The basics?? Maybe or maybe not...

Where to start, I'm looking into becoming a owner operator but plan on getting my truck by leasing it from a company (such as Prime inc.). I know I know it's a stupid idea and ill get screwed over and won't make any money and will hate it and wish I never did it and I might as well save and buy a used truck so I don't have payments cause leases are designed to help the company and screw the drive with a 12 foot pole. No need to hear that cause I already heard it and read it a thousand times on here, I'm willing to take a shot at it and give a gods honest opinion about (not bad mouth it cause I messed up and spent too much money at the bar or got that sweet cb radio from roadster communication that has all the lights and echo and stuff I don't need but want). This isn't something I'm going to just jump right into, I plan on researching for about 8 months and doing whatever I can to get a understanding as life as a owner op or lease op. trust me I have a lot to turn and I'm going to touch on that in a minute and hopefully you all can help. Enough with the ranting on and on about nothing lets get to business.

first that I can think of and is killing me cause I been reading about it for the last 3 hours is FUEL SURCHARGE!!! How in the hell does that work? I seem something online about if fuel is 4.088 then something something something .66/mile. Call me stupid but does that mean you get paid .66 a mile for fuel or what? Bare with me I know nothing about fuel surcharge at all!! That's my main worry. I seem another thing that said something like if gas is 4.00 a gal then the rate increase is .52. Hold on now, something just clicked in my small brain!! Does this mean if I'm getting .80 cents a mile then .52 cents will go to fuel?? Am I right?

next question is something ill ask a recruiter but won't hurt to ask you all, is primes parents weekly or biweekly or monthly? I ask this cause their website says the payment is between like 600-950 depending on the truck. It also says that the average weekly revenue for reefer truck is 3,500 but you get 72% of that, how in the hell do you make money if that's the case and truck parents is due every week?

Okay enough questions for now cause that question was pretty dumb in my defense cause I just made it look like leasing is not the way to go. It's past my bedtime if I'm not making any sense lol my main question is fuel surcharge. Feel free to add in whatever I should know, hell call me a ###### if you like there will be no offense taken. Fill me in you alls journey through the owner op or lease purchase life. In 8 months ill either make the biggest mistake of my life or the best. I'm hoping to make it the best, for now ill just save save and save some more. Thanks for baring down and reading my craziness.

 

It seems like a good way to get a newer truck then buying a older one that you don't know how it's been driven or anything. I know prime says they do the fuel surcharge. There is a lot of people on here saying it sucks don't lease and a hand full of people that love it. I look at like this, if another person can do it so can I. The lease seems like a pretty good deal to me, I keep in mind that most people talking bad about a company on here has more to the story then what they are telling, they saying the mistakes that they as the driver did. I read some on here saying that they had a negative check or just enough to eat or whatever it maybe be, I'm willing to take a chance and manage every dime I spend to make it work out. Part of my plan is to have at least 5000 in the bank just to start out and keep adding. Like say I get 3100 a week and pay 1100 for payment and insurance that leaves me with 2000, okay so now fuel, I managed to keep the miles low and revenue high so I only spent 1000-1200 in fuel. I can make it on 800-1000 a week knowing that ill have something in the end, I would make that as a company driver but wouldn't have a truck or anything.

most finance places want 25% down or something like that and with my credit I know I would be putting a lot down that at the time I really don't have. I wanna lease with a carrier cause its 0 down and no credit check, you get a bonus for leasing and I plan on having that go to fuel. I have done time to think of a plan cause ima drive on the company side for 3 or 4 months then lease.

Why wouldn't you lease?

 

Thanks highway101. Some reason my phone won't let me thank you. But I plan on getting sometime under my bed before leasing. I was thinking maybe 3 or 4 months then jumping into it but I might wait 6 months to a year, ill see how ready I feel once the time comes. Yea I'm a student but I come from a long line of truckers but they are being stubborn trucking and ain't spreading the love lol they was saying not to even drive and what not, but its always been a dream of mine so I'm going to chase it and chase it hard. There ain't nothing wrong with setting high and hard to achieve goals. I'm not expecting to become a billionaire but I do plan on making a nice living once I own the truck.

Highway101 how long you been leasing with prime and what's some advice and how has the journey been so far?