$1.50/mile - Some advice please

I've been reading many trucking company websites and at the end of the day, they're all paying pretty similar, just using different formula's to calculate the per mile rate.

I've been talking to a company that pays a flat rate of $1.50/mile - no fuel surcharge, no safety bonus, no drop/hook pay (you get the idea). Now I know that while fuel prices are under $4.25 this isn't such a bad deal and I will definitely bring the topic up when I go in to speak with them later this week should fuel prices rise above that.

They're also offering a no money down, no interest lease on a brand new International ProStar Eagle spec'd out to get over 7.0 mpg. We've not discussed what the monthly payment would be. Since it's a brand new truck (2250 miles on her), she's fully covered under the warranty (minus tires, windshield) so for 3 years or so I could certainly put away enough money to cover expenses once the warranty expires.

They'll provide base plates etc. Insurance is thru them and health insurance is thru the wife already so that's not a concern.

I plan on running about 500-600 miles/day and would be home just about every night as most runs they have are under 300 miles out.

I talked to one of their drivers already and he told me simply, "it's not the best and it's not the worst. If you're just starting out as an O/O, it's a good place to do that".

My math says that running the miles I plan to run and after paying for fuel (factored at $4.30/gal and 7.0mpg) I would gross around $9,000 month to pay truck/insurance payments.

So.... on paper it looks ok so far (if agreeable lease terms) but what I want to know from the experienced folk... what am I overlooking that would come back to bite me in the buttocks?

 

They certainly have the loads to keep me running every day. The majority of which really is just shuttling trailers to/from their drop yards in different locals - though I will discuss what happens should the workload drops or diminishes and have language in the contract that addresses those concerns.

As far as the wife "supporting the dream", that's a non-factor in the equation but should it become one, I'd just start charging her for "boy-toy" services