My first lease purchase.

If you think they was screwing you over as a company driver wait til you lease/purchase and at $.87 a mile after they take theirs you will be getting checks anywhere from $.00 to $300

 

Thats lesson #1

Now imagine those same problems with a truck that costs you $2K or $3K a month. Plus a mindless faceless corporation telling you what to do. Multiply that by another 10, and youre starting to get the idea of what lease purchases are all about.

But hey, you can always walk away from it

 

Do a search on ACT lp program seems too work for them guys.

 

There dare darn few LP's that will ever make you enough $$$ to fininsh the thing. I'd say 99% don't work. Where do you think they get all these LP trucks from? They are hand me downs from the last guy who started out with starry eyes only to have his dream goes bad after 6 months.

These carriers have dedicated legal departments that do nothing but go after their ex-Lp operators that have left owing money....

Before you sign on the dotted line ask the carrier for names and phone numbers of the guys who have successfully finished their LP and now own their own truck that's still leased on with them.

I bet you'll hear crickets....

BTW...I did do that search. Having a few newbies do rah-rah posts for their carriers doesn't impress me. Let's see what those post's look like 6 months down the road... most guys just disappear from this site after they go broke... The newest guy just had two weeks where he brought home a total of $900.00... is THAT good $$$? Even during the holidays?

 

Ok, that was your first clue, time to hang up and move on to the next fleece offer. Wait no.. ..that was your second clue. Based off your past experiences your first clue should have been you don't have a clue. Get a job with a decent company as a company driver somewhere and you will definitely make more than 90% of the o/o's out there and 100% of the fleeced operators. Learn the business on someone elses dime and do the o/o thing the right way. With cash. It won't happen overnight. Be patient. These are, your first clues...

 

I don't see the post ur talking about, but I know bigkid just put up his numbers yesterday from when he started in april, after all expenses and the home time he took came out too almost $1400 a week take home, I don't know what good money is too you guys but $1400 a week is good money too me. So my ? is where can I make more than that as a company driver?? Please let me know so I can sign up.

 

at .87 cents a mile i put my money that he sinks. now if he was a true O/O getting 2.40 a mile then i might say go for it. it's funny how they all want to jump on the lease deals. what happened to doing the company thing making sure that it's what you want to do gain your experiance if you don't have it learn the bussiness on there dime not YOURS and invest in yourself and looking into frieght brokering and become your own broker and agent if you choose to then you'll loose the middle man and you'll be making retail pay not whole sale pay known as back hauling.

 

He's averaging .59 per mile after all his company's deductions. I have to wonder if items such as truck washes, truck accessories, parking, etc are included in that figure. Not to mention, no medical, his 7.5% self employment tax, etc. So, since you asked, I don't think that is a lot of money. There are plenty of 50-60k driving jobs out there for experienced drivers with no risk and FULL benefits. While fewer, there are still a lot of 60-80k jobs out there.

What happens when 30 months in, his company folds up shop (Arrow)? What happens when they terminate him for an accident. If you want a lease purchase deal, go get a truck from an independent dealer like Lone Mountain, so if the carrier starts screwing you around, you can leave.

 

The .87cpm is you flat per-mile pay and then you add the fuel surcharge ontop of that, which is about .45cpm right now. So you will make $1.32 for each mile you drive, given the company you lease with pays FSC on ALL miles, and not just loaded. That is it, the rest is up to you. You will have to pay your truck payment, insurance, fuel, repairs all out of that $1.32. The cost of operating a truck varies between .65cpm for a used older truck to as high at $1.00 per mile for a brand new truck (given the $3,000 month payment) so basically you can expect to see .50-.55cpm as your "PAY" and then you need to subtract taxes, self-employment tax, fuel tax, 2290 ect ect..... so you will bring home about .30cpm in your pocket.

And as for a lease purchase, most companies have a large balloon payment at the end, so expect to owe another $45,000 for the truck after your lease is up. So basically if you lease a new Cascadia, expect to pay $225,000 (all payments included) for a truck that they paid $115,000 for. trust me, I've done my research.