My experience in Prime's lease program so far.

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What is that app?

 

I don't know what app they use, but I'm also a lease op at Prime and I am in several prime Facebook groups. They're both helpful and entertaining.

 

Very much so correct. As a Prime driver I have literally been called my truck number, to which my reply would include thank you, then my name. I made 50000 my first year as a prime company driver. I lose money because I'm still paying out of pocket for some expenses and I cant claim them on my taxes. So I'm going to try lease but not as a long term goal. I just want to see how much money I can earn since I did over average as company. I plan on going home. I dont care what people say. I went home as a company driver and made 50000. I can go home lease and still be profitable. I'm not moving into my truck like a homeless divorced dad. I am NOT homeless. I have a boyfriend, children and elderly parents. They can see me succeed in a healthy way or it will be ME outing them as unhealthy. After that I'm buying a small farm and choosing to homestead because I think the trucking industry could very well tank the economy. Plus I like humane treatment of animals. I play with my food. What can I say?

 

Ohh my goodness. You are a top-poster! We get to read your response and try and figure out what you are going on about before we see the quoted material you were responding to.

We just see you post, and you going off on some tangent about whatever, and then after it's all over we get to see what you were replying about. Why does that make sense to you?

 

I was a lease for 2 1/2 years before they forced me out so I’ll be as straight as I can. The moment you build enough money in the lease bonus, they’ll look to let you go the moment you have an accident that’s not really your fault. So let’s say you slide off the road due to ice when you drove into bad weather you couldn’t predict, they’ll make you sign a voluntary walk away. I had almost 20k saved up for my lease bonus so that wasn’t a coincidence. I understand that my driving record wasn’t perfect but that was my only dot recordable in over 7 years.

Another thing are the tax deductibles. I payed over $25k in one year and still owed 8k the next year. Every tax deduction was written down but I don’t think they deduct every number. I’m assuming they do that because the government doesn’t want to see a company making so much money and having so many deductions. It’s either that or my purchases weren’t viewed as necessary as I was writing down. A good example of this would be hotel rooms when your truck isn’t in the shop. The class I took to understand the finances made it sound so optimistic that everything on the list is deductible and you’ll have the time of your life.

Speaking of that class, when they say save 20-30 percent of your earnings, put 30 all the time. Trust me. You don’t want to owe 8k despite paying your quarters in full.

Overall, unless you get the lease bonus after three years, the extra 5k a year for all you are responsible for in case something happens isn’t worth it. If you are fortunate enough to make it through with no Knick Knacks against you, you can live a wealthy enough life. Just know, it’s basically sprinkles on top of the ice cream when you actually get the extra money. The great news, you can set yourself up to finance, which when you finish that, you won’t have any lease payments anymore. That would be amazing but you would most definitely put a lot more tax money away and be reasonable.

 

Fact is people stand that you don't owe IRS as a company driver like everyone owes the IRS taxes W2 employee or 1099 employee you work you owe taxes. only thing is W2 withhold taxes for you if you can not manage to withhold your own taxes and make quarterly tax payments like a business owner you should not lease...