Prime lease ripoff

Even better, it's a week with no truck payment. Now that's just gotta suck!

 

oh snap, wait till the 3rd week he is really not gonna be happy

 

why would any one want to make the truck payment as well as all maintinace costs for a company is beyond me.
Especally a truck thats governed at 59 miles an hour . Ya i drive a peterbuilt, but it only goes 59 mph and blocks. Yup really something to be happy with.
Not

 

I've talked to several Prime drivers both current and ex-drivers. It seems to me the common thread of why they get into trouble is that they do not have a firm grasp of the fact that it is a business and they have to watch every dollar. The drivers treat it like they are still driving a company truck. More training might make a difference.

 

i make my lease purchase work but wasn't the best move i ever made and there are concessions to be made that most are not willing to do
sadly many lp ops shouldnt even be drivers and then it is the companies fault they failed

 

Pretty much. One driver that came to a company I drove for a couple of years ago was an ex-Prime driver. He talked Prime down every chance he got. The usual "they suck", "total rip-off" etc. This guy would take 6 or 7 hours to do a 100 mile load. Stop in the middle of a load for a couple of hours to go shopping at Wal Mart and so on. He never got the connection.

 

Then you need to stay away from a lease agreement at all costs! A lease agreement (with or without purchase option) is a business opportunity. You either approach it as a small business (with associated costs and revenue,) or plan on failing. Leasing assets to operate a business is a common model in the world today. For example... ever hear of that outfit named "United Airlines?" Do you think they own even one of those jets? They're all leased. That lease payment is written off as a cost of doing business - along with the associated costs of operating a truck - plates, permits, insurance, etc.

Maintenance at Prime is mostly done under the manufacturer's warranty - for example, I had a turbo replaced at a total cost of $130 to me. I was only charged for shop consumables. Most of my expenses are for consumables - tires, windshield wipers, PMs. Necessary and ordinary business costs. All tax deductible. And then there's the big one... my salary. You have to pay yourself. One of the huge mistakes most people make is mistaking your settlement check for a paycheck. It's not. The settlement check is cash flow into your business, and one of your costs is your pay. Just like any business.

In order to make one of these deals work, you have to be "inside the numbers." In otherwords, you need to keep your own books, and generate your own business reports to see where you money is going, what's left over, where you can improve. Now whether it's a good deal or a bad deal is up to you to determine. You need to do the due diligence in order to see if the anticipated revenue stream is real and enough to support your costs, and provide for a profit. You also need to READ the friggin' contract before you sign it.

Our trucks are governed at 65 mph.

 

So how is your salary?

 

Nice! Best part of the week is when I pay myself!!

 

You clear a grand a week?