Lease Purchase

Don't do it. Unless you 10,000 in the bank to back you up. Your not a company driver any more. If it breaks YOU pay for it. I drove my Freightliner off the lot to the Lease company. I worked there anyway. They let me drive it two years, and wanted to sell it. Give me a new one. I made a killer deal, and it's mine ever sense. Can it be done? Yep.

 

If your getting paid a percentage of the line haul revenue, your costs seem about average. It looks as thought you'll be working under your authority. You will at least have a say so in how you want to live your life.

 

Numbers look good for budget. A lot missing but budgeting high on expenses and low on revenue gives you room for error.

- Insurance seems very high unless it is all in.
- Trailer all depends on what it is.
- IFTA - good to put some aside so you don't get surprised. Learn how IFTA really works. I know drivers that are paying it and clueless about how it works. You are going to pay the tax so why not focus on best fuel price and maybe pay some at the end of quarter.
- Escrows are the areas that most people get taken advantage of.

Now the really bad part. Are you driving to support your life or is driving your life. Those miles not only don't leave room for a life but will take life away from you. And the rate is low but they have to give you the high miles so that you can afford all this.

Still a lot missing but would say you are going to have a better situation running as a company driver, saving and looking for a situation that allows you to get better paying miles so you can run less miles.

Regardless, run the numbers at an average weekly miles of less that 2,700 based on 46-48 weeks a year. If they won't work (and I suspect they won't) then don't do it.

 

trailer rental is usually weekly payments, right? And I know guys who are paying $900 a week (or more) truck payment. So those estimates are probally average considering a few extra fees not noted in that draft.