Kllm Lease/purchase

don't do it,,ATA members recently gave cost of operating cost and they say it cost them an average of $1.68/mile which includes driver wages, if you are leased to a carrier and you are not making $1.68/mile or more you will be loosing money especially if you do a lease purchase of a used truck,,many carriers do not do oil changes often enough some like Heartland, Walmart, change oil at 40,000 miles or more,, carriers buy new trucks and sell them off or con drivers into lease purchases just when maintenance cost start to rise rapidly, Just don't do it,,in 99% of the time with many companies paying over 45 cnts/mile with benefits a driver will make more money as a company driver, remember as an owner operator you will also pay double social security taxes too.

 

Lol, What ?

 

My trainer at FFE (since acquired by KLLM) had great successful with their lease program. Being a line haul guy and trainer no doubt played a role in his good fortune. He got a truck out of the deal and now has an employee, former student running for him. Now he's on a KLLM lease and has nothing but good things to say. Last I talked to him he was earning $2800 per week and he's not a man to exaggerate. I believe he still does line haul work for KLLM but no longer trains. He's a talented businessman, mechanic, and talker. He would have been successful at anything, but loves the road.

 

Simple, look at your pay stub and see how much SS tax you paid. X's that by 2 and that's how much tax your wages paid. Your employer paid the other half. If you're self employed, you pay it all. It's 12.4% of your income up to $118xxx per year.

 

Called self employment taxes. Check 'em out on the IRS web.

 

The truck won't put you in the poor house out of the gate,but once the warranty runs out at 500k,you will quickly realize that .90 per mile is a joke.If you were as experienced as you claim,you would already know this,and would be an O/O at a company that pays you what you're worth.

 

There are much better programs out there, that's for sure! Have you look at Schneiders IC choice program?

 

I guess all the successful lease/purchase drivers are too busy making those big bucks hauling those multi-stop Tyson loads.