Big opportunity For CR England Lease Operators? Merged 3 threads

Not to double post, but wanted to comment.

CRE is not a lease-purchase. You complete the lease, and then they give you the option to buy the truck if you can pay the down payment. They do have 'awards' you can use to waive the down payment and/or credit check.

THEN you get to actually buy the truck.

I leased a used truck for one year when I first started. Then, bought that truck on a two-year deal (it was 3-years old at the time). Paid it off at the end of 2009 after only 18 months. Went the next 2+ years with no truck payment or variable payment. Just repairs. Which I could never get ahead of under CRE's pay without training. And I refused to go back into training. I don't trust rookies with my life while I'm sleeping in the back. Was young and stupid when I first started. Won't even consider it now and really hope the FMCSA institutes the rule that 'trainers' must sit in the passenger seat while the student drives until they've accumulated x number of hours.

Made a gross revenue of about $670k on 616k paid miles in about 4.9 years. I switched from the fuel cap to fuel rebate programs frequently so my revenue looks distorted because of it (if you're on the cap, you only get the mileage, no FSC, but all fuel charges are $1.25/gallon). But, when you're on the rebate program, you get 90cpm plus the rebate (which when I left was still 40cpm). So, it looks like you're making more, but then you're paying fuel price for diesel.

$10,156 Variable charge (mine was 9cpm instead of 14cpm due to leasing older equipment)
$22,194 Lease payments for 54 weeks (finishing up the end of a 3 year lease at $411 a week)
$50,856 Purchase price including interest (I paid it off almost 7 months early, so my interest was less, but don't feel like doing the math. I only wrote off depreciation and interest, and forget what my base principal payments were each week, but they were $489 a week)

In the end, between leasing and purchasing, I had bought and paid for a truck that started with 400k miles on it and paid $83,206 in total from July 2007 until late December 2009. I know I way overpaid for the truck. But, to buy it was cheaper than leasing. I got it without a credit check and no down payment. I also wasn't forced into paying any 'turn in' fees associated with the lease.

Again, this is 'exhibit A' in why I left. When you really sit down and run the numbers.

If CRE gets a brand new Freightliner and leases it to a driver, this is how much money they will make in three years with a team running 200k paid miles a year:

$31,200/year lease payments
$28,000/year variable mileage payment

In three years, they bring in $177,600 for a Freightliner. Now, they still have the truck. Let's say they sell it at the affordable price of $45,000 at 14% with no down payment or credit check.

$45,000 truck principle over 2 years
$6,300 interest at 14% over 2 years
An additional $51,300.

So, that one truck was leased and sold for $228,900. Talk about sticker shock.

Of course, solos would have lower variable mileage payments due to fewer miles. But, the rough numbers are representative of what is going on.

 

850 miles is not logical. a driver on the highway for 10 hours straight will only gross 600-650 miles, why? because every truck leased through England is required to be governed at 63 mph and when you have an appointment for the truck to be inspected by horizon/ cr England they will be looking for the governor. also anything over 500 miles is .90 per mile not $1.00, $1.00 is for loads around 300 miles and if you are hoping to get at least 600 miles you will be on a single load so you would make only .90 per milles

the truck payment is 540 dollars per week locked in at 3 years and after 3 years if you want to purchase the truck you will have to continue making monthly payments for 2 more years. insurance for a new truck is not 200 dollars for a driver just starting out with a cdl with little to no experience insurance is more along the lines of $800-$1000 dollars. fuel is $1.25 per gallon at 7 selected truck stops, and if its not one of the 7 you will have to pay full price for diesel fuel. tax and retirement is 20 to 30% of gross earnings for a new driver, and increases as you age. permits are 50 dollars per week, automatically deducted from your pay. licenses for a tractor is $400-$430. you will actually make 2500 miles per week to be honest, so calculate the costs and income now.

 

So the truck payment is 540 a week .. Then on the OP's post for the run specified has an additional $700 or so in a VARIABLE MILEAGE FEE .. Which is basically a TRUCK USEAGE FEE.. Adding both you get $1240 a week ( + or - 50 )

1240 x 4 = 4960
4960 x12 = 59,520
59520 x 3 = 178,560

tgen you have either a balloon or finance truck another 2 years to get the title .. In this example lets say that they drop the Mileage Premium and you just have the truck note for 2 years left to pay

540 x 4 = 2160
2160 x 12 = 25,920
25920 x 2 = 51,840

178560 + 51840 = 230,400

now if you don't see this is a bad deal you should RUN not WALK - RUN from then I can't help you anymore than this .. This does not take into effect your not gonna get the 1.25 a gallon fuel that's FSG to make it that which is built into your loaded and MT rate not to mention in order to get the 1.25 you prob have to avg 8.5 mpg to home close .

If the numbers in this post don't show you you will be doing good to make $200.00 a week if not less or even be in the rears ( -) .. Then you need to keep us updated on your journey

tgeir numbers are a SALES GIMMICK plain and simple .. If you did this plain on NEVER and I mean NEVER seeing your house .. Or you will wind up in the whole with the fixed cost so deep you'll never see a pay check maybe in 5-6 weeks if your lucky ..

CR is a bottom feeder with 100% turnover plus - their lease is no exception . They just pass the burden onto YOU ..

 

Not to mention if you think 230k or even 178k is a good deal on a truck ..
I got some flooded swamp land I will sell you for 50, 000 an @ .. I know the price sounds steep but if you drain it , you can sell it to a investor to build a strip mall ..


See the sales GIMMICK ..

 

There are 4.33 weeks in every month on average so the numbers upon calculation are worse yet-- 52 weeks divided by 12 months equals 4.33 weeks times 540 equals $2340 a month.

$2340 x 12 = $28080
$28080 x 3 = $84240

 

911 911 911 911

 

50 bucks a week for permits??????!!! WTF!!!!!! Its roughly about 76 bucks a year for your cab card. Wow what a scam.

 

a friend of mine worked as an owner operator for cr England, in 6 months she made 200 dollars after expenses

 

the actual total cost of a new truck leased through cr England would be

540x4x12x3=77760
2500x0.14x4x12x3=50400
540x4x12x2=51840
2500x0.14x4x12x2=33600

77760+50400+51840+33600=213600

estimate total cost of new leased truck= $215,000

 

All their costs are crazy high did you see the 80 a week or so for OCC AC that's double plus 5-7 on a normal rate