Lease/purchase....How do they do it?

Common practice in private fleet sir. ( co. driver ) Even though you won't likely handle money your credit tells them how you handle your personal life and if what they are wanting to pay you will be enough to meet your needs.

EG: Say their offering 35k but your coming off a job where you made 60k and have bills like that, well you won't be happy at 35k and will leave and cost them money....so it's better to not hire the candidate.

When you authorize DAC, you have allowed DAC and or the carrier to pull your credit ( called a consumer report ) ....and some do, but most don't.

I've had one carrier call me prior to hire to ask if I could "live" with their offer.

JME

 

Landstar is strictly o/o power only. There's no 'salary' and no 'offer'.

 

You don't count fuel surcharge? .48-50 cpm extra.

Some companies pay the base plates, permits, ez pass, pre pass, discount at the pump, etc. You don't need to have your authority to run with Megatrux, Celadon or Landstar for that matter.
Yeah, you are not going to see 2 k paychecks after putting away 20-25% for taxes, but to say that you will brake even, while making 98 cpm, it's far from the reality.

Here is .84 cpm+ furl surcharge for a team. It's a dedicated account and that is why they pay only .84 cpm. As you can see, it's possible not to break even.


Tractor# L7822

========= Pro# 4547540 - 000 Dispatch Date 3/28/12 =================
Tractor Origin N LAS VEGAS NV
Origin CARSON CA 282
Pickup CY OF INDUSTRY CA 29
Stop Off EVANSVILLE IN 1966
Pickup EVANSVILLE IN
Stop Off PITTSTON PA 753
Pickup PITTSTON PA
Stop Off HUMBLE TX 1552
Pickup HOUSTON TX 19
Pickup GLENDALE AZ 1149
Pickup SAN LUIS ,YU AZ 212
Destination SAN PEDRO CA 301
Revenue
Loaded Miles 5981 @ .84000 5024.04
Empty Miles 282 @ .84000 236.88
______ __________ __________
Mileage Totals 6263 5260.92 .00

Fuel/Road Use Tax 6263 @ .01000- 62.63-
Maintenance Reserve 6263 @ .05000- 313.15-
NEW TIRE LEASE 6263 @ .02000- 125.26-
Stop Pay 6263 @ 1.00000 80.00
Fuel Surcharge 6263 @ .47000 2943.61
__________ __________
Total Other Revenue 2835.72 313.15-

Adjustments/Deductions
Fuel-Lease Operator 439.23- N LAS VEGAS NV 3/28/12
Qty in Gal... 107.753 PILOT OIL #341 Tm: 2:16
Pump Price... 4.2990 Owner PPG..... 4.0670
Service Charge 1.00
Fuel-Lease Operator 505.47- BELLEMONT AZ 3/29/12
Qty in Gal... 123.706 PILOT OIL #180 Tm: 8:42
Pump Price... 4.3390 Owner PPG..... 4.0780
Service Charge 1.00
Fuel-Lease Operator 372.12- OKLAHOMA CY OK 3/30/12















