Prime, never been insulted by employer before.

Except for one thing... its not a lease/purchase. Its a straight lease - all payments are tax deductable.

 

I find it funny how everyone latches on to the misinformation because it looks worse, and completly skips my post where I point out that the payment they are talking about includes the truck and the insurance for the truck, and the qualcomm. It's not just the truck. Oh well.

 

...and then start comparing it to a completely different business deal. I think a lot of it is guys who were ripped-off by the bottom feeders, and want to feel better about it by running everyone else down.

 

Ok..Let's try it this way..What are your LEASE payments for that truck every week,the truck will you never own and can't take to a different company?

How many miles a week are you running? What is your median pay per mile?

 

We're paid as a percentage of the linehaul... the fewer miles I run the better off I am. Its about what you can sneak across the bottom line.

And... I'm just as happy to NOT own the #### thing.

 

The point is as a business person you are not making that much money for the liability involved.after you deduct your business expenses I will have mede more this year than you only as a company driver, off every weekend (thats home friday by 18:00 till 3:00am Monday). And I get by the house several times during the week. So what advantage is there in the advantage lease at Prime, NONE TO YOU. Only too them. PRIME makes John Christner look like a saint, and believe me he's no saint.

Good luck, remember we are here trying to protect drivers from making long term mistakes, And there are a few at least that may have slightly more than a years experience.

 

The thing is you are way overpaying to lease. You should not be paying more than what would be a standard truck payment. If you were paying maybe $1500/month for lease only plan, that might not be bad. But paying $1000/week, including all the incidentals, is insane.

 

That wasn't helpful.I don't drive for Prime.Apparently you do.I asked you what you pay for that truck every WEEK,what you get paid per mile on average based on the miles you do run?

What I'm trying to get at,is compare that to financing a good quality truck in your own name,a truck that you will one day actually pay off and can make money on with any carrier you want, or maybe use to get your own authority and really be an owner operator.Not forever driving to pay Prime's note on the truck and have nothing to show for your efforts at the end of a few years...

Once again,your involved in a lease purchase ,not me.I'm asking you to help us better understand the advantages,based on the numbers as you see them..

 

Exactly. What ironpony fails to mention is yes his take home may be higher than a company weekly, but he forgets his pay isnt taxed like a company driver. I did the math every week, and with what i brought in, less taxes, then compared what i would have made as a company, it was always less.

Yes, you have stuff thats a tax write off, but you still wont come out on top at the end of the year. Also, as a lease opp you are a slave as you mentioned. I went back company yesterday and put on a dedicated run making more money a week, getting home once a week AND still getting my 3 days off every three weeks. Couldnt do that as a fleece driver.

Its funny how ironpony always avoids the financial questions. Affraid maybe?

Ill tell you what mine were as a lease driver:
$1076.54 a week PLUS 8CPM for every dispatched mile empty or loaded

That 8CPM charge is:
1.5 CPM Tire Fund
4 CPM rent fee
2.5 Fuel Tax

Here is a break down of the $1076.54:

Truck Payment -$849.00 License And Permits -$34.62 Performance Bond -$20.00 Operating Statements -$15.00 Accounting Services -$6.25 Fuel Card -$1.00 Occupational Accident -$55.73 F.H.U.T. -$10.58 Truck Stop Scanning -$5.00 Tri-Pac -$70.00 Dental -$8.27 Life Insurance -$1.09 Total -$1,076.54 As you can see, $9.36 is elective benefits., and the Performance Bond stops after $1000 is reached.

 

Have you turned your truck in yet , and if so how did it go ?