Giving this a try

An example of losing money would be letting a truckin' company talk you into leasing a Big truck from them with promises of higher pay per mile.
Let's say the truckin' company pays their company drivers thirty cents per mile, and they pay their lease drivers eighty cents per mile.

On the surface that additional fifty cents per mile looks good.
Then read the fine print.

Out of that eighty cents per mile, the truckin' company deducts the lease payment, a maintenance account deduction, insurance, taxes, permits, license, and the cost of fuel.

Now, let's say your break-even point requires you to run 2,000 miles a week. Any miles beyond that is your profit.
So, let's say you run 3,000 miles a week on average, --- for a profit of, ......... are you ready? Five hundred dollars a week.
While the company driver is paid $900 for running the same miles at thirty cents per mile.

But wait!
Let's say, for whatever reason, your miles decline to fewer than 2,000 miles a week, ...... AND you have a break-down out on the road.
Ahhhh, but you have a maintenance account to pay for the repairs.
But while the Big truck sits in a repair shop waiting for parts for five days, and another day to install the parts, the wheels ain't turnin' and y'all ain't makin' any money. But the truckin' company is still deducting monies they're owed off the top. They're paid first, even if you make no profit that week.
Big truck truck drivers leased to some truckin' companies have reported receiving negative paychecks.

Amount owed by the lease/operator ---- $1,600.
Amount paid by the truckin' company --- $0.
That puts the leased/operator in the hole $1,600

Now, ..... let's say the repairs weren't done properly and the Big truck takes a dump two weeks later.
Another five day wait for parts and another day to install the parts.
But it's cold weather this time, and sleeping in the Big truck at -20 degrees outside isn't an option.
A motel cost of $50 per night for five nights is added during this repair. Plus meals at truck stop prices.
Then you receive a phone call from the truckin' company about the same time the parts arrive, informing you that your maintenance fund now has a zero balance. You can't pay to have the parts installed.
And you can't drive the Big truck to make any money either.

But the truckin' company will still demand payment, ---- even if you just walk away. They'll still hound you for what they claim you owe them.

You lose the Big truck, the job, your good credit, and even your house if you own one.

If you think I'm exaggerating --- go the the thread about bad truckin' companies.
To save time, look for comments about C.R. England.

 

That's a real good example of how to lose money but, you can even loose money as a company driver.

For the first year or so you're probably gonna be working for one of the big carriers at about 25-28 cents per mile and you'll have an older truck.

Lets say in one week you only get 1000 miles (for whatever reason - layovers, no freight, truck in the shop, slow shippers, slow unloads at the consignee, all of the above etc....) that's only $250-$280 before taxes and insurance. So you have to take an advance to pay your bills and have road money (around $125-$150 per week) for the week.

Next week you end up in the same situation and you need an advance again.... hello "negative paycheck"! Now you're working while owing the company money that you had to borrow to keep working.

So maybe it evolves into a worse case scenario where as a new driver you screw up just enough to get fired. Now they put you out of the truck (at a terminal if you're lucky) a thousand miles from home and you are responsible for your own tranportation back home - remember you haver no money because the company has taken your last check and applied it to your debt. So you have to borrow from a relative to get a bus ticket home.

So you end up with negative info on your DAC report and can't get another job driving, if you trained through the company you probably still owe the company for your training and they will expect to be paid in a lump sum or they will put it on your credit report ......

See how it works?

.............. Jim

 

Losing money.

Truck stop food. That "IS" where you will be eating. $12 cheeseburgers. $3.00 bottled waters. Not too many truckstops have reasonably priced food.

Layover, you dont get paid unless your wheels are turning. Dispatchers that let you sit for 24 hours because they dont have the brains to get you out of there.

$10 to take a shower. Of course a truckstop shower is free if you fill up, but you generally fill up about every 3 days. Keeps ya either stinky or broke, actually there are other ways around it you just gotta learn to play the shower card game. Any decent trainer will steer you correctly.

Comdata cards will kill your wallet as Jimbo describes above. Dont get advances unless you just gotta have the money.