Owner Operators: What was your net this year?

Wow you got me there. I rounded $59994 to $60000 and rounded 100,022 miles to 100,000 miles. I always get a kick out of the people on this site who critique people who put there numbers out there but provide no numbers of their own.

And furthermore my truck is a 2010 so I can actually quote where you yourself said 7 cents a mile is plenty for maintenance on that new of a truck. My maintenance account has about $5,000 in it and I have a little over $20,000 in the bank so I think I can handle a tow bill and a hotel. As much as you guys like to cling to your claims that all lease purchases are so bad I seem to be doing pretty well at it. My settlement this week was $2277 on a little over 2500 miles. I must be doing something right.

 

I need to switch to BK2's carrier. I'm getting screwed!

 

:smt038............. My settlement from Dec.15 thru the 31st was $7850.00 on about 3500 miles total (loaded and empty). I'll stick with my formula better, Thank you........

 

Not fair, you are comparing flats to vans. But the main point is that "settlement" amounts do not equal "net income before taxes". We have significant wear and tear that we need to account for today that may not be spent for years.

I have a driver that has his 20k set aside for his rebuild and is still accounting for replacement and repairs in what it costs him to operate.

Anyone in the $1/M range is a super star. This guy has been doing an LP for 10-months and tells us he is at $.80/mile.

 

Ok I see your point there about planning repairs but the only problem with that is you don't know ahead of time what is going to break. There is no way to know that so if doing that you will never know what your profit margin is. I feel that with the warranty until 600,000 miles to cover anything major .07 per mile is enough to put back into my maintenance account. By the way I find out my settlement numbers on Wednesday and this weeks is $2681 on 2510 miles but you won't believe it anyways. Like I said before I will show you my numbers if you don't believe them.

 

So you get .98 per mile plus .42 cpm fsc... that's $1.40 per mile... but your settlement is well over $1.00 per mile? It only costs you about .30 cpm for fuel, maintenance, etc.?

8 mpg on every load? That must be some super sipper ya got there... does it get 8 mpg on 80K gross loads or just sailboat fuel?

I've been at this 40 years my friend... something ain't quite right with your numbers.

 

.98 +fsc is the regular base pay. You can make more. This week I am making $1.80 loaded and $1.72 empty including fuel surcharge. My overall average fuel mileage for 3rd quarter was 8.33 mpg and 4th quarter was 7.95 mpg. I have had a few times where I got over 10 Mpg between fill ups.

 

I see your post in the CR England thread where you said you were a successful lease purchase operator there. Now I completely understand why you don't believe my numbers. The reason is that you are comparing them to the numbers from there. I think the program at ACT is much better. I don't have to train and can run half the miles they do and make the same if not more money.

 

No, it has to do with simple math. Based on what you posted you are saying your CPM is $.80. That may be what you see based on settlements but future repairs need to be accounted for. Plus, companies that do these deals could careless about the truck running 1,000,000 miles. And they know that most people leasing take their lead on what service needs to take place. You will see guys doing 25-30K service intervals and never take samples to see if that interval works. Guys will never change diff/trans fluid. Truck gets lubed when PM is done. On and On. IF you followed what most O/O's do you could never maintain your truck on $.07/mile.

As far as comparing deals on the other thread. CRE has a pretty good lease deal that will allow you to purchase at the end. I would never do one of these because of what was stated above. But they have similar revenue per mile as ACT with a lower fixed and cover more maintenance items.

Regarding training - that was based on the dedicated, team gig he was talking about. While I trained for a time, it is not something I did long-term.

 

Lower fixed cost? That variable mileage payment wipes out any lower fixed cost. My fixed cost is $732.01 a week with no mileage charge. It is the same whether I run 1 mile or 4000 miles. Plus I get 2 free weeks every year where I have no truck payment and my payment includes an APu.