My lease adventure

2016 Pete 579

 

This is my second one and I loved both of them. I have already put 90k on this truck since Feb. and have only had two breakdowns which was covered under warranty. The only parts I have had to replace on the truck was the accessory belts and tensioners at 295K. The only negative I have noticed is the trucks are gutless but so are most of the trucks today. Just way tuned down and emissions choking them. It is a comfortable ride, but the turning radius is not great just need to get used to. All in all they are well rounded trucks and reliable IMO. The first upgrade you will want to do is put in a aftermarket seat. The factory seats are hard as #$%^ unless they come with the upgraded seats.

 

my numbers are in for a total of 10 months this year. So the question is how did I do. Well I was a success this year IMO.

Gross revenue = $170,484
Expenses = $107,260
Net profit = $ 63,224

Here is the mileage breakdown for those who want to see it.

Mileage = 87010

Gross = $1.96
Expenses = $1.23
Profit = # .73

Now this is before taxes and I will update once that is in but at this point I made double as a lease driver then I did as a company driver for this company last year. The company I work for is based in Oregon and runs the I5 corridor for the majority of their freight. I have learned a lot this last year and am looking forward to another good year for 2019. I have some big plans to increase all of these numbers for next year so wish me luck on achieving those goals. I can increase my revenue by 10% if I have my own trailer so that is the next thing to work on.

People like to put all lease programs in a category of "don't do it" but I am here to tell you it can be done if you do your research and find the right company. Don't let the neigh sayers get you down and do what you can to achieve your goals. Just remember every trucking company started with one truck and grew from there. Leasing is just one way to achieve the goal of owning a truck and it can be done with hard work, planning, and luck. ​

 

I just got the tax bill for last year. It came out to $ 7,550. So if you deduct that from my net that means my total profit to my business was $55,674. Just goes to show you the saying is true O/O's don't do it for the money they do it for the freedom. So I know this is not more then company pay. But lets run the numbers.

For a company driver to net the same amount as me they would have to gross $62,355 a year based on the 12% tax rate. Now I know there are places where that level of income is achievable, but here is the thing. How many get you home every weekend and will allow you to take basically a month off through out the year while still achieving that level of income. Most likely not many.

 

None. My accountant was the one who did it up for me. My first accountant was giving me that figure quarterly so I think I got a deal lol.