The truth about C.R. England.

My reply to those that think like this guy...

My truck and trailer are both 11 years old and are like new inside and out and have been meticulously maintained since they were new.
Including the cost of rebuilding the engine and putting in a brand new transmission when the old one wore out the maintenance costs on the truck come no where near the payment on a new one.

The truck makes the same money as a brand new one with none of the headaches associated with new trucks these days.

The truck earns WAY MORE money than the bottom feeders pay you Fleece/Operators to drag their junk around and with good business sense and a good CPA that is also a tax attorney I keep pretty much all of my net...And my net is WAY MORE than a stinkin' $1,000 or $1500 a week or some of the other "Great Money" that I see fleecers tossing around in a vain attempt to try and tell us that they're making money!

If I worked as hard as I do and all I had to show for it was $15,000 dollars from my "maintenance account" at the end of my payments...I'd be pissed!
If you don't have at least $20,000 dollars sitting in the bank that is totally seperate from all other bank accounts that you have and that you don't need to touch for ANYTHING other than major expenses on your equipment, You are doing something wrong!

If I need a new truck, I'll go out and buy one! I even considered buyind a new one this year but I reconsidered it because I decided that it would be a waste of money and I'm not in the habit of wasting money!

You want to pay $2,000 or more a month for a truck that you'll never own and have almost nothing to show for it at the end of the lease?

Knock yourself out!

But don't tell this O/O how great you're doing with your "Slave Wages" because I know what a truck can, should and does earn when it's bought right and run as a business!

If you're happy with your "Fleece Deal" Good on ya! but don't try to blow smoke up the ##### of guys that know the truth!

 

I don't like or dislike anyone on a message board, but I'll respond to some of your inflammatory remarks, because that's what I like.

The only way you could know that for sure is if you bought the truck new, and if you did, your truck payments was about as much as a lease payment. You can't get something for nothing.

How much does it earn, per mile? How much are the fuel and expenses? I've heard a lot of bragging, but no actual figures.

Our last two weeks' deposits from one of those "bottom feeders" were $7200 and $6250, out of which we had to pay about $6000 for fuel, and an additional $1300 or so has been put in our maintenance account (I haven't looked at the statements yet, just the deposits).

Assuming that all of the money put into the maintenance account will be used up for future maintenance, I would say that we have made $7500 in two weeks. Like I said, I haven't seen your figures, but I've had jobs that paid much, much worse than this.

No, if you have $20,000 sitting in a bank account, losing value as Obama prints more money, instead of invested or at least converted to gold and silver....YOU are doing something wrong.

Buy me one too!

Then share your knowledge, please. Whan can, should and does a truck do? I wanna know, because we're getting ready to pay ours off and I think we're going to keep it. According to you, all we have to do is "run it right as a business" and we'll be making enough money to thumb our noses at the lease-ops. I want in on this action, mansion in Beverly Hills and all, so fork over some of that wisdom!

 

Over the last couple of years I have answered pretty much every question that you asked here....If you want the answers, Look for'em!

Have fun!

 

I also worked for CR England for 6 months recently. I have to say that I agree completely with the above mentioned person. The things that he said were true and every bit of them except the following:

We have 4,700 trucks - we now have 6,000 trucks as CR England has recently purchased more.

There are a few things that the above driver failed to mention.
One of which is that the company makes up their own log violations. They do not consider the weather or anything else even though the law states that in certain types of weather that you can continue to drive into a safe haven. I recieved a log violation for being in construction and I could not pull over even though it was only for one minute.

Irregardless I also am very thankful to CRE for giving me a chance to drive. I loved the position and loved driving the truck.

I do not think CRE pays enough money to drivers and I feel that the compensation is less than min wage when you add up the amount of hours that you work for them in reality.

In my opinion I think that CRE has some serious problems in their training department regarding driver trainers who do not follow the rules and I believe there needs to be more regulations regarding who can and can not be a trainer.

There is a reason why CRE lets drivers go so quickly, but it is certainly not in the best interest of the party who is being trained by someone who has just been trained themselves.

