Anyone who wants to drive for JCT plz read thanks

Lets do the math guys and girls.2500 miles at 1.49 is $ 3725.Minus 460 =$3265.Then you said you had to pay $234 before so thats $3031.2500 miles divided buy 6.5 miles per gallon is 385 gallons times $4.75 = $1826.Net profit is thats $1205 dollars I really think your claim of $1844 is quite far fetched.I make $1125 for the same mileage and no headaches not worth it if you ask me.
Wizard4X4's claim is more for real if your running an average of 2900 to 3100 miles a week.Tires, oil changes, windshields,Health ins.,the list goes on.My brother in laws broker pays him around 1.90 to 2.35 on every load thats fuel surcharge included.It just seems to me that these guys are rippen you off.92 cents per mile is a joke.Thats why John is so rich he's making $1.00 to a $1.50 a mile off of everyone of you drivers and don't have to pay you ss taxes or health bennies notta.The only overhead he's got is recruiting and safety and planners.He's very bright I'll say that.[/quote]

 

How can I find a general post board?

 

I had considered going here after I got in my 1 year's current experience. Then I began to do some other math. They say the truck price range is 77K - 116K (and these are used--up to 250K miles). On the 116K the weekly payment is around $550 for 5 years so that equals $143,001 (gotta add that $1.00 buyout) for a $117,000 truck. That works out to $27,000 in "interest". I think I could do better buying my own truck. Heck, you can buy a brand new Cascadia for $127,000. I guess you can say I have started rethinking my future plans.

 

Look into a good used truck with a warrenty. You can get your payments down to around 250 a week with a 3 year 300000 mile warrenty.A 2004 or 2005 model year.You can find some good brokers out there tat will pay for your base plates and cargo Ins. and pay you anywhere from 65 to 80 percent of gross.

 

I Was Wondering My Husband Is Thinking Of Leasein A Truck From Jc We Dont Know That Much About Lease Purchase But We Have Heard That Jc Was One Of The Best Place Hes Always Been A Comp Driver An Just Wants To Find A Good Comp That Can Make Good Money

 

Well, I agree with some of you, I am now averaging $1100 to $1250 a week as a company driver but at the end of 5 years I will not own a truck. I did the math as well and using the freightliner's "select trucks" calculator I came up with the same numbers so I'm considering buying my own truck and leasing on with JCT, I also don't know everything there is to know about leasing but I have spent countless hours doing the math and research but with the intent of moving forward I think JCT is my best option untill I can feel confortable and going with my own authority and work and deal with brokers or maybe try Landstar. Tomorrow I will be asking JCT to send me a copy of the lease/contract agreement and than I'll decide. Times are rough and this is a big decision, although, no guts no glory, right?

 

I was listening to Kevin Rutherford on Sirius Road Dog Trucking Channel the other day and he said, "IF a person is willing to run it like a true business now is the BEST time to become an owner operator." For buying, he stated that he has never seen truck prices this good. He doesn't like lease purchase but said, if you can find the right deal and it is your only avenue, then it still could be a good way to go. Biggest key is running it like a business. One of the most important areas is not seeing your income go from say $700 net as a company driver to $1300 net as an l/o or o/o and saying, "Wow! I have a $600 a week pay increase." You should set a salary for yourself at a point where you can get everything covered and then be putting the rest aside. Maybe set up a bonus system for yourself to help you work smarter. In other words, treat yourself as a company driver. This system will help ensure you have something to fall back on should you face a major repair. It would also enable you to not have to run as hard in a few years since you would have money to cover expenses. In fact, since Landstar allows you to run when and as much as you want, this is an excellent way to prepare for that. If you can have two or three months weekly income saved up, then you can easily run two and take one or two off, if that is what you chose to do.

 

Thanks Paw Paw, I my self listen to Kevin as much as possible and take his information very serious. I have been a 1099 person all of my life and comming to the trucklng industry introduce me to being a 1040 employee. Although JCT allows you 4 weeks before making the 1st truck lease payment, I want to go in with at least 4 weeks of expense budget saved up and put the 1st 4 lease payments into a savings/bond account. Almost 2 years as a company driver and self employed experience ALMOST makes me wanna think that Im ready, my weakness is maintance. I heard Kevin once say: Your fuel and your maintance are your income if you manage your business like a business.......

 

Hey PawPaw, I used your math. Let's figure the interest rate on that 116k loan. Five years at 8.5% interest gives you mighty close to a $550 a week payment. What kind of interest rate do you think you're going to get out of Selectrucks? Selectrucks averages more than 12% interest. If you were to buy a Cascadia for $127,000 at 6.5% interest, do you realize that you would pay $22,000 in interest? And that's if you have great credit! $27,000 in interest as you say isn't bad spread over five years. How much interest do you think you're going to pay on your house? On a 30 year $150,000 loan at 6.22% interest (today's average) you're going to pay $181,434 in interest. You will pay more than double the purchase price for something that didn't cost that much more!!!!

Now, here is my take on these lease programs. If I can make .05 per mile more by leasing than being a company driver, why shouldn't I? It's not about owning the truck, or how much money I'm going to lose (on paper, mind you), it's all about how much money winds up in my pocket. Say you drive as a company driver for five years. Average pay is $50k. That is $250k that I've made. Now I drive a lease program truck. I make $55k per year after everything. Plus I have a truck that's worth $30k. That means I've come out ahead of the company driver by $55k. A full year's wages! In that scenario, who is really getting screwed more? The company driver, who made all the money for the company, or the lease driver, who got to get a little bit of that pie back. Don't get me wrong. I don't expect every lease program to come out ahead. There are many things that are going to change those numbers. A lease driver is nothing more than a glorified company driver. And to me, I want to take as much of that pie home as I can. Even if they charged a "payment" of $7500. If I could take more home, it really doesn't matter, does it? If I started a company paying something like $14 per mile to my lease drivers, and charged them some insane payment, how many people would jump on it? You play with the numbers, and get people to chase it. That's all these lease programs are. It's not a scam. The company is figuring out how to balance it out so they make as much as they can and still try to keep drivers happy. There is a way to make money on every lease program. The perfect program is where the driver and the company make money. It's that simple.

 

You make some good points but I stated I could buy a NEW Cascadia for $127,000. At JCT you are "buying" a truck with anywhere from 100K to 300K miles on it and still paying more in interest than a new one. PLUS, any time you want, you could move that new Cascadia to a new company, not so with the JCT lease, you are stuck there until the end.

And, in today's world of companies closing their doors, what happens to my lease truck if the unforeseen happens and the company shuts down. If I am buying my own truck the company can shut the doors and I hand them back their base plates and permits and move to another company. AND I haven't lost all the payments I put into that company. Bottom line is, until you hand Mr. Christner that $1.00 the truck is his and if anything happens to the company the truck becomes an asset that will be liquidated to settle outstanding debts. If the lender folds on the purchase deal folds the NOTE is sold NOT the truck and I keep my truck with a new lender.

JCT may be a good lease deal. I know it is one that Kevin Rutherford does not speak bad about yet buying is still the better way to go. Wells Fargo has approved me for 10% down and $60K max purchase price for around $300.00 a week. I can buy higher if I want to make up the difference in a down. And as Kevin said the other day, now is a great time to buy as truck prices have never been as low as they are now. Yes the interest may be a little higher (they do that mostly with first time buyers) but I can put that truck on with any company I chose and move it when needed AND only the lender can take it away if I don't make payments. Also, in a year or so I can refi to a much lower interest rate. That is a safer investment in my book.