Prime lease = get out now?

Discussion in 'Prime' started by Diana.Prince, Jan 2, 2016.

  1. Diana.Prince

    Diana.Prince Bobtail Member

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    Nov 20, 2015
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    Hi all, without offering a lot of details or personal info, my spouse just started leasing with Prime, 3rd week in and I'm worried.

    First week's take home pay was $824 after earning $3,300 to the truck. The second week was worse, $525 with roughly $3,200 to the truck. The third week we had 2 days of scheduled home time, and we've now had almost 4 days because they've not set another load. We've been blowing up the phone and crickets. We watch fuel milage, tolls, and only purchased the required things, so am at a loss how they can take the guaranteed amount minus the amount earned and leave us with the rest. So, I'm assuming everything negative I've read about leasing is true. I've owned my own business for years, and someone here is making money when 75% of the money is going to Prime and nothing to the driver. Can someone shed some light? Does it get better, or will we always be in the red? I say, get out now, how can one live on $500 a week- he made more back in the training days! We went into this eyes wide open, but this is the worst possible scenario.

    Thanks.
     
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  3. DragonTamerBrat

    DragonTamerBrat Road Train Member

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    This is New Year's Weekend. There isn't any freight running, or very very little. Three weeks does not a trend make. Keep at it. This was a very bad time of year to start a lease...most places close for 3 day weekends at Christmas and New Year's.
     
  4. passingthru69

    passingthru69 Road Train Member

    Well in your settlements, what are all the items being listed for the cut. Do they match up with what they state they will take out every week?
    Sometimes some companies might take out twice for the same expense. whoops accident. they will say
    You should have a list of set weekly take out. Then your fuel/ advances etc.
     
  5. Kry0n

    Kry0n Light Load Member

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    Mar 22, 2015
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    $525 for the second week and that's before his taxes are paid out.
    So more like $400 for the week.
    Also keep in mind no Medical Insurance is taken either.

    I was looking at the lease through Prime and think i'm pulling back.
    The risk that Prime keeps providing you loads in this economy and staying at a profitable Rate per Mile ($1.40+)
    is to great for me.
     
  6. Scooter Jones

    Scooter Jones Road Train Member

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    When you and your husband ran the numbers, how many miles or revenue generated per month did you figure you would need to cover expenses, pay yourselves a decent wage and make a profit after that?
     
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  7. Diana.Prince

    Diana.Prince Bobtail Member

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    Nov 20, 2015
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    Thanks! True. I know that with years past, just a little more pressure cause it's a new business ;)
     
  8. rachi

    rachi Road Train Member

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    They Didn't.
     
    darthanubis, Longarm, Poacher and 2 others Thank this.
  9. Kry0n

    Kry0n Light Load Member

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    Mar 22, 2015
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    And the pressure that the business fixed costs are still due at the end of the week.
    4 days without any loads, I pray you have reserve money to cover the fixed costs.
     
    Diana.Prince Thanks this.
  10. Diana.Prince

    Diana.Prince Bobtail Member

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    Nov 20, 2015
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    I've gone over the numbers several times and had another set of eyeballs too, everything adds up, but what I don't understand is at the end they take a guaranteed amount and what your total was for that week, and subtract them to get your take home pay. Which confuses the hell out of me. If you made for example, $3300 minus expenses was $2600 then they subtracted the guaranteed amount to give you the take home amount. If you earned $2600 minus expenses, I'm not sure why they are taking more out?
     
  11. rachi

    rachi Road Train Member

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    Alot of drivers are in the hole every week, zero net pay. Why didn't you heed the advice on here against leasing?
     
    ghjjf and darthanubis Thank this.
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