Leasing at Prime

Discussion in 'Prime' started by ironpony, Jun 25, 2012.

  1. Rollin_18

    Rollin_18 Light Load Member

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    Cleveland, Ohio
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    I hate the lease haters. They try to shoot you down and tell you can't do it, I think they are just scared to try lol but I can see a lot of people failing cause they are not thinking about it as a business, leasing is like owning a business. I think iron pony has the best lease thread on here cause of what I read in the first post on here you can tell he has a plan mapped out to the T. Ill read this whole thread but I'm sure it will take some time cause I have two little babies that are spoiled and one is a mamas boy to extreme and cries if he can't look at his mom lol any tips Mr. Iron pony? (I probably already asked that and you probably answered lol)
     
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  3. cl8936

    cl8936 Light Load Member

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    Apr 17, 2009
    St. Louis, MO
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    He said that he hoped they reported to creditors and I was saying that if they did it would add the around $140k cost of the truck as debt.

    I was just answering a question, not trying to discourage anyone from leasing. I started a lease last month.
     
  4. cl8936

    cl8936 Light Load Member

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    Apr 17, 2009
    St. Louis, MO
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    Something else you might consider, most lease operators at Prime don't take a lot of home time, or company drivers for that matter. Might be something to think about if you have small children at home. I wouldn't plan on making it home more than a few days per month.
     
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  5. ironpony

    ironpony Road Train Member

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    You've never bought a house? That's a big debt!
     
  6. cl8936

    cl8936 Light Load Member

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    Apr 17, 2009
    St. Louis, MO
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    Yeah, and try buying a new house with that much debt on ya. :)
     
  7. Rollin_18

    Rollin_18 Light Load Member

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    Dec 6, 2012
    Cleveland, Ohio
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    I was doing some adding on paper and kinda rethinking the lease a little. I did it say worse case I did 3500 miles one week and my truck got 6mpg, that would be bout 500 something gal of fuel cost 2400 without a surcharge, surcharge would probably knock out about 1200 of that. Lets say the gross was was 2600 something and you got the payment and fuel cost. I'm not sure exact numbers but you would only make about 400 that week. Ill post the exact stuff I put later. On a good week with only 2500 miles you make some money on the other hand. Ill have to repost numbers later cause this probably ain't making any sense.
     
  8. ironpony

    ironpony Road Train Member

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    No way you're going to make any money at 6mpg. You need to work on your technique until you're better than 7.
    That's part of your gross revenue... it doesn't knock anything out you still used too much fuel.
    On 3500 miles? That's beyond insane. If that's all you're getting - 74cpm - you need a different carrier.
    Not worth the trouble for $400 on 3500 miles - you'd be better off flipping burgers for that kind of money.
    You're assumptions are way off. Figure on $1.50 per mile average gross revenue, 7 mpg, and $1300 in fixed costs.
     
  9. Rollin_18

    Rollin_18 Light Load Member

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    Cleveland, Ohio
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    Lol I was hoping I was way off, I was getting kinda scared and sad for a minute. I had the 6mpg as my worse case fuel mileage and was hoping to never hit 3500 miles a week getting paid percent unless I had some high value loads. What's a week or month for you look like mile wise an fuel economy. Ima just trying to figure out what a hell week for me would be and a good week (really I'm just bored and I drive around wasting all my gas cause I live driving so now I got to find something cheap to do and that's write stuff down on paper lol). Would you happen to know what they pay company drivers over there at prime? Ima go company for a year and just wondering how much I could possible make
     
  10. ironpony

    ironpony Road Train Member

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    My suggestion is always 2 or 3 years. 1 year isn't nearly enough to get the experience you need to be successful at this. My truck runs around 7.8 mpg average - that includes cold weather, heavy and light loads. Company guys start out at 41 cpm plus fuel bonus in a lightweight truck. BTW... I average around 2400 miles per week. You asked about negative settlements? You can get hundreds in the hole real quickly by not getting a load scanned or having something deliver past cutoff. I suppose the worst was around 2000-ish when my turbo went out - 2 weeks at Christmas, but dealer downtime reimbursement covered most of my truck costs. You still have to have money to cover a motel room and food - taking advances will kill you in a situation like that; of course you loose all of your income when the truck is down. Read the thread from the start!
     
  11. Rollin_18

    Rollin_18 Light Load Member

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    Cleveland, Ohio
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    #### that's really good to start at 41 cents a mile. Yea I was way off on 6mpg and the miles I had. I'm sure all this is probably covered which why I'm about to tackle this bull by the horns. Kids are sleep and so the lady, time to read in the nice and quite calm room with a can of cocacola.
     
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