$1.02/mi.!

On the range of freedom between being a company driver (minimum freedom) all the way up to operating under your own authority with a paid for truck (maximum freedom), leasing on as a dispatched lease operator to an owner operator only company is probably two rungs up on the ladder.

The 3 main freedoms I absolutely love being a lease operator are home time anytime I want, being able to turn down loads, and I can do a 34 anytime I want. These freedoms are invaluable and are worth more to me than even a higher paying company driver job.

 

True. But those freedoms come at a cost.

Negative. Settlement. Check.

Sure, you can take a week or two off. But what happens to your take home when you get back on the road? The lease payments don't stop. You are in a hole and it will take a week or two to see a positive settlement.

Compare that to a true owner operator another couple of rungs up the ladder. He has a truck that's paid off. He also truly owns his trailer. He's leased on with a company that pays 70-80% of revenue.

If HE takes a week or two off that negative settlement is miniscule compared to yours. His average settlement checks are double yours. He runs 30% fewer miles than you do.

Who has more freedom?

 

I'm in a pay by the mile lease so it eases the burden of home time debt. My fixed expenses are 314 a week. I just took nine days off, so I'll be in the hole for 628. I could have taken a short settlement, but instead doubled up for a 2000 dollar settlement going home. I'll be out of the hole in about 4 days, but I'll have one negative settlement before I have a positive settlement due to the timing of my home time. I could have avoided this by taking a 1000 dollar settlement and a 686 dollar settlement.

Here's another positive at the place I currently work. If I break down, my company will pay for the repairs on my truck. They front the money and let me drive my way out of debt at 0.05 cents a mile. I've been as deep in debt as 5000 dollars at one point. Now I'm positive in my maintenance account once again. My cash flow was never greatly negatively impacted by major breakdowns that weren't covered by warranty.

I've had my current truck and raised it from infancy...a little over 1000 miles on it when I got it. It'll be paid off in a little less than three years and I walk away with the title. No balloon payment. There are higher risk higher reward options out there, but I like to play it safe. Also, having fixed per mile pay leaves me not having to worry about the ups and downs of any markets or competition. I can count on my money being relatively consistent.

I've thought about other options, but my current situation is the safest, steadiest route to ownership.

 

I don't have the headache of having to run 5,000 miles / wk just to make truck payment as I'm a company driver.
I turn down any load I don't want. I take a 34 every weekend. My home time is awesome, being I'm home every night. Heck, I'm even making enough that for the first time in my life that I moved in my first house I've owned (well, finance company owns, but you know what I mean) back in April. I just cannot see any good reason to go l/o, or o/o for those prices.

 

To each their own. I personally can't stand to be home every night and when I come home I like to take a nice long refreshing vacation. I can easily take 9 days off every 4 weeks and still do fine for my financial situation. I also only need to run about 3200 miles a week, which is probably way more than some of these other drivers drive, but I love driving. That's why I do this.

 

The ones that don't read the fine print there the one's that'll do it.

 

Most drivers are dumb. It's that simple.