My Swift Adventures as a SUCCESSFUL L/O

I guess I am not seeing some of the questions my husband has, he is really worried about what the pay is, and how does he figure how much he would send home based on what miles he ran for the week? Thank you for sending me this I am trying to sort thru all of the post and see what can help him make a decission, he just wants to make more money and I am doing my best to find out as much about leasing a truck from swift with him being on the road all the time.

 

Well, we know the per mile rate is $0.92 - $0.98 depending on length of haul. It actually goes up to $2.35 per mile on very short runs, but most of the time we are in the $0.92 - $0.94 range. The fuel surcharge follows the national fuel price average so it changes but using this week's number of $0.452 will help you get a starting point to figure what you need to drive every week/month/year.

So you take all your monthly bills back home, food and truck payment add it all together.
Divide by 4.33-- this will give you a weekly number $$.
$0.92 + $0.452 = $1.372 x miles you need to drive to pay your weekly bills. But wait, you have to pay for the fuel to make those miles. Factor about 6.5 or 7 miles per gallon to be fair. So

2500 miles times $1.372 equals $3430 dollars yay.
2500 miles divided by 7 miles per gallon times $4 dollars per gallon equals $1428

$3430 minus 1428 equals $2002 bucks for the week. But

Truck payment always comes out of your settlement first whether you drove one mile that week or three thousand. So I don't know what the payments are these day but let's say about $700 which is 'all in' including payment, insurance, qualcomm rental etc.

$2002 minus $700 equals $1302 for the week. Sounds good, but remember to hold back some for maintenance, (brand new trucks should expect 5% of income for maintenance) and hold back some for taxes.

It looks good but it can be tough to get those mile consistently all year round. Make hay when the sun shines and store it in the dry barn for when the rain comes.

I used the $700 number to illustrate the truck costs about $100 dollars a day just to park it every day all year long. That includes hometime. Though he will have the freedom to go home as often and as long as he likes, there is a fine line where the hometime to revenue ratio begins the sink the ship.

 

I'm not leaseng yet, but am getting very close. From what I can see you have your set expenses every week: lease, insurance, registration, and a few others (should know what they are up front). Then the major expense to come out next is fuel cost, varies greatly with price and mpg (keeping a high mpg is the key to making money when you are leasing). Then your husband should be setting some aside in the maintenance account. What ever is left over he would be able to send home. Hard to set an exact milage untill you know what your set expenses are and your average mpg.

 

Scottie67,

What a fantastic post, yes this quarters taxes amounts to $2500, wow, it just floors me, but its got to be paid.

I would say owning a truck isn't or doesn't center around how much you make, but how much you actually get to keep.

Sometimes its enough, and at others, not enough.

I would say, if a persons goal was only to make money, then perhaps owning a truck may not be your best option. Some actually end up losing more than they gain.

 

Thanks for the info!

 

[TABLE]
[TR]
[TD="width: 86"]Fixed Expenses Wk
[/TD]
[TD="width: 86"][/TD]
[TD="width: 86"][/TD]
[TD="width: 86"][/TD]
[TD="width: 86"][/TD]
[TD="width: 86"]Income Per Wk @ 2500 miles per wk[/TD]
[TD="width: 86"][/TD]
[TD="width: 86"][/TD]
[TD="width: 86"]2476[/TD]
[TD="width: 86"][/TD]
[TD="width: 86"]Empty Miles [/TD]
[TD="width: 86"]176[/TD]
[TD="width: 86"][/TD]
[TD="width: 86"]Fuel Cost[/TD]
[TD="width: 86"]-$4.00[/TD]
[TD="width: 86"][/TD]
[/TR]
[TR]
[TD]Truck Payment[/TD]
[TD][/TD]
[TD]-$555.00[/TD]
[TD][/TD]
[TD][/TD]
[TD]$0.920[/TD]
[TD]CPM[/TD]
[TD][/TD]
[TD]$2,277.92[/TD]
[TD][/TD]
[TD]Loaded[/TD]
[TD]2476[/TD]
[TD][/TD]
[TD]MPG[/TD]
[TD]7[/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Collision Ins.[/TD]
[TD][/TD]
[TD]-$54.88[/TD]
[TD][/TD]
[TD][/TD]
[TD]$0.46[/TD]
[TD]Fuel Rebate[/TD]
[TD][/TD]
[TD]$1,138.96[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Bobtail Ins.[/TD]
[TD][/TD]
[TD]-$5.77[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD]Total Miles[/TD]
[TD]2652[/TD]
[TD][/TD]
[TD]Cost PM[/TD]
[TD]-$0.57[/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Occupational Ins.[/TD]
[TD][/TD]
[TD]-$45.00[/TD]
[TD][/TD]
[TD][/TD]
[TD]Total Income Avg Per Wk[/TD]
[TD][/TD]
[TD][/TD]
[TD]$3,416.88[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Qualcomm[/TD]
[TD][/TD]
[TD]-$20.00[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Highway Tax[/TD]
[TD][/TD]
[TD]-$15.00[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Performance Bond[/TD]
[TD][/TD]
[TD]-$30.00[/TD]
[TD][/TD]
[TD][/TD]
[TD]Income CPM[/TD]
[TD][/TD]
[TD][/TD]
[TD]$1.29[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Accounting[/TD]
[TD][/TD]
[TD]-$16.73[/TD]
[TD][/TD]
[TD][/TD]
[TD]Total CPM Cost[/TD]
[TD][/TD]
[TD]-$0.96[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Prepass[/TD]
[TD][/TD]
[TD]-$5.00[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Glass Ins.[/TD]
[TD][/TD]
[TD]-$3.68[/TD]
[TD][/TD]
[TD][/TD]
[TD]Profit CPM[/TD]
[TD][/TD]
[TD][/TD]
[TD]$0.33[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Deductible Buy Back[/TD]
[TD][/TD]
[TD]-$10.38[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Total Fixed Expenses Wk[/TD]
[TD][/TD]
[TD]-$761.44[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Variable Expenses Wk[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Fuel CPM[/TD]
[TD]-$0.57[/TD]
[TD]-$1,515.43[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Maint. CPM[/TD]
[TD]-$0.10[/TD]
[TD]-$265.20[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Total Weekly Expenses[/TD]
[TD][/TD]
[TD]-$2,542.07[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Total weekly profit[/TD]
[TD][/TD]
[TD]$874.81[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Tax % [/TD]
[TD]-0.4[/TD]
[TD]-$349.92[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD]Net Take Home[/TD]
[TD][/TD]
[TD]$524.89[/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[TR]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[TD][/TD]
[/TR]
[/TABLE]


I copied and pasted a spread sheet I wrote using Swift numbers on a used truck. I'm sure it will be brutal, but what did I forget and how close is it?

 

All the numbers are within the range of variable ... except one. Tax is more like .04

 

I figured the tax at 40% because of having to pay self employment tax and then figured being taxed at the highest end of the tax table. I'm just trying to wrap my head around this, the tax should be 4%?

 

I figure tax at the highest to be 25%