Lease Purchase Program is a DIAMOND CAGE. Its better to be a company driver. My email: talkabouttrucking@gmail.com. Dispatch Course: miranda-c-s-school.teachable....
Thank you for making this video Miranda. Now I know what to watch out for. The guy in my company who convinced me to become a lease-operator is about 6 months away from paying off his truck and was telling me about the bad loads he's getting. Now it makes sense. My takeaway from this? Make sure I have $ saved (or increase my credit limit) so when I'm getting close to paying off the truck, I can just pay off the balance. I enjoy your videos. Helpful info 💯✔ & you're easy on the eyes!😏
The issue lies in the truck note amount and the percentage pay ti the truck. Most leases are paid 75-88%. And some are full maintenance. So the company will cover breakdowns. If you can manage to get a truck note around 500$ a week, get a good dispatcher, get fuel discounts, you could do very well
The owner operator you used to compare, has a lead foot. Or an older truck incapable of achieving good fuel economy. I'm a lease purchase driver, leased to another company. Not the company I leased from. My average has been 2.23 a mile all miles, loaded and empty. Before expenses. That said, I made less than the O/O. But only because I have an extremely high monthly payment. The difference is marginal in the end. Less cost for fuel, insurance, and maintenance. Throw my payment back in. We're within $3k of each other. Factor in cost of paperwork. I'm guessing we're about even.
Lead foot- I learned a new term! Yes the fuel economy is definitely not great, especially because he runs through mountains most of the time. This video doesn't apply to everyone of course. The goal is awareness for those who might end up in an unfavorable situation. That being said, of course I understand that each situation is different and unique :) Stay safe and happy holidays!
Question, can a non CDL holder start a lease option with a company and than hire a driver for the term of the lease. If so, what could be offered to the driver to make it worth his/her while
When you lease a truck you are responsible for repairs right ? Because I keep seeing ppl say stuff about maintenance charge being taken out every week so does that mean all lease ops don’t pay for repairs themselves or all lease ops pay a maintenance fee a week ?
Hi I’m new to the industry , if I’m an owner operator and have my dot ,mc number & my truck ready.. your saying I can basically rent my truck to a carrier? Or company?!? Will I have to provide a driver with the truck?? Thank your channel been helpful.
If you have your own MC and DOT numbers, I would recommend you run under your own authority. This means that you book loads for yourself and take care of your own expenses. Do you have insurance in place? Usually, lease on is done by those with their own truck (and possibly trailer) who dont have an MC and DOT number. THey lease onto a carrier and run under the carrier's numbers while getting a % of the gross of each load :)
Your videos are generally great but this is total bs. There may be a company or two out there that pay owner operators and lease ops differently but I don’t know of a single one. Mega carriers like Prime may screw people, but they screw people equally across the board. Even their lease ops make more than their company drivers. Knowledge is power and you give a lot of it on your channel. Keep it accurate. Keep up the great videos!!
I appreciate your feedback and insight. While I agree that not all companies do this, just looking at the job board, I can see that there are a few mid sized carriers who pay their lease purchase drivers pretty badly. For example, John Christner Trucking advertises lease purchase driver jobs at "up to $1.45 per mile for a TEAM", which is so low. Then there is Freymiller that pays Lease Purchase Drivers $1.12 per mile base plus FSC on all miles...also pretty crappy. Then there are other companies that pay 75% of gross for lease purchase drivers which is similar to owner operators. The goal here is to show what can happen when you become a lease purchase driver with companies like I mentioned. You make more in gross income, but your expenses also creep up to the point where you are left with almost nothing. Thank you :)
@@TruckingMadeSuccessful Those companies do pay horrible but that’s not the point your video was making, it was that lease ops are paid less (gross) than owner ops. John Christner Trucking pays their owner ops the same sad $1.40 - $1.45 per mile they’re paying their lease ops and Freymiller has the craziest program I’ve seen where they pay out 75% IF you have your own authority and use their network lol. My point is that lease ops and owner ops generally will gross the same under the same company. Who nets more is based on expenses. I’m yet to see a company paying less per mile or a smaller percentage to their lease ops than their owner ops. Thanks for the reply!
@@naimles264 Ah! I see what you are saying now, thanks for clarifying! So for owner ops, the reason I say 75% is because thats what we pay our owner ops who have their own truck and trailer and lease on to our carrier. I should have clarified that in the video. But yes, I see your point. If the majority of companies were to pay the exact same % or cpm to lease ops and owner ops, the gross would be the same.
@@TruckingMadeSuccessful 75% is really decent, especially for the care and effort you seem to take choosing your brokers and booking loads. Thanks for the continued videos, I hope to see your channel grow more and more!
At Prime, lease ops can decline loads all day long if pay is not to your liking. Even with fuel prices the way they are, I'm netting atleast 2500 a week, and that's on the lower end. But yes, truck payment is ridiculous and thru the roof. Still netting atleast 2500. Still not a bad deal if u ask me. And our company drivers don't even come close to what I net per month.
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Thank you for making this video Miranda. Now I know what to watch out for. The guy in my company who convinced me to become a lease-operator is about 6 months away from paying off his truck and was telling me about the bad loads he's getting. Now it makes sense. My takeaway from this? Make sure I have $ saved (or increase my credit limit) so when I'm getting close to paying off the truck, I can just pay off the balance.
