Questions for Stevens drivers!

I'm not sure why you would want the headaches of it when you pretty much are paying for their trucks and maintaining it and the insurance an all that with no garranty of making any more money then a co. driver. As a lease you also have the pressure of getting the miles to make the payments and if something goes wrong ( people get sick and stuff just happens) with the load aren't you also responsible for the cargo like spoiled produce do to some delay? And at the end of 2 years you don't even have any equity built up in the truck because you don't own it. And you can't go and drive for some other company either where you might be able to make more money. So you probaby have less freedom then a company driver. You're the same as a company driver with all the added headaches. It's like renting a house. You make the payments to pay off someones mortgage but only worse as a renter you don't have to up keep the house and pay to have things fixed. You would be better off working a year or two and getting your credit built up and buy a truck of your choice and be an owner opperator. Just my take on leasing anything. I just want to drive and make the miles for the money and not have the stress of all the other BS with it. Why do you think they want you to lease in the first place? So you have all the headaches of that stuff and the worry of making the payments. Believe you me if it wasn't in their best interest and they weren't making money from it without the headaches it wouldn't be stressed as much as these companys do. Don't lease a truck, buy a truck if you want the headaches and risk. If you can't afford it then wait and save up until you can. Just my opinion again.

 

You're showing your lack of business knowledge and understanding of how things work.
First of all, leasing simply means you are paying for the depreciation and cost of money only. No you do not build equity because you are preserving capital by not placing money in abeyance for somethingyou can't use (equity).
No...you are not paying for the company's truck. You are paying the depreciation and money cost (interest) only. Any equity payments are made by the company on their own behalf.
Business 101.
Secondly, yes you are responible for the load. that is why you have insurance.
Yes there are more responsibilities as a lease driver...the same as an O/O. However, you are sharing the risk with the trucking company, so you have the opportunity to make more money.
I average nearly 50% more income, when all else is done, than I would as a company driver doing the exact same job.
Its your choice. If you want to just get up and drive and not be liable for things, yes you can be a company driver and do just that.
If you want to make more money, then you have to share the risk and take some initiative. For that, you make more money.
So what are you willing to risk? Drive for say..0.30 per mile or drive for 0.45 per mile (after all expenses are paid) for the same loads?

 

Another lease basher, that does not understand the value of money. Yes I take more risk as a lease operator than a company driver, but I am also rewarded for it with more money in my pocket, and more freedom than the company drivers at stevens.

Some people hate leases, and that is their opinion, and expect every one else to agree with them. They have bought into the belief that equity is the route to freedom. sorry CASH is freedom.

There is nothing wrong with Stevens making a profit from my work...if they did not make a profit, I would not be employed.

 

I'm not bashing as I did state that it was my opinion. I didn't say you had to agree with me just as I don't have to agree with you my friend.
So the answer is you can make .15 a mile more if you do it right and if they give you the miles for the extra stress and headaches. That's cool if you like the extra stress.
But it kind of makes an arguement that drivers should be making .040-.045 per mile then if everyone else does their jobs too and they keep you moving and get you the miles doesn't it?

 

my comments are in BOLD - sorry, I wanted to respond to sections and I guess I didn't do it the best way

I respect your opinion and enjoyed reading your comments along with all the other postings and responses, I read everything and always listen to both sides - I believe you can learn something from anyone as long as you keep an open mind.

Again I am not saying you are wrong at all. At the end of the day it is the responsibility of each of us to evaluate, compare, collect, and analyze BEFORE we decide (in this case sign a lease paper) what suits our needs, family and interests best - and having a forum such as this to read opinions from all sides make my decisions easier having MORE facts and information.

And for that - I THANK ALL OF YOU

 

Hey, I'm open minded to discussions too. Like you said it's good to get different views and some food for thought. I can honestly say that I have learned some things from this discussion.
A fellow had an interesting question about what would Stevens sale a truck to him for after the lease was up so he could be an O/O? I guess you would have to weigh out how much money you could make if you ran the truck for a year or two with no payments. And how many miles do those trucks usually get?
But in the end it is whatever fits you best, no doubt about it.

 

What extra stress and headaches are you talking about. I do the same job as a company driver, and get paid more for it. They have to do the scheduled maintenance, just as I do. We both can break down, and since almost everything is covered under warranty, I have very little out of pocket expense. I don't have to fuel at the locations that Company drivers do. I don't have to follow company routing....

It is a case that you don't really understand how a smart person can benefit from the lease option, and make a nice living at it. Others have and will fail miserably at it.

I agreed to work for the wages I am paid. That is all I expect from any company. If someone else makes more, so be it, if someone else makes less so be it... If I don't like the pay, I have options, quit and go somewhere else, or negotiate a better rate. What the next driver makes is of no concern to me.

In this way I am old school, personal responsibility and all. No collective bargaining, no welfare, no government bail outs....You work for the wages offered and accepted or you starve.

 

Johnny,
I come at this from a different vantage than most drivers. I have been an O/O...for 18 years. Now I'm a L/O by choice.
TLea is right when he says cash is king.
There are a lot of people out there that own homes where the equity disappeared. Same with trucks. As an example, if you haul freight out of the ports in CA now, your truck must meet CARB requirements. Virtually every O/O has been give the boot there because their trucks are too old. They have equity, but can't haul anything with them.
Go look at the prices of 'older' conventional tractors on the lots now. They've fallen like a brick. Think of all those O/Os out there who's equity fell with it.
Think about it...two drivers decide to get a truck the same time. the first buys a 2006 in 2008. The second leases a 2008 in 2008. Both have about the same payment. Now, two years later, the equity trucker has a vehicle that isn't paid for, won't meet CARB requirements and when he wants to trade it in finds he has little if any equity. (Actually, if he's only paid 2 years on a 5 year note, he's probably upside down). The lease driver simply turns his truck in, gets a new one and keeps on going.
What it really comes down to is who has the most cash in their pocket at the end of the month. In today's environment, it's usually the lease operator.

 

TLea, I hope you aren't upset or offended. The stress and headaches I'm talking about are those that come with any business. Paying all the bills and doing the book keeping and taxes etc.
Emulsified, I appreciate you sharing your point of view from a different vantage point. Having been an O/O and 22 years of experiance in the industry does carry some weight to what you say. You have a good, clear and calm way of articulating your view point also. And not to change the subject but do you do any training for Stevens?

 

Johnny 99,

Not upset or offended...just get tired of the people who bash leases. Glad you are learning and willing to learn.

Bookkeeping and bill paying are not added stress or headaches for me, just part of being a business owner. Takes an additional 5 minutes per day, and 15 minutes per week to accomplish. My taxes take as long as my personal taxes did before I started trucking, maybe 2 hours at the accountants office. Yes I am organized. Stevens takes care of all the Taxes on the truck.

The question about buying the truck at the end of the lease, about $40,000 cash, or about $450 per week for 2 years. So at the end of the 2 years of payments, I would have a truck with 500,000+ miles, that is 4 to 5 years old. Fine if I stay with Stevens. If I wanted to go else where, my truck is too old to lease on with many companies.

Now my point of view comes from 20 years as a fast food manager. long hours and a paycheck, while doing most of the work for the owners who reaped the benefits. I learned from the smart owners that leasing equipment was a smart and profitable decision. A truck is a piece of business equipment. Now I reap the benefits of my long hours.