Leasing mistakes

Cw5110 · Jun 18, 2016

Well thankfully I'm at home while the truck is at the dealership. So I'm not missing too much.

Md420 · Jun 18, 2016

I find it funny that some find a way to make a decent living doing a l/p and come out of it with a truck yet to here people on here it has a 100%failure rate.

scottied67 · Jun 18, 2016

colt379 said: ↑

Let me throw in something quick about leasing before I continue. Basic math 101:
695wk ×4=2780 a month.2780 ×12=33,360 a year.
Zero down for 84 months.
$2780 × 84 months = (drum roll) $233,520.00

LET THE DEBATE BEGIN
Click to expand...

Challenge Accepted

There are 52 weeks in a year. There are 12 months in a year-- 52/12= 4.33 weeks in every month on average.

$695 x 4.33= $3009.15 x 84 = $252,785.40

Looks good to me I don't see what the mistake in leasing is.

Mikesallah · Jun 19, 2016

colt379 said: ↑

I wasn't' sure if I wanted to start a thread about leasing or trucking in general, but since leasing has become so popular (to the uniformed) these days with most companies, why not.

After 20+ years of driving anything anywhere in any kind of weather, I still don't know everything, but I do consider myself a true professional. I pride myself on being accident free.

I decided to write because I sit on my front porch unemployed. I've been told I don't have enough OTR experience and when I want to make my friends laugh I pass that info along to them. Then I go back to reading article after article about the driver shortage and what can be done about it. Of course I have to endure ad after ad of companies professing they don't have enough drivers.

Let me throw in something quick about leasing before I continue. Basic math 101:
695wk ×4=2780 a month.2780 ×12=33,360 a year.
Zero down for 84 months.
$2780 × 84 months = (drum roll) $233,520.00

I know you are saying that's a new truck. Actually that figures out to be payment for two NEW trucks but you're just paying for one.
The numbers aren't so extreme for used, but still in the 100 thousand dollar range for a used truck with 400 - 600+ thousand miles on it. Your biggest concern with that is these new engines are rated for 1 million mile life spans. We old timers called them throw away engines when the low sulfur fuel came in use. Why? Less engine lubricant in the fuel.

What is broke with trucking is the same thing broke in America. Its the person who is reading this and saying I don't care and running down to the leasing company. I applaud your "can do" attitude, but your thinking in the head is broke out of desperation to win and succeed.

When I see companies posting 3 billion dollars in revenue and they pay their drivers the lowest wages in the industry from 10-15 years ago, it's easy to understand why. It's math 101 again.

Lets go back to driver shortage which isn't a shortage at all. The game is to get the guy who has never driven a truck before to get trained, team with someone (upwards of 13 months) become a low paid company driver and then maybe lease. After a few years you either buy or leave the industry because you can't make your bills.
The only shortage there is with drivers is with the inexperienced drivers who don't know what's going on.
Years ago I told an employer how much I thought I should be paid and he agreed. Surprised me. Then it became obvious that he was shorting me mmiles should have been payed for. Verified by another driver with the same run.
For those of you under percentage. You'll never see the document stating what the company paid to have that load transported. Even a 1 percent embezzlement adds up to a lot of money.
Same goes with the fuel surcharge.

E-logs. Another way you will lose money pacifying an over reaching government.
I did like them until something goes wrong. I got dispatched and started rolling and my electronic partner started my clock for me 1 mile down the road. How sweet is that? After about 30 minutes of driving pulled over to read the message on the Qualcomm. Load canceled, stand by. I stood by for about half of my 14 hour day. When I was finally given another load, I had to inform dispatch I didn't have the hours to do it because my 14 hours was about up for the day. Yeah, this is what will make the trucking industry safer and better.

Conclusion to the lease: Don't do it. Don't even go to CDL driving school. Find you an Owner Operator who will let you ride for awhile. Take you under his wing and you will learn everything about trucking in doing so. I've known a few companies that started out that way.

The best thing that could happen for the trucking industry is for it to stop for about 3 days.
Wages would go up. Truck prices would come down. The billionaires would get out of the business and the working man could make a living again. Oh yeah, shipper and receivers wouldn't treat you badly anymore. Three days of Americans thinking the country is going to collapse for a generation of honest work with honest pay. Seems fair and easy to do, but going way back to the start of this rant when I said the problem is the person reading this and saying "I don't care".
If you can't go 3 days without driving...that's a clue you're in the wrong business to begin with.
Again...don't lease that truck.
LET THE DEBATE BEGIN
Click to expand...

colt379 said: ↑

I wasn't' sure if I wanted to start a thread about leasing or trucking in general, but since leasing has become so popular (to the uniformed) these days with most companies, why not.

