13,000 every 60k might seem a lot at first. But he is getting a new truck every 6 months and that is important if you're running hard. Less breakdowns, plus no out of pocket repair expenses = more time hauling loads.
Higher cost, more loads you gotta run to pay for it. You're paying for those repairs whether they happen or not with every mile you turn. It's not exactly a win.
@@ericweredyk4142 Thing is you can bank a helluva repair/downtime budget with the difference, and ownership gives you equity in it. Most big issues don't happen until later on a brand new truck. Until then it's warrantied.
@@dchawk81 I have an Enterprise truck For my business. I have a client that bought the same type of truck that I have. His truck has been in and out of the repair shop Since he bought it a year and a half ago. While it's in the shop, he is not offered a loner Vehicle of any type. Therefore he has to keep a spare dually truck. Just so he has a vehicle to haul with when his new truck breaks down. Me on the other hand. I had one minor issue with the fuel gauge reading incorrectly. They brought me a brand new truck.
@@timbodnar6711 I've addressed that already. Think about this for a second: Enterprise profits off of you. *Buy* the truck and that money goes to you instead of them. The ONLY upside to this lease agreement is that you don't pay anything when the wheels don't turn (according to TP). So a scaled down payment when the freight is slow. If you hump it with this thing you're losing because you're paying way more than you need to. You can afford that second truck or even a third. Get people driving for you.
I appreciate you being straight forward and to the point brother. Most people never give pricing or instructions for anything. Great video my friend! Keep them com’n!
Tanks do not scratch the bed when installed properly with rubber underlayment. A tank means fewer fuel stops and longer runs tanks pay for themselves in time spent on the road vs time spent in line waiting to fuel up. No tank = 300-600 miles. Tank = 900-1600 miles. Not to mention with a tank you can almost always hit the cheaper fuel.
What people are not understanding about his numbers is the added scheduled maintenance if he had bought the truck. Given the miles he runs the scheduled service interval (15,000 miles)are due monthly. The 30,000 miles every other month. Tires probably every 6 months. If you add the cost of that to a straight purchase, he is far better off with the lease that he is in. If the truck goes down they simply give him another truck. I’ve seen people get a brand new spec ordered dually and have the tranny blow up in 6 months and be out of business yet still owe the note on a truck that they can’t get fixed because of commercial use
Yeah this is the real issue to me with hot shoting, is our truck even the 550's are not really "commercial vehicles". They are really not made to be run day in and out for tens of thousands of miles. This is kinda the reason I'm really skeptical of buying a new truck for this stuff. It's the reason I bought a used truck and something I can fix reasonably cheaply.. Anything with a DPF system is a big no no for me...
David You’re right about that! My $4,000 single axle day cab Sterling will out haul and outlast any $70,000 dually. I think a f-750 cab and chassis is a far better option than a 350 in price or durability
Besides a new truck often and no repairs, the biggest thing about a lease is on taxes. You can deduct the full lease payment from your taxes, if you are buying the truck you can only depreciate the truck and claim that (I think, it's been 14 years since I leased a truck)
My husband was watching a pile of your videos today. He said he was watching one more…when I came into he room, it was over…and closing with the roads in our area! Hope you weren’t hauling across anything after 9:45 …that’s a tight squeeze! 😂👏💪👋
Brother! I am 100% green at all of this but very interested.. would you mind doing a months end breakdown of all your associated costs? Totals on fuel, maintenance, taxes, factoring, insurance, the whole shabang! Your knowledge is very much appreciated
Let me say this Fay is a LIFESAVER!!!!!!! Bar none she will work with you. I got my truck F350 but my trailer wasn’t ready for another week. She used part of my down payment to cover my 5000 miles per math. No over head and a new truck every 5-6 months!!!
If you at all find time. I'd love to hear about your experience and gain some knowledge. I'm looking to get I to hotshotting and it would greatly help to hear the best practices of going about it. I am a CDL A holder and have been since 2017. Wanting to do something different and this honestly just feels like a better option for me as opposed to being back in a rig right now.
Rather if this is for you or not this guy holds nothing back gives you straight up info unlike some of these truckers out that are greedy af and only say how much they net and not how they got it this isn’t my line of field but I salute you stay safe
Called the enterprise he uses today, said that’s they are “indefinitely” out of vehicles, and that it would be well into 2020 before they had anymore available.
