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Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!

Discussion in 'Schneider' started by freightwipper, Jun 1, 2015.

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BigNate Light Load Member

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HalpinUout said: ↑

@BigNate what's your next plan?
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Well my Ole company job wants me back real bad so ill jump over there and think about coming to the choice world

BigNate, Mar 13, 2016

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HalpinUout Thanks this.
T_TRUCKER. Road Train Member

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BigNate said: ↑

Well my Ole company job wants me back real bad so ill jump over there and think about coming to the choice world
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If i were you and remember this is just my opinion.. I would most definitely WAIT until freight picks up again... Whenever that is just sayin its not a good time to come here. For someone new to learn the system and deal with these rates it may be easier to jump across the Grand Canyon.

T_TRUCKER., Mar 13, 2016

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centralmi, freightwipper, CaptainDaveG and 1 other person Thank this.
BigNate Light Load Member

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T_TRUCKER. said: ↑

If i were you and remember this is just my opinion.. I would most definitely WAIT until freight picks up again... Whenever that is just sayin its not a good time to come here. For someone new to learn the system and deal with these rates it may be easier to jump across the Grand Canyon.
Click to expand...

Well i left a decent job to do some local day cab stuff which they made big promises and couldn't deliver so before I went back to my other job I figured I would give the whole lease thing a try as a crash course of sorts. If my old job does right I may stay there but I've always dreamed of owning my own ride ya know

BigNate, Mar 13, 2016

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rickybobby Road Train Member

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This is my part time job.

rickybobby, Mar 13, 2016

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scythe08 Road Train Member

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Schneider has been advertising for I\Cs in slc pretty hard. Plus the usually regional, home every week, 'up to' $68,000 a year. Funny how they try and show you how they come,up with the nunber, without actually giving you the numbers they used to get get that fictitious number.

scythe08, Mar 13, 2016

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Dominion Transportation Thanks this.
MikeyMike143 Bobtail Member

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freightwipper said: ↑

Before I came here I these Schneider threads for months and also asked many questions.
I saw other drivers pay, saw the load board etc etc.
It's a big commitment to leave a job and go sign a lease for a truck to do something new.
If you look around there really isn't any unhappy Schneider choice drivers nor ones saying they're going broke and in the trucking industry that's saying A LOT! Yeah we including myself might complain about minor things but overall everybody agrees this is a pretty good gig. Seeing all the happy drivers here and seeing for sure I can make money here was the key in giving me the confidence to pull the trigger to come here.
Where else can someone go where they'll lease you a truck.. and you work off a load board picking your own freight, paid on percentage and have endless drop and hook freight??? Nowhere.. it's second to none.
The closest to this program there is you'll find is Landstar but there are differences in that.. the main ones are they won't help you get a truck like Schneider and two while yes there's a load board you're dealing with brokers and speaking to people vs here loads are yours once you click on "assign" and lastly there's a lot more live load/unload freight with set appointment times there vs here.
Not saying Landstar is bad but it's simply different and for some better suiting for them.

As far as trucks go Schneider finance pretty easily will accept you, the main thing they care about in knowing is your living expenses. Credit really doesn't matter to them but if you have a million dollar mortgage and have 7 kids then they won't accept you..
As far as picking a truck.. new vs used.. nice vs basic.. that's different for everybody.
For me a new truck was the way to go. I wanted a warranty and less headaches.. as simple as that.
Yes payments are higher but there's greater risk/reward in a used truck that I didn't want to get involved with.
Money isn't everything.. comfort and peace of mind held a huge factor with me.
Being I spend a lot of time in my truck and want to enjoy it so I went with spending a little more money upfront for a Kenworth which for me is a lot nicer and more comfortable than any other truck I've ever been in.

As far as the numbers go here any new Freightshaker or Kenworth will run you in the $700 range per week for just the truck.
Used trucks are less BUT Schneider makes you pay a larger amount per week into a maintenance account.
As far as fixed costs go new vs used here there isn't that much of a difference.
Schneider does offer a one year lease but only on new and used Cascadias. The purpose of the one year lease is to "see how you like it". Schneider finance wants you to do well and be happy, they won't try to suck you into a longer term lease. Again that's your choice.
After your year is up they won't do another one year lease for you.. 3 years seems to be the norm from what I've seen.
Up front costs are as follows (as of recent)
Used Freightliners are zero down
New Freightliners are $1k down
Those pretty much are company spec trucks as in plain but without the governor.
Used Kenworths are $2k down
New Kenworths are $5k down
They are loaded, 13 speed, refrigerator, APU, power everything etc etc.
When you lease onto Schneider with a new truck they give you a $1,400 bonus into your maintenance account.
So for example the down payment on a new Freightliner pretty much washes out.
$3k of the $5k I put down for my Kenworth is a security deposit which is doubled and returned to me at the end of the term. Or in other words if I walk away after my term I have $6k coming to me along with whatever money is left in my escrow and maintenance accounts.
My fixed costs per week including everything.. tags, insurance, truck, maintenance account etc etc is $1,103 per week. $135 dollars of that is my fixed maintenance fund
If I want to buy the truck after 3 years it'll be $59,000 which I plan on doing regardless of if I keep the truck or not because based on the market I see I could flip it at that point for a profit.
As far as coverall cost.. yes I realize I'm paying a premium by leasing a truck through the company I'm working at. If you have the credit and a big down payment you can get a better deal elsewhere I'm sure.
If you compare me leasing my truck through Schneider and then buying it after 3 years.. vs me going through lonemountain for a Kenworth to buy I'm spending about $20k extra over 5 years by going through Schneider.
For the record the same type of Kenworth from Lonemountain is $14,000 down and $2575 a month for 60 months.
Everybody has different wants and needs for trucks but for someone not wanting a lot of risk, money up front and wanting to test the waters I suggest doing a one year lease on a new Freightliner here.
That $1103 I'm paying is if my truck is moving or not which appears a lot to digest and it is.. it's a commitment for sure. The key obviously is to run well and to good enough to afford time off which isn't as difficult as it might appear.

