FCC--Fremont Contract Carriers

I started the lease about two months ago. I ran my company truck for 3 months as if I was doing the lease. I saw that I could make decent money. I got pre approved for a 70K loan to go out and buy my own used truck and lease it back on to FCC. After running all the numbers and weighing the pros and cons I went with the lease. If you don't have at least a 10K reserve when buying a used truck you are rolling the dice.
On the lease trucks you have 3 years left on the manufactures warranty and they add an additional 2 year extended warranty into the payment. They work on your lease truck at both shops, if you bring your own truck to FCC they will not work on your truck. My truck was down for a week, they gave me a loaner truck so o could continue to generate revenue.

My fixed costs on the lease are $715 a week. This includes lease payment, bobtail insurance, cargo insurance, physical damage insurance, Qualcomm rental, pre pass transponder rental, dental/vision, occupational insurance, and life insurance. You are required .10 a mile to go into a maintenance account, I put .12 a mile away into my maintenance account. I have netted between $1900 and $975 on my settlements. I would say my average on a normal week is $1400. I take an additional 20% from my net and put away for my quarterly taxes.

I tried to keep the lease on the DL, because I didn't want all of the LP haters to throw there .02 in. I did my research and felt comfortable making the move. This is NOT a walk away lease, so run the numbers before you decide to take the plunge.

 

Delivered my load, picked up my preloaded trailer going to SD. Friday after getting empty I'm picking up a preloaded trailer going to Albuquerque for a drop Sunday.

Just got a message today that they will be installing OUTWARD facing cameras in the trucks in the future. Doesn't bother me, I already run my own dash cam.

 

The message that was sent out today under the media manager section on the Qualcomm today said company and leased trucks will have cameras installed. My dash cam paid for it self about two weeks after installing it. They are a great insurance policy.

 

Agreed, they will only be outward facing. I would say within the next 3 years most insurance companies will require fleets to have outward facing cameras

 

Headed to Albuquerque, its due to drop Sunday morning, but I will drop tomorrow afternoon, go 8 miles down the road and pick up a preloaded trailer coming back to Nebraska for a drop anytime Monday.