The enterprise here in Memphis on Brooks road does this same program I’m stuck trying to decide if I want to grab a hotshot rental Or lease a 26ft boxer from Penske and run amazon
Alex, do your thing homeboy! In your previous video I clearly remember you stating this is what works best for you....then I read all these comments from the good idea ferry’s and they all want to poke holes in your process. To them I say go kick rocks! I’m glad to see you on the come up and I’ll meet you on the objective!!!
A lot of people argue good or bad about leasing or new vs old but in the end it comes down to what you make.. I ran a lease truck at Prime as example and I made in my pocket nearly $70k my 1st year as a driver. There is no where I'd make $70k my 1st year as a company driver with no experience. On the flip side I know guy who probably didn't pocket $40k for a year doing the same thing. According to to Piglet, he says on the road all the time, so if he does that he can make money even paying .20/mile.. For the record I was paying Prime $1,5k/week and I still made money.. The biggest problem I see is the .20/mile min 5k miles.. 1,250 miles a week is nothing.. At least it was nothing for me doing OTR.. I had multiple weeks over 3,5k miles and did over 4k miles twice in the time I was driving a big rig.. With that in mind you can easily end up paying $2-3k/month in a lease like this but it's good that there isn't a time limit but rather a mileage cap.. So no matter what it's roughly $13k.. Now on the flip side.. I recently bought a 05 F350 with blown head gaskets. I paid $5k for the truck, I just spent roughly $3,8k in parts for new heads, studs and all the obvious things that should be done to the motor while fixing the HG's. I'll have a bit under $10k in the truck and I bet you it last me a year easily and I can still sell the truck at the end..
about the scratches in the bed just go to a feed store and buy a stall mat its about 3/4 inch thick covers 75% of the bed and only costs about $50 bucks or less
I’ve leased from enterprise for 4 years in jersey. I get a new truck every couple of months and they take care of all maintenance. I’m in the concrete business and it is rough on everything from trailers to trucks. It is a complete write off too. Makes a lot of sense.
After this breakdown. I would say this is the best route for a beginner. It eliminates you dinging your credit for a career path you may not want to take and getting your 3k is a big bonus! Even as a seasoned owner, I think this is a good idea just not have to worry about breaking down as the truck ages because you are always in a new one.
I am really glad I found your channel. You do a great job of filling your videos with great information and I really appreciate that. I don't know how you find the time to get this done but you are serving your country sir. Lol
I'm starting into this with a few runs under my belt. However, I need to ride with someone experienced to show me the ropes. If anyone needs a co-pilot let me know. I have an impeccable driving record.
Excellent view into your operating system. Many will benefit from your insight and help them decide what this scenario involves. I'm just a curious guy and not a transporter, thank you for sharing. Also, your work ethic and desire to share, openness, is admirable.
Just like the Proverbial Lease to Own. The Company makes the money you do the work. I've owned 8 of my own Class 8s with my Authority for more than 40 years, I didn't have to rely on a Tricky Broker. This young man will have to Pay the Monthly Dip if he runs and makes money or Not! I too wish him luck!
I think an extra tank is a great option if you can. You save some 20 minutes here and there and save a few bucks buying cheap diesel when possible. But still once you are used to a routine it is better to have it like that.
If yall take the time to fix your credit; you can get a new or decent used truck around $700-$800 per month. Guess what you get a warranty with that. Also in order to get commercial insurance that's about $3500 for down payment. That's not including all the documents you need to legally haul commercial freight.
Everyone is focusing on how much he is spending. All that really matters is how much is he making, what he has to go through to make it, and if it fits the path he wants for life. Sounds like he is making a calculated decision to me. Seems like his profit is around $.75 per mile. Better than signing on for .33...... Keep on truckin' Piglet!!
Buy a rubber bed mat for $150... cut slots in it for those rails, and then move it from truck to truck. Will do a GREAT job in protecting the bed from everything. I've had a bed mat in my last two Dodges (same mat) and it's fantastic. I put it in there because despite a spray-in liner, when I used to snowmobile, the carbides on the snowmobile skis are so sharp they were slicing through the spray-in bedliner. They didn't even put a mark in the rubber mat. As for the lease itself, I may end up going this route if I'm unable to buy a new truck here in a few months as I've been hoping. Appreciate the info!
Get a horse stall mat from a ranch store. 3/4 inch solid rubber made for 2k pound horses to stomp around on with metal shoes. Also, they're about a 3rd of the price lol.
