Prime's lease deal. The math gets done.

What "company" are you referring to? Because it isn't the one in question here. Once again, we get a percentage of the contracted linehaul, fuel surcharge and accessorials. That's not a "carriers rate."

Really? Since when?? Yes, Prime does establish and maintains a tire escrow account to help an IC absorb those costs. Maintenance costs are mainly dealt with by the drivetrain and engine warranties... all other maintenance costs are up to the operator to finance. Prime does encourage us to maintain an emergency account funded by a deduction from your settlement. It's interest bearing, and you can access the funds for any purpose with a call to payroll.

???? As ICs, we order our coming and going... subject to the availability of loads going your direction. Of course, you can always deadhead at your expense.

Since when?? It's clearly stated in our contract that ensuring maintenance is carried out is up to the IC, and we're not under any condition required to use company shops or are required to use company authorized vendors. It's up to us to choose what is fixed, how it's done and where it's done.

The someone that holds the check book and makes the decisions around my truck is moi.

That's the first thing in this post that I'll agree with. I don't have the slightest idea what "company" you've been referring to. It certainly isn't Prime.

Better than what? Urinal janitor??? You couldn't get me to go back to being a wage slave employee in any industry. Changing over to first leased, and now owner operator have been great for me.

 

Good to hear driver. Not saying Prime but have read other lease operators don't have it that good. Grass sure is green on your side of the fence.

 

I don't run for Prime but wanted to add in something. Whether its Prime, Schneider, FFE, England who ever, the leasing programs are pretty much all the same except for a few nuances. Too many people jump into a lease program without looking at it from a business stand point. They are so quick to sign on the dotted line and fail to realize that to enter the lease driver realm, your leaving the company driver realm.

The biggest enticement is the you'll make more money carrot that is dangled in front of them. What most fail to realize is that all the revenue derived off your business efforts is called To the truck. This means that all the money is generated and considered gross income, then you have to deduct all of the operating expenses of the truck, this is why it is called to the truck.

First your deducting the costs of the lease program, the truck payment, the lease fees, etc, you then have to deduct the operating expenses, you then get to pay yourself a gross wage, then you deduct payroll taxes, etc and you have your net pay, then what's left over, you get to stick away for the next weeks or the next months expenses.

In the end, your not really making any more money than a company driver. The lease program is great for the trucking company because they are not having the same costs they incur with company owned trucks. For the driver, it could be a good situation because your in control of your business and your time, time off etc but when you have a business to run and your sitting at home doing whatever, the truck is not running, yet you still have costs associated with it and all of a sudden comes the culture shock of wow, it is actually costing me money to take time off.

 

If you're with Prime and have say $20K in your escrow acct and meet a hot stripper then want $10K from your escrow will they give you a check to take her to Vegas for a weekend?

 

Some can make good points> but if yer not doing the time than ya cant really say much about it. Im just sayin that if I was to lease a truck That i would want the optiom to buy out at the end. if not why bother ? ya might make a little more money but im not gonna pay off a truck for some megga carrier ? Dont Know about Prime but it sure sounds better than stevens an the like. but then again JCT sounds much Better Than ALL.

 

So Prime moves slow and gets crappy mileage with high lease rates? WHERE DO I SIGN UP?

 

Prime isn't mileage-based. It's percentage, fuel surcharge and accessorials. Your choice to move slow or fast... fast means more of your gross makes an oil company share holder happy.

 

I think most peoples issues here with prime are your crazy fixed costs i mean 1300 a. Week before you turn the key jugs. Seams untenable and a business model pushing new drivers into such a dificult biz model is nuts..,,,,

 

It's reefer freight... not dry van. Spot market average is $1.80-ish per mile. If the revenue is there, and one can contain their costs, it works. However, I'll be the first one to tell EVERY new driver that they're a fool if they think they can make this work straight out of training.

 

Well I sure as heck hope so!