REAL numbers in leasing a truck: Read before you consider leasing a truck!

If you want to make money with a lease or buying a newer truck with a EPA 07 and up engine, good luck. On average, getting around 2,200 miles a week and .60 a mile for fuel, you're not left with much. Figure that you will gross $37k a year, the rest of that is around $40k will go to maintenance and savings. $68,640 for fuel, $37,000 gross income if your lucky, then you have $40k which will cover your truck payments and maintenance account, take that $40k, divide it in half, that's $20k left for maintenance expenses. IF you get in the shop for an EGR cooler or turbo not under warranty, say good bye to 5-7k in the blink of an eye. Your truck will probably gross around $145k a year, sound's good, right? WRONG. You will only get about $37k if things go well.

DO the math:

2,200 miles a week average for the year
.90 cents a mile PLUS .45 cent fuel surcharge = $1.35
2,200 X 52 weeks = 114,000 miles a year X $1.35 = $153,000.00
114,000 divided by 6.5 MPG = 17,538 gallons, basically .60 CPM for fuel. .60 X 114,000 miles = $68,400.00
Truck payments $500.00 a week X 4 = $2,000.00 X 12 = $24,000.00
Insurance, misc book keeping, permits, etc = $160.00 a week X 52 weeks = $8,320.00
114,000 X .12 CPM maintenance = $13,680.00 a year


$153,000.00 gross to the truck for the year
MINUS $68,400.00 fuel
MINUS $8,320.00 insurance, permits, book keeping
MINUS $24,000.00 truck payments
MINUS $13,680.00 maintenance account
----------------------
$38,320.00 left to pay for your salary and DON'T forget to take out for income taxes! Oh, don't forget! IF you have something bad happen that's not covered under warranty, that $38,000.00 take home is going to be even less if you can't cover it with your maintenance account. All it takes is an EGR cooler not under warranty, turbo, DPF ruined and you will be hating life.

Sound fun? OH, wait you still need to get health and dental insurance too! Gosh, what a deal! Where do I sign up for a lease?!?

Keep in mind, this is 2,200 miles a week average. You have to go home, allow for break downs, bad weather in the winter, etc. You can not assume you will get 3,000 miles, or your truck wont break down, or you wont be in an accident and have to pay wrecker fees, etc. You can make more and do better as a company driver.

The only thing about leasing a truck, you get to go faster, you can deny loads, you can pick home time more often. That's it. You're stuck with a white elephant. If you have a family, think about them before you get too excited. A lease op is a glorified company driver. So please, be careful. For those that are making it, well, that's great. But, not everyone is as great as you are.


What can you make as a company driver?

"BUT THEY SAY YOU MAKE MORE MONEY LEASING!" .32 cents a mile X 2200 X 52 = $36,608.00 oh wow! Look at that, you can make the same if not more as a company driver than as a lease operator! Surprise surprise!!! Plus, you can go home and not worry about truck payments, break downs, or any of this jibberish.

 

Excuse me, I've never leased a truck and never will. I like to save people from crossing over to the dark side. Thank you. The Western Express lease actually looks attractive, but reading how the company treats you, well there goes a crumbled piece of paper into the trash can.

I'm more interested to know why you assume I leased a truck, when I know the numbers? If people knew the numbers they wouldn't lease. It's as simple as being realistic, asking others and getting the facts.

 

No? I've never considered or posted anything about leasing from Western.

 

That's funny. Did you have your company truck at Phoenix? I can't believe they flew you out too.

 

You are correct. Every lease deal is different, but the majority will fall into the category that I posted. Driver's need to due their research, and change the numbers to what is being offered to them.