Riverside Transport Lease Purchase?

No thanks !seems like everything your doing is revolved around that lease! Id rather buy a 1985 cabover paid for and have it leased to a company. Go home when i want <stay out as long as i want. I have a friend leased to mercer grossing 7800 a week and pocketing about 3900 a week . In a truck he paid 19,000.00 for. He runs about 3200 miles a week and is home every friday afternoon till sunday night. And he chooses where he wants to go. And if he dont like the loads he dont take them. Hes doing very well!!!!

 

I am personally heading out to RTI on Sunday afternoon for they LP. I have done a few LP's some good others horrible (Cealdon). This one looks nearly identical to the ACT (American Central Transport) lease program. I would still be with them if i didn't have such a problem getting loads back to middle Georgia. Have a friend who works for RTI as an LP and is clearing between 800 and 1500 a week depending on the miles, if he goes home or not ect. hopefully i will do about the same.

 

But after clearing 800 - 1500 a week, he has taxes as a 1099 operator correct? You make that as a company driver in most places now days.

 

One gentleman quoted 20% for tax. INCORRECT!! As a L/P you are responsible for self employment tax of 15.8% on your first 114,000 of income PLUS income tax of 20% or so. Smart thing to do is set aside 35% total for tax. When comparing L/P to company driver take 94.1% of your earnings per mile compared to company cpm to allow for YOU paying company side of SS

 

Rmember your SS tax is after all your expenses (your profit) if you are a corp or LLC you can pay part of your profit as salary and pay SS tax on it and part of you profit as a dividend saving you some taxes,, As for your earnings after expenses,,you make about the same as a company driver but you are gaining equity in your truck,,If the truck is about $140K new and after 5 years it is paid for you can sell the truck for about $60K or more,,that is $12K more a year in your pocket before you pay the capital gains tax on the sell of the truck..

 

I leave out tomorrow to go to kc and I've been reading a lot of post on here just wondering how many of the drivers that have posted good things on here about RTI are still there and still making a descent living

 

Been with Rti for a month now. Leaving this week for eagle. Rti is a joke.

 

I'm curious what was the joke

 

Them saying that a person would make a good living at rti

 

Yeah, if you crunch their numbers all RTI is doing is dumping the maintenance and fuel costs off on the driver. They still make their profit per load but the driver foots the bill....on a good week the driver will make what a company driver will make on an average week at a decent company.