Leasing at Prime

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

  1. ThatFlatbedGuy2013

    ThatFlatbedGuy2013 Medium Load Member

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    I've been thinking on leasing for Prime for a bit. I leased from my last company before my current and failed. I know what did wrong though...I fell for their lease package. I had a business advising agency watch my finances and over half my expenses was on their stupid .14 cent variable rate per mile. From what I was told though prime has a fixed payment. Is that true?

    From what I understand prime doesn't do that

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  3. ironpony

    ironpony Road Train Member

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    It's a fixed payment set for the model of tractor, and age of the equipment. Most tractors are retired around 3 years, but that goes down with increased miles on the machine. Flatbed and tanker tractors go out to 4 years because of the additional equipment. There is a fixed mileage charge (per mile) and tire escrow account. The rates are fixed though. Basically, fuel is the big cost. Keep the fuel bill down, and you make money. Let it get out of control, and you'll be eating a lot of ramyen! You do need to be in your numbers... hiring a professional just doesn't give you the same insight into how your business is doing.
     
  4. ThatFlatbedGuy2013

    ThatFlatbedGuy2013 Medium Load Member

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    Oh I always eyeballed them. They just tracked it though since I didn't have access to the fleet account deal and since the company I leased from didn't pay full price for fuel. Fuel milage isn't an issue with me. Even with a near 80k load I could still average 7.5 mpg in the mountains going 62 mph. Not bad I suppose though I imagine u guys get closer to 9 only going 57.

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  5. JimmyBones

    JimmyBones Heavy Load Member

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    Baxley, GA
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    Heya Pony.

    I just read through your whole thread, and you've said you're pulling in roughly $1100 weekly.

    My question is, is that money your business is pulling in as revenue (post overhead), or is that the salary that Iron Pony Inc. is paying you?

    If it is salary, what is IP Inc. pulling in?

    I know those numbers are low balled, ballpark estimates, but I am really interested in putting it in perspective. Comparing it, for instance, to the moderately successful small business I ran a few years ago.

    Thanks a heap for all your honest input. Earlier, someone mentioned compiling this into an EBook - I'd like to second the motion. I think that having an industry-specific take on business management straight from the pony's mouth is something that could and should be written and shared.

    -James
     
  6. ThatFlatbedGuy2013

    ThatFlatbedGuy2013 Medium Load Member

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    What is the rate they charge per mile? The .14 I was charged was fixed as well rate wise. I think they called it variable cause the total per week depended on milage.

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  7. Highway101

    Highway101 Road Train Member

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    Good milage there 7.5 mpg in the mountians with 80k. I am lucky to get 8mpg in the flat lands with 78k., and that is at 55mph. Yes I drive for Prime, am driving a 2013 FL Condo. Just went over 50k miles will see if that changes any thing.
     
  8. ThatFlatbedGuy2013

    ThatFlatbedGuy2013 Medium Load Member

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    Depends on the truck. I was in a 2012 Cascadia. They get pretty good mileage even know they are a little heavy

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  9. Highway101

    Highway101 Road Train Member

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    Yeah, My last truck average a little over 8 also a FL Cascadia, Figure this one is just getting broke in.
     
  10. j&jbuck

    j&jbuck Light Load Member

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    wow that changed quick, 2011 I was only offered .36 cpm for flatbed and it was .34 for reefer then. you could make more with the northeast and eco trailers though. I don't pay those guys any attention though, I never learned how to drive a company truck.
     
  11. JimmyBones

    JimmyBones Heavy Load Member

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    Man, IP, missing in action. :p
     
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