NEW LEASE OPERATOR UPDATE - 1st post 4/18/13

Popeye, you are more than welcome. I will defend all of us L/O that are on this board against all of the naysayers.

 

I'm on the outside looking in, I started my driving experience with Swift 9 years ago, and while the school itself did the job of getting my CDL, my trainer was less than desireable...I didn't even know I could have requested to transfer to another...that nonwithstanding, I have jumped around a little bit, completed a Lease with another company (as a trainer) and am currently pulling heavy Iron loads regularly.
I commend anyone who takes the plunge into a L/O or O/O.
Now that I am at a point where I feel there is "something more" I am getting the itch to jump into the L/O seat again and maybe start mentoring. (I want to do a better job than mine did for me)

Can someone come in from the outside and get into a Lease truck? Or do I have to go company first to become reaquainted with SWIFT rules and Reg?

 

In a word yes ... the kicker is the down payment. You can pay it out of pocket and get right into a truck. Or, you can drive a company truck or run as a second seat with an O/O for 30 days and put in at least 10K in miles - 20K team - to qualify for an IEL financed down payment.

 

Wow, thats really awesome! Congrats to you. Just wait, it gets better when your performance bond is paid in full and thats an extra $50/wk going into your pocket.

I do have one question, why did you get charged from the shop for repairs? Didn't you get a 30 day shake down on anything you find wrong with the truck? Just curious.

 

Posted this awhile ago, just food for thought.
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These numbers are based on 2012 lease perchance hand book, all numbers are subject to change.


2012 Cascadia Weekly Fixed Expensives
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Truck Payment:.....................$542


Collision insurance:................$63.25


Bobtail insurance: .................$5.77


Occ/Acc insurance:.............$32.31


Qual com rental: ...................$20.00


Heavy Highway Tax: ...........$15.00


Maintenance account: ........$.10 added on @ end of settlement


Wind shield wipers: ...............$ 2.50


Oil: ..........................................$3.00


Food:.......................................$100


Clothes:..................................$2.00


Laundry:.................................$8.00


Cleaning supplies:.................$2.00


Xm radio:...............................$4.50


Prepass................................$20.00
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Subtotal: $820.33






Total weekly miles: 2700


Total miles per run: 900 (paid miles)


FSC: .43


Truck miles per gallon: 7.3 (going 65 mph)




Please correct me if my math is wrong here or if I am leaving something out.


900 / 7.3= 123.30 gallons need for trip.


900x .434= $390.60 (FSC)


123.30 x 3.62 =. $446.346 Total fuel cost without FSC (apx)


446.35 -390.60= $55.75 Total fuel cost with FSC


900 x .92 = $828


828 - 55.75= $772.25 gross profit ( before I take out for taxes)


Now if I do this trip two more times my total settlement for the week (before swifts cut)


$2,316.75 gross income for week




$2316.75 - $820.33 = $1496.42 (income after truck payment)


900x .10 = $90 ( .10 per mile per trip for maintenance)


90 x 3= $ 270 (total for maintenance)


1496.42 - 270 = $1226.42


1226.42x 30% = 367.93( taxes)


1226.42 - 367.93 = 858.49 (what i keep per settlement after taxes, fuel, and payment)
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I should point out that the 30% can be lowered by a bit due to all the write offs that will occur during the week/month/year.

saving 15% from your base should be fine. Just pay the tax out of your regular/llc account.

 

I had a metric to of crap to say, but I'm not. If you are happy and this is working for you them my hat is off to you and I wish you success and happiness! Thank you for posting about this and I look forward to reading more of your successes.

 

$0.82 + $0.434 * 2700 = $3385.8
minus fixed truck overhead $820.33
minus fuel at 2700 / 7.3 * $3.62 = $1339.04 =
$1226.43 driver's settlement
$270 driver's maintenance account

I have found this is an easier way to bring it all together rather than breaking out the fuel surcharge and re-factoring it back in. But as you can see we are within $0.01 on our calculation, although I got lost where you posted the $1638 number.

Keep in mind your maintenance account is taxable income as well. To mitigate that, try to reinvest your maintenance account money into the truck and it will then be a tax write-off.