Financial Advice for those wanting to be an O/O

Dave has some good advice, but most times he gets too full of himself. How does going on and about your lake house, or your new ski boat, help someone get out of debt?

 

I’m not leased to anyone, my direct stuff is negotiated to what we agree on, usually hourly for that, My LTL stuff is broken down to linehaul/FSC per pallet that the warehouse prints out, Average 11-1300 miles a week now, some times 8-900, sometimes closer to 2k though, miles is just wasting time chasing Pennys

 

I would prefer the weeks doing just 11 miles

 

Well its the luck of the draw then when youre able to establish direct customers. Not everyone has that kinda luck to be paid hourly. Good for you. But for those of us who are Leased on (never wanted too however because of the rates on the load boards and a new truck I didn't want to risk it)... However, the transparency amongst some Carriers are full of air when they say they're transparent but never show their 'true rates' their getting the loads for (which means they could say it's $400 pay 80% = $320 but pay only $80 to the o/o leased on giving only 20% of that load)...HOW Does the Lease on carrier know?

Point being with mile pay at lease you can calculate and know what you're actually earning.

 

Absolutely. Dave helped 1,000's of people out. There is no doubt at all.
He just got too full of himself.

 

Some of the more reputable companies that pay percentage use a third party billing system such as CASS so that you have the customer invoice to verify the numbers are correct. The predictability of the set mileage would definitely provide nice peace of mind.

 

Thanks, but I don't know if they use them because of their payout statements. On any of the customers invoices I see their feea are documented on tye BOL's deliever fees as $0.00. Possibly they track it for thenselves though a CASS type system but would never disclose that to their Leased on Carriers on their statements.

 

What's the mileage rate your carrier is paying you?

 

No mileage rate. I'm paid by percentage however, I know from the work I've done the pay statements don't equate to the percentage per load isn't what they initiated.

 

That's why percentage is so prevalent. They can make up any number they want and pay your BS percentage off that magical lie. To make matters worse, many of them have their own brokerages so they take a chunk off the top before their carrier division even gets it. Then they chop it down some more before they give it to their contractors.