mercer transportation

That high of a payment scares the crap out of me.

 

Yeah, but I have virtually no maintenance costs, other than the routine costs of tires, oil changes, etc. It doesn't scare me so much, but my fixed costs here are about $100/week less than they were at my last place, the fuel is cheaper, and on average I have been making twice the money for half the work. Like I said, I have no complaints when I can make those payments and still $2k take home is my worst week in 3 months, I am still trying to figure out how people can't survive here. I think you really really really have to try to not be successful.

 

Dont forget about TAXES!! a lot of people dont add that into the cost so ur taking home 2k yes but put some aside for those taxes.

 

You are still putting money away for maint right?

 

I guess that can get people if they blow the money, but I pay myself less than half of what I take home, the rest stays in my business account to cover all other expenses including taxes.

 

What you say is true, Razor. At my last company, there were drivers that came up to my truck asking me if I was making money. You see, somehow if I were a failing L/O somehow it made them feel better. They would sit around not making money while I ran my buttocks off. I was making money off the truck and they couldn't figure it out. People read that all leases are bad and that you will fail. Some cases the company knows that you can't make enough revenue by low miles or low rates-both are going to fail you.
I run two businesses out of my truck. I trade stock options. So, if I can't run the truck, then I have other money I can generate. First week I was at my last company (while waiting on a decent paying load) I took $660 and turned it into $2200 in four days. The next week I made another $1700 off that same money. And still these drivers would ask me if I was making money.
There is a certain amount of miles/revenue that is going to be your breakeven. Most lease companies out there limit you on purpose-even though they tell you that they don't. The other part is money management. Prepare and save while good money comes in so that you can weather a slowdown. You seem to have your head on right, Razor.
I will be coming to Mercer, waiting on trailer and orientation. My personal bills are very low. So, I suppose this is sort of an introduction, also.

 

It would scare me too except I've had higher payments with less revenue and managed OK. I think it would be easy to do now. But not having payments is so nice. Altho looking at it I put as much away for repairs and Improvements on my truck now as I did for payments so it all washes out.

 

Welcome @Temptinfates

 

What do yall put away? i put 15% but thinking of uping it to 20% lol

 

I don't do a percentage, I just cut myself a flat salary regardless of how much or if I work, but if I had to give a rough guess I would say on average I put back about 65% of net to cover all business expenses, but that includes my satellite, maintenance, taxes, equipment, etc.