Prime's lease deal. The math gets done.

Ok, in a year come back and tell us you are still doing well. I am not being critical of what you did, but merely trying to illustrate the idea that trucking changes, goes through stages, and while all seems well now, in a year things will probably be different. Most drivers in a lease truck do not last. That is a fact. Let us know if you beat the odds.

 

Trucker story of the year so far!!

 

I thank God almost every day for Prime and the way they treated me. Because of their predatory lending practice aka 'lease purchase plan,' I was able to get a taste of what getting the shaft really is. Loads that were short, paid crappy, a truck that had an odor and a host of problems along with a host of sketchy rules and regulations regarding unloading to follow at the consignee's dock were but a few of the many obstacles that had to be negotiated before a dime of profit could be made. Because of my epic lease-purchase failure (1 out of thousands I now understand) back in 2009, I swallowed my pride, crawled back to my former employer (a municipality) later that year and got my old job back. Last year I earned a little over $70,000 with a company car and a small expense account. Additionally, I have a ton of sick time accrued as well as 3 weeks a year vacation, 5 personal days, comp time in lieu of overtime should I choose, and a full benefits package with dental and vision that I do NOT have to contribute to. I have another 9 years in the state system and I'll retire with a decent pension.

Lesson learned: Trucking SUCKS! Do the math - even if you're a company driver - and calculate the amount of hours you spend in the truck and divide those hours by your gross pay. Whether it's working, relaxing, or sleeping, YOU are responsible for the truck AND the load. You'll easily see that flipping burgers at the local McDonald's is waaaaay more lucrative! I had a guy proudly tell me one day that he made $56,000 last year driving a truck. I pointed out that if he used the same simple math as above, he actually made the equivalent of $6.41/hour! McDonald's starts you at $7.50/hour, gives you full benefits after 6 months, and pays you overtime for all hours over 40. The best part is, you get to sleep in your own bed every night!

Take care all, and be well. Better yet, find a better paying job and stop allowing these scummy trucking companies to take advantage of you!

Sean Oleary

 

Well Sean..NOT all of us are getting the shaft that bad. You posted your numbers, perhaps let me show ya mine..29 years at UPS (Parcel)..Retired-pulling in over 4K a month on an IBT pension with full retiree healthcare. When I retired I was at the top of the feeder drivers scale. Last 3 years averaged over 92K. And, all my road expenses were paid by Brown. Now ? Well, got a little bored watching the grass grow (and mowing it), so I got into an IBT tanker gig. Occasional trip to the tank farm in Las Vegas or Phoenix. And I average about $32 an hour. And I get even MORE benefits (got to love double coverage !!). I work pretty much when I want, maybe 2 to 3 12 hours shifts a weeks and ALL my time is paid for. See Sean ?? Not ALL of trucking sucks..Does most of it ? if your not careful to pick the right job/company ? Sure it can. But to insinuate that all people in the business should "flip burgers" is a bit inane. Actually, since most of us are "taxpayers" and not "tax taker's", we think YOU may be a little overpaid. Some of us just don't like "smelling of fries"..

 

Sorry to hear that.

Glad your old job was there so you're not living under a bridge. But it's like this... someone's got to be the rube, so the rest of us can succeed spectacularly.

 

If oldtimer had it so good why did he leave to go trucking in the first place and to go with prime right off the bat i guess he doesnt no what research is LOL

 

I have a friend who does Prime's lease program and he's doing good, he's all about making enough bank to go buy his own truck. Not from Prime of course.

 

I agree with you that totally, I think a big reason I have done a big thing that people who have a interest in leasing or running any business is math skills and a good memory. math is a must out here, you need to be able to add up the miles, remember the terrain of the route you will be running across, think about the weight you will be hauling to get a good idea of the fuel millage you will get across that terrain and add in the affects of weather patterns, figure out how much fuel you will need and know the general range of fuel prices across your entire route, figure up the cost to run the load, and then do a cost to profit analysis to figure out if the load is worth running. you also need to know area your going to know if you could potentially get a better load from that area that would offset any low amounts or even loss of profits on the current load. its a lot to do and REQIURS and quick mind, good math skills(even if it is on pen and paper, it still works), and a good memory to do all that. and a lot of times, you don't really have the time to sit there all day to figure all that out, your gonna get those loads that needs you to be 30 miles in 15 minutes and these dang trucks wont just sprout wings so you can that when you take all day to figure if that's the load for you. its a huge commitment and not for the weak minded or feint of heart.

 

I love these comparisons. Yeah, you could work at McDonalds for $7.50 an hour. You'd make less than $16k a year. Sleep in your own bed? Yeah, maybe at your mothers house with that pay.

I look at it this way. Yeah, on my last run out, I only averaged about $6.90 an hour for every hour I was on the truck. Granted, I wasn't at home, but roughly 50 of those hours, figuring I earned $6.90 an hour, I was paid for doing absolutely nothing. Sitting in my truck watching videos on my phone, or in the TV lounge.

 

I generally try not to get "caught up" in the realm of "oh this company put the screws to me!" and such stuff... but I find that after reading a recent post above I "can't help myself" to say something.

Why is it that near every time a person fails at truck driving it becomes "that company really screwed me..." etc. etc. etc

As in all things in life, there is always two sides... and yes there are legitimate cases out there where other than honorable people have taken advantage of (especially "a newbie") but far too often it really boils down to that individual who "didn't make it" as a trucker simply is NOT cut out to be a trucker. Not being cut out to be a truck driver is NOT a crime! Truck driving is NOT for everyone. Man up! Accept that fact that trucking just wasn't for you. That's good character building stuff. It's OK.

Trucking is NOT a J.O.B.... it IS a way of life... it is the epitome of you either love it.... or you hate it.

There are thousands of professional drivers out there that LOVE trucking, even with all the negatives that can be found, abundantly so, in forums such as this posted by people that rather than admit trucking just was not for them, instead rush out to "tell the world" what a horrible job trucking is... blah blah blah.

I have, and always will "tip my hat" to ALL the PROFESSIONAL truck drivers on our highways.

God bless you and yours for the sacrifices you make to provide this great country the products we need for every day comfort and pleasure.