Questions for the O/O at prime/prime logistics

Discussion in 'Prime' started by Tmichael2332, Sep 7, 2014.

  1. Tmichael2332

    Tmichael2332 Light Load Member

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    Currently I'm am leasing with prime have been for almost a year now. Trained a little but mostly ran solo. I've been looking into buying my own truck and leasing it to prime. I've done some research on here and else where but can't find much. Haven't called anyone yet because this is still in the early stages. My questions are: Do you have to have your own authority? If not adavatages, disadvantages? Can you use primes insurance or do you have to find your own? (Not health) I've heard 2 different things about the trucks. 1. It has to be able to go into Cali so 07 or newer 2. It has to be within 2 model years of the newest truck. Which one is it or are the both bs? Any other info would be awesome as well. I run flatbed and I'm not trying to get out of my lease because I couldn't make money I actually did quite well. Would love to hear any comments, tips or anything helpful.
     
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  3. ironpony

    ironpony Road Train Member

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    No... you can lease your truck on under Prime's authority.

    If you have your own authority, by definition, you have to have your own insurance. Can't get an MC number without it.

    Both. It has to be able to go into California, and in order to lease a truck onto Prime under their authority it has to be within 2 model years of the current year. The only exception to that I know of is if you enter into a used ACE lease-purchase agreement with Success. Whatever you do it still has to undergo an DOT inspection conducted by Prime, and whatever turns up has to be repaired before you can start operating.

    Get in touch with Pam in the leasing office, and she can help you with your questions on the Prime side of it. There's plenty of info on TTR about getting your own authority... you need to do a lot of research on the costs and responsibilities. Advice... start socking away your money because its going to get expensive fast. Rob allows you to float your expenses (to a point) on his tab while you're leasing. When you step up to ownership under his or your authority you pick up that financial responsibility. If you're not running your lease as a full business, start now including doing your own accounting. If you don't know your numbers, you won't last long.

    There is an addendum in your lease showing the amortized value of your tractor by month and mileage. In the last month of your lease (let leasing know at least six months in advance) you can opt to buy your tractor on a used ACE lease agreement. It has to be under 450,000 miles, the down is $13,000 less $1,000 for each full year of service at Prime. It's 2 years - 104 payments - and $100 due at the end. You can continue to operate under Prime's authority (pretty much what you're doing now) or get your own authority and move to the Advanced Fleet. You still draw on the same pool of freight that the company and lease operators do, but the Advanced Fleet has their own brokerage and brokers as well.
     
    Last edited: Sep 7, 2014
  4. Tmichael2332

    Tmichael2332 Light Load Member

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    Jan 9, 2014
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    Thanks IP! Read a lot of your post before and in the beginning of my lease helped a lot! When you say start doing my own accounting do you mean don't let primes tax people do it anymore or what? I keep up with my expenses, revenue, net fuel cost, ect. Let's say I buy a 2014 Pete and lease under primes authority does this mean by 2016 I'll have to upgrade? Again thanks for your help.
     
  5. ironpony

    ironpony Road Train Member

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    As long as you know your numbers you're good. So many guys think that "knowing their numbers" means handing a box of receipts to a tax accountant on April 14th... have no clue about the costs and financial requirements of ownership.

    No that is only when you lease on. Once you're in, you're good to go with the truck. I'd be very careful about buying a used emissions truck... many of them are maintenance time bombs waiting to happen.
     
    akfisher Thanks this.
  6. Commuter69

    Commuter69 Road Train Member

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    Stay away from this company... they expect you to pay for your own transportation to their office(and only reimburse $150), your own drug screen, and will charge you for ANYTHING else they can think of. Their equipment is all beat up and not well maintained(the school I trained with had a yard truck that was newer than anything in use by the company, and IT never left the yard unless an instructor took it out for fuel 2 blocks away). How can these fools be in business? I wouldn't trust them with a LEMONADE STAND!
     
  7. BoostedTeg

    BoostedTeg Road Train Member

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    Primes equipment is nearly all new.
     
  8. albert l

    albert l Road Train Member

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    Prime or another company ?
    Prime has a lot of new equipment
     
  9. fragicide

    fragicide Bobtail Member

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    Are we even talking about the same company here? Prime's trucks are almost always no older than 4 years... their trailers maybe 6.
     
  10. Commuter69

    Commuter69 Road Train Member

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    Not PRIME, PRIME LOGISTICS (office in Rolling Meadows, IL), office, but no real yard of their own(they keep their trucks and trailers at a 3rd party shop that falls under the category of "if it CAN be done, it still is not necessarily a good idea" in terms of accessing it).

    Www.primelogistics.com

    I could teach my 15 year old nephew enough about hours of service so that he doesn't schedule appointments that conflicted with rest breaks, something their dispatchers don't get... you can't schedule an appointment when the driver arrives near out of hours and can't leave for 10 hours, and (un)loading takes 5 hours, or cannot arrive within the hours he has. most receivers don't want you on their property longer than they need you there for. Walmart is an exception if you tell them you have to be there for 10 hours and can find a place out of their way to park.
     
  11. fragicide

    fragicide Bobtail Member

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    They're not even related to the Prime that this forum is centered around...

    Prime Inc's logistics division is at http://primeload.com

    The company that this forum is about is https://www.primeinc.com
     
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