What am I missing?

Talked to my new company (PTL)...

They are offering this:

2009-2010 ULTRASHIFT Prostars or T-660's. Immediately i'm uninterested, but I hear the guy out.
Weekly:
450 Payment
250 Maintenance
50 Truck Insurance
60 Trailer Insurance.
Weekly Payment: ~800.

Fuel: Currently, ~$4.00/Gallon.
Pessimistic MPG: 6 (we do a LOT of 45,000 loads in them ###### east coast mountains)

Pay: 92 CPM+37C surchage= 1.29/mile.


Figuring 75 cpm for fuel, leaving 54cpm as actual pay. $800 payment = 1500 miles.

1500 miles before I make a dime. 54 cpm after that, say I do their 'average' of 2600 Miles/week.
1100 Miles @ 54cpm= $594 bucks bring home, before taxes.
Current, if i do 2600 miles, I make ~$1,000.
Why in gods name would I do a company lease purchase?

I realize that my numbers are scewed to be pessimisted, but we're truckers.... It pays to be ###### pessimistic.


3 year lease, btw. 156 payments of 450=70,200 on a truck ALREADY 5 years old.




The recruited i talked to vehemently poo-pood by idea of Lone Mountain trucking, saying they were crooks and yadda yadda. That he 'thought' PTL was actual going to refuse to accept trucks through them. LOL, I figured... that made them sound even better!

$4200 down and $1350/mo for 36 months= 52,800 on that same 5 year old truck. Still high, but w.e.
Is lone mountain legit? Its obviously a better deal on paper, but how about in actuality?

 

Havent dealt with lone mountian but the bs about not accepting trucks from them would have me running from ptl. Dont forget that anytime their truck breaks down their sky high payments keep going. Be down a week and you work for free for three to get back to profitability.
$60/ week for trailer insurance sounds like bs too. Id be looking ito other copanies but generally I would stay away from company lp plans

 

Flease purchase programs are genius. Why trade a truck in for little money when you can beat a driver into leasing it for top dollar, plus driver will have to spend his money repairing the truck so it is in better shape when they repo it because the driver went bankrupt. These companies are smart, since they aren't making a fortune on the actual trucking, they are all becoming truck dealers and finance companies. This also should get them out of paying benefits as well. If there was a song about flease purchasing, it would be called , "Stairway to Bankruptcy".

Adam

 

you would be way better off buying an 2007 pick a flavor (FLT,KW,INT et c etc) for 40k paying $900.00 per month and leasing on with a carrier.

 

Very true. Keep in mind though that the $250/wk should still be set aside to take care of breakdowns. Thegood side is that you would control it instead of having to fight with a carrier to get it at the end of your lease

 

company's tend to have a different set a rules for L/O O/O ... Freedom?

 

Why they chatge 250 a week for maintnance maybe they figure you gotta run so dam hard you need a oil change every week id tell I know how to run a grease gun

 

Yes that sounds like a very one sided, in favor of the company, lease deal. Add to that that you may not have been pessimistic enough. 2008-2010 trucks are the true dogs of the industry when it comes to fuel mileage. I wouldn't be suprised to see you get only 5.5mpg with those trucks.

 

2007 is the biggest dog in fuel economy.

you can buy your own truck and work off the public load board for more money that what PTL wants to pay. and your truck payments on your own would be more then half.

can't figure out why anyone wants to FLEECE for $.90 cents per mile. and $.29 FSC. the going rate for FSC is $.50.

course, i was told england pays 90 and 18 on the FSC.

 

09 pete and kw got close to 6 in the west mountains. 6.5 in the flat land. almost 7 if the load was small and light. and that's pulling flat bed

13 FL can't even hit 5.5. unless it gets a good fuel blend.