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GunMetal345's Tanker Lease Experience

Discussion in 'Prime' started by GunMetal345, Jun 30, 2013.

Page 7 of 28
  1. Jul 12, 2013 #61
    GunMetal345

    GunMetal345 Light Load Member

    158
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    Mar 31, 2013
    0
    Okay, due to all the extra entries on my settlement I will be giving the break down when I get a normal pay period.

    This week I am $2887.94 in the red. I believe this will all be covered by the trip I turned in yesterday. These trips are all completing after the cutoff. They will get me profitable but I won't see any cash for another two weeks. I'll give the real cost break down then. Until then I'll be posting revenue and expenses as grand totals.

    Later guys!
     
    GunMetal345, Jul 12, 2013
    GunMetal345, Jul 12, 2013
    #61
    albert l, popcorn169, Jrdude5 and 2 others Thank this.
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  3. Jul 12, 2013 #62
    Wanderingaimlessly

    Wanderingaimlessly Medium Load Member

    445
    287
    Jun 18, 2013
    Los Angeles, Ca
    0
    So if you would have been able to complete the trip before the cut off it would have been about 1100 in the positive before variable deductions? Was that a tanker load you hauled to Cali? I hope they have finished the road work on I80 @ the Cali Nevada border. All the #### concrete barriers there always had me on the edge of my seat the entire way up. What did your paid mpg end up at on the settlement?
     
    Wanderingaimlessly, Jul 12, 2013
    Wanderingaimlessly, Jul 12, 2013
    #62
    Jrdude5 Thanks this.
  4. Jul 13, 2013 #63
    ironpony

    ironpony Road Train Member

    17,502
    12,015
    Sep 23, 2007
    Ask my GPS...
    0
    A general comment: IMO, one of the biggest reasons that lease ops fail in the first year (80% won't make it through the end of the lease) is they are underfunded. A couple of weeks with the majority of your income pushed off into the next settlement can deplete an operators cash in a hurry. Throw in some bad luck with a maintenance item, downtime, a motel bill... and you can get far enough into the hole that you won't get out.

    Going into a lease with little or no cash reserves is one of the ways you can fail at this in a hurry. The settlement check is cashflow into your business... it's not a paycheck on steroids. Your salary is one of your expenses.
     
    ironpony, Jul 13, 2013
    ironpony, Jul 13, 2013
    #63
    GunMetal345, DADof3 and Jrdude5 Thank this.
  5. Jul 13, 2013 #64
    Hammertyme

    Hammertyme Light Load Member

    91
    41
    Apr 23, 2013
    0
    What do u think about the start right program. I hear it pays like $140 a day to the driver as a floor with no truck payments for 3 days.
     
    Hammertyme, Jul 13, 2013
    Hammertyme, Jul 13, 2013
    #64
  7. Jul 13, 2013 #65
    ironpony

    ironpony Road Train Member

    17,502
    12,015
    Sep 23, 2007
    Ask my GPS...
    0
    They just gave a name to what they've been doing for years. Nothing new. It keeps you from going into the hole immediately. I cannot stress the necessity of having adequate cash reserves when you start.
     
    ironpony, Jul 13, 2013
    ironpony, Jul 13, 2013
    #65
    Jrdude5 Thanks this.
  8. Jul 13, 2013 #66
    Hammertyme

    Hammertyme Light Load Member

    91
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    Apr 23, 2013
    0
    Got that but GUNMETAL went into the hole during the first 3 weeks eventhough prime didn't charge 4 a truck payment
     
    Hammertyme, Jul 13, 2013
    Hammertyme, Jul 13, 2013
    #66
  9. Jul 13, 2013 #67
    GunMetal345

    GunMetal345 Light Load Member

    158
    125
    Mar 31, 2013
    0
    I knew I was going into the hole because of the first load. If you ever get a tanker load going to California that delivers on Wednesday you won't be getting revenue on Friday. After this next load I will be out of the hole earnings wise but it doesn't deliver until Friday. This coming week will also be a negative week. After that I should be back on the east coast doing two to three trips a week.

    I knew what was going to happen over the next few weeks when I found out I was headed to California. IP is blunt with it but these are all things you will know from the upgrade class and training. I'm okay. When you're in the hole and you don't know why, that's when you have a real problem.
     
    GunMetal345, Jul 13, 2013
    GunMetal345, Jul 13, 2013
    #67
    Jrdude5 Thanks this.
  10. Jul 13, 2013 #68
    GunMetal345

    GunMetal345 Light Load Member

    158
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    Mar 31, 2013
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    If I made cut off (Tuesday, 1600) I would have been up $100. I bought about $1600 on credit and my fixed cost were about $1200 with the short truck payment. So that will all be taken care of by my first trip. This next trip pays a little more but it will complete after cut off. Most of my initial capital went to tools so that I could work. About $400 worth and I still don't have everything. Just the basics. I have enough money left to last until the second week in August. I'll be in the black before that. On paper Friday and for real next Friday. Remember the warning in the first post guys.

    Yes I-80 is still being worked on. The detour was beautiful.
     
    GunMetal345, Jul 13, 2013
    GunMetal345, Jul 13, 2013
    #68
    Jrdude5 Thanks this.
  11. Jul 13, 2013 #69
    Hammertyme

    Hammertyme Light Load Member

    91
    41
    Apr 23, 2013
    0
    Glad to hear it GUNS. I forgot about the Tue cutoff and didn't know about the credit but everything adds up. Im probably going to buy the fridge unless the trk already comes with it
     
    Hammertyme, Jul 13, 2013
    Hammertyme, Jul 13, 2013
    #69
  12. Jul 13, 2013 #70
    GunMetal345

    GunMetal345 Light Load Member

    158
    125
    Mar 31, 2013
    0
    The credit is when they charge items to my truck. The fridge, my fittings, spill kit, and GPS were all charged to the truck. I'm buying things on credit from Prime. They take it out when people turn them in. Where do you think all the used fridges come from, lol.
     
    GunMetal345, Jul 13, 2013
    GunMetal345, Jul 13, 2013
    #70
    Hammertyme and silenteagle Thank this.
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