Actually trucks you purchase are also a tax write off. But what makes a little better deal is ya can write the whole thing off in the year you purchased it. A $70,000 write off is great especially if you had a great year. But you should never buy a truck for the tax benefit. Cash is what your looking for.
KFStreich Not sure y’a were writing to me..But there are countless different trades buy their equipment at the end of the year because they have had their taxes done and know how much they would save by being able to drive their tax money and not give it away.
According to my calculations... if you bought a 70000 dollars truck loaded with all the goodies, if you paid yourself 22 cents a mile, you would have that truck paid off at about 330,000 miles. Why not just keep saving the 22 cents a mile and run another 300k miles after that for free and just buy another new truck for that.? If you bought a truck with a lower trim level, it might only cost 45k or so. It seems like you should just have the discipline to put the 22 cents a mile in an account only for the truck and you could come out better. What am I missing here?
At 10k miles per month you are at $2200 per month or $26,000 per year excluding maintenance and the up front $3700. That tradesman truck is prob $55k total. you would have a new one paid off in 2 years at the same payment schedule you are paying for this lease. Sounds like financing a new one is cheaper per year than this lease...
@@TowPiglet Assuming 120,000 miles a year you would be at 240k miles in 2 years. If you bought a tradesman for $55k it would be worth conservatively 25k at the 2 years. Thats $30k loss in 2 years or $15k a year. right now you are at a minimum $26k a year or $52k over 2 years. you are paying nearly double per year as opposed to purchasing. You dont need to wait 2 years to figure the loss.
@@Regal2800 Dont think maths is his strong subject hence he is still into his other truck for 18k, Agree with you REGAL he is paying out to much, but his credit history might be so bad he cannot get credit on low interest rates.
Regal2800 I see where your coming from but add in All the maintenance and even one major break down after your warranty is over and leasing might be better...
Regal2800 $25k is very optimistic, most likely $15k add brakes tires oil changes other repairs ones warranty is up or cost of extend warranty and you will be very close to $52k in 2 years. Lease advantages here is low down payment (refundable) and short term. Easy to walk away if you don’t like it. It’s a 6 month lease and u only pay $200 penalty per month if you end before your six month.also let’s not forget financial charges on 55k loan comes about another 5k making that $55k truck $65k truck after all fees and %
I was thinking about this the other day, there could be another advantage, they must sell the 60k trucks, I wonder what they sell for? It could be a good first truck
@@juliovaldez6310 stop beating on your cars! I hear this all too often, stop and go is hard, long highway aren't nearly as bad, but it's much easier to sell a 60k truck than a 120k trucker a 200k truck. If you aren't part of the enterprise management team you are just guessing their motives.
@@juliovaldez6310 there are a lot of reasons folks lease, it gives you an easy tax write off and in this situation when you hit that magic number it is done. I've seen plenty of excuses made up over the years, even his old truck with all the miles would have still been a great vehicle other than the body damage.
@@juliovaldez6310 and your fear is the precise reason it is such a great idea, it drives down the price and drives up the value. I picked up an 18 month old sprinter last summer for 50% of new price due to the 183,000 mile odometer, do you know how many repairs that $27,000 savings would buy me? It's all in the numbers, unfortunately most folks are horrid at numbers and will overspend on emotion. Paying full price for a 6 month old truck with 60k on the clock won't be a great choice, paying 50-75% of new value very well may, you could expect a 750,000 mile service life out of this truck with this transmission.
So you get loads that pays 1.80 to 1.95 per mile and than payout .22 a mile? Sounds like your Hustling Backwards. Get finance for a truck - (New Truck) establish your Operating Cost (Fixed & Variable) and know what "RATE" you can afford to move. Again -.22 per mile? How can you avoid sinking win there a continuous leak (.22 per mile) in your boat?
I'm a cdl-a conpany driver now. The whole thing that's holding me back from just buying my own truck is the loan. So at $1100 + + at month, starting new lanes, that concerns me.
My Dad always paid his truck 25 cents a mile he buys a new one every 200,000 miles. I think once I get up and running again I'm going to follow his model.
When I drove for CR England. They and all their competitors leased tractors for 450k miles/ 3 years. The trailers were leased for 7 years. If this lease keeps you earning. With a little wiggle room for the down times. It is good business! 60k miles seems like an odd number. But when market conditions change. It seems a bad situation would be short lived.