I'll share a few recent weeks to give an example:

7 days working.. 7 different loads picking up or delivering in the states of VA, PA, OH and IN.
2,098 all miles Revenue was $4,737.62 ($2.25 all miles) fuel used was about $800 that week so my revenue that week after fixed and fuel costs was a little over $2,800

Most recent week I worked 3.5 days out of the week 4 different loads in the states of OH and PA.
1101 all miles, Revenue was $2,534.08 ($2.30 all miles) fuel was about $440 so that week revenue after fixed and fuel costs was about $990.

Those are a couple of my recent weeks.. I had those "good loads" I posted about earlier in the thread. Have the proof if need be. I must say my numbers aren't easy to pull off. I spend a lot of time checking the load board.. as in every time the truck stops Monday-Friday. Real good loads go fast.. many times within seconds and there's only so much hot freight out there. That's not saying you can't do good on longer runs or by preplanning way ahead of time.
I have found only by doing shorter loads and checking the load board a lot can I pull off $2+ all miles at over 2000 miles a week. Short loads however require a lot more planning and a lot more can backfire.
I've seen drivers run solely the Northeast that live there that average $1.80 ish all miles.
Other drivers who go all over doing 3000+ miles a week $1.50-$1.60 all miles.
If you just wanna run run and don't care much about getting the best rate you can easily do so.
With open window drop and hook freight... there's no reason except for you to knock out whatever amount of work that you want to.

To give a conservative idea of a lifestyle you can choose and what that would look like here's an example:
You work 2,800 miles a week 3 weeks at $1.55 all miles and then take one full week off.
Fuel prices now are around $2.80 per gallon and lets say you get 7.5 MPG
2800 X $1.55 $4,340 in revenue.
- fuel $1,045
- fixed costs of $1,100
= $2,195 to you after fixed and fuel costs per week
After 3 weeks you've earned $6,585 before taxes now you take an entire week off..
so that's $6,585 - $1100 = $5,485
Which all in all comes to averaging $1,371 per week or $71,292 per year with taking 25% of the year off work!
What does the run of the mill company OTR driver earn? .40 and 115,000 miles a year? that's $46,000 and you certainly aren't getting that much time off.
Yes you pay higher taxes as an IC but you remember you can really rock out the per diem still.
Point of this was to give an example showing that even though $1,100 in fixed costs might sound scary you can make it work and still do well.. all with the freedom and choice to go and do whatever whenever you want pretty much.
These kinds of examples I ran over and over again in many different aspects and each time I've come to see I can easily earn more money and have more time off vs being a company driver. That in part was another huge reason why I came here.
As far as income goals I have...
When I'm out 7 days as long as I reach $2000 after fixed and fuel costs I'm content and that number hasn't been difficult to reach. My goal every full week is to do $2,500+ which is more difficult but not impossible as I've done so multiple times already.
I mainly run Mid-West and some Northeast but no New England.
Another goal of mine is go exploring the country and running different areas but by doing so I'd be taking a big pay cut which I've been putting off because I wanted to save more money first.
Before winters comes I am going to go to the west coast.. that for sure is going to happen even though rates suck over there.
All in all I am very happy here and there's no place I'd rather be.
I will continue to update my progress, share my adventures and my numbers.
Feel free to ask any questions...
And to all those other Schneider ICs on here.. THANK YOU. Without you I wouldn't be here.
Your sharings and answering of my many questions gave me what I needed to come here myself.

Click to expand...

Looking into this how has it been?

MikeyMike143, Mar 13, 2016

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MikeyMike143 Bobtail Member

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I heard the same freight is going to slowdown till after the presidential elections every country is talking about US trade and like it or not the election matters we'll see what happens

MikeyMike143, Mar 13, 2016

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workingklasshero Thanks this.
freightwipper Road Train Member

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MikeyMike143 said: ↑

Looking into this how has it been?
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Well theres 400+ pages... knock yourself out lol

freightwipper, Mar 13, 2016

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freightwipper Road Train Member

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BigNate said: ↑

Well i left a decent job to do some local day cab stuff which they made big promises and couldn't deliver so before I went back to my other job I figured I would give the whole lease thing a try as a crash course of sorts. If my old job does right I may stay there but I've always dreamed of owning my own ride ya know
Click to expand...

99% of these lease deals suck fyi.
Unless YOU are in control (picking your own loads) and on percentage I don't suggest doing any of them.
There's a few pick your freight carriers out there.
They are not all the same.
In bad times (which we're in) having access to direct customer contract freight is a godsend.
Would not want to be relying on spot market and brokers in these conditions noooooooo buddy lol.

freightwipper, Mar 14, 2016

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scottlav46 Thanks this.
driverdriver Road Train Member

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scythe08 said: ↑

Schneider has been advertising for I\Cs in slc pretty hard. Plus the usually regional, home every week, 'up to' $68,000 a year. Funny how they try and show you how they come,up with the nunber, without actually giving you the numbers they used to get get that fictitious number.
Click to expand...

Of course they are they don't want pull that cheap freight out of there on company trucks.
The rates on the board there are .63 to .80 per mile unless you go to the NW from there where you'll find the same disgusting rates

Even adding back in 35% for sni that's 1.08 then adding in what ever sni logistics took before it was given to sni national maybe making it 1.18 or so.
Right now they're haven to pull the majority on co. trucks

driverdriver, Mar 14, 2016

#4410

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