New Prime, Inc. - Springfield, Mo.?

afaik they have new, and used, used being lease trucks that have had there lease terminated.

 

ACE II leases are trucks that Prime sells, but you can take the truck on to other companies (if you are so inclined). $105,000 (what was quoted to me) for a 2007 Century (2006 Detroit 500hp) with a very good option package. With $9,000 down, 10.5 %APR payments over 3 years. Or you can order something else; when I was doing my paperwork there a nuther trucker had them buy him a KW with a cat 475. If he screws up the payments, Prime keeps the truck (just like a bank) and he loses his down payment. All things considered, not a bad deal (if you want to finance it for 3 years). Unless you have a corporation, you only have 4 years to use the truck as a tax deduction, so that is really the only way to go. I have a corp, so I bought my truck from OKC Freightliner (not Prime) and financed for 6 years at 8% APR, that way I can take my tax deduction out past the 4 year period (and lower my monthly payments [$1500 a month]). You can buy one of their used trucks, but they will not do any financing for you. Not an option I would choose.

 

Thanks for the reply, geez, that seems like a large payment (if my math is correct)

$3508 is what I came up with, thats 809 a week!

Guess thats not to bad, the lease trucks are 750 p/w.

 

Yep, I think you got it. If you are willing to run for 3 years steady, then the 'old' truck you are driving is yours, and you know how it has been maintained. You are not buying someone else's junk. When the truck is paid for, then you have the time to go home more and do all the stuff 'owner operators' are known for.

 

I hear ya, thanks for the info, one last question, what are the requirements for this program

 

You have to have completed a lease with Prime (I did my lease with an older truck for only 16 months). I figured at the time if I didn't like Prime I would only be committed for a short period; and saved money during that period for a down payment and did so. I would have done the ACE II but I thought I could do better than the 10.5%APR and I wanted a midroof (as I do flatbed) and Prime didn't have any midroofs on the lot....so I went shopping. Bought my truck, and having all the statements of income from Prime, and taking my truck back there was what sold the deal for the Credit Union (that and $15,000 down payment).

 

To anyone with Prime Inc.

What is the pay per mile average? Loaded and/or empty.

How is the mileage calculated? home movers, Rann McNally, or PC/ actually miles?

Thanks.

 

When I went throuth orientation in July we were told that single drivers were averaging $1.37 mi.....while I was a single driver I surpassed that every week. We were told that teams were averaging $1.20 mi....my wife and I have surpassed that for every week that I have been training her since she got her CDL.

But....it's not about the miles....it's about the revenue. Some loads going 400 miles pay over $1200.....some loads going 2600 miles pay around $1 a mile.....depending on where you are loading and where the load is going.

There are parts of the country where the freight pays good....and there are parts of the country where it pays like crap.

But.....If you average out the good and the bad....it works out good. I might have to take a load to CA that pays crap....and then come out with a load that pays $5K....Been there....done that....and when you average the 2 together.....

I just know I can get good paying freight out of CA....so, I'll take a little less to get there. It's paying the bills quite nicely for us!!!

 

:smt022My husband and I were team drivers for Prime Inc. with were being the key word here. All I can say about Prime is, if spelled backwards stands for EMIRP= Enough Money In Roberts Pocket. Robert Lowe is the owner of this company. He is the one making the big money there, the drivers are paying for his trucks for him by leasing a truck through his sub company "Success Leasing." You will pay out on average of $950 per week or more, to drive one of those pretty trucks. You can never purchase the truck, because there is a balloon payment at the end of the lease. This ranging from $40,000 to $58,000, no one can profit enough above what it takes to live on out on the road, and pay bills at home. Then have enough left over to save that amount in the length of the lease, which can range from 1 month to 3 years. If you like being able to go home, and see your family for more than 2 days a month stay clear of this company. If you are home for more than 4 days at a time the truck will drop into the hole, and it will take you 2 weeks to pull it back out of the hole to get a paycheck. Could even be 3 weeks before you see a paycheck, this depends on your dispatcher and the loads he/she gives you. Prime is not a company that cares wheather you can pay your bills at home, or even have a home, so long as they get what you owe them. Even though you are leasing the truck, and paying for it out of your pocket, you have no say about what speed you can have the truck set at. Yes you will get the miles, you will also sit a lot to unload or load. The only thing is you are not paid on milage, it's on percentage. You make 72% of the Gross Revenue, Prime makes the other 28%. You pay for all the fuel cost including reefer fuel, all tires, and all the up keep, and all the repairs. If your dispatcher doesn't give you the good paying loads, and all your loads are the heavy ones with low revenue then your paychecks will be low also. Yes, Prime has a super nice terminal there in Springfield, MO. They have a basket ball court inside with a gym, tanning beds, food court, T.V. rooms one smoking and one non, a library with computer, laundry room, and a company store with movie rentals, and by all means lets not forget the day care center. and if you are one of the lucky ones, you will see it about 6 or 8 times a year. The only other terminal is in Salt Lake City, UT. not really much to brag about it has a shop and truck wash, laundry room, one shower each for the ladies and the gents they are located in the restrooms, not real private if you know what I mean. When you weigh out the pro's and con's about this company better ask yourself if you like the idea of having to file Bankruptcy they will put you in Bankruptcy, if you are not careful!

 

Yep, Prime is not for everyone. It's a business, not just driving a truck. If you want to be an O/O then this is a good place to find out if you've got the right stuff.