Best lease ever - A must read for everyone!

Who are you Leasing from? What yr and milage when you got it?

 

The bottom line in simple that leases are a very bad idea. You will always have a few drivers who make it work and try to scream at the world that leasing is a good idea.

 

I made it work....but it's definitely not for everyone. If you don't have a good plan you will sink. Actually if I didn't have the ability to self dispatch I probably would not have succeeded

 

The real question to ask is what differentiates those that succeed from those that fail. If leases are inherently a bad idea then no one would succeed.

But then, most things are a bad idea when you don't have a clue as to what you're doing.
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The only difference with the lease vs buy is the lease is first and last payment is your down and a buy is 20 percent down with good credit. For most they don't have the down so the co is giving the truck to get their freight hauled.

 

Very few successful lease drivers get on here and brag. Reason is, even if lease guys are successful someone comes on here and tells him he is wrong. Usually a guy who has never leased.

Usually its the guys that fail at LP that come on here and scream making the LP deals seem even worse.

 

Why do I want to lease a truck?
1. I make more money, even after deductions than a company driver.
2. I can pick and choose my own loads, as I am paid % this is a big deal. Miles mean little to me.
3. I stay out 3 to 4 weeks and go home for 7 to 10 days. Since I pick my loads I take a 10 at home once a week at least and if I need a reset it's almost always done at home.
4. I pick my route. If I have a buddy that lives a few miles out of route, or a sight I want to see I can do that if I want. I don't need to ask for permission.
5. At the end of my lease there is a nice completion check, plus escrow accts are paid to me. Very very nice bonus for me.

Couple of other "points" you raised.

I pay all the companies bills.

You think a company drivers earnings somehow float in the nether? That use the money you are making to pay their bills.

Lets look at some numbers since you are a fan of that.
You got a 2000 mile load. At .45 CPM you are making $900.
Conservatively let's say your company charges $2.00 per mile to the customer. They made $4000 on the load. Say 300 gallons of fuel at $3.89 per that gives you $1,197.00 for fuel. Operating costs for the truck that week equal lets say $615.00. Since it only took 4 days to do the load that's $352 in truck costs. Throw in another $100 for payroll taxes and health benifits for your 4 days of work.
So that's
$4000 - 1197 - 352 - 100 that equals $2351. Minus your $900 you made the company $1451 dollars for that load.
Guess they donated that money to charity since they only spend the money they make off the LP guys.

since I don't know what your companies freight rate is I used the rate I was paid on my last load and what my truck expenses are. I would say these numbers are very conservative and your company charges more and it's costs are less.

 

Well all i can say is i just put in a new clutch and had a new rearend installed plus got 4 used super singles 15/32. All in the same week. Im still running and making money. How did i do it. I saved money from every check for the last 3 yrs. I got 15 months to go. And yes i got enough for my buyout x2. This is my 1 st time ever leasing. I can do it anybody can. This is my 3 rd year leasing having missed a payment yet. I work for a good company i do my job period

 

When all my bills are paid including taxes. My take home is about .48 mi. Alot of company drivers are making .42 mile before taxes and taking home .36 . Thats the difference. It isnt much but enough to make you want that extra income. Because really thats the only way to get a raise in trucking. Otherwise your just getting by going nowhere. In 15 months ill have a truck you will have a job. Ill have both. So ask yourself which would you prefer. I chose to advance my career others just mosie along .

 

who do you drive for?