Summing up CRST Malone

If you are a successful O/O give yourself a pat on the back, because most seem to fail. I still maintain that if someone is gonna do it, they need lots of savings and lots of experience.

 

Lots of experience + many inquiring questions + bank roll + ability to think = O/O with freedom to call the shots.
Youth (or old fool ) + wide eyes + empty pockets + inability to absorb advice from those that went before = L/O with no freedom, eventually no truck and no money.
There are exceptions but i guarantee those are the few that know how to run and get it done for $$$$ -- some wise ones on this site said it best "Quote" : There are no back hauls !
I don't drive a big truck anymore but i can see this, if you have to try the lease purchase deal it would make sense to me to avoid a company that has their own company trucks -who do you think they will give the money load to first?
My apologies to the original poster - i think we steered away from his thread.

 

I was self employed for 25 years before I ever drove a truck. Got wiped out in the Great Recession, filed bankrupcy, lost almost everything, the whole sad litany. I didn't understand trucking but I understand business. Spent 3 grand to get a CDL but it became obvious to me in training at one of the mega companies that as a company driver I would work like a dog, make crap money, and have no control of my time. 34 hours a week at home looks a lot like slavery to me. The LP option was also an obviously bad deal. I'd be a slave to the truck and if things didn't work out for any reason, I'd lose any equity I had in the deal. Not quite slavery but definitely indentured servitude. I begged borrowed and scraped together enough to buy an old truck with 1.4 million miles on it that would pass a DOT inspection. By the time I got to orientation at Malone my wife was cashing in the change jar to pay utilities. Within 3 months we were caught up on bills. Within 6 months we were putting away money for taxes. Within a year we were buying some modest luxury items and taking care of some long deferred maintenance on the house. I was spending a lot more time at home and making twice as much as I would have as a company driver and not working nearly as hard. I didn't have much trucking experience, no savings left, and no credit. I don't even like truck driving. I made it work because I understand business, I have a high tolerance for risk, and frankly I was out of options. Don't tell me it can't be done.

I agree that being leased to a carrier isn't a real business but the same basic principles apply if you're going to make it. I also agree that it's difficult to manage the business working the hours required to get the job done. But it can be a stepping stone to your own authority. I also agree that a LP is a usually a mistake but I meet LP guys all the time that are doing pretty well. I even met a Malone LP guy who was working on his third truck, said he had the first two parked beside his drveway like "two lions". Go figure. I met another who had a 2010 Columbia with a payment of 950.00 a week. He was talking about turning it in and buying an '84 KW for 5k with 2k down. I told him to go for it.
The bottom line is you can do well leased to Malone or another carrier. Like any business whether you suceed or fail it's your own #### fault.

 

I think that maybe some of us mean, that lease purchase thing from a mega company with their own company drivers looks real bad and even the threads where i read about drivers doing alright were -one was a trucking sob you could tell by his thread --lots of drop and hooks and using every bit of his drive time.
Another was a couple - so you could take that as "Team " driving were basically the truck could be moving and making money just about all day and night.
CRST Malone looks to be O/O and lease purchase so i don't know if they have company drivers or not -little different than the big companies with company drivers.
I am sure or guess it can be done --but the original poster was expecting them to fuel his truck so you could figure he wasn't going to make it right of the bat .
You gregbo did it the right way as far as i could tell --Money first then bought truck - not bought truck paid big money every week.
Buddy of mine just bought 2000 freight shaker $15,000 (dont know the mileage on it) with a freshly overhead from freight liner decent condition with a APU. He sold his old truck 1998 FL for $8000.00 (dont know the mileage on that one ) he pulls containers within a hundred mile radius of home and does alright -he could do better but is a little lazy.
But what do i know about -never tried it -and i am sure it works for some but not others.

 

its too funny reading about these highschool grads who say they are sharp business men.
they lease purchase from huge company. they say they dont go home very often keep the left door closed for 11 hours dont spend a penny on anything and drive painfully slow.
theyre gonna own that million mile freightshaker someday.
it hurts my head to think about jumping on that treadmill.
i told dispatch im takin the weekend off. never work sundays. home every day.just cashed in 11 vacation days and spend money whenever.
im just not a sharp business man and very unprofessional !!!

 

Gregbo,

you hit the nail dead center on the head. Golden rule of finance, "It takes money to make money". With ANY business, you need to have three things to start.
1- Business plan
2- Experience and
3- Cash Reserves(start-up capital)

If you do not have enough money to sustain yourself for a minimum of 3 months, then you have no business getting into a business. How can you go into any business without money? Our original poster didn't have this reserve. If he had, then he would not have been in that predicament(running out of fuel). Even $500 would have gotten him through his mess. I am not trying to be a #%ck about this, nor am I picking on our original poster. This goes out to ALL potential LP's out there. Malone does NOT have to give you an advance on their comdata card. This is purely a good gesture on their part. They owe you nothing. They are being kind enough to defray some of the initial cost. In my opinion, they're doing you a favor. Even if you only receive a certain percentage of your expected fuel cost, you should be able to make it work. And if you can't, again, you have no business in this industry because you lack the experience to make it last.

