Schneider Lease-Purchase..

One thing I would tell you to do right now if you're driving a company truck is operated like it's your own and keep track of fuel cost then you'll get a basic idea of just how much it'll cost... are your biggest expense by far that will flush away will be your fuel cost if you can manage that as well as being pretty good a trip planning and managing your finances then you should do fairly well over here on this program one of the things you want to learn if you come on this program and learn the different Freight Lanes

 

Are you guys doing, or have you done, a Lease with Schneider? I spoke with someone yesterday about the 52 week lease on a Cascadia. I dont like Freightliners, but if thats all I can get it will do until I can upgrade. They also told me since they are seperate from the trucking company, my lease is with them and if I want, I could take the truck anywhere as long as I keep making payments.

Freight lanes, what is the best way to learn those? Will I have to wait until there to learn them?

 

Most everyone on this forum has done a lease through SFI....

I've done 3 of them....

Do some research, use the search function, and you'll learn a lot from us...

As far as freight lanes go, you gotta be in it to win it...

Roll on....

 

3 leases??

 

I would suggest maximizing time management. Start with an area you are familiar with, then venture from there. The first two weeks learning the Qualcomm AND workflow will push your stress button beyond insane. The load board will become your television and it is on 24/7. Expect for Schneider to throw you curves constantly. You will have to adapt and move on. Set a goal and work for it. Everyone's has a different level for profitibility, only you decide that. Ignore the braggers, remember its your business. Maintenance is extremely important, but you will break down. Be prepared on what you will do when it happens. Most of this will come with time and experience. I wish you well! It is very doable and has potential.

Personally, I have been in the industry too long and I don't like how the horizon looks with all the regulations from Schneider and the government just to make a living.

 

That's VERY good advice above.

 

Yep..

A 6 month lease on my P.O.S. truck that SFI replaced with another truck on a 1 year lease....

Then a 1 year lease on my current truck that I am now purchasing...

So let's do the math, 2.5 yrs worth of leases on 3 different trucks...

Of course you'd know all this already if you'd read my threads...

Anything else you care to comment on....

Roll on....

 

At least we hav'nt seen the "How much money will I make?", "How many miles will I run?", "How often will I get home?" stuff in a while.

 

I don't really have to read your threads its none of my business.. I've been here too long to do that I just saw 3 leases and went off that.. But i will give you some advice..I would've bought that glider that you had lined up and if sni didn't let me on I would've left to greener pastures..

 

Feel free to tell me to mind my own business, but out of curiosity who do you drive for and how much do you gross a year right now? Team drivers should be grossing at least $70,000, plus they have company paid health care (make sure you budget in health care costs, one of those "hidden" costs new ICs forget about). Is it possible to make more as a company solo driver while maintaining time at home needs with a different company?

You or someone else wondered why every time you ask for information you get told how hard it is and how bad an idea leasing a truck is.

We see so many people try and choose to leave for a variety of reasons. The first three truly active IC posters on TTR were @sadwar, @dieselfuelonly , and @chicknwing. Chicknwing left after 6 months because the money he was making wasn't worth being gone from home. He got a job running local LTL for the same money he was making as an IC - with less risk to himself. DFO ran smart as heck, but the stress of owning/running his own business took a serious mental toll (there but for the grace of god go I). Sadwar has done really well over the last (nearly) 3 years, but if I remember correctly the first 6 months were pretty rough. Sadwar had little or no debt starting out, a loving, supporting, gainfully employed fiance/wife, and a cat when he started. He moved into a great freight area that allows him to maximize TAH and Income. Sadwar's hard work is what made him successful but circumstances worked to his advantage. Even being one of the most successful ICs to post here, Sadwar was looking to get out of trucking a few months ago. That should tell you something.

The next three long term guys, @rickybobby , @TennMan , and @freightwipper all have different business models which work for them. Rickybobby plays with his truck half the year and plays with guns the other half (more than a little envious but there are reasons people don't want me playing with large caliber weaponry). In terms of trucking income he makes just above a new driver's annual income. His truck is payed off and when he needed to rebuild the engine his finances/financing was in order. TennMan has stated that he makes about what a company driver would but he went the IC route to better control his time at home. He drives his rear off Monday thru Friday to be home. Freightwipper runs months at a crack and from what I gather makes $10,000 or so more than I do as a company driver (last year $72,000 this year on track for $75,000).

All six of these drivers came in well educated, financially stable, and a supportive wife/single. They all made choices based on calculated risks and have been successful, yet 1/3 of them are no longer ICs. An oft mentioned statistic is that 40% of people who sign onto SNI Choice are no longer with the program one year later - for whatever reason. Even the guys who have been doing this successfully for a couple years have mentioned how much more they're working this year just to keep pace with last year. Buying/leasing a truck is a serious commitment and a large risk. There's a reason equipment finance companies can charge 14-18% interest. I look around at all the new IC drivers who return to being a company driver or leave the industry in a weaker financial position than when they started and have a visceral need to make sure anyone who asks me about Choice understands it's not a "turn key and money pours in" deal. It's hard work, and more importantly its SMART work. If after doing your due diligence you still want to pursue being an IC, you have my sincere best wishes. I will continue being a doomsayer to try and counteract all of the sugar coated advertising thrust in our faces.