Need Advice ASAP. Own 2 trucks that are in a Lease Management Program...

I own 2 International Prostar Sleepers, and we have put them in a Lease Management Program. We cover the payments on the trucks, as well as maintenance, insurance, etc. We have hired drivers to run the trucks. The "Management" company is in charge of the freight and dispatch. The management company provides us with a settlement report each week, but they are only including the Driver Summaries (the amount they are paying the driver for each run) in our settlement report. I just know something is NOT right about this, because we have been told every week that we are going more and more negative, instead of making any profit. The drivers on the other hand are bringing home $1200 at minimum a week. Again, we are the ones paying the notes on these trucks, so am I wrong to question this? On each report it also shows the drivers are being payed a fuel surcharge for each run.We are being charged for all of this fuel, why are the drivers being reimbursed? Shouldn't the reimbursement for fuel be going to us?

Any help would be GREATLY appreciated. We have truck payments coming up in the next couple of weeks and haven't made a dime on either one of our trucks.

 

Obviously you're being scammed. Time to terminate a couple of drivers and leases immediately then re-think what you are doing. What experience do you have in transportation? Two trucks is barely enough to support one person who happens to drive one and cover wages, expenses, eeek out small profit if managed well on the extra truck. In most cases it's a big money loser especially if you aren't hands on managing. Why in the world would you allow someone else to "manage" your trucks? This is trucking not rental property.

 

How many cents per Mi. are the drivers being paid with your fuel $ going on their CK?

 

Seriously? Are you for real??!?!????

Wow......Just......WOW!!!


If I say anything else I'll get the Banhammer for sure. Anyhoo.....Good luck with that OP.....

 

Is this the new definition of naive or foolhardy? I cannot believe what I just read. Holy cow!

 

Sure hope you never bought vending machines and then let the company place them and service them..What you have done is pretty dumb,,you got suckered,,

 

Wow... As others stated. I would sell both trucks today, in an heartbeat. Also, I bet that management company recommended those drivers.

 

A fool and his money are soon parted. Yep

 

The man asked for advice not insults. I'm not an o\o but you're drivers shouldn't be getting the fuel surcharge. I've owned 2 businesses started from the ground up. I made money for 10 yrs and then profited more when I sold out. You have to be in touch with your drivers everyday. You should be in touch with this management company requesting all documentation they have on your account. You need to stay on top of this everyday or sell the equipment . I'm currently employed but if the deal was right I could supply you with year round loads and 2 drivers. Myself and a friend. I hope this helps some.

 

how much does the management company get paid ?