I enjoy your videos. Helpful info 💯✔ & you're easy on the eyes!😏
I was thinking in purchasing lease program with SFI but I’ll keeping company driver and save to my new truck thank you for your videos.
You just made me SnapBack to reality really quick with that board…I guess I will remain company until I can owner op lol
You are very smart lady.
Great information
Great video
The issue lies in the truck note amount and the percentage pay ti the truck. Most leases are paid 75-88%. And some are full maintenance. So the company will cover breakdowns. If you can manage to get a truck note around 500$ a week, get a good dispatcher, get fuel discounts, you could do very well
The owner operator you used to compare, has a lead foot. Or an older truck incapable of achieving good fuel economy.
I'm a lease purchase driver, leased to another company. Not the company I leased from.
My average has been 2.23 a mile all miles, loaded and empty. Before expenses. That said, I made less than the O/O. But only because I have an extremely high monthly payment.
The difference is marginal in the end. Less cost for fuel, insurance, and maintenance. Throw my payment back in. We're within $3k of each other.
Factor in cost of paperwork. I'm guessing we're about even.
Lead foot- I learned a new term! Yes the fuel economy is definitely not great, especially because he runs through mountains most of the time. This video doesn't apply to everyone of course. The goal is awareness for those who might end up in an unfavorable situation. That being said, of course I understand that each situation is different and unique :) Stay safe and happy holidays!
oppss...opssss.opppss.. wwwoppsss hahah... love it
Question, can a non CDL holder start a lease option with a company and than hire a driver for the term of the lease. If so, what could be offered to the driver to make it worth his/her while
When you lease a truck you are responsible for repairs right ? Because I keep seeing ppl say stuff about maintenance charge being taken out every week so does that mean all lease ops don’t pay for repairs themselves or all lease ops pay a maintenance fee a week ?
You prefer someone goes company save money and buy a used truck and then lease on ?
I didn't see what she wrote on the board... ooof, she's gorgeous 🥵
Hi I’m new to the industry , if I’m an owner operator and have my dot ,mc number & my truck ready.. your saying I can basically rent my truck to a carrier? Or company?!? Will I have to provide a driver with the truck?? Thank your channel been helpful.
If you have your own MC and DOT numbers, I would recommend you run under your own authority. This means that you book loads for yourself and take care of your own expenses. Do you have insurance in place? Usually, lease on is done by those with their own truck (and possibly trailer) who dont have an MC and DOT number. THey lease onto a carrier and run under the carrier's numbers while getting a % of the gross of each load :)
I would Never buy. Leasing is far more flexible. Company driver .70😂😂😂😂😂 lease omly 1.20 per mile😂😂😂
Your videos are generally great but this is total bs. There may be a company or two out there that pay owner operators and lease ops differently but I don’t know of a single one. Mega carriers like Prime may screw people, but they screw people equally across the board. Even their lease ops make more than their company drivers.
Knowledge is power and you give a lot of it on your channel. Keep it accurate.
Keep up the great videos!!
I appreciate your feedback and insight. While I agree that not all companies do this, just looking at the job board, I can see that there are a few mid sized carriers who pay their lease purchase drivers pretty badly. For example, John Christner Trucking advertises lease purchase driver jobs at "up to $1.45 per mile for a TEAM", which is so low. Then there is Freymiller that pays Lease Purchase Drivers $1.12 per mile base plus FSC on all miles...also pretty crappy. Then there are other companies that pay 75% of gross for lease purchase drivers which is similar to owner operators. The goal here is to show what can happen when you become a lease purchase driver with companies like I mentioned. You make more in gross income, but your expenses also creep up to the point where you are left with almost nothing. Thank you :)
@@TruckingMadeSuccessful Those companies do pay horrible but that’s not the point your video was making, it was that lease ops are paid less (gross) than owner ops. John Christner Trucking pays their owner ops the same sad $1.40 - $1.45 per mile they’re paying their lease ops and Freymiller has the craziest program I’ve seen where they pay out 75% IF you have your own authority and use their network lol.
My point is that lease ops and owner ops generally will gross the same under the same company. Who nets more is based on expenses. I’m yet to see a company paying less per mile or a smaller percentage to their lease ops than their owner ops.
Thanks for the reply!
@@naimles264 Ah! I see what you are saying now, thanks for clarifying! So for owner ops, the reason I say 75% is because thats what we pay our owner ops who have their own truck and trailer and lease on to our carrier. I should have clarified that in the video.
But yes, I see your point. If the majority of companies were to pay the exact same % or cpm to lease ops and owner ops, the gross would be the same.
@@TruckingMadeSuccessful 75% is really decent, especially for the care and effort you seem to take choosing your brokers and booking loads. Thanks for the continued videos, I hope to see your channel grow more and more!
if you need assistant. let me know I like to be a part of the journey :)
Leased operator with own authority vs leased onto a company... More responsibility with own authority. Lol
Most lease purchase ppl are glorified company drivers who are forced dispatch
Yes 100%
At Prime, lease ops can decline loads all day long if pay is not to your liking. Even with fuel prices the way they are, I'm netting atleast 2500 a week, and that's on the lower end. But yes, truck payment is ridiculous and thru the roof. Still netting atleast 2500. Still not a bad deal if u ask me. And our company drivers don't even come close to what I net per month.