Regards,
Nicole S
aka sox

 

Well, I showed you what the interest rate looks like when you buy a truck outright with a bank loan, versus what companies are charging you on the lease, but I guess that just blew right by ya.

I think you really don't have any idea how the math works on your deal, do you? All you know is that you run hard, get a lot of miles, and get some kind of paycheck now and then. Since you're not going broke, you think it's a good deal; that's all I've seen in your postings. And that's about as much analysis as a bunch of leassors are doing on their deals, which is one reason companies are able to sell them...because a bunch of people sign up without reading the contract and understanding the math.

And when you say you don't get something for nothing...you're right. Companies that take on high-risk financing for people who can't get conventional loans charge out the ### for it.

 

Why???, You obviously know it all already. If you knew Blackw900 you would know you are in wayyyyyy over your head. You treat fellow drivers like liars and then have the audacity to ask for help!

 

There would be no way i would pay a company (prime, cre to name a few) to work there. Granted some outfits (like the one i work for) will SELL you a truck. If you lease, you can almost never walk away because you will be dinged on your credit.

Yes, you have to have good credit to buy a truck, or be willing to put down some big money for a down payment. If your gonna shell out them kind of bucks for a (f)lease, just go buy a truck.

I have seen true o/o's pull in more money than a (f)lease operator. I have also heard fewer complaints when a driver buys a truck. So good luck to those who continue to be a (f)lease operator, just don't come on here and gripe when you find out you made a mistake.


To Aftershock: you are as always awsome.

 

I guess it did. Did you post a chart, or raw data? I don't recall seeing anything specific.

If it goes beyond vector calculus, probably not. That was where I left off, all that was necessary to complete a math minor and a few 300-400 electives to push a CS degree through. If the reason that you're not posting anything specific is because you think I can't handle the math, hopefully this will ease your mind a little. You can post your algorithm and data, I think, without fear of going TOO far over my head.

I posted exactly what we made the last two weeks...I get the feeling that it may have "blown by" you, so here it is in a nutshell.

\--
Assuming that all of the money put into the maintenance account will be used up for future maintenance, I would say that we have made $7500 in two weeks.
--/

If you're making more than that, I am interested in knowing what the figures are...how many miles do you go, how much per mile, how much for fuel, mtx, and what about insurance and license? (Our carrier pays ours) What I am attempting to do is extract some useful information from people who may or may not have the experience, but all I'm getting are insults and BS.

Let's see your analysis. I really do want to see what you've got.

In our case, we were not certain that we wanted to be in the trucking business, and leasing was a good way to dive in without taking the full plunge. It was, and still is, a good deal for us, but it will not be for much longer, because we are about to pay the truck off. That is why I am interested in any real, specific and useful information you may have about operating a rig that is owned free and clear. I'm really not interested in knowing that you think that lease ops are stupid, and I don't see how that is useful or informative discourse, so if all you want to do is argue, that's fine with me. I've been arguing on message boards since long before Al Gore invented the Internet, and I still enjoy doing it.

 

How am I treating fellow drivers like liars? By not agreeing with them? Bad news here...people don't always agree on things. At least I've been civil about it.

If Black w9 has anything intelligent to say, he is welcome to say it. I'm not going to go sifting through two years of his posts, as he suggested, because nothing that he has said in this thread indicates that it would be worth my time to do so.

 

Etc. etc. etc., blah blah blah. No need to repost the whole thing.

See, ya want to make it sound really complicated. Go back and look. I posted an example of Swift's LTO, with what amounts to a 21% interest rate by the time you pay $156,000 over four years for a $106,000 truck. Another member posted up an 8% figure for bank financing on a truck. Can ya do that math?

I couldn't find England's terms on their website; I expect that's because they don't really want to hold them up for scrutiny.

I'm not the only one that's posted up numbers in this thread about the real costs of LTO; and if you took the time to read other threads on this site, it's been laid out in black and white again and again.

Keep telling yourself what a good deal it's been; if it makes you feel good, I guess that's what counts.