Here we go... finally a lease-operator!

Thanks for posting your financial data! I am hopeful to be doing the same thing next year, so I will be following you!

Thanks again!

 

I don't know how much accounting you do but you might want to take a look into breaking down your maintenance bills into a rate-per-kilometer/mile, however you track it. One of the industry rags I ran across had a good article on using your maint-per-mile to give you an inkling on when to prepare to send your truck off to the parking lot in the sky. Basically it said if your maint. on a weekly basis is running more than $.10 (usd)/mile (and that was on the high end), you should consider sending the truck down the road. Basically it ends up that at that cost, anything you are saving in truck payments are just being sucked back up into maintenance. The cost of downtime added in and you see that the decision to buy a newer, better truck is all that much clearer.

dumping $20k into a $13k truck sounds a bit painful but it sounds like you're making it work - all the better.

 

Well it looks to me that a lot of O/O that are leased onto a company have Maintenance Accounts. Including the OP whom my question was directed to, not you. But thanks for chiming in.

 

What's the big deal about a separate account ? You either have the money or you don't....so if your maintenance account won't cover the cost of a repair you have to pull it out of somewhere....

As I stated, those 'maintenance accounts' usually refer to fleece/purchase plans and are a good way to screw the clueless lease/operator out of his hard earned money. Many times the $$$ goes in and never goes out.... when a guy cancels his lease he can't get his money back. OOIDA has won a few lawsuits dealing with companies stealing from their L/O's...

Open a savings account and call it whatever you want....

 

Talk about arguing for the sake of argument!


I have a "maintenance account" and that's just what it is...I keep not less than $20,000 in it. ( I do this thing where I consider $20,000 to be a zero balance )
If someone wants to call it a "maintenance account", So what? I was calling mine a "maintenance account" long before there were "Fleece Operators" and company held "maintenance accounts".

If you're an O/O and don't keep your business accounts seperate from your houshold accounts...You're a bad business man. (That's as nice a term as I could come up with)

 

I always keep 'em separate... I pay myself every week and the rest goes into the account.

 

if ya have 20 grand in the back account, you don't need to drive any more, get a boring job at the factory for 8 hours a days and be home every day and let your neighbors drive you crazey

 

You can pick up and deliver in the US?

I cannot pick up and deliver in Canada.