Input from swift L/O

Now before anyone gets carried away with the replies saying "Why are you talking about leasing you're just a rookie?!"
Let me explain. I have no intentions of leasing any time in the near future and I may never lease but as I was always taught in the Marine Corps: learn the responsibilities of the rank above you so when you get promoted you already know the job.

I've been running numbers every which and way and can't see how I could turn a worthwhile profit as a L/O but I don't have very good numbers to go off of so here are my questions:

1) how much is the fuel surcharge (I know it changes but I'd like to at least have a ballpark)

2) Is the maintenance fund mandatory. I know I will need one but after it accumulates x amount of dollars, let's say $20,000 will I still have to pay into it. Also do I have free access to it as though it were my money (because it really is)
and if I finish the lease do I get all of the maintenance fund back or if I don't is there any penalty on that account.

3) what are some good numbers for fuel tax/road use tax and the likes.

4) if anyone has any experience with northeast regional I would like some input. I have heard that it pays 70% instead of cpm. And how difficult is it to get onto that board. And do the loads pay well?

5) what do the mt cpm look like and do you get a fuel surcharge while mt

6) Are the payments on the full value of the truck or pro rated because I was told there is a $48,000 balloon payment at the end and if you pay $48,000 more than the truck is worth that is a hefty amount of "interest" so to speak.

I know that is a lot of questions and many of them could be answered by a lease recruiter but I would rather hear and unbiased answer from y'all as opposed to a salesman.

The account I run now pays L/O loaded miles for all miles which is a huge plus but I want to hear about NE regional because if it is profitable it would get me home more often.

Like I said, I have no intentions of doing this anytime soon. I just would like to start some research now and it would also give me an even better understanding of the industry I work in.

Note: I placed this here instead of the O/O forum because I'm asking for information specific to swift.

 

Snowy, why would you post here if you don't have any knowledge of the subject discussed. I asked for info on L/O specifically with swift and you come here with "I talked to a driver once" and you don't even work for swift.

I still would like some more info in regards to my original post. I am aware of the very negative side of leasing but there are a couple successful L/O and I'd just like to get an overall better understanding. Because from what I see it looks nearly impossible to be successful.

note: sorry for the confusion on this post before the edit. I didn't see snowy's post. I edited my post to be more appropriate.

 

Thanks mystic! Plant, I never said it is the only way to become an O/O but I wanted to learn more about leasing as I already have a firm grasp of how it can work to just purchase your own truck. Leasing is certainly a complicated animal and that is why I have many questions about it.

The easiest way to become an O/O certainly is to just buy a truck, but if someone plans to work for a company for 3-4 years saving up money why not just lease a truck and make more money than a company driver (theoretically) and own a truck in the same time span.

As I said before I just want to understand it better so I can better plan my career. No sense in picking door number 3 without taking a look behind the other doors if you can.

Btw thanks for the input plant.

 

Hmmmm.... I don't recall asking any questions that would merit such answers.

Let me clarify the point of this thread again. I just want to know the useful facts about leasing. I understand that you don't own the equipment. I understand that you have to pay when you sign a contract. None of those comments you made were useful in the slightest way.

No one has to try to talk me out of leasing as I have previously stated : I'm not planning on leasing anytime soon and I may never lease. I would just like to explore the option and understand it and its nuances.

It would be a silly notion to completely discard the idea without fully understanding it. That is like a child who doesn't like green beans even though the child has never tasted it. How could you know without studying it first and drawing your own conclusion.

I appreciate that you are worried about me droflex but I am not going to just take your word for it. I am a grown man capable of making my own decisions. I have owned and operated a small company before so I understand the business aspect I just am trying to figure out the industry specific details. And why some L/O seem to be successful when the data typically points in the other direction. I am just trying to gather data to get a full picture.