rip-off john christner

Oh and the fixed payment would be $480 for the month. It's $120/week

 

Yeah, I wasn't sure about the reefer fuel. Regarding a rental truck, having worked inside of a trucking company and arranging rentals from time to time, they're not cheap.

What is that $120 per month fixed amount for?

As I see it the truck payments at $2,760.00 a month for 5 years total $165,600 plus $120 fixed charge for 5 years is $7,200. That is $172,800 total costs for the truck?

 

Oh, okay. I thought it was $600 plus a week.

 

So what they're doing is subsidizing your monthly truck by over $2,000 a month by paying a lower mileage rate. I get it.

It seems then based on the numbers, one could add back another .19 cpm per mile to my original figure of .43 cpm and conclude what's left over is .62 cpm.

That's pretty much commensurate with what most lease op programs offer in the end. It's just how the numbers are presented.

 

@Scooter Jones, The $120/week is the interest.

The price of my truck, 2015 Cascadia Evo ten speed with apu is $150505. With a 10% APR that comes to $165,555.

 

Got it...

Thanks for clarifying that. Sometimes when these numbers are thrown out it's hard to decipher what is what. Having participated in a true walk away lease program myself a couple of years back, I can only say that most of these leasing companies use a lot of smoke and mirrors when they structure their programs.

It's really difficult for the novice who is being heavily influenced, in many cases, by a smooth talking recruiter to be able to know and understand what he/she is getting into. Only a very small % of folks succeed at lease op or even running with their own authority for that matter.

The key to any marginal "success" in this business as a one man operation, is to live below your means, pay your taxes on time, every time, and save every nickel you can for a rainy day, you will need it!

In reality, the margins are just too controlled and tight in our industry to make any kind of significant money as an independent. I know there a few exceptions, but they are few.

When guys who are interested in becoming owner ops ask me how much money I make since I became an independent owner operator with my own authority, I just smile and say, "if you think it's solely about big money, you don't understand the what or why, you're better off remaining a company employee."

Thanks for you interaction, MachoCyclone.

 

As Macho noted, your bottom number is in line. For the rental, it's a currently unused truck. The rate is your current lease rate; in my case it was $0.18 a mile.

TA

 

I can tell you from experience that it is pretty much hand to mouth until you get to 5 trucks, but that is a whole other subject and headache.

 

Yeah, I hear ya. I do as well I want to. With my own authority I run the same lane, out 4 nights and home 3 nights. I'm more into utilizing & leveraging the benefits and write offs being a company owner filing as an S corp and keeping my taxable income as realistically low as I can.

There's a line in our current tax code which is punitive in nature and it just doesn't pay (for me) in the long run to go above it as a 1 man dog & pony show.

I'm going on 60 and lack the desire or will to add more trucks to my fleet. I worked inside and know just how hard it is to attract & retain good drivers and even then, most of them are difficult to deal with most of the time

 

I'm going on 36 but don't have any plans to ever have more than one truck. I'm perfectly happy with just me and the truck.

I used to be a Store Manager for Movie Galley (back when there video rental stores) and hated the hiring and firing of employees along with all the ######## they come with. And seeing some these drivers out here makes me not want to deal with them even on a driver to driver basis.