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Percentage based maintenance escrow?

Discussion in 'Ask An Owner Operator' started by jellybean, Jun 2, 2012.

  1. Jun 2, 2012 #1
    jellybean

    jellybean Medium Load Member

    324
    65
    Mar 1, 2010
    Central MD
    0
    I'm getting my things in order to buy a truck and lease it on to the company I currently work for. I'll be getting paid percentage. I need some advice on how to set up my maintenance escrow we do a fair amount of short haul which makes me think a mileage based escrow wouldn't work. How do you guys that get paid percentage set up your maintenance escrow? Do you still use a mileage formula or is there a percentage formula that works? In other words what percentage of your gross would you recommend setting aside?
     
    jellybean, Jun 2, 2012
    jellybean, Jun 2, 2012
    #1
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  3. Jun 2, 2012 #2
    pop-a-top

    pop-a-top Bobtail Member

    45
    11
    Jan 15, 2012
    northeast ark
    0
    percentage or miles money is money. i figure 15 cents per mile for maintance, oil changes lights tires etc. an additional 25 cents per mile replacement costs, ie new or newer truck, engine rebuild, trans repair, rear axle etc. short miles you shoulding need these things so fast so formula should work. i trust your money is in your bank in your name, and you have the decision on what needs done and when.
     
    pop-a-top, Jun 2, 2012
    pop-a-top, Jun 2, 2012
    #2
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