Good Night From II

Ok, wow, I'll tell you this. A lease from anyone is not a ticket to free money. Even the airlines pay several percentage points more for an airplane than they would by simply buying it outright. There are too many benefits to leasing in the way of a business partnership and business stability to get into specifics here. Suffice to say that the added freedom is paramount and the little things like parts discounts, fuel surcharge and access to the national tire account are all part of the decision.

I need to to be clear about something, I am a data hound. I look at every decision from just about every angle I can think of before pulling the trigger and going for it. Believe me, I have heard it all at this point. A lease is a business decision and a truck is a tool and nothing more. Once it becomes more than that you're throwing good money after bad.

There are some that say a lease is a "fleece" and that you're buying the truck for the company. This is utter BS, in reality that company truck you're sitting in is leased and that's the one you're buying for the company and they love u for it. At the end of my lease I'll have the opportunity to either buy the truck or get a new truck. In my case I intend to own the truck. I have an arrangement with a long time friend in Colorado when all is said and done but it requires that I own a truck. After the last fifteen years and the financial pounding I took being in aviation, this is the best solution for me. And that's really all it is ... a solution to a life problem.

So to answer your question: Because it's the best situation for me from a business, financial, and ultimately personal stand point. The others are right, it has everything to do with my personal and business situations and this really isn't the place to air my dirty laundry. That's about the best u can expect from this old man at three in the morning I'm afraid.

 

Laredo waiting to get inspected at 0600 then grab a nice one to Augusta, GA

 

Walmart Bedford, OH


I know I've been off grid to a while, but I have been busy. Last month I left the target account I was driving for and switched to Northeast regional. I have been enjoying the account so far. Percentage pay is nice, I make more and drive fewer miles. They stack me with loads several days in advance so most weeks I know what I am doing for the entire week. My DL always has me stacked through the weekend so I almost never have to call ECT. Home every weekend except this weekend.


This is weekend I decided to stay out so my student could finish up his hours and be in Columbus (his home terminal) to test out by Monday. I may be done training for a while. As much as I enjoy teaching this account really doesn't offer much in the way of team miles and I might as well drive solo without the added stress. And it would be nice to consistently sleep through the night without having to wake up to answer questions. I still keep a night schedule cycle just in case I have to run through the night but most nights I've been just driving a few hours and waiting til morning to unload.


On top of all the aforementioned reasons I am planning on coming off the road soon at least for the next few months. With the upcoming addition of a third truck this summer and a remodeling company as well as a tech support company starting up there are many things bidding for my attention that would require me to devote more time to them. I will be hiring one of my past students to drive this truck while I handle the growing list of responsibilities in my corporation. My wife is also due to bring our third child into the world in August so my summer is looking pretty darn busy.


Hopefully as I spend more time doing office work in the next month or so and being off the road, I should be able to hop on the forum more often and keep up with you fellas more regularly.


Oh A21CAV, just to play devil's advocate: since moving to Northeast regional there have been several times that I have broken even with less than 1100 miles. Just a week or two ago I hauled a load to NY 180 miles that payed $1200 to my truck. So it can be done just not on mileage pay. So there migh be one exception to that rule. I know you meant under normal circumstances (mileage pay) and I can show you on paper if you would like, I just have no idea how to upload images to the forum from my phone.

BTW rattlebunny, I am sure you have what it takes you just have to keep the understanding that it is a business and you are no longer just a driver. Being able to track and understand data is a huge plus that you have going for you. I have been very happy with my decision and two trucks later (third to be added soon) I have not regretted it a single day. If you want you can dig up my old thread http://www.thetruckersreport.com/truckingindustryforum/swift/245252-input-swift-l-o.html

it has some useful info there and it would be an appropriate place to post more questions if you have them.

