I have been with a lease/ Owner Operator Co. for 14 years and I am beginning to wonder if I am giving more profits to the lease than I should be. I believe they make it sound like your making $2.00 + a mile but there is a lot I am paying towards the Lease Co along with the truck. Can someone please tell me some information on how to find out if I am getting screwed??
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Lease/Owner Operator
Discussion in 'Lease Purchase Trucking Forum' started by Ghost Rider17, Feb 23, 2018.
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You been doing this for 14 yrs and you don't know EXACTLY how much you are making????
stwik, driverdriver, nightgunner and 2 others Thank this. -
Actually I was in a bad marriage and She handled everything Unknowing to me I was not aware she did the taxes everything and Upon separation over a year ago I actually am looking at the paperwork I’ve had a friend of mine continue to tell me that it didn’t look right Because total revenue versus what actually made a split in half through a company where I am paying for everything even five dollars every transflow scan in a app They required me to download on my phone and demanded all loads must be transfer within 24 hours after delivery or we do not receive payment for them until next week and you know #### Astro cause you know how it is especially when they require you to have a ELD when you got a pull over and you’ve been up for a couple days you has that we follow sleep your couple hours late of their 24 hour line and they won’t even fix it. need a mind you this is a lease owner operator Company so every week I am out of those $40 just for transferring documents they tell me I have to transfer mobile and I also have to pay for trip packs and I’m confused because they can look at my ELD and tell everything that I do and at the end of the year my break down they say is a 1099 for the year it doesn’t even look like one but if I’m out of work they still take my lease purchase which is $667 a week for five years plus an additional $5000 if I choose to own The truck but I am responsible for every bit of the maintenance and Fees etc. Plus I get paid per week But my loads are not current they’re always two weeks out. that I’m just wanting some insight here I’ve been trucking for over 20 years I didn’t never deal with the All of this and now that I’m looking at it isn’t there some type of guidelines or insight that can help they are even getting 30% of my detention pay which is only four hour max and it doesn’t start until I’ve been waiting for four hours.. why and how can they do that?? just want to some insight because I would like to actually Just try not to make any more financial mistakes when it comes to me just working
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You seem to be working your butt off just to pay for your company's truck. If you have a good mvr you likely could do a lot better as a company driver. Lot of decent companies out there. I wish you good luck.
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OK let's make this simple.
ARE you a lease purchase owner or an owner independent of the carrier leased onto a carrier? -
I don't think he really knows.ChaoSS Thanks this.
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Has to be a troll post.
Streetroddreams and driverdriver Thank this. -
All sounds confusing to me.
For $10 a month. You can have an internet faxing service to use on laptop or cell phone and you can fax anywhere in the country you have a signal. That's a lot more convenient and cheaper then using truckstops.
I used to use efax. -
1) Your Lease Contract should be "revised" by your Lawyer.
2) Your CPA (accountant) should revise your numbers and make them clear to you.
HAPPY TRAILS.!! -
After reading your post, with the "info" you are providing and trying to make sense of it.........
It seems you have been "dupped". You need to find a "neutral", experienced Trucking CPA. Spend couple of bucks unravelling that mess. Then....Run..Run....Run.
Take a week's Vacation on a cheap Campground and Plan the next phase of your Trucking career. Good luck, sorry could'nt give you a better view.
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