Is Floyd Lease a scam/bad deal

Before you lease, fuel is about 35%..to just beak even 6.5 mpg avg. expenses payment, plates, heavy road use tax, taxes on what you truck makes after deductions., yes the dreaded IRS. They do not play. Maintenance es...btw you can only take a write off when you use it. Yes you'll need one because you will need repairs. What about health insurance After all said in done you might only take home $700. think long and hard. You can make it work. It takes a lot of hard work. Most have tried and lost everything.

 

You need to do some reading. Try this for a start:

The odds are in favor of the house

Most L/P deals turn out very badly for the driver. There are a ton of stories on TTR about L/P. You'd be doing yourself a favor and probably avoid future problems to do some research.

 

Your So right, like I said. Most of all have failed, and lost everything. They build up hopes, while destroying dreams. L.p. is a hard road to travel. They are just taking on all the money risk for the company. Getting ripped off. Making about $1 mile while their company maybe getting $2 to $3 permile.that is like 30/70 split. Take venture log out of indy. They make about 3 per mile. Pay the lp 1. If they have a route with 3 stops they get paid for 3 loads while the lp get paid only $10 per stop. Thats call being scamed.A lot of new guys don't know how to make money, or run.I been out here now 27 years, I'm very old school. 3rd gen driver....I'm still driving for a company, why? Enjoy being home everynight. Enjoy having a life. Best part of all $900 take home Avg on 5 days. No headaches.

 

Your gonna wish you made company driver pay.
You might owe money at the end of the week.

 

You gotta do your homework I worked for them, made dam good money but I had my own lease truck not their lease truck, the program they run are all broker loads all the major carriers they can pull from except landstar and somebody else but they will keep you running because of them this summer I will get getting my mc# and starting my own business , they are a partner company with quality so you can go directly to Quality and get your own truck and bring it over there. Gotta think outside the box

 

I talked to Tom from Floyd the other day. Pay is 80% and truck payment is 435 for 48 months. Thats on a 2016 cascadia.

 

Here is some advice from a lease driver.

1: Don't work for a company that want's to pay you per mile unless they pay 1.50 plus fuel surcharge. I am payed 79% of the line haul and my average rate per mile is 1.90 all miles.

2: If you want to know if a program will work for you then run the annual numbers based on 100,000 miles per year. Don't forget to add in your personal costs to that number after all you need to make enough money to not only keep your truck profitable but also pay your personal costs.

3: Be realistic with your expectations. You are not guaranteed to make more money then a company driver doing this. This is just an opportunity to make better money but it comes with the risk of being responsible for the truck. With a little luck you will make a small chunk of change and learn the business side of the industry. I have learned a lot this last year and made just over 72k after everything was paid for the truck. That number does not include a wage for me.

4: Do your research. Getting information via places like this can be good sometimes, but it comes at the cost of dealing with all the neigh Sayers as you have seen. The only time I put any credit to someone saying it's not a good idea is if they provide proof of their accusation. I would rather see someone post a page long comment going through their experience and giving information on both the good and bad as well as why they decided to walk away rather then the typical responses you have seen already.

5: Find a company your interested in and work for them as a company driver for a few months so you can learn their lanes and see if they are a good fit for you. This is also a good time to keep track of the costs of the truck to get some real numbers to give you a better idea if a lease will work with them.

6: Be smart with your money. Always set aside some money for "the what if's" and your taxes. Don't ask anyone what is a good amount for the taxes. You will get a very wide range of answers. It would be best to talk to an accountant about that.

I once saw someone post a comment on a forum here that just stuck with me " don't be an owner operator for the money do it for the freedom." This is so true. You will not get rich out here doing this but you will have more freedom then a good portion of company drivers. Freedom is not going where you want and taking as much home time as you want. Freedom is having a say on where you go and running your truck how you feel is right. I have not ran myself ragged trying to maximize my paycheck because of being paid per mile in a long time and it has greatly reduced my stress level. I just had a brutal month last month due to the weather, but I had enough money set aside to weather the storm and move forward. Lets just put it this way I generally make 6 - 7k per month but I only made 1,500 after truck expenses

That is one thing you have to be willing to endure. You must take the good with the bad and look at the big picture. Don't base things off of a small time period base them off a large span of time. Yes I had the worst month of my year, but I have had several months of great money IMO. It all evens out. I hope this help you and good luck. Feel free to message me if you have any questions. I am here to help.

 

That was ABSOLUTELY wonderful advice and all true. That info is a Blessing in disguise if you don't know anything about doing a lease program. May God Bless you my friend for that " real talk info". 100% of what you said is exactly what I am experiencing now but, God has Blessed me to be able to buy out of my lease early, literally like next week! God is good . But I must also add some more loving info with yours my friend for that young man. Question first, what's your relationship like with God and or are you a believer of God the Father, Jesus Christ the son and the Holy spirit the help that God provides for us while on earth to maintain the obstacles of this world ? ? ? Get the " Book Instruction Before Leaving Earth - AKA - the BIBLE and read Proverbs; chapter-3 vs 5-10. Very important ! ! ! And part of the key in being successful in life no matter what it is you like to do. God Bless everyone who has read this in Jesus name, Amen.

 

I currently drive here and have for the past 11 months if u have any questions call me @ 9313106877

 

which company you drive for Floyd Rex Kordun Or Windy I know they all use Floyd Mc# to book loads