Is The Maverick Lease Program Any Good

Not to belabor company vs I/C debate. But, there is major glaring error in the expenses for both. The tax estimate is against the gross and should be against the net after expenses.

The company driver's after taxes take will be $23,375. The I/Cs net after taxes will be $20,874.

Also it isn't clear whether the I/C statement accounts for the fuel surcharge in the income. If so then the $1.15 in revenue is short by about 3 to 4 cents or another $3000 to $4000 in annual revenue. This would bring the I/C in line with a company driver.

Let's try something a little different. As a company driver, you're running solo for 100,000 miles at $.34. You never get more than that. You can run team, but the company will split the comp between you and your co-driver.

Now let's hire that company driver on to the I/C truck as a second seat and give him a pay bump to $.20 for all miles run. Run team and double the mileage. Let's see how this works out.

• Owner Operator: Profit and Loss - Based on 200,000 miles per year
• Compensation : $1.15 per mile = Driver's Gross income - $230,000
• Truck Payment # 1,333.35/month = Annual Cost - $16,000.20
• Collision/Comp. Insurance = Annual Cost - $6300
• Bobtail Insurance = Annual Cost - $804
• Licenses = Annual Cost - $1,835
• Permits = Annual Cost - $525
• Accounting Services = Annual Cost - $725
• Tractor Fuel = Annual Cost - $78,794.12
• Truck Wash = Annual Cost - $701
• Telephone = Annual Cost - $1,624
• Meals = Annual Cost - $6500
• Tolls = Annual Estimated Cost - $2,550
• Taxes (Road, Use, Fuel) - $3,510
• Taxes (Personal # 15% on net income after expenses) - Annual Cost - $8,644.75
• Misc. Expenses - Annual Cost - $500
• Maintenance # .06¢ per mile = Annual Cost - $12,000
• Contract second seat at $.20 per mile = Annual Cost - $40,000
• Total Income to Owner Operator = $230,000
• Total Cost of Operation = $181,013.07
• Owner Operator NET annual income = $48,986.93
• Owner Operator NET weekly income = $942.06

Still only driving 1666.66 hours a year, but the hourly rate is up $29.39. This doesn't include the $6000 to $8000 in income for the fuel rebate not being accounted for.

 

I guess company drivers don't eat while they are on the road? I guess company drivers don't use cell phones? Please make this comparison fair. It is strongly biased to show company drivers fairing better than IC's. Company drivers have many expenses you don't list here.

 

and who pays 7100 for bobtail and collison/comp.

 

I have a question about this. Now if your an O/Op and you only run 100K miles a year and are trying to make a good living your not running hard at all. Now say you take off a total of 4 weeks off per year that puts your mileage per week at an average of 2083 miles. Now if your an O/Op and you only average 1.15 a mile your working for peanuts. I know when I get my own truck it wont be moving for anything under 1.75 a mile unless its something short and still well paying that gets me in a better freight lane for a better paying load.

Now bump it up a little bit to 3,000 miles a week for those 48 weeks a year. Thats 144K miles at an average of 1.75 a mile comes out to $252,000 a year.

1.15 a mile.... I wouldnt work in a big truck for that. You can buy a pickup and a 2 car trailer and make that no problem with better mileage, cheaper ins, cheaper tolls, less and some states no road/fuel tax, and much much cheaper licenses.

Why would you figure it in at such low milage and peanuts for pay???

 

Im kinda jumping into this a little late but I'll definitely say the lease is good and you can make good to great money depending on your work ethic or you can lose your ### if you like not to work. I have been at Maverick almost 8yrs and most of that as a lease driver. Im on my second lease,now I couldve bought my truck out when I finished my first lease I just prefer leasing from the tax standpoint and if something comes up I can walk away. If you ever see me on at a yard or on the road I drive on of those blue kw's. Pm and I'll give you my truck number. I run steady and legal and right now Im averaging a profit(after all truck expenses) of .53cpm. If you dont mind the northeast or canada then glass really pays well so your profit could be more than what I make. Ive seen lots of glass loads paying in excess of $3/mi

 

Thank you for the truth . Hope you have a great new year.