Can you make more money running your own truck? Yes. Will you make more money? Maybe. It's a big maybe too. $4-10k/wk gross is a pretty big swing there. If it's closer to $10k, sure, it's worth the hassle. Even after expenses you'll never make that kind of money driving a truck for somebody else. But those are probably not typical weeks either, and if they are they won't be for long...there's always a downturn in freight right around the corner. If it's only like $4-5k/week, yes you're still taking home more than an $80k/yr job after expenses, but not a whole lot more, and that's not money you can spend like a W2 paycheck either, so you're probably living on about the same amount of money as the well-paid company guy is. As a small business owner, you'll be paying yourself a salary out of your revenue for the week/month whether you consciously realize it or not, but most of that money has to go back into the kitty to fund operating expenses, maintenance/repair bills, and of course your tab with the IRS and state at the end of the year. (At least if you're smart and want to stay in business most of that money goes into the business account and stays there.) Well paid company guy doesn't have to worry about any of that stuff...they even deduct your taxes and you usually get a refund at tax time for cyrin' out lout. That'll never happen running your own truck. But most importantly the company guy doesn't have the truck to worry about. That's a whole new level of responsibility and financial liability that will really smack you in the face if you aren't prepared for it. Even if you are, like I said you might think it's fun for a couple or a few years and then realize it's kind of wearing you down a little bit being a 1-man show and possibly not worth the hassle if the money's not "enough better" than a good company job. But I wish you luck and don't mean to rain on your parade. Just a different perspective and some things to think about.
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Why would anyone get into a lease purchase????
Discussion in 'Lease Purchase Trucking Forum' started by haz-matguru, Sep 25, 2020.
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Neither will a smart employee, but most don't understand that the refund is the government giving their own money back to them.bzinger Thanks this. -
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So for those who are in leases, or those who are ok with leases. Who would you go with and why. ? I ask because i see some companies with what I think is ridiculous leases, but I have never leased a truck before. A "PRIME" example is being into a lease well over $1000 a week (after all the stuff they add on ) . Like I said I dont know anything about leasing a truck but $4500 a month (or whatever it runs) before you even put a drop of fuel in the truck seems crazy to me.
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I find the idea of paying close to $100 a month, just so I can get it back as a "bonus", after filing paper work, to be demeaning.Last edited: Jun 3, 2021
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2. F2F
3. Landstar
Main reason my truck isn’t leased through them. So no chances of being sabotaged at the end of my lease. Second reason with the first 2 I get to pick my own freight off any load boards of my choosing. And get 80% of all of my loads. Landstar because they have a good reputation among L/O and O/O and I heard their load board is pretty good and no trailer rental fee. -
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Leasing lets you see what it's like to own a truck before buying one and can offer more money than company positions, thus allowing a person to save up to buy their own truck.
The 2.5 years I leased between JCT and TransAm let me pay off some old large debts, give money to my mother to pay off some of her old large debts, help get a desperately needed new roof for her house and some new major appliances, and put a 20% down payment on the truck I bought at the end of 2019. It honestly worked out very good for both of us. Took both of us from living paycheck to paycheck barely able to pay bills due to the interest on old debts to not having to worry about living expenses.
Granted that's not typical, you have to be willing to work hard and actually save your money. Two things not commonly seen in today's society.bzinger Thanks this. -
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