Hello all, Ive recently finished the PSD program with Prime and now have my CDL. This evening Ill be heading out to run my 30k. Thus far, Prime seems to be an ok company. My PSD instructor was a L/O and was making decent money from what I seen although we never discussed in depth all costs.
What Id like to know from other Prime drivers is if you are company or lease and if youre making profit or lossing, by voting on the poll option.
Please feel free to comment or input. I know the topic has been covered many times over in other thread but Ive yet to see a breakdown the poll would provide me with.
Im sure some will suggest going company before jumping into lease and Ive no problem with that but please provide decent support to your suggestion. Im not looking for answers such as "Dont go lease, youre too much of a noob" etc.
Company or Lease, Profit or Loss
Discussion in 'Prime' started by torquewrench08, Jan 23, 2012.
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I am very interested in seeing the responses from any l/o from this forum whom are currently wit PRIME.
Especially ALL the related expenses due to be taken out of each settlement (before u see a dime) EACH WEEK, i.e.;
-weekly truck payment, i think the site shows it around 740$ depending on age of rig.
- is all associated INSURANCE policies for truck taken out thru prime or is it up to contractor to secure insurance thru independent company???? Either way what is the avg. weekly cost of insurance & is this taken from yer weekly settlements like the truck payment.
-BREAKDOWNS (towing) & REPAIRS, are repairs (not covered by warranty) paid out of pocket by the contractor? (duh) for example; if you get a l/o truck & it has a major breakdown (covered or NOT by warranty) right after having it assigned, Do they expect you to pay for repairs before hitting the road or will they deduct expenses thru future paychecks???? Please include any info on new tire funds or maintenance funds & amount taken each week/mile if present @ prime.
-What is & is NOT covered by warranty?
-FUEL; Please explain this for us newbies & the ones like me that have only worked for small O/Os. While i somewhat understand (i think) about the fuel surcharge that you receive as part of l/o settlement.----My question is how dose a newbie pay for fuel their first few loads? Dose prime "advance" $$ for fuel needed till the first settlement is received? Dose the newly leased truck come with a complimentary 200gallons of fuel as a way of saying thanks for leasing our truck
? Or is the new contractor expected to either have the cash up front or suck it from an "abandoned" rig lol 
-WORKERS COMP, though i would include this as insurance. Is WC provided by prime or the contractor?
- AUTHORITY (of course you would be running under primes authority), vehicle inspections, fuel permits, base plates, PRE-PASS, etc, ANYTHING I AM NOT MENTIONING for the truck to be "roadworthy" that WILL be the contractors responsibility vs. what the company pays.
-ABSOLUTELY ANY THING I DID NOT MENTION REGARDING THE TRUCK THAT WILL/COULD BE POTENTIALLY A HIDDEN EXPENSE OR AN EXPENSE DEDUCTED FROM A CONTRACTORS PAY.
-TAXES are/can taxes be deducted via prime or administrative service for a l/o? Do you pay a self employment tax a normal business as a L/O ? are you required to file once a year or quarterly(every 3 mounths)?
-l/o classes Dose prime offer any-type of "classes" for their L/O on various subject relating to operating as a profitable contractor, if so what kinds ???
- any other advantages/disadvantages that you as a l/o may know of but a newbie may not be aware of via prime website?
thx for the answers from all current company & l/o at prime
prime been n back of my head for a min now
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