Great video, answered ??, hope it's cost effective for you. I think you like new trucks, and convenience to shoot over to Indiana and pick up a new truck. Something to be said for not paying for repairs and truck getting raggedy. Plus you always have new technology. Nice truck!!!!
It's not worth it guys. I use to lease a truck carrying a two car trailer, I paid 400 bucks a week flat rate. Yes there was weeks I had a good paycheck and other weeks I barely broke even. Because you got to realize this is not including the cost of the trailer, which if you financed is another payment, God forbid if you're renting that as well, then the cost of fuel.
New subscriber here - I watch a couple other hotshotter channels, and the big advantage you seem to have is your natural enthusiasm. If you keep a positive disposition during hard times, you will prosper in the long run. I am looking forward to see how you do. Good luck.
I just called Fey she laughed. Said call back in April maybe . She said no waiting list anymore . She basically said sorry not my problem and hung up....
Good info, 5k Miles per month doesn't sound like many miles. Ive been driving 31 years but no Hot shot driving, definitely looking into it. thanks for the info.
So the only problem I found with this.. which is a big one. You can’t put partial tags on an Enterprise truck. So that means you have to stay under 26,000 LBS. my fleet are all CDL Hot Shot drivers. That would not work for me. But good for non CDL drivers.
To me to lease a truck, they need to drop the price on the mile by half. I run usually 10k miles a month. That’s 2200 a month., times 6 is 13200.. I rather buy the truck and not worry about dings,stains and dents on the truck. Looks like to lease, is for a beginner hotshot driver that don’t rack many miles and can cut and leave if he/she doesn’t like hotshot.. my opinion
First rule of thumb. Never lease a truck you are using for a driving business. You can pre buy extended miles but keep in mind, if the wheels aren’t turning you’re not working. At the end of the lease you’re out all your money and you have to give the vehicle back. Bad idea for business or personal. Then you have the insurance issue with a leased truck. And heaven forbid ya have an accident. Always buy even if it’s used and ugly. Drove my Dodge 3500 for over 300,000 miles. Even if you sell it for junk, it’s your junk and money. Best advice-- pay cash.
Not to mention this is not including trailer. So unless you bought a trailer cash, you're either financing a trailer and paying a monthly payment on that too, or heaven forbid you're renting one of those as well.
Bud Phillips Bud you can buy a 40’ gooseneck for $10,000 to $15,000. The key word in that sentence is BUY. Buying your own equipment shows your commuted and your not just passing through. You need to establish credibility as a hotshot company for brokers to keep calling you.
I crunched some numbers to see what the overhead would be with a leased truck. Lets say you lease a truck twice a year, that's 120,000 miles. Like he said that's going hard. And I would agree, most people do not drive 10 to 12 thousand miles in 6 months let alone 1 month. Anyway, with 120,000 mile at .22 cents per mile is $26,400. Now to estimate fuel costs, as of 23 November the national average for diesel is 2.4 dollars per gallon, its hard to estimate MPG but I believe 12 mpg is a generous number. This is to include dead head or no trailer at all. Fuel cost as follows 120,000 miles with a average of 12 MPG at 2.4 dollars per gallon equals 24,000 dollars of fuel costs. Also the 3700 to begin the lease and another 3000 as the 700 is a one time fee equals 6700 Dollars. This doesn't include the cost of DEF fluid for your truck either or any misc equipment you may need. Either way the total for a leased truck not including fuel is 33,100 Dollars per year or every 120,000miles is what you will spend just to use Enterprise. To note they will cover maintenance costs. Either way that's a lot of money to be spending every year just to lease a truck. Where as a new F450 with good credit with a Lariat package and many options will run you about 1200 a month and another 350 for insurance with a total yearly cost of 18600 Dollars. Or a used truck for half that is another option. Either way you slice it 33,100 dollars per year to lease a truck is ALOT of money just to have a new truck with limited options twice a year and no maintenance costs. Edit: I watched your Lease Vs. Buy breakdown and I have to say you're right. The cost LONG term is where is does in fact shine.
Will enterprise allow u to put a sleeper in the back seat? Bcuz paying enterprise by the mile, insurance, ifta, and hotels changes the entire concept...
