How are O/O making a living at $1.00 a mile

I am very sorry to inform you that you are paying more than double for your truck. Break out Excel, calculate your lease payments for three years, add in the buyout at the end of the lease, including financing if you can't afford to pay cash, THEN get back to us on what a good deal you have.

 

Man you are defending this l/p program a bit much. You're settling for company driver wages Plus you have to pay more taxes being self employed. L/P's are a scam and they should be illegal

 

Lol, WOW, you assume I'm stupid and don't have a clue what truck I'm buying or how much I'm paying. I'm paying exactly the same as the truck of the same year and model and around the same mileage costs on the used truck lots. That was the first thing I did. Really? Are you that ignorant to think I wouldn't check that. Let me guess, you missed the part where I said twice now that I have successfully ran a business. Yes I know I'm not making as much after everything as some o/o would buying from a bank. Thanks to a company I worked for once (not a trucking company) screwing my credit up for me, a bank wasn't an option. I would have to use a finance company anyhow because my bank won't finance trucks any more. They've been burned once to many times.
As far as the taxes go, I paid in $800 this year from being a company driver Last year. The year before I was in this same program for six months plus 4month in the oil field and I got a refund of $200. We'll see. The buyout is 1 dollar. 2016 peterbilt 386 o/o spec'd, with thermo king evolution apu, Eaton 13 speed, Cummins isx 15 litre hd and 225'000 miles. I'm paying $123'000 out the gate. You can find personal ads a bit cheaper sometimes' but lot prices at those miles run right at the same and then you have finance charges on top of their price. Sooo, you were saying?
I defend it because when someone asks for help with these programs all they get its 10 pages of people acting like obstinent ###'s and flaming them instead of helping. I agree most of the programs out there are rip-offs, but not all. Its really a shame that boys that call themselves grown men act like this. I'm not against kindly and constructively trying to persuade them to stay away. But most of the crap is just that immature crap. Some people here have made good points to me and I payed attention to their advice. But most just repeat the same old used up phrases that make about as much sense as a rabbit attacking a rattler.

 

I appreciate your posts Braylean and your honest assessment of how things happen there. Though some other's theories about business may differ from yours, I totally understand what you're after.... The truck.
I've personally thought of doing the same thing at one time or another. But it's a lot of dedication and hard work for not a ton of money until you get that title.
It's hard now a days to have the money and the credit to start on one's own. Not all of us have the support and financial security to do what we'd like.
Just keep on trucking along and wittleing away. I think after the term you'll have your own rig in decent shape to go run how you see fit. Doesn't matter what anyone else says.

 

This thread has turned completely stupid.

 

Figures, now that I've proved not all l\p plans are crap and that I really a.m. making a living doing this... Now it's stupid. Whatever

 

You bought yourself a job. Congrats .

 

Lol, no I didn't, that makes absolutely no sense. Lol. If thou buy a truck and lease out on tho a company, you might make more than me but your basically doing the exact same thing. You either pay them to run their authority which is exactly what I do our you run your o/a in which case if thou bought the same truck you would actually be paying more per month than I am unless your getting one heck of a good price on insurance.

 

Making more is what counts, cuz you wanna work smart not hard. I had bad credit but I worked hard to get enough money for large down payment. I can go somewhere else if I don't like company I lease my truck to. You can't.

 

You didn’t prove anything. What you are doing in your fleece purchase is proving to everyone with any common sense what a rip off it really is.

You are working for company driver wages and taking all the risk of a true owner operator. If that’s not the definition of stupid I don’t know what is.

If it works for you fine. We have a lease purchase forum here for you to talk about it. Ask an O/O isn’t the place.