Prime Lease

Hehe. I am also with a mega, but I am an o/o not a lease operator. I fully understand your concerns about there being someone in the office when you need shop time. That's one of the reasons I considered when choosing to be an o/o under the authority of Crete.

I run a lot through the Appalachian and Ozarks, on 24/40/78/80/81. I also see some 400 mile days, but not many. Most of my days are 500 or more miles. Most of my routes are 95+% interstate. I get some loads running cross country, and each of those loads can set me up nicely for three 650+ mile days.

After expenses, as an o/o hauling reefer, I am on target to have a personal annual income of around 60k takehome. Once i get the truck paid off, that will go to around 80k, if expenses remain stable.

My concern here is not who you work for. I am worried that you are considering a lease which is clearly designed to make it hard for you to get ahead.

Leases are, generally speaking, the worst way to be a truck driver. You generally have the same restrictions as a company driver, take on almost all of the risk, and will never own the truck unless you buy it after your lease is up.

Some companies have actual lease purchase programs. I can't name any offhand, but I am fairly confident that none of them are the bigger megas.

That soft cap limit for miles is what really has my nose twitching. It stinks of a trap.

 

I see leasing as just having a clear look into the business side of things. I mean, as a w-2 employee they're pretty much seating you into a truck they leased and then paid all the expenses for, but you don't get to see how it all works.

I can clearly see what they get paid and where all the money goes when I lease so I don't feel like I'm being ripped off if I'm not paid 50 cents a mile pulling dry van. I can also put in extra effort to make more if I want since I can usually route myself in these situations. I don't care to own the truck unless I can get it at a good price. I'd probably just use it as a trade-in like the company will do after it's 3-4 years old.

To the company's benefit, I'm more likely to take care of the truck and pay more attention to my MPG, being a better truck driver overall. I work towards being efficient and not just putting in the most miles I can possibly do in that day.

 

In most cases, you will be paying for all maintenance and repairs on the truck whether you lease or own. If you would rather lease because it's easier to drop it if things go bad, then that's a valid point. As long as you get into a lease which allows you to walk away.

 

Bob $80k with a paid off truck is terrible especially considering that you say you run an average of 3500 miles/wk. I'm with Prime I have a paid off truck and last year my net was more than 80k about 60k more.

 

What type of loads are you pulling? Prime has more than van and reefer.

That said, I have never claimed to make top tier money. I put in a lot of miles, on a steady account, with nearly zero risk other than risks associated directly to truck maintenance.

Making more money on fewer miles is a goal. For later.

 

Crete pays a fixed $1.18/mile + FSC for 250-700 mile runs.

That's terrible. If running 3500 miles/wk for $1.18/mile + FSU suits you then great but I think your revenue is very unsatisfactory.

 

I want more money too. But, for now, I am making enough.

 

What about John Christner? They have a 1 dollar purchase at end of lease. But Im not sure if these are new trucks. I believe you'd supposedly net 13-1400$ for 2800 miles, but after you pay taxes and health insurance, doesn't seem that great. Why not buy or lease a truck from a dealer and get a bigger chunk as owner operator? Im asking because I dont know, not because I'm being negative. I'm looking at a lease, tryibg to pin down the best options

 

When I started driving I went through primes driving school and training. I jumped straight into a lease truck and never looked back. Lowest settlement i made was $800 for a week and the highest was just a hair over $3k for a week. As long as you see it for what it is, I dont see what the big deal is. At prime you lease a truck for 3 years, they keep the truck and give you the option to put a down payment on another lease that you will own in 3 years. Basically, you are paying off a truck for them. What do you gain? Experience in running a business and if you do well, more money than a company driver. It is what it is. I dont regret it. I have moved on from prime but I am thankful for the training and experience i recieved there. To this day I still have zero accidents, zero tickets and a clean MVR.

 

No more leasing from prime to California residents