New to being a Owner Operator

I'm leased on to a carrier and run a sleeper. Its probably alot more truck than I need for what I do but I'll tell you its nice to have when you get stuck out somewhere and want to lay down.

 

Indiana is middle of the pack on insurance. This chart is old data (2016), so the actual values have certainly gone up. The thing to look at is high versus low, to get an idea of how home state affects premium.

To clarify, the full service Penske rental, I mentioned was $2600 a month, not per week.

Being fair, the discount on the rate is 12% from the settlements you posted. That's bare minimum (in my opinion), so the overhead is being shifted to inflated costs on everything else. I'm not necessarily saying that's a bad thing. But you do need to know what the actuals are, or at least ballpark, so you can back those out and know what amount they are -actually- taking. These carrier leases can be a real shell game and hard to keep up with. At the end of the day, they have to cover their overhead and profit. That usually puts the real percentage somewhere in the 30% range, from what I've seen. Maybe some of the blue star and other lease operators with larger, more established carriers can improve what I'm saying from their experience. I've never leased on, nor have offered a lease as a carrier.

Don't take this as me bashing a lease. Far from it. At the end of the day what matters is how much profit you put in your pocket. Many ways to do that. We might question some things, but it's up to you to measure that against your contract and figure out if it's actually a problem or not.

 

I wouldn't walk away.

I would run out of there screaming like a child who's just been touched inappropriately.

$20 a week for Verizon Roadside assistance? Are they high? Verizon doesn't do roadside assistance for semi trucks. On top of that, $1200 a week for the lease. And then 350 for cargo insurance is absolutely stupid. Just go work for Schneider until you could save up a down payment.

 

It says they will do. And already inflated spare tire swap. So if you carry a casing, it doesn't matter. They won't change it. I

 

Interesting. I also had not heard of this. I'm on VZW but have resisted the company account because what we already have is less expensive.

At that price, I'm guessing it's just a directory/referral service. There's no way they'd cover any of the cost for service at that rate, although they may have a rate card for common stuff. To compare, you can usually count on around $300 just to get a truck to come out to you, before any work gets done. Normally some minimum like 2 hrs, then hourly rate plus miles from the time they leave the shop until they return.

The link you give takes you to a questionnaire that sets up a sales call to find out more. I'm not in the mood, so just exited the page. I've done ok with Google, and the free directories nttb and truckdown.

 

It makes me feel bad to pay for the half coverage for $10,400. How many years have you been insured?

 

My guy you are just getting burned at every angle. I just become owner op, today is end of my 4th week, and I average 3k to 3500 a week after their maintenance escrow and a personal one I am building because my carrier caps at 2500 and I want at least 10k sitting for emergencies. The insurance they charge me is like 158 a week. My trailer is a rental from them, it's a flat 5% off the gross, no per mile. My truck payment is about 500 a week. Maybe consider just getting a truck loan and ditching them, they look and sound kinda shady honestly. I have a buddy I went to cdl school 2 years ago with he just started a lease deal he pays like 600 a week for the truck I think. Feel free to message me if you wanna know more about who I lease to or something