My numbers as an O/O leased to Crete

The current down payment is $3250 on a new truck through Crete. There is no upfront money for an escrow. It will be deducted at .05 per mile with no limit.

With that type of down payment I would seriously consider buying a new glider kit with a rebuilt non-EGR engine. A new truck through Crete is around $96k and with all the new exhaust requirments is apt to have increased maintainance cost versus a non-EGR engine. The price for such a glider kit is $108k at Fitzgerald Truck Sales in TN. This will probably be the type of truck I will buy in 1-2 yrs. as my Cummins EGR engine has some exhaust related external parts that are expensive to replace.

Also, the miles at Crete are mostly short hauls these days and my productivity is not what I would like for it to be. However, their pay per mile is still the best in the industry. You need to figure how many miles per week you need to run # $1.23 p/m (includes FSC on the sliding pay scale) to break even. Once that is done you can decide if Crete is really for you.

 

Amen. Be a sponge. There are no dumb questions, especially when you are a rookie. OTR trucking is not a job, for better or worse it becomes a lifestyle. If you can embrace it you will succeed.

 

Good! I did the same when I was a company driver. Just can not understand how the interiors of any truck that a driver spends 90% of his time in can get so nasty. That's your home for Pete-sake!

And yes, it was a generalized statement.... "The O/O truck will be in better shape 90% of the time." from previous post.

 

November 23, 2010

Re: Financial Statements – Via Web
John, following you will find your October 2010 monthly financial statement.
In looking at the October financials, you are showing a Net Profit of $67,433 for
the year-to-date period. This comes out to $0.561 cents per mile and is based
on 120,138 paid miles. You are averaging 12,014 paid miles per month this year
compared with 11,141 monthly miles you averaged last year. You were out on
the road 271 days through the end of October 2010 (89% in service) and
averaged 443 miles for each day you were out.

Your maintenance expense for the first ten months of 2010 was $10,544 or
$0.088 cpm and your tractor supplies expense was $742 or $0.006 cpm.
Together your variable tractor expenses continue to be on the high side of
expectations but reasonable.

Fuel costs averaged $0.410 cpm less fuel surcharge reimbursements of $0.272.​

This results in a net fuel cost of $0.138 which remains very good.

 

December 14, 2010

Re: Financial Statements – Via Web
John, following you will find your November 2010 monthly financial statement.
In looking at the November financials, you are showing a Net Profit of $75,014 for
the year-to-date period. This comes out to $0.567 cents per mile and is based
on 132,398 paid miles. You are averaging 12,036 paid miles per month this year
compared with 11,141 monthly miles you averaged last year. You were out on
the road 293 days through the end of November 2010 (88% in service) and
averaged 452 miles for each day you were out.

Your maintenance expense for the first eleven months of 2010 was $10,659 or
$0.081 cpm and your tractor supplies expense was $794 or $0.006 cpm.
Together your variable tractor expenses are on the high side but in line with
expectations.

Fuel costs averaged $0.414 cpm less fuel surcharge reimbursements of $0.273.​

This results in a net fuel cost of $0.141 which remains a very good net fuel cost.

It's been a much better year than last year. The only thing I'm dreading is the Tax Man. I have the money to pay the projected tax bill, but it doesn't make it any easier to do. Once the per diem, along with charitable contributions, are deducted from the Net Profit I'm projecting a $11,000 total tax bill. Most of this has already been paid through quarterly installments and includes tax liabilities for my projected December profit.

FYI, I don't mind paying taxes as long as they are managed properly. Unfortunately we all know this is not the current, or past, practice of our governments. i.e. local, county, state, and federal

 

I honestly don't know. I plan my time off around important events at home. Not all of them occur on the weekend.