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Lease purchase mileage or percentage
Discussion in 'Lease Purchase Trucking Forum' started by ethridge, Aug 30, 2019.
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I'm not expecting it to be the lottery, also I do have some finances just not as much as ai would like. I honestly dont know how much I should have in the bank before ai start this but I'm thinking 5k ought to do it. If I can ever save itJonJon78 Thanks this. -
ccBuckeye Thanks this.
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1. Why don’t you model the trucking companies?
2. You have to separate funds as a true business. If you can’t do that, you won’t survive. Ex....
Profit First Model
1. Revenue- 100%(what your company gets settlements in) distribute money on the 1st and 15th
2. Profit- 10%(different Bank/ Bonus to owner every quarter)
3. Owners Pay- 40%(Company writes the checks to you)
4. Tax- 15% (pay taxes from this account at end of year)
5. Operating Expense- 35% ( pay maintenance, bills, anything for trucking company)
Percentages changes as your trucking company makes more revenue....ccBuckeye Thanks this. -
I completed a 4-year lease purchase on mileage pay and I've run mileage and percentage since then. As an owner-operator (notice the difference) I prefer percentage pay under most circumstances. Mileage will generally be more consistent, income-wise, and is easier to budget for.
I started in the trucking industry in 2006 and it has been my observation that the primary determining factor for success for those choosing the lease purchase route isn't mileage vs percentage, van vs reefer or regional vs 48 state but prior successful business experience. If you know how to run a business outside the trucking industry my money would be on you as a success inside the industry.
I documented my journey in a blog over 1,100 posts and when I finished my net, before taxes, was just over $260k and the truck I leased being paid off. I included a spreadsheet with the numbers from every one of my settlements that detailed my progress over the years. There is a link to the site in my profile if you are curious.
Good luck,
JimccBuckeye and Seattle206 Thank this. -
I need to clear the term lease purchase out of my head. As it goes right along with insanity.
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I am interested to know about it to
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5k might be a little lite
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Lease purchase 1300+ a week. no equity cant move truck if company not working out. Aka lose your shirt. Then come on here or youtube saying STAY AWAY from ______^____^ I never got paid. These companies love people with low self expectations. Now let's go to the Boss
Ownership 1400 a month. equity in your truck. Lease or get authority make money. I CANT UNDERSTAND WHY WOULD A PERSON FORGO ALL THE STRESS OF LEASE PURCHASE BECAUSE THEY HAVE BAD CREDIT. AFTER LEASE PURCHASE YOU NOW HAVE BAD HEALTH, BAD CREDIT, BAD EXPERIENCE , NO TRUCK , NONE OF THE ESCROW MONIES, AND BAD THINGS TO SAY AND WRITE. LEASE PURCHASE DESTROYS MORE LIVES THAN HELP. YOU KNOW HOW YOU HELP YOUR FAMILY PICK THE BEST JOBS SAVE YOUR MONEY AND BUY OR FINANCE YOUR TRUCK. -
The purpose of a lease is to relieve companies of taxes and medical benefits increasing their profits. All companies make money off the backs of Truckers. A lease program will make you the same as a company driver after taxes . Meanwhile companies go home everynight praying you fail. Because that truck has trade in value to purchase newer equip . Rinse and repeat
Jarhed1964, jamespmack and JonJon78 Thank this.
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