Get paid .92cpm or a percentage?

So tell me who you think the swift haters are?

 

Likely anyone who does not agree with his way of thinking that $1.15 / mile lease deal is not that good a deal.

And since I was accused of putting down SWIFT and SWIFT drivers some where in these post

SWIFT = Sure Wish I Financed Trucks

 

You know what SWIFT spelled backward means don't you...

Dick just throws out the Swift haters thing when you prove him wrong. In reality, no one on this thread is hating Swift, we just hate the L/P deal.

Besides, Swift is actually pretty smart. They are getting everyone to pay off their trucks for them. Plus they don't have to pay taxes, SS, workmans comp, or insurance. Its a win win for them! <<<Did I repeat myself? I think I did...

The problem now a days is people wanting to own a truck but don't want the responsibility of it or the possible failure that may occur. This is the easy way, so they think. I thought I read somewhere that someone who failed or bailed on their L/P that it went on their credit report? Can't remember where or who but that should be the case anyway.

There is no point in arguing this anymore. Dick seems to have it all covered.

 

I'm just curious...

Cause I know Katz is a former Swift driver who became an O/O. The differnce is though, is that Katz did it the proper way.

 

Redd, I know you're not a Swift hater. Look who you hang out with. Really, though, there is no "proper" or "improper" way of truck ownership. There is only success or failure. And I'm not speaking to your specific situation, so please don't take this like that.

I would like to know from a straight owner/operator exactly what a lessor pays that an owner making payments does not. I've been on both sides of the fence, so I already know the answer. I would like to hear it from one of you who did it on your own.

 

While I appreciate that comment, the proper (old fashioned) way would have been sucking up for another year or two as a company driver so that I didn't have to rely on credit cards to get started.

I suppose paying cash instead of financing the truck is even more proper, but I believe there's the cost of missing opportunities by waiting too long. So everyone who aspires to become an O/O has to make some compromises.

It's just that lease-purchase was too much of a compromise for me. 2 years of sacrifice at Swift built my credit back up to 720-ish and I had some cash at disposal, so I had no reason to do L/P. I also didn't want to have Qualcomm on the truck I'm making payments on, and I wanted to take 3 weeks off for my annual trip to Bonneville.

I believe there are much better/cheaper ways to become an O/O than L/P. But on the other hand, I believe L/P can be completed with good management of personal finance, hard work, and some luck. It appears Dick already got a lease truck, so I think there's no point in arguing the merit/short-comings of L/P any further in this thread.

One thing that could shift the odds of success towards Dick is for him to become a driver trainer. Swift trainer gig is pretty sweet. You get paid for every dispatch mile the truck is driven, both by the trainer and the student. Possible risk includes student tearing up the hood, transmission, etc. But if I'm not mistaken, the trainer has the right to kick the student out of his/her truck (the students also have the right to fire trainers, IIRC). Dick already has the experience that Swift requires to become a trainer, though to be honest, I think he has some maturing to do.

Again, I believe L/P isn't the most prudent financial decision you can make, but I can't say I've never made any bad decisions myself. If L/P works out for them in the end, that's all that matters. I wish him, Injun and other L/Os good luck.

This shall be the end of my participation in this thread, unless someone drags me back into it.

Best regards,
Katz the half-Swift-hating former-Swifty partial-owner operator (EDIT: Oops, I can't call myself an O/O according to Dick LOL)

P.S. If anyone is curious, I posted my revenue numbers from March and the first 3 weeks of July (page 61 & 76, respectively) in a thread titled "Mercer". FYI, Mercer foots the bill for liability/cargo insurance, take care of IFTA, and we get discounts on tires and fuel.

 

I know we're supposed to be talking about percentage pay vs. cents per mile pay, but I do have a question about 2005 and 2006 trucks specifically. First of all I see a lot of them in the truck paper as well for about the price I would love to pay. Second, do any of you know what will happen going forward with all the emissions controls? Like will pre 2007 trucks be banned on American interstates in the near future as I have heard? I would hate to plunk down $35k on a truck just to watch it parked.

I thank everyone for their answers, to my question earlier. I'm now leaning more towards the used truck scenario. As was mentioned earlier that a new engine is only $18k or so, being the biggest expense in the worst case scenario-- that truck could potentially go on to produce another million miles (and dollars) with care.

 

congratulations dick on inventing yet another acronym--partial -owner operator
or also know as poo