best leasing companies

If it were me I would research which companies pay percentage. That would be my first qualification. Of course we don't know what kind of trailer you want to pull.

Once you get a list of companies that pay percentage and pull the trailer type you want then call and get the facts. Pick the one that fits you best.

From what I've seen it won't be a big list when you weed out the mileage pay.

If you give us your trailer preference maybe some can offer suggestions based on their personal experience.

 

Do some research on companies you may be interested in. Send them your info, exp, type of truck, references, Any thing and everything you can think of that may get you leased on with a company you like.

Putting any thing on the internet. Is basically inviting every piece of pond scum out there to call you.

If you really want it, go find it, don't wait for it to find you!

Good luck to ya.

 

I've read others talking about getting screwed on percentage leases not knowing what the transportation contract was valued at. My question is with a percentage lease would the company be required to give you a copy of the contract that your pulling? Does the Department of Labor get involved with the trucking industry or are they largely unregulated or just regulated by different types of DOT rules?

 

If you are an owner operator who is leased to a carrier who pays percentage, then you are entitled to see a copy of the rate confirmation sheet, if asked. I don't believe a driver who is paid percentage has the same rights, but it would be good for the carrier to provide it if the driver asks. Technically, the trucking industry was deregulated quite a few years ago, but we have more regulations today than 30 years ago.

The trucking industry has been exempt from the Fair Labor Laws since about 1934, I believe. At the time the trucking and railroad industries were regulated by the Interstate Commerce Commission (ICC). The ICC mainly regulated freight rates. When the ICC was abolished, the Department of Transportation took over the regulating. When I first got my authority we had to use an ICC number on our trucks. Now we use a DOT number. The ICC number is the same thing or number as your MC or motor carrier number.

 

I believe if you operate under a percentage lease that they are required to provide the information on what the load pays if you press the issue. I’m not sure who regulates this but I have seen something posted that indicates that there are regulations covering leases. In many cases the carrier may be cutting rates to get business driving down the revenue.

I doubt this is the way to win friends and influence people. You should have a good idea what loads are paying and if you are receiving a fair amount, you shouldn't need to verify the load gross revenue.

If you choose a reputable company you shouldn't have issues. If you aren't making an amount equal to what the market is paying, move your truck to another company.

I'm not sure verifying gross would be of value since they could make the paperwork say what they want. I know I can.

IMHO, you should know your costs and have a minimum you will run for. As long as you get your rate, based on the market, I don't see where it is worth your time to try to find out what the gross is.

If you get your authority and run brokered loads it will be the same thing with a different entity taking what they can get away with. The loads will pay what they pay, if you are profitable why waste your time and energy trying to find out what the gross is.

If you are worried about what the loads pay, spend your energy to go out and get some direct customers. Until we do this we will always be at the mercy of those who will pay what the market will bear.

 

If you lesase to Landstar you can see the freight bill, conformation sheets etc. online, you can also see who is paying the freight bill.

 

I think that this is what you are talking about. I copied this from the fmcsa website. It explains what about records and who has access.

All Regulations

Part 371< 371.2371.7 >Related Links

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Subpart A - General Requirements
371.3Records to be kept by brokers.

(a) A broker shall keep a record of each transaction. For purposes of this section, brokers may keep master lists of consignors and the address and registration number of the carrier, rather than repeating this information for each transaction. The record shall show:

(1) The name and address of the consignor;

(2) The name, address, and registration number of the originating motor carrier;

(3) The bill of lading or freight bill number;(4) The amount of compensation received by the broker for the brokerage service performed and the name of the payer;

(5) A description of any non-brokerage service performed in connection with each shipment or other activity, the amount of compensation received for the service, and the name of the payer; and

(6) The amount of any freight charges collected by the broker and the date of payment to the carrier.(b) Brokers shall keep the records required by this section for a period of three years.(c) Each party to a brokered transaction has the right to review the record of the transaction required to be kept by these rules.[45 FR 68942, Oct. 17, 1980. Redesignated at 61 FR 54707, Oct. 21, 1996, as amended at 62 FR 15421, Apr. 1, 1997]

 

Thanks G/MAN. I like having the facts so I don't spew garbage. Now I have it bookmarked.

I think like you about this. It really doesn't matter what they pay if I get my rate.

 

I want to share something that I have recently come to realize, based on a couple of different threads, and do not understand. It seems that many owners choose the mileage lease that pays 1.35 - 1.45 CPM because it is a sure thing compared to a percentage lease. I thought it was because that is what most leases are and they just settled for what they were offered.

Since I challenge anyone who says they can operate a truck, in a lease operation, for less than 1.40 CPM, I don't understand taking a lease that pays less than your cost of operation and/or offers no profit. Your wages, taxes, replacement cost (if you have no payment) and return on investment are all costs of operation.

When many of these percentage leases are averaging 1.60 - 1.80 CPM per mile, why would you take a lease for a dollar or less per mile plus FSC? I have to believe that many do not have a grasp on the true cost of operation. Owners who run for cost or less will eventually find their selves broke, looking for another lease with bald tires and no fuel money to get to orientation or worse.