Some ??'s for the L/P drivers

Well, I think Injun will probably see this thread, and be able to give you all sorts of good info on this. She's an L/P with Swift.

 

As I type there is a 780 Volvo at the Columbus Terminal waiting just for you. Dick Jones is leasing a KW 660 that was turned in by another driver, so to answer a few of your questions... Yes, Yes, Yes...

Also, Swift has "Comfort Zones" that let you dictate where you prefer to run. You might run out of your zone every now and then.

 

Yes to everything Fewe said. As o/o you can refuse a load for any reason or no reason at all. You make the decisions for your truck.

Regarding that 9cpm. Excepting July, when I had a short month and this month, I have run over it every time. October was 11,800 miles, November 12,695 and December 12,704. You are charged for the disppatched miles over 11,000. Basically, it was $150 each for Nov and Dec. When I take the option to purchase the truck, that money will be applied against the "balloon" payment, so it will be a kind of non-taxed account. Yes, it does bear interest, but I don't remember off the top of my head the rate. Since it really isn't that much, I go on ahead and run the miles. I'm curious where the dime-a-mile figure came from. My checks when that 9cpm is taken out have been more than merely acceptible.

Swift has Prostars, T2000s, some W900s, some T660s and Freightliner Columbias for lease. For a while, company drivers had an option to lease the trucks they were driving and some Volvos ended up in the lease fleet as a result. There may still be some available. There was a T660 in the Edwardsville yard last time I was there and a W900 on the lease line in Phoenix. The Colummbias are refurbished company trucks...and they did a pretty nice job on them. They are the only true l/p trucks. The others are straight lease trucks with an option to purchase at the end of the lease...as long as you can come up with the residual, commonly called the "balloon" payment. Outside financing is acceptible and some leads on who to talk to may be provided to you. But your business credit needs to be up to par. I encourage all who want to lease to separate their personal finances from business finances by getting a sole proprietorship or LLC. This gets you a Tax ID Number that does not overlap to your SSN and keeps things separate.

I've only scratched the surface, but it's easier to answer specific questions. If you have more, post them and I'll do the best I can.

 

You don't need a incorporation or llc to get a tax id number. And you will need a tax id number when & if you successfully complete the lease & buy the truck out right.

You can't file or pay your 2290 without it.

 

Security deposit...must mean performace bond. It's paid in $50 installments until paid off.

 

I happened to run into the guy who leased that T660 out of Edwardsville, in phoenix few days ago. So that one is off the market.

to the OP....i would FIRST become a company driver. Prove yourself to your DM, or if you and your DM dont click, find another DM. Your professional relationship with your DM is KEY to making it as a lease/op. If you two cant seem to go a few hours without returning phone calls, etc., then you'll never make it work leasing a truck.

i THINK you have to be a company driver for 3-6 mo before leasing a truck. but seeing how things change all the time, it could already be different.

Just remember that getting your own truck, it is a business. don't think just because you can be picky on what loads you take, dont start thinking you can take whatever time off you want. Well, you CAN, but if you think you can take every weekend off, you do no better than break-even.