Looking to get into a lease purchase with US Xpress good/bad idea

Thanks I have orientation Monday but I’m thinking about this privately owned company

 

Are you still will us xpress? How is it going?

 

Lease purchase is a bad Idea. Bascially you're paying their insurance, truck note fuel, permits..etc,etc.... I did some research cause I thought about doing it myself. Basically 85% of drivers who do the lease purchase program fail.
Before you decide to go ahead and do this. Ask yourself and the company. How many miles do you have to drive just to break even. Chances are you won't get a clear answer so it's best to get your calculator out and figure it out yourself....

 

I go for orientation this Tuesday for the L/P with usx. With the new L/P program its a walk away type thing where if it isn't a good fix for you, you can simply walk away from it and go right back into being a company driver for them. Its a win-win type situation really. If you don't like it you simply walk away with out any issues or if you like it and are successful at it, you own the truck in 4 years. If you do the L/P look into creating your own LLC with it for tax purposes. Remember, you are leasing a truck from a company and will be hauling their freight. You will pay the expenses (I.e. fuel, repairs, etc.) Tolls and insurance are included in your weekly payments. My Dad just started this program and he made $15,550 his first week! After his payments were deducted and his expenses for the truck were paid he brought home $8,000 for one week. Also keep in mind that you are responsible for paying your own taxes to Uncle Sam. Usx will not deduct taxes from your pay...remember, you are a business owner when you are a Lease Operator!

 

Brb, going to make some popcorn...

 

Your dad just started with the US Xpress Lease programmaking that much?

 

They advertise 1.00 to 2.00 dollars a mile. Even if he was hitting 2.00 every load and it was drop and hook and got 4300 miles in ( approx 66hrs @65mph average) drive time and add in On Duty Not Driving time your at about 70hrs.
So 8600.00 gross on a nearly perfect week.
So I hope you have some of them tall boots on cause it's pretty deep in here, lol

 

Ya I was thinking something smelled a little fishy.

Would you recommend another leasing program?

 

No!

 

I guess I set myself up for that one huh