After 20+ years of driving anything anywhere in any kind of weather, I still don't know everything, but I do consider myself a true professional. I pride myself on being accident free.

I decided to write because I sit on my front porch unemployed. I've been told I don't have enough OTR experience and when I want to make my friends laugh I pass that info along to them. Then I go back to reading article after article about the driver shortage and what can be done about it. Of course I have to endure ad after ad of companies professing they don't have enough drivers.

Let me throw in something quick about leasing before I continue. Basic math 101:
695wk ×4=2780 a month.2780 ×12=33,360 a year.
Zero down for 84 months.
$2780 × 84 months = (drum roll) $233,520.00

I know you are saying that's a new truck. Actually that figures out to be payment for two NEW trucks but you're just paying for one.
The numbers aren't so extreme for used, but still in the 100 thousand dollar range for a used truck with 400 - 600+ thousand miles on it. Your biggest concern with that is these new engines are rated for 1 million mile life spans. We old timers called them throw away engines when the low sulfur fuel came in use. Why? Less engine lubricant in the fuel.

What is broke with trucking is the same thing broke in America. Its the person who is reading this and saying I don't care and running down to the leasing company. I applaud your "can do" attitude, but your thinking in the head is broke out of desperation to win and succeed.

When I see companies posting 3 billion dollars in revenue and they pay their drivers the lowest wages in the industry from 10-15 years ago, it's easy to understand why. It's math 101 again.

Lets go back to driver shortage which isn't a shortage at all. The game is to get the guy who has never driven a truck before to get trained, team with someone (upwards of 13 months) become a low paid company driver and then maybe lease. After a few years you either buy or leave the industry because you can't make your bills.
The only shortage there is with drivers is with the inexperienced drivers who don't know what's going on.
Years ago I told an employer how much I thought I should be paid and he agreed. Surprised me. Then it became obvious that he was shorting me mmiles should have been payed for. Verified by another driver with the same run.
For those of you under percentage. You'll never see the document stating what the company paid to have that load transported. Even a 1 percent embezzlement adds up to a lot of money.
Same goes with the fuel surcharge.

E-logs. Another way you will lose money pacifying an over reaching government.
I did like them until something goes wrong. I got dispatched and started rolling and my electronic partner started my clock for me 1 mile down the road. How sweet is that? After about 30 minutes of driving pulled over to read the message on the Qualcomm. Load canceled, stand by. I stood by for about half of my 14 hour day. When I was finally given another load, I had to inform dispatch I didn't have the hours to do it because my 14 hours was about up for the day. Yeah, this is what will make the trucking industry safer and better.

Conclusion to the lease: Don't do it. Don't even go to CDL driving school. Find you an Owner Operator who will let you ride for awhile. Take you under his wing and you will learn everything about trucking in doing so. I've known a few companies that started out that way.

The best thing that could happen for the trucking industry is for it to stop for about 3 days.
Wages would go up. Truck prices would come down. The billionaires would get out of the business and the working man could make a living again. Oh yeah, shipper and receivers wouldn't treat you badly anymore. Three days of Americans thinking the country is going to collapse for a generation of honest work with honest pay. Seems fair and easy to do, but going way back to the start of this rant when I said the problem is the person reading this and saying "I don't care".
If you can't go 3 days without driving...that's a clue you're in the wrong business to begin with.
Again...don't lease that truck.
LET THE DEBATE BEGIN[/QUOTE
You are so right on the money. I am new in trucking and I can see it just like you said!
Click to expand...

Brandt · Jun 20, 2016

Let's hear from all the successful L/P drivers and put their number out. How much did they claim to IRS and how many miles they drive up in a year.

KriegHund · Jun 21, 2016

There are two questions that are rather taboo to ask another. 1. How much do you make. 2.what is your religious beliefs. Most people whom answer these questions when asked lie anyhow. Common home training teaches you that it's bad etiquette.

JJ 501 · Jul 9, 2016

Rooster1291979 said: ↑

This thread deserved to be side tracked at post 1.

"I have 20 years experience. I can't find a job and enjoy sitting on porches. Let me tell you whats wrong with leasing...."

Mystic was right. Drivel.
Click to expand...

He has 20 years expirience and can't find a job,but he can give advises.

Youngtrucker91 · Feb 3, 2017

scottied67 said: ↑

Challenge Accepted

There are 52 weeks in a year. There are 12 months in a year-- 52/12= 4.33 weeks in every month on average.

$695 x 4.33= $3009.15 x 84 = $252,785.40

Looks good to me I don't see what the mistake in leasing is.
Click to expand...

10 4

AModelCat · Feb 3, 2017

I really don't understand why someone would lease. I would rather buy my own truck outright.

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