Starting Lease Purchase.....

Discussion in 'Trucker Taxes and Truck Financing' started by Romans612, Dec 3, 2010.

  1. Romans612

    Romans612 Light Load Member

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    Jul 6, 2010
    Dallas Texas
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    roaddog, stiffride, and krooser:

    all of you need to take a prozac and CALM down.

    lets do this one by one...

    road dog:
    1) no money down, no credit check, $1 title buy out at the end of the lease
    2) YES, I CAN simply turn my keys in for ANY reason if I wish to... (this is in the contract) (yes, I have read the contract many times AND have 2 copies of it)
    3) no forced dispatch.
    4) no short hairs in the equation....

    stiffride:
    1) not squandering my money, rest assured. making more than I would if I were a company driver even after my truck/insurance payments
    2) I have bumper to bumper maintenance on the truck. ANY thing breaks, KLLM fixes or repairs it. (yes this is an added charge of 0.11 cents per mile)
    3) I am in fact single, young(ish) and dont spend a dime on myself.... lol
    4) read above where I stated $1 title buyout at the end of the lease.

    krooser:
    ReLAX! Yes, I am quite sane. have not lost my ##### mind, but thanks for being so concerned. Yes, I know what fuel is projected to do. Yes, I do have a fuel surcharge that goes up as the price of diesel climbs... using YOUR logic, ALL O/O's are doomed... not just lease purchase drivers...

    regardless, should the lease not work out for me down the line, I DO in fact have the ability to turn in the keys with ZERO negative action taken against me. (as stated in the contract) (which I have in fact read MANY times)

    in the future, should you wish to question the logic of my deciding to go lease purchase I would appreciate it if you would refrain from doing so in the post I made FOR TAX QUESTIONS....
     
    RBPC, Prostreet1, Stoney and 5 others Thank this.
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  3. stranger

    stranger Road Train Member

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    Does the .11 CPM include tires? If so, that's not too bad, as many trucks average from 9-13 CPM maintenance, according to miles run per year, and what happens to break.
     
  4. Romans612

    Romans612 Light Load Member

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    it covers EVERYTHING.... tires. brakes, A/C knobs....lol.
     
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  5. slodsm

    slodsm Light Load Member

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    All I can say is good luck with it. Everyone is always gungho when they get "their" new truck.

    Company drivers are going broke due to no freight and they cost the company less than the L/O drivers (if it's such a great deal like everyone thinks and all L/O's are going to be rich if they play their cards right) so how do you think you're going to keep the miles rolling to keep making that profit?
     
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  6. Romans612

    Romans612 Light Load Member

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    Dallas Texas
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    there is LESS overhead on L/O's than there is Company... this is due to not having to pay for health insurance co-pays, matching contributions, not having to pay workers comp, AND having LESS liability than company drivers...

    that being said.... KLLM doesnt favor one or the other when it comes to miles.... if you are the first to get unloaded, you are the first to get another load... first in first out.

    not sure what you are referring to, since the company drivers I have talked to are still averaging about 2500-2700 per week. Lease drivers tend to work longer and harder since they are making the payments, and are averaging about 2700-2900 miles per week. the last 3 weeks total I have accumulated 7350 miles... and thats with a bad week of 1100 due to being snowed in in VA and getting a bad Walmart multi stop load....
     
  7. Corporal_Clegg

    Corporal_Clegg Road Train Member

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    So why does anyone drive at all? If the company drivers are going broke and the lease ops have no chance of making it, then why dont everyone just quit and go to work flippin burgers or greatin customers at Wally World?
     
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  8. Romans612

    Romans612 Light Load Member

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    Dallas Texas
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    because I would rather PAY than to have to work at Wally World...lol
     
  9. Passin Thru

    Passin Thru Road Train Member

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    My question is why in your right mind would you take Stevens so caled lease. Youre an employee making their payments and at the end of 20 years youll have nothing to show for it but paperwork. Sure you can make it work, for them.
     
  10. Romans612

    Romans612 Light Load Member

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    Jul 6, 2010
    Dallas Texas
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    I guess you aren't talking to me.....
     
  11. Passin Thru

    Passin Thru Road Train Member

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    I owned my own Pete, 18,000 down and it was 92,000 total new, bought a trailer, covered wagon, headache rack, tarps for a flatbed also as it had to be convertable but had to haul 6-70 ft beams also. When I got done I had a $120000.00 investment. It was 1100/mo insurance, $3800-4000 for fuel. Tires every 10 months were $400 x 18 + a couple for mishaps. So, my truck payment ballooned to $8700 with all that and there were washes 1 x week at $50-75 and wax and you name it . So to make expense you have to run 10000 miles a month. OH, I forgot 1 major thing, you have to eat and that runs about 25-50/day if you eat a "Proper" diet, not junk food. Before I put on a $7000 generator, coffee was $3/day or more. Then there are road use taxes, fuel taxes, mileage taxes, Fed taxes, and IRS gets $500/year road use tax. It was a $25000.00/yr tax sriteoff for my wife who made 90000/yr and thats all it was. I had nothing to show after 4 years except tax and fuel bills of about $30000. I am not stupid, I am married to a tax accountant manager, I have a college education, I am a pilot and a certified Master Aircraft Mechanic and I couldnt make it on 130,000 mile/yr.
     
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