hey there yankeetexan, actually I go home once a month for 4 days. in a business sense the 131k in 8 months is nice but it is before expenses... truck payment, fuel, ins, permits, ect....
the contract states you must finish phase 1 and phase 2 to full fill your contractual obligation. of course you still need to pay your student loan back or you would not have full filled a financial obligation. don't Finnish either or and they will put that on your dac. cre does have it in writing that the school is "not" meant to be used for other employment purposes. (It's not an accredited school) but all that means is it's not set up for people to get there cdl and go else wares for employment.
I just thought I would post an update to my newest settlement statement 11-02-2010 revenue 4 wk avg $ 5218 year to date avg $ 4054.00 total $ 174313.00 that's before expenses...like truck payment, fuel, ins, permits, variable mileage, maintenance, ect.... this is my income and as an IC I'm a 1099 at the end of the year. income 4 wk avg $ 2318.00 YTD avg $ 1486.00 YTD total $ 63870.00
I was curious. Did you say that you are a leasing a truck, and also a trainer? How are your maintenance costs with your truck while letting trainees drive it?
I don't think my maintenance costs are any higher than they would be normal. that's ware my job to train comes in. I got some good use out of my first set of drive tiers (323000) and they were still at 5 32nds everything else seems to be doing good. I did have problems with my rack and pinion steering, but that wasn't student related.
The reward that reduces the variable mileage payment was canceled in March of 09. CRengland still advertises .80 cmp empty and up to $1.53 loaded, which is false advertising for all drivers who took on a lease after march of 2009. The fuel cap is mostly hype created by crengland to preserve the trucks. It makes a lot of sence and money to get good mph dont get me wrong, but england doesnt really care about you making money. They would never put forth that much resources as they have done to give the driver more money. If they wanted the drivers to make more they would have simply improved pay or reduced overhead expenses. The turnover on lease trucks is close to 100%. England gets most of the lease trucks after 5years for free. Did somebody say variable mileage? When england acquires there new company trucks for free they want them to be in pristine condition. Thats why you get 10X more hype on the qcom about the tiniest bit of over rev (over 1,500 RPM) then you do about conserving fuel. There is a lot more, and I do mean a lot but I will save it for later Leasing from any company is bad. Why would you want to buy a truck for another company. A lease operator makes payments on a truck the same cost as if you were making payments to buy it, with englands variable mileage cost you are paying a lot more, a lot!. But you dont have any benefits of buying your own truck. If you own or are leasing or purchasing a truck from some where other than Horizon you dont have to pay the variable mileage payment each week, talk about a huge raise! The trucks are all set at like 2psi turbo and governed. You can not change that in a lease, if you making payments to buy the truck or leasing it from another company and working for england you would have the choice of full turbo and what the truck is governed at. The late model lease trucks dont have splitters on them the freightliners are 8 speeds, and the internationals are 9 speeds. You will violate englands lease if you add a splitter. Splitters are hard to train on, can cause you to break loose on ice roads. The positives are: Increased MPG, increase power, more consistent speed, go up hills faster burn less fuel, go down hills in perfect gear all jake perfect speed which means less wear on breaks, transmission ets. If you lease a truck from any company you are getting screwed big time. I see big numbers as far as gross pay, but what are the numbers for net check. I grossed over 140k last year, yet my yearly net pay was in the 40k range. The fuel cap vs rebate: different stokes for different folks. I like driving at night which is great because my students dont have to. Running solo am able to adjust trip plan to accommodate most of the time. I like the idea of idling the truck all day when its hot out so I can sleep, and only pay .75 cents per hour. When solo driving I am king of the idol. My truck is rolling half the day, the other half its parked and still running. I still average 6.4mpg, and I live in comfort. My cost is minimal and I live comfortably. Its worth it for me to be able to sleep and not worry about drowning to death in my own pool of sweat before I wake up.
the pay is not false advertising, the pay is what it is. your cost come outa that. England does not get the trucks for free after 5 years! first off the lease is a 3 year lease and after that it gets turned back in to freight liner. and yes it has to be in perfict condition for them to take it back. just like leaseing a car if it is broke it will be fixed if it's scratched up you will be charged for it. England does not do this on their own. some things that are obvious they fix but others are what freight liner says has to be fixed before turn in. and yes they charge the leaser. I don't know any company you can lease or buy a new or used truck (used =under 3 years old) that a new person to the industry can get in to with no money down, no credit check, no time in the industry. most companies want 20% down, 680 or better beacon for credit, and time in the business that shows you can turn a profit. and the companies that do sell or lease a truck (over 3 years old) most of the time do govern them maybe not as low as 62 mph but they still do. and what benefit of buying your own truck are you talking about ? you still write off all of your expenses for taxes. if your contracted on to a company for freight then you only haul for that company under the contract. but you can take your truck to another company if you want to. you have to meet cir tin cryteria of course, like they have to have an escrow acct. for your maintenance, have to provide weekly setlements, ect... now lets talk about conserving fuel....that's all part of the going green. some of the companies that we haul for want to see what our plan to reduce our impact on the environment is. like having clean idle trucks, trying to get better fuel mpg, not being wasteful. and they give out freight out accordingly.
Carrot top ... talking about gross is nice ... but what's your net? Also, are you on the cap or the rebate?
hey there mystichz, I talked about both my gross and net.... revenue = gross $174313.00 (before all expenses) income = net $63870.00 (after expenses) but as an ic i'm a 1099 at end of year so this would be before income taxes. last year my adjusted gross was right at $50000.00 i didn't pay in to taxes all year and still got back $3000.00 because i have 4 small children. I'm on the cap for now but I'm getting ready to take a break from training and hire a co driver, then I'm going to try out the rebate. a former student of mine (from a year ago) is on the rebate and is buying fuel like i showed her (utilizeing the IFTA program) and is paying .90-.99 a gallon. also understand the cost of fuel is just fuel and does not include tax. the fuel tax (road tax) is part of that IFTA program and we pay .015 for every paid mile
Which IFTA program ... I've seen the programs that calculate your tax payment. Not one that tells you where to buy your fuel based on a trip. Also does the pump fuel price not include the IFTA ... so if CRE is charging .015 for IFTA, are you not being doubled charged? Does CRE give you a IFTA reconcillation statement.
