Owner Operators: What was your net this year?

the quickest way to go broke,, add the second truck. its a killer

 

The biggest reason for ending this company lease circus is health insurance. Wages are second. If I bought health insurance for my wife and me there wouldn't be anything left to live on, let alone pay the bills. Just like a truck, as we get older the maintenance costs soar..

 

New company drivers make better than that. Hope you haven't been spinning your wheels long at that. Sounds like you have a head on your shoulder. There are programs out there that you can own the truck in the end, make better money while doing it and in the end be able to become an O/O.

Best of luck.

 

Thanks B3,
I did find the thread about the truck lease scams. Wish I had known about this forum (and the scam) before diving in. Presently looking for an eager beaver to take over my lease. Once found I plan to give a quick walk around, hand over the keys, and walk away smiling.

 

Am kind of curious about something here. I am leasing a 2010 Kenworth T660 at $602.16 a week and I get paid .98 per mile plus fuel surcharge of .42 per mile and .08 less on empty miles. I have been in this lease 10 months and have made $60,000 after expenses on 100,000 miles. Where did all the rest of the money go? You say he has a good head on his shoulders but how did the rest of the money get away from him? I just can't figure that out or come up with any logical explanation.

 

Big Kid;
I track every penny earned & spent on & for this truck. All figures are on a spreadsheet so the math is accurate. That rate per mile is based on paid miles not actual or my figuers would be even lower. I'd share my spreadsheet with you but see no value in that other than to verify my calculations. I have nothing to prove to anybody but my accountant who has verified that my figures are unfortunately correct.

Based on the info you provided I suspect we both pull for the same outfit based in Phoenix..

 

That isn't where I lease from. I am doing the lease purchase at American Central Transport in Liberty,Mo.

 

Big Kid;
Differant companies, same deal..

 

How you figure? I have made $60,000 in profit in 10 months on 100,000 miles in my deal and I own my truck at the end.

 

Ok, how many odometer miles did you roll? What is your break down on cost per mile? That would include a wage to yourself, cell phone bills, food, taxes - everything, no cutting corners here. You plan on lease purchasing the rest of your life (indentured servitude) or owning one outright at some point? Better include that in your cost per mile as well. There are many threads around here that will give you a good idea of the the real costs associated with rolling down the highway. A $600+ weekly truck payment? A $1.25 a mile actual miles, if you're lucky? Sorry I'm just not buying it. Your 8mpg wonder truck and the "big" fuel discounts you're getting just aren't plugging all the big holes in your best guess on profit here.