L/P assumptions are amusing

Did not know they had changed. Funny they still have a horrible success rate then.

 

Swift had a hybrid program ... You could do house loads at the mileage rate or you could get a load directly from a broker, negotiating your own rate ... Alas Knight killed the program the day they took over ...

 

A horrible success rate at what?

 

Most L/P can’t even tell you (or figure) the cost per mile to operate the truck. Someone explained it to them. Yet they’re supposed to do their own taxes also??

And make a payment every week?!?
Go figure lol

 

Anyone can figure until their face turns blue. Good luck with that. There's ever constant variables.

The first time the guy goes home when something needs to be done to his truck, but he's just too tired, he's well on his way down the yellow brick road to Palookaville.

 

Knight is a bunch of cheapos...frankly o/o better watch there settlement's... i had to sit there and call pay roll every single week because I was missing anywhere from 500 to a $1000 every single week and their excuse was oops it was an honest mistake... Bs...

 

Thing is that saying a lot of L/P drivers fail is like saying drug usage is higher in the ghetto.

L/P drivers aren't exactly the cream of the crop. They're usually newer drivers who can't quality for a bank loan because of a lack of experience, poor credit, and/or a lack of capital. Many of them are still learning to drive, have zero experience running a business, and are trying to rush things and take the first steps towards becoming an O/O too soon. Many L/P drivers lack the experience to fall back on to guide them towards the best results. Some are in unrelated debt they entered the industry with. Far too many lack the financial discipline necessary to run a successful business.

Making irresponsible business decisions is far more common amongst these folks than is elsewhere. I spoke to one last week who had a choice between equipment known to be more reliable and cost efficient and nicer looking equipment. At a time when his business is just getting off the ground and needs financial stability now more than ever he failed to put his business above his personal desires and choose irresponsibly. Now 6 months later mechanical issues with his truck are about to put him out of business.

Some of these folks don't even put the work involved to reading what they signed. I spoke to one this week who didn't even understand crucial information like his warranty simply because he didn't take the time to read it. I'm not sure if he's looking for a carrier to be his business partner or a motherly figure who will read to him.

L/P drivers are also more likely than an actual O/O to lack the will drive and perseverance to pull themselves though hard times of course it's easier give up and quit when you didn't put that much effort into getting into the L/P in the first place. Not to mention that truck driving is a common profession for those who lack education such as a High School Diploma or general financial and business knowledge. Typically folks lack a H.S. Diploma because they have demonstrated past history that they have issues completing projects which require discipline and self application. Point being I'm just not that surprised that L/P drivers have the highest failure rates it actually makes alot of sense.

 

Which says more about the shady companies who knowingly give a lot of these folks the rope to hang themselves with.

 

I actually edited that post and added to it, just didn't feel like it was complete enough.

 

Yes it is.

Equity just means the value of a property less any debts owed against it. That value can go up or down. Where I think you may be confused is that with many trucking company lease purchase plans you have no ownership rights whatsoever until you have made the last payment and paid off the balloon note if there is one. This has nothing to do with the truck depreciating. It is because during the lease period the truck is not yet purchased.