Pay by percentage/ pick my own freight ??

Discussion in 'Lease Purchase Trucking Forum' started by MileMaker719, Jan 15, 2019.

  1. MileMaker719

    MileMaker719 Light Load Member

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    Which I’ve heard allot of people suggest while others would say you blow the savings of a used cheap truck out the stacks in gas so I think it’s less about what truck to get and more about the right company / situation your bringing this truck too ?
     
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  3. MileMaker719

    MileMaker719 Light Load Member

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    I agree with you there but I have run number and the difference between a 4/5 mpg and a 7/8 mpg at 100k miles a year is huge . Not saying that lone is a reason to make a decision just saying when you actually break down a 650-750$ a week payment vs a 30k-50k truck which I couldn’t even afford anyways and then add in fuel savings and the warranty which all but eliminates the 30-40k repairs everyone talks about with these old trucks in a 3 month time frame if your unlucky that newer leased truck really starts looming about the same if not better with allot less risk of no return on profit . If I could afford to go get a truck cash or finance one on my own then yeah maybe this would be something I could look into but with my current situation and I believe most people situation who don’t have 30k in the bank if I had 30 k in then bank I wouldn’t have become a truck driver lol also most peoples credit are not much higher then mine (623) was run yesterday for other reason . But overall I’m really leaning towards getting into a lease going to a company like f2f transport where I can pick my own freight for 90/10% and learn then business with an almost risk free situation ? Where as if I go buy a truck there is no turining it in if it doesn’t work out and even if I could I just simply don’t have the start up cash . And as a company driver I will never be able to save up the kind of money required to get truck get authority and so on and so fourth ? Plus it’s easier to get insured as new driver with an established company vs on my own as owner operator right ?? Allot of time I feel like asking well how did you go from company to o/o lol and what’s the way everyone who’s telling me these different things go from making .37 cpm to buying a truck getting authority and so on ? But either way I appreciate all the advice and helpful info and I will continue on in my journey of learning how to get my own business going .
     
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  4. thaistick

    thaistick Road Train Member

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    7.63 MPG for 2018 in a 2006 truck, and she runs on diesel not gas...
     
  5. BIF MALIBU

    BIF MALIBU Heavy Load Member

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    im a career company driver
    daycab home every day
    been putting money in that 401k for 20 years
    banked some on the farm sale and bought some IRA's and got too much in the checking account
    made 65000$ working 5 days a week last year
    company reimburses all but 1000$ dollars of the 6000$ obama deductible
    really enjoy the paid vacation plus any time off i desire
    seen people make more money on real estate than the flease purchase
    i am looking forward to when things go bad with the boss and i get to stay home
    you got 3 kids and your gonna live in the truck and gamble their future
    i seen the you tube video about the new owner operators pulling in the mans driveway
    he pull the valve cover off and check out the soot packed ruined rockers and they are taking the truck back and asking to get rehired at the company
     
    Last edited: Feb 2, 2019
    Reason for edit: content
  6. roadgoddess

    roadgoddess Light Load Member

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    They aren't lease purchase
     
  7. MileMaker719

    MileMaker719 Light Load Member

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    Almost 8 miles a gallon in a almost 15 year old truck lol I’ll buy one if you wanna sell it that’s for sure and st this point I appreciate the info but what I’m hearing is a bunch of o/o telling me why going o/o is a terrible idea lol so I’m going to continue to do research and figure out why all these company are selling trucks and guys are keeping them if it’s so impossible lol I mean I get your saying it’s tuff and allot of risk but was there no risk when you started ?? I’ve yet to see one person say here’s the best way to do it that didn’t involve being a company space for 30 years to save 50k to put down on a truck you’ll still have a payment on and once the first thing goes wrong your out of business because you spent all your liquid cash up front .. big Fortune 500 companies don’t drop 250million on a new company they barrow from banks and lenders to create an opportunity in order to one day be able to be better suited to buying up front but for now I don’t have 20 to 30 years to stack up my 30 cents a mile until I can start up perfectly.. someone said 90% of lease guys fail that means ten % have shown it can be done . It everyone is smart with money and not everyone should go into business y themselves.. I think you all have made allot of good points and I appreciate all the info but I’m not going to give up because it’s hard or not perfect I will do what ever other o/o did and start somewhere and work towards the ideal set up . If you would like to lend a hand on how to start that up I’m all ears but if it’s just to talk me out of doing it I’ve heard enough of that to last a life time (with all due respect )
     
  8. MileMaker719

    MileMaker719 Light Load Member

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    Just FYI I drive a 2017 Volvo automatic that doesn’t get 7.63 so I am really finding that hard to believe .. anything’s possible but that’s a stretch for sure unless your hauling cotton candy year round ? Just saying ?? Hard to believe ??
     
  9. SavageMuffin

    SavageMuffin Medium Load Member

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    .
     
    Last edited: Feb 2, 2019
  10. Brettj3876

    Brettj3876 Road Train Member

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    What's so hard to believe about that. Look up a 60 series Detroit
     
    Zayah and thaistick Thank this.
  11. highwayMike

    highwayMike Light Load Member

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    Jan 17, 2019
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    You ever try placing your money in Mass Mutual Whole Life Insurance Policy that pays dividends. The future of 401k is not controlled by you and you don’t know what the govt has in store for it when it’s time to withdraw.
     
    MileMaker719 Thanks this.
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