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$300k for a lease op. Good or bad?

Discussion in 'Questions From New Drivers' started by MonetaryWage, Apr 3, 2022.

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  1. Apr 3, 2022 #1
    MonetaryWage

    MonetaryWage Light Load Member

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    Been keeping up with a driver who has been OTR for 35 years. He said he did $300k in 2021, of which around $210-220k (I forgot the amount) was his gross after taking out the lease payment, fuel, and all of the stuff the company charges. Is that considered good for a lease op?
     
    MonetaryWage, Apr 3, 2022
    MonetaryWage, Apr 3, 2022
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  3. Apr 3, 2022 #2
    Star Rider

    Star Rider Road Train Member

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    I bet he went through a lot of diapers to make that . Did he deduct the cost of those?
     
    Star Rider, Apr 3, 2022
    Star Rider, Apr 3, 2022
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  4. Apr 3, 2022 #3
    MonetaryWage

    MonetaryWage Light Load Member

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    He’s not dedicated. He goes home every weekend. I’m sure he stops at least 5 times a day to rest so no diapers. That’s why I’m asking! Imagine what I could do without stopping once!
     
    MonetaryWage, Apr 3, 2022
    MonetaryWage, Apr 3, 2022
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  5. Apr 3, 2022 #4
    LtlAnonymous

    LtlAnonymous Road Train Member

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    It's the only way to make money out here anymore.
     
    LtlAnonymous, Apr 3, 2022
    LtlAnonymous, Apr 3, 2022
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    God prefers Diesels, D.Tibbitt, MonetaryWage and 3 others Thank this.
  7. Apr 3, 2022 #5
    Keepforgettingmypassword

    Keepforgettingmypassword Heavy Load Member

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    It's a good deal but I don't believe it. Unless he is not in general frieght. In specialised I would believe it.
    For example. Last year fuel was 2.00 a gallon cheaper. So let's say 1k gallons a week times 3..00 times is 3k times 48 weeks is alot. Registration is 1700 insurance is 350.00 a week. Lease cost average last year was 560 a week. ( from what I've been told) oil changes at 350.00 every 25k miles. So I have already gone past his 90k tax deductions and left a couple things out.
    Let's say I'm wrong. I'm ok with that. If you have to ask your self if getting taxed on 200k a year is good. Then you are prolly already making more than that. At my meger tax bracket of 15%. That would still be 120k after taxes. So I would say that's a great year.
     
    Keepforgettingmypassword, Apr 3, 2022
    Keepforgettingmypassword, Apr 3, 2022
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  8. Apr 3, 2022 #6
    Dave_in_AZ

    Dave_in_AZ Road Train Member

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    $210K profit before taxes last year. That was with about 10 weeks at that casa.

    No diapers.
     
    Dave_in_AZ, Apr 3, 2022
    Dave_in_AZ, Apr 3, 2022
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  9. Apr 3, 2022 #7
    MonetaryWage

    MonetaryWage Light Load Member

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    I know that he does reefer. I know he pays over $1k a week for truck payment, health insurance, etc. He did say his net after tax was around $120k.
     
    MonetaryWage, Apr 3, 2022
    MonetaryWage, Apr 3, 2022
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  10. Apr 3, 2022 #8
    Cowboyrich

    Cowboyrich Road Train Member

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    I'm sure it also involved not running cheap freight and keeping the door closed.
     
    Cowboyrich, Apr 3, 2022
    Cowboyrich, Apr 3, 2022
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  11. Apr 3, 2022 #9
    bonder45

    bonder45 Road Train Member

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    90% of the people out there lie to make themselves sound better.


    It’s human nature. The only way to know the truth is with hard facts you can see.
     
    bonder45, Apr 3, 2022
    bonder45, Apr 3, 2022
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  12. Apr 3, 2022 #10
    Rideandrepair

    Rideandrepair Road Train Member

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    Those numbers don’t add up. Let’s get this straight. $52k fixed cost. Only $38k fuel? $90k in taxes? Nice try.
     
    Rideandrepair, Apr 3, 2022
    Rideandrepair, Apr 3, 2022
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