Prime inc or Millis Transfer

Someone help me! I see people talk about leasing and when i do the research and see some of the money these people are making with company lease after paying everything and their taxes it is about just the same as a company driver and my reaction to that is WHATS THE POINT?

 

You can make money on a lease. The cards are generally stacked against you, but it's not impossible from what I've heard and seen.

I actually think the lease payments with prime are pretty fair. If you were to buy a 2015/2016 Kenworth T680 or Freighshaker Cascadia Evo new or lease one with a few miles on it, you payments are only a few hundred less than prime. Prime makes you fund a maintenance and tire fund, plus there is insurance and some other goodies. Then theres the fact that you're taking literally no risk, aside from possibly ending up slightly more broke than you were when you started.

But really, the biggest issue with leasing from Prime and most companies, is you don't have much control over your business. You can take what ever loads you want, but you get offered one load. You turn down a load and you get bumped to the back of the line. You don't get the benefits (independence) of running with your own authority or leasing a truck onto a carrier. You can take time off whenever, but you have a payment to make. But again, you don't have the risk of an O/O or someone who leased through someplace like Lone Mountain.

I imagine if you treat the experience as if you were leasing an asset to generate revenue (rather than "i own a truck! lets spend 2 grand on cool graphics or chrome), rarely go home/take time off, and run efficiently (IE minimize your business's biggest expense - fuel) you could probably make it.

As far as taxes go, you'd be an independent contractor, not a company employee. You're running your own business.