Thinking of leasing a truck, owners please help with advance.

Hi everyone, I've been driving a company truck for almost a year, now I'm at 44 cpm, and thinking of leasing a truck. Just want more freedom with my schedule and where to go. So the question is what's an average cpm pay when you drive your own tractor? How does it work with trailers? Penske offers tandem axle sleepers for $3790 a month +$0.20/mile for rent. Is it worth it? I've just started digging about this, so any information will help. Thanks.

 

Let's say you run 10k miles a month. Your rent would be $5790 per month or $69480 per year just for the truck payment.

You would have to haul some really really high paying loads to crack that nut.

 

Are you sure you have the rent right? That's $6000 a month?

 

At that rate your truck rental alone would be $0.48 before you pay for your fuel and insurances.

 

My guess is whether it's worth it or not depends on lots of unknowns. For example, even though your monthly rental might not be as much as a company rental, what other expenses will a company make you pay because to them, you're an O/O, not one of their lease holders? It's way more than just the monthly rental. Seems to me you have a lot of legwork before you consider that avenue, driver.

 

Ummm well you better do your homework, start by asking drivers that have been down that route

 

I would expect it to turn into optimus prime at the touch of a button for that kind of money

 

Uhhh no, just no.
Save your money and buy a used pre emission truck for $10k, have some money saved for repairs and rent a trailer at first.
Do you plan on leasing onto the same company you drive for now? Do they have age restrictions?
If the answer is no to both of those, find a company to lease onto first.

 

What about trailer rental?

Will the Penske truck lease include a back up truck when your's is down?

Do you even have a contract yet with someone that will actually have you haul for them?

I am not sure any leasing company, Penske, Ryder, Ruan, for instance will even write up a lease till you have a "promissory contract to haul" when you go and even look at trucks. Then you need IFTA, insurance, etc,etc.

You had better get (I'm thinking) at the very least $1.50 to $2.25 per mile. If you are unknown and I think you are, you'll have to prove that you are worth the money.

 

For those kind of dollars, you could BUY a 3-4 YO used truck, and own it outright in a few years.