 

Broccelli , yes , I was referring to mileage pay . You have a good idea about restarting your older thread . It would certainly reduce the trolls jumping in .
Frank

 

Interesting. Another driver I know very well (company driver) got his hands on a 2011 T680 from a family member who was retiring from trucking. When he went to sign with Swift as an O/O, he was told in no uncertain terms (by Swift) that he could not run "outside trucks" under Swift's authority.

I was told a similar thing by a friend who was looking to do a lease purchase through (I believe) Penske, with weekly payments significantly lower than IEL's straight lease. Swift wouldn't sign him if he brought in a (brand new) truck from outside.

I don't know what Swift's official policy is regarding this. It is very possible that there are a few people in the IC (Independent Contractor) division that are spreading the wrong information. I wouldn't be surprised to find that these people get a bigger bonu$ for bringing in people under IEL lease.

True; it's no *concern* of mine. It makes no difference to me at all if he makes a million dollars this year, or goes bankrupt. I was simply curious as to *why* he wanted to lease.

FYI, I've owned my own business since 1992. Right now, my business is little more than a paper LLC because of the market conditions. Driving a truck has always been on my "bucket list", and conditions were right for me to make the switch.

I have researched leasing through IEL, as well as Swift's IC agreement. The current combination is not right *for me*. The risk/reward ratio is too high *for me*. I have certain financial obligations I must meet without fail. Losing a month's income because of my truck being in the shop would be a major problem. Therefore, I remain a company driver. I like what I do, I can pay my bills without worry, and 62 MPH doesn't bother me.

I'm glad you understand that. Far too many people sign, thinking that it is. The signs posted in the terminals really don't help. *Most* people who sign a lease would actually make more money remaining a company driver. These are the drivers I see "blowing my doors off" running 68 MPH.

Conversely, I do give a figurative tip of my virtual hat to those ICs that are comfortably rolling along at 55-60, usually right behind the Prime trucks. They understand that fuel is their biggest expense, and the one they can influence directly. To them, it's not worth spending an extra $50 to get to the truck stop an hour earlier.

I do wish you well. You appear to be going into this with both eyes open, and not blinded by all those dollar signs that the recruiters keep throwing at you.

FWIW, my post was also written at 3 AM...

 

Wait... You've never been a owner op? And you decided to inform us all with your knowledge that you received via he said/she said?

Complete with nicknames for IEL, and an overall condescending tone?

Awesome.

 

I'm sure this is not your only reason for constantly bashing on leasing, but there should be no reason that you lose a months income because of a truck in the shop. Swift will rent you a truck (they try to make it similar year, make, and model) for $0.10/mile so you can keep earning revenue. And when you analyze it you really aren't losing money on the rental because you have no maintenance responsibility for that truck and your truck isn't moving so you don't need to put away maintenance money while you are running the rental. And if you put away less than $0.10/ mile for maintenance and you count the rental cost as a loss then you should reevaluate how much you should be saving for maintenance.

so in short it is a lot like swift is renting the loaner to you for free ( or saving you money for those of us who like to be overly prepared with our maintenance savings).

 

I have known some drivers who got trucks outside Swift and brought them in, we have one op on our fleet who leased first and saved money for a couple years then went out and got a truck at a dealer.
Leasing might not be about the money as much as freedom for some but if you drive and play it smart you still can make a decent chunk of money more than being a company driver.

 

Getting a B-service in Troutdale after making my delivery this morning in Tigard. Live unload turned into a drop and hook, but after waiting over an hour for an open dock. I always have had good service in Troutdale. The attitude of the shop and the support staff are great.

 

Bolingbrook, IL, everyone knows where.

I was shut down all night last night after the TA mechanic properly cleaned the battery terminals and strips.
Everything was still powered this morning and I thought the problem was finally fixed.
I drove all day then came here, started dinner and turned on the computer. Then I once again got the flashing red light that warns of impending power shut off.
Oh, well. Sigh
Something is not right, but both TA and the Salt Lake shop said the batteries are good.
Anyone have any ideas?