My numbers as an O/O leased to Crete

It costs me at total of $840 a year to have a CPA do my taxes. The CPA is recommended by Crete, but not affiliated with Crete. Anyone can use his services.

Until I became an O/O I too did my own taxes. However, after reading the IRS publication on depreciation of equpment my head was swimming. Also, most O/O's I interviewed (I interviewed more than 50 over the years and only a few that were leased to Crete) told me to never do my own taxes once I did decied to make the leap. Since the CPA fee is a cost of doing business and tax deductable it's not a financial burden.

As for leasing to Shaffer, why? With Crete I have a higher % of d/h, and can usually tcall an unproductive load. This allows me to keep the wheels rolling and making money. Not to mention I don't have to listen to a noisy reffer, or run out of route for a washout, or worry about down time when the reffer unit breaks down.

I know I'm not getting rich as a leased O/O at Crete, but from what I've read on other threads, I'm not doing too bad either. At leaset I ain't going broke! I've talked to numerous O/O's on % plans at Landstar and others in the dry van segment, and when we compare NET INCOME, I've done as well or better than they have. Plus, I don't have as many headachs as they do.

While home over my CHRISTmas vacation I spoke to some brokers that deal mostly with Texas freight. My thought was to try hauling intrastate freight so I could be home a little more. Unfortunately, they all said freight rates all over TX sucked. So guess I'll stick it out here at Crete.

Oh my fuel mileage, avg. is 6.5 mpg. This includes my idle time, which is currently at 19.29% for the year. When it's to hot or cold I do idle my truck. The ICON feature (optimize idle on Detroits) on the Cummins helps minimize the idle time.

I'll continue the updates later.

 

Go back and reread what happened to ET while pulling that reffer load, and what happened to him after he got empty. So, no thanks to pulling Shaffer loads. Even though things are slow on the dry van side, I still prefer to wait.

 

I bet the suspense is killing you.

 

John, following you will find your August 2008 monthly financial statement.

In looking at the August financials, you are showing a Net Profit of $40,750 for
the year-to-date period. This comes out to $0.407 cents per mile and is based
on 100,072 paid miles. You are averaging 12,509 paid miles per month this year
compared with 12,586 monthly miles you averaged last year. You were out on
the road 224 days through the end of August 2008 (92% in service) and
averaged 447 miles for each day you were out.

Your maintenance expense for the first eight months of 2008 was $6,336 or
$0.063 cpm and your tractor supplies expense was $250 or $0.002 cpm.

Together your variable tractor expenses remain right in line with expectations.
Fuel costs averaged $0.595 cpm less fuel surcharge reimbursements of $0.452.
This results in a net fuel cost of $0.143 which continues to be a very good net​

fuel cost.

 

John, following you will find your September 2008 monthly financial statement.

In looking at the September financials, you are showing a Net Profit of $47,408 for the year-to-date period. This comes out to $0.421 cents per mile and is based on 112,481 paid miles. You are averaging 12,498 paid miles per month this year compared with 12,586 monthly miles you averaged last year. You were out on the road 254 days through the end of September 2008 (93% in service) and averaged 443 miles for each day you were out.

Your maintenance expense for the first nine months of 2008 was $6,478 or
$0.058 cpm and your tractor supplies expense was $322 or $0.003 cpm.
Together your variable tractor expenses remain right in line with expectations.

Fuel costs averaged $0.591 cpm less fuel surcharge reimbursements of $0.451. This results in a net fuel cost of $0.140 which continues to be a very good fuel cost.

Not getting rich, but I am remaining profitable, even after taxes and maintainance. My cents per mile is lower due to the increase in maintainance costs this year. Nothing major, just normal wear and tear. Since I was able to save a good chunk of change in a maintainance account, this is not a problem. ​