Lease Purchase through (insert company here) is bad!

I took home $2645 on 2600 miles this week so I guess I took home 2.5 times what you did on the same miles. I guess I am just one of those suckers you are talking about that you really don't know anything at all about. Plus I am paying Towards a truck where I will get the title on top of that. You said you researched it but you were looking at the wrong companies.

 

Surely you know what "took home" means.

 

It's not wild eyed it's wide eyed, did you miss the fine print on that one? I don't know how the whole lease purchase thing works, I'm not on one. There seems to be plenty of people commenting as to how they are making it. You have allot of assumptions when it comes to your "theory". From what I have read some companies pay percentage not just miles. But for ha ha's, I'll play along with your numbers. $2760gross/week not including fuel surcharge on 3000 miles. I think in your "wild eyed" calculations you missed a very key number such as a fuel surcharge. Any company posting $.92/mile is also stating + fuel surcharge, fuel is that stuff used to make a truck go. So basically you have shown your cards with your post, YOU HAVE NO CLUE!! Lets assume a $.52/mile surcharge & that's from one of the cheapest companies out there. Lets also assume a pretty big discount off pump price then get back to me with some better numbers. So it turns out maybe Joseph doesn't know everything.

 

Percentage
70% of 100% of the line haul plus 100% of fuel surcharge pass through plus 100% of accessorial (detention, driver assist, ECT) On all loaded miles. line haul is averaging $1.26 a mile and the fuel is averaging $0.52 cents per mile. Making the average loaded rate $1.78 per Mile

Current program offerings include:

• Maintain your own operating authority - this is not a lease, you can add or remove trucks as needed. Try it for a few weeks and see if you like it. Some carriers only may run with us 3 weeks or 3 months out of the year and some just leave trucks with us year round. We are pretty flexible.
• Quick Pay , speed up your payments, as quickly as 48 hours or less after load completion.
• Cash Advance options, receive %50 of the pay up front and receive an $0.10 per gallon fuel discount on your advance!
• Utilize our vast customer base consisting of many Fortune 500 companies
• 80% preloaded trailers.
• 60% drop and hook delivery.
• 100% no touch freight.
• 24 hour support group on call for you.
• No trailer maintenance. We provide the trailers and maintain them free of charge! This is at no cost to your company.
• No truck requirements or equipment to install on your truck.
• No brokers or loadboards, just one direct contact with
  
• Consistent freight all the way around, no worrying about finding back-hauls.
• No forced dispatch.

Joseph,

Now this isn't even a lease purchase, so no fuel discount. Not great pay but I guarantee it's more than you will net my friend!!

 

That is money to my bank after fuel, truck payment, plates, insurance and .07 per mile is already taken out for my maintenance fund. I own the truck at the end and it is a 2010 Kenworth T660 that came with an APU. It had 104,000 miles on it when I got it.

Sure punches a lot of holes in your theory huh Mr Knowitall? I have cleared over $40,000 after those expenses I mentioned above this year already. You should stick to being a company driver because that's all you really know.

 

Still though, a fair question would be "How much of the 40K is recruiting money?', such as you mentioned in a previous post? This would put your actual working earnings in perspective.

Just curious, though you're certainly doing well regardless.

 

I honestly don't have the answer to that question. I don't separate the numbers.

 

I clear about what I did when I was a company driver. When the truck is paid off that will increase by $480 a week. The net will be reduced by increases in taxes and maintenance. The other side is that at that point I and my truck will be moving to a percentage based company where I can also select my own loads. This should increase the income side of the equation.