Prime Lease Relief

That's a floor - I don't recall anyone getting that with the exception of the last part of '08. Even then, many of the folks I know on the lease side did all right because of the spike in fuel prices (and fuel surcharge) - you just had to be running economically. You receive 72% of the linehaul, FSC and accessorials. And yeah, $1.25-ish is ballpark for operational expenses. My gross revenue from all sources last year ran at $1.73 per mile for all dispatched miles loaded and empty.

With that said, everyone's business is different. It depends on where you run, how you run - team or solo, how efficiently you run; age, model year and make of tractor - you will PAY for that KW. It's easy to see that $1.25 per mile operational cost jumping to $1.50 per mile if someone is running around with a lead foot, underinflated tires, and a crummy weight distribution on the trailer. Oh yeah, and going up on both sides of the hill, LOL! And if you think being a lease op entitles you to a week off every month, you're going to be in "the hole" a lot.

 

correct me if I am wrong but prime never had a leese purchase deal did they? Thier deal is a straight leese you never own the tractor, but you may be able to buy one at the end of the leese.

 

They do have what they call an "ACE-II" lease where you order a truck to your specifications, and its yours at the end of the contract. Weekly payments are of course, "higher." Can't really tell you about that - never investigated it myself.

All of the straight lease contracts are structured to allow you to buy-out the lease. It depends on age, mileage, etc. Or... you can turn it in.

 

I've followed your posts in some of the threads in the Prime forum; you personally seem to do quite well as a Prime L/O.

So you earned roughly $0.48 per mile last year. Does this account for what was held in maintenance and tire reserve? As a comparison, I believe Prime company drivers can earn $0.44 per mile after their first year (34cpm), running northeast regional fleet (+5cpm) in a lightweight (+5cpm). And that's before safety, fuel and miles bonus. Is this accurate?

 

Actually, more than that - 53 cpm - not including emergency fund contribution. That accounts for all costs. Haven't touched the emergency fund - nearly all repairs (and especially everything expensive) covered by warranty. Tire fund is separate, and will cover all of my costs. Your breakdown of the company pay (as far as I know) is accurate. Fortunately, I don't have to put up with company BS.

 

We need a can of Troll-Be Gone!!!!!!!!!!

No one listened to your nonsense the last time, what makes you think anyone is going to listen this time???????????
BYE!!!BYE!!!

 

Like U2 said, I completed a full 3 year lease in November. Over those 3 years my average yearly pre-tax profit was in the $75,000 range. I was a trainer, but did not train full time, usually 1 or 2 trainees a year for 3-4 months of a trainee on my truck. I did stay out for long periods of time (usually 3 months at a time), but I took a two week vacation twice a year, and was home for a couple more weekends. All in all it worked for me, and I wouldn't hesitate to sign a lease with Prime again. From what Personnel told me in November, I have 8 months from when I ended my lease to come back without having to go back thru orientation, so I have till mid-July to figure that out. Although I should know by the beginning of April if I'd come back.

 

I'm halfway through my current lease, and am doing well. In my opinion, what you have posted here is completely bogus. At this point I see no reason why I won't complete this lease with excellent financial results.