You should start with a fuel fund with enough money for a least 2 weeks worth of driving. By then, your settlements should start arriving and you can replenish your account. Or put money into that comdata card (if you can). Either way, you need this fund.

You will also need reserve money in a maintenance account. I agree that Malone's maintenance program is pure robbery. How can you let someone take 12 cents per mile from you into "their" general maintenance fund and not get it back if or when you leave. Please, READ THE CONTRACT.

If you don't have enough money for a down payment to buy your own truck, then you shouldn't be a OO. Stay a company driver and SAVE SAVE SAVE. Don't get me wrong, I'm not saying that Malone is a bad company to sign on with, only that their L/P program or any L/P program is not worth it. Believe it or not, I am thinking about signing on with Malone. I am currently shopping for a truck and exploring my options. I have saved enough money and have driven for a few years and I'm ready to start my new endeavor. It wasn't easy but it can be done. You just need to be vigilant and have enough awareness to make it happen.

Educate yourself. There is a wealth of information out there. It is easier now more than ever. This blog is proof enough of that. What did drivers do back when there was no internet. They had to pound the sidewalks and visit companies or truck stops. There is no excuse for you not to avail yourself to the many resources that is available. READ READ READ! Take a class in business management. Do whatever it takes to learn the business side of being an owner/op. You already know how to drive (hopefully), now learn the industry. That comes with experience, my #2 requirement.

Will you be guaranteed to make it? Hell no. There are too many variables involved. But with any opportunity, there are risks. You can minimize those risks by being patient, aware, and knowledgeable. There is one more thing you need to possess, and that is PASSION. This being a service industry you need to have a desire to become an owner/op. This is all my own opinion. This is my plan and I'm sticking to it. (anyone get the reference)

 

I'm also not trying to be offend anyone, but I've been trucking for almost ten years... That said, EVERYONE knows that CRST is only "good" as a training company. Get what you need out of them and move on to far greener pastures. They are to be AVOIDED if you want to make a career in trucking, especially as a lease operator. Only someone numb in the head would lease on with a company that's notoriously bad news. Their name is written on every outhouse wall all over the country and NONE of it is good. Sorry you fell for the propaganda bud.

 

All i can say is.......WOW i havent been OTR in yrs ...its just not my cup of tea ,not knockin anyone some folks just like being on the road ...as for me i just get my butt to work monday morning ,pre trip ,hook up and go thru my day ,a normal day is around 10 to 12 hrs at 16.50 an hr its not the greatest pay scale but it pays the bills ...i feel bad for drivers like this one who fall for the big rig truckin man image ,while these companies eat these guys alive ,it always raises a red flag for me when someone is more excited about doin bussiness with me on their own drawn out platform ...ñot all trucking companies are bad ...as for me I MAKE THE MONEY IT DOESNT MAKE ME ITS ONLY A TOOL THAT SERVES ME ...if you fall in love with money you will never have enough of it ...it can destroy a marriage ,it can rob your children from you ,pump you full of pride which leads to a hard fall ....all because you wanted to be the big rig truckin man behind the wheel of a nice shiny black KW pulling into the TA ....wow look at that trucker with the torqois rings ,faded blue jean high way look and that mysteriose look in his eyes ....reality is this man is either devored ,hasnt seen his babies grow up half their lives or he has a very good woman at home waiting on him ....he has numbers floating thru his brain and lots money going thru his hands but not in his pocket because last wk was a bad wk because his fuel pump went out ,had to call a hook to pull him to the nearest truck stop with a garage ,those mechanics saw him coming ,two days in a bed bug motel ,got back on the road ,running late ,blew a tire kept going until a trooper saw him throwin rubber all over family folks on a vacation ,pulls him down on the side ,heres a ticket dont you dare get on my high way without a service call ,hasnt talked to another human accept CB and he knows if he listens too much of that total stupidity ,he will become just as stupid as they are ,heres the best part ...HE PAYS THE COMPANY REAL GOOD TO HAVE ALL THIS EXCITMENT AND THEY THINK HE IS THE BEST DRIVER THEY EVER SAW ,HE TAKES GOOD CARE OF MOST OF THE OPERATION FOR THEM ....sometimes they have to dumb him down alittle but thats not too hard to do when he is half asleep ,sometimes they have to pump some fear into him but thats not hard give him a hot load put heat on him ....if he as an additude make him camp in a TA parkin lot for 2 days ......they make sure he knows ,they will destroy his DAC report ,whatta great weapon that is to his future prospects

 

Why am I wasting my time bringing home 900 to 1200 a week after taxes as a lazy no good company driver. Sign me up for a lease somewhere,anywhere lol.

 

Thought u teamed there?