John Christner Trucking - My Trucking Home

yep you're right, I think self-employment taxes for an LLC are 15.3%. So that would be an $1122 check after taxes. But still 36cpm pre-tax when comparing it to company pay

 

What do you have in 5 years if you buy a brand new truck from a dealer?

 

A truck with about 300k less on the clock because you didn't have to drive your sack and your truck into the ground @90cpm+fsc.
To make a buck or two.

 

I'm fairly certain that you don't have to drive the truck into the ground to pay it off in 5 years....or less. Beyond that, you can pay the truck off any time you want.

I'm no longer at JCT (I'm a project manager), but I find it fascinating the number of people who still claim you can't make money with JCT. I was only there about 4 months. Told them I wanted to "rent" a truck until I find another consulting or PM gig at home. They were fine with it and I made plenty of money. Turned in the truck and got $2800 refunded from the maintenance fund. ATBS did my taxes and saved me even more money (in other words, I didn't even use HALF of the JCT money I had socked away in my tax savings account, all from JCT revenue.) That would all have been used to pay off truck early if I wanted to buy it.

If you cant make money and pay off a truck at JCT, you are just not trying hard enough.

 

Okee dokee muskogee

 

oh it's possible but you won't make as much as a company driver, but hey if guys wanna stay out for weeks running a reefer for .90cpm go at it.

 

less interest and can put truck on where you make a lot more then .90cpm pulling a reefer plus I wouldn't buy no aero plastic junk so after 5 years it would still have some retail value.

 

Well, I'm no longer driving, but I made a bit more than an average company driver. It's been a while, but I remember my avg settlement being around 1400-1500 before taxes. I also had .10/mi coming out into the maintenance fund. Only sent 28% to tax saving account. Had most of the tax savings and almost $3k in my pocket after leaving. They did put new drives on the tractor too.

 

Well, I would assume anyone getting a title to a tractor at JCT would be able to get more than .90/mile as an o/o. I know you hate the aero trucks but hell, it seems all makers are going lighter with all that fiberglass nowadays.

I have no clue what the interest rate would be if I had bought that tractor but I beat interest anyway by paying ahead. Like I do on my car. Either way, if someone has the credit and down payment , yeah, going to a dealer might be the thing to do, more so that you can the specs you want than anything. But I'm being most who do lease purchase aren't ready for that downpayment.

And seriously, I personally know a LOT of lease drivers with the title to their trucks. Not just jct, prime, and quite a few others. My bud (former Prime) leased onto prime when he got his title for a few years, now at Landstar. Still loves his truck.

Not for everyone I guess.