Qty in Gal... 100.547 PILOT OIL #460 Tm: 1:30
Pump Price... 3.9590 Owner PPG..... 3.6910
Service Charge 1.00
Fuel-Lease Operator 437.23- LEAVENWORTH IN 3/30/12
Qty in Gal... 113.750 PILOT OIL #478 Tm: 20:07
Pump Price... 3.9990 Owner PPG..... 3.8350
Service Charge 1.00
Fuel-Lease Operator 518.78- CARLISLE PA 3/31/12
Qty in Gal... 130.193 FLYING J-PILOT #708 Tm: 21:50
Pump Price... 4.3390 Owner PPG..... 3.9770
Service Charge 1.00
Fuel-Lease Operator 281.96- KNOXVILLE TN 4/01/12
Qty in Gal... 74.942 PILOT OIL #270 Tm: 9:21
Pump Price... 3.9890 Owner PPG..... 3.7490
Service Charge 1.00
Fuel-Lease Operator 96.10- DENHAM SPRS LA 4/01/12
Qty in Gal... 25.265 PILOT OIL #079 Tm: 22:22
Pump Price... 3.9990 Owner PPG..... 3.7641
Service Charge 1.00
Fuel-Lease Operator 411.07- BAYTOWN TX 4/02/12
Qty in Gal... 108.945 FLYING J-PILOT #725 Tm: 4:08
Pump Price... 4.0390 Owner PPG..... 3.7640
Service Charge 1.00
Fuel-Lease Operator 496.86- EL PASO TX 4/03/12
Qty in Gal... 127.045 FLYING J-PILOT #728 Tm: 2:26
Pump Price... 4.0990 Owner PPG..... 3.9030
Service Charge 1.00
Fuel-Lease Operator 299.47- YUMA AZ 4/03/12
Qty in Gal... 74.824 LOVE'S #349 Tm: 22:00
Pump Price... 4.2490 Owner PPG..... 3.9890
Service Charge 1.00
__________
Total Adjustments/Deductions 3858.29-

Other Adjustments
Date Transaction # Driver ID ----Description---- Amount
4/06/12 BOBTAIL PLUS INS BOBTAIL PLUS 7.42-
4/06/12 BOBTAIL INS BOBTAIL INSURANCE 7.65-
12/28/11 11001531241 fines, Drivers 75.00-
4/06/12 FHUT 2290 HEAVY VEHICLE USE TX 10.58-
5/10/11 LEASE PAYMENT LEASE AGREEMENT 657.36-
4/06/12 PHYSICAL DAMAGE PHYSICAL DAMAGE INS. 87.73-
4/06/12 SATCOM Satcom 17.50-
4/06/12 ATBS American Truck Tax 7.50-
4/06/12 OC/AC INS OCCUPATIONAL/ACC. 37.62-
4/06/12 OC/AC INS OCCUPATIONAL/ACC. 37.62-
__________
Total Adjustments 945.98-


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Check # D 816251 Direct Deposit 2979.22

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I understand that some companies may want to pull a credit report on potential employees. I think that it is too easy for anyone to pull a credit report on others. Unless you are applying for credit I don't think that anyone should be able to access your credit file. If having good credit was critical to driving a truck, half of them would not have a job. Besides, with the economy we have had the last several years, many who had excellent credit no longer do.

 

I am in a lease purchase and I do very well. Some people on here insist I am going broke though for some reason. If that was the case why did I have to pay almost $13,000 to the IRS and $2500 to Indiana for income taxes? I guess those same people don't know as much as they think they do.

 

Bigkid, you need a better CPA

 

THE ONLY reason your doing so well is that you recruit here, and every driver you recruit adds a few cents per mile to your rate. You've got quite a few which means your doing pretty well compared to those guys you recruited at the bottom of the pyramid.

 

6263 miles * .48 cpm = 3,006 dollars
So this team would earn more as a company team, and not have to pay self employment tax, get benefits, have NO RISK, etc. Pretty dumb if you ask me!

 

Well. There were certain benefits attached to it. Like being home once a week, same dedicated line, etc. I agree that .48 cpm teams can make the same thing, but certain things, at least with USX, lease drivers had advantage. I did not want to go to company team, because of hazmat and messed up 300-400 miles repowers.
But again, this was about not making it or breaking it even.

Why did I say advantages in the past form? Well, a few days ago they stopped paying majority of stops in our account. 2 paid stops out of 7 is not gonna work. On top, there is no 1 year walk away lease for new trucks for teams and other little things. So we are out of there next month and don't even mention company team business.

 

So let me ask you a dumb question, fortycalglock. Why are you BCO, and giving them 35 to 25 %, if you could go independent? As I realize, the board at landstar is not really great and you have to develop your contacts anyway, right?