lease. The numbers look even more dismal.

Sorry..I'll keep my piddly ### company job. I feel very secure with my little $1k average per week.
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Old 07.12.2008
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Quote:
Originally Posted by KeystruckerGal View Post
I'm just here to say that since i've been a LP driver with JB, that I have been treated with respect and very fairly. I was given the choice of a few trucks on the yard, performance dispatch, a good maint program and got to know my DM very well.
I get consistant miles and great pay. I get .90 as a base and right now the FSC is set at .50 cpm. The trucks have a real time fuel consumption meter so you can see how many mpg's you are acheiving at any given time. This allows me to get some great fuel milage and I have been averaging over 7.3. The truck payment is minimal (258.50) a week and you get four free weeks a year from fixed expenses so you can take time off if you want to. With the fuel milage and 2,500.00 miles a week, I can put around 2,000.00 towards my fixed expenses of 430.00 weekly leaving me with 1,570.00. Some of the 1,570.00 goes into my maint account and a fuel escrow account which Get the extra with-holding back every quarter. I have been with them since november 07 and will get title to the truck in nov 2010. I will probably just sell it at that time and lease a newer, even more efficient truck.
WHAT kind of break do you get on fuel if any how does it work with JB if you do
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  ^ Top   #8  
Old 07.13.2008
Engineer Of Doom
 
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Quote:
Originally Posted by Bigray View Post
WHAT kind of break do you get on fuel if any how does it work with JB if you do

When I was still at corporate, we offered something like 10% off the street price if the LP Driver waited until JBHT Terminal to get fuel. and there's a terminal in almost every major area.
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  ^ Top   #9  
Old 07.15.2008
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this is a reply for you guys. I figured my fuel, which now stands at 7.4 (been watching it). pay around .40 cpm off of the pump price. The last fuel I bought was 4.34. I figured my fuel cost per gallon to be .60 cents per gallon and the fuel costs per mile to be .09. This leaves .81 cpm for truck payments, my escrow is paid, i have 2,700.00 in my maint account (.05cpm), a new set of kelly kda 22.5's, I pay 14.75 per month for tax service, I stay at motels a lot for the write off, and yes it is an older truck (2004 w/550.000) but with the use of motorcote and lucas fuel additives (and a not in a hurry dispatch) it does really good. I had a piddly settelment for 3,400 miles two weeks ago and after the smoke settled I took home 2,220.68. this week was a 3,200 miler with better fuel milage so we will see on friday what the settlement will be. Yes it's true that I do go slow, but there is plenty of time for getting these loads to and from so why speed? I have lost the desire to be in the left lane and have dropped out of the race. I have instead opted to let anyone and everyone who wants to pass me by, after all when they come up behind me JB Hunt is plastered all over the back of the trailer. Even when i do rarely get in a hurry, (the truck goes 72) everyones grabs the left lane anyway lol...
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  ^ Top   #10  
Old 07.15.2008
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OH, and sorry dance4u i forgot to tell you that I am a veteran so I get almost free health insurance from the VA.
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