How about credit rating to get approved for the lease???? I could see myself doing this!!! Years ago I ran medical supplies to hospitals the money was good but this sounds better
I called the enterprise in Little Rock Arkansas and they do the leasing program also but the agreement is a little different 10,000 miles minimum 2,500 a month
My guess is that the bed liner is to cover the bed instead of repairing it, if they put it on 1st, they will have to re-apply the bed-liner at lease return, might as well just do it once, at the end, imho
Question why Ram ?? Not Ford. I’m cdl holder I drive for a big carrier company Ive only been driving for 3 yrs but truth be told you have open my eyes. I have a million question but they gradually been answered by you videos. Do u recommend team driver or solo
Crazy thing is I work at a ford dealership and consistently sign hot shot drivers at 13-1500 a month at 72 months. By the time they're 3-4 years in theyre always at 3-400k miles, trucks beat to death, and they're 10k upside down. Based on that alone, I would lease 10 times out of 10.
Be careful talking like that around here, many think I'm a fool for recommending the lease. I have almost 45k miles on this Ram now and can't wait to give it back to them and get a new Ford....🤫😂
@@TowPigletcome down to TX and buy it from me. lol (jk keep leasing) The current powerstrokes make serious power, but im really looking forward to the 2020's with the face lift, updated motor, and brand new trans...
@@TowPiglet i fully agree with you. Leasing seems to cost the same as owning without the stress of dealing with a 500k mile truck thats on its last legs. Even if it costs more, less break downs is still worth it.
Awesome the way you're giving more info on this Indiana enterprise lease thing works. Most people on here just guess about it. It's good to see someone whos actually going through it! Now do they only do duallies, or do they also do single wheel trucks if they have them? I can't remember if you said so in your previous video. Keep up the good work!
@@jamesorr2404 - Exactly! I use to change my 05 Dodge fuel filter at every oil change, Wix filter $17. The new Ram fuel filter looks identical to the 05 Cummins filter, Advance Auto $98. Fuel/water separator $63. dealership priced about $375 to change fuel filter and fuel/water separator. It is robbery. Buy a $80k truck, then get robbed at every service.
Is a 2014 Ram 3500 SRW with the 5.7l hemi. Quad cab short bed enough to start? I own the truck and purchased the lifetime warranty for it. It's got 53k miles on it. I'm to the point of it being too much truck for me fuel cost wise for the truck not pulling in any cash for me and I hate to let it go. I'm located in SE Michigan.
Hello, I’m in Southern California and researching the business. I’m trying to find out how the loads are coming out of Southern California. I am aware that DOT is a pain in Southern California, but I can’t research loads. I was wondering if you, or anyone, had any any insight on loads coming out of Southern California? Any insight is greatly appreciated.
Hey Alex, can you give us another update on your leased truck. Have you been paying more on the lease than you expected? I know you had mentioned that you’re running hard. Just wanted to know on the monthly cost on the truck with comprehensive insurance.
13,000 every 60k might seem a lot at first. But he is getting a new truck every 6 months and that is important if you're running hard. Less breakdowns, plus no out of pocket repair expenses = more time hauling loads.
Higher cost, more loads you gotta run to pay for it. You're paying for those repairs whether they happen or not with every mile you turn.
It's not exactly a win.
@@dchawk81 Definitely a hard choice to make. I guess he rather have less aggravations with less breakdowns.
@@ericweredyk4142 Thing is you can bank a helluva repair/downtime budget with the difference, and ownership gives you equity in it. Most big issues don't happen until later on a brand new truck. Until then it's warrantied.
@@dchawk81 I have an Enterprise truck For my business. I have a client that bought the same type of truck that I have. His truck has been in and out of the repair shop Since he bought it a year and a half ago. While it's in the shop, he is not offered a loner Vehicle of any type. Therefore he has to keep a spare dually truck. Just so he has a vehicle to haul with when his new truck breaks down. Me on the other hand. I had one minor issue with the fuel gauge reading incorrectly. They brought me a brand new truck.
@@timbodnar6711 I've addressed that already.
Think about this for a second: Enterprise profits off of you. *Buy* the truck and that money goes to you instead of them.
The ONLY upside to this lease agreement is that you don't pay anything when the wheels don't turn (according to TP). So a scaled down payment when the freight is slow.
If you hump it with this thing you're losing because you're paying way more than you need to. You can afford that second truck or even a third. Get people driving for you.
I appreciate you being straight forward and to the point brother. Most people never give pricing or instructions for anything. Great video my friend! Keep them com’n!
Tanks do not scratch the bed when installed properly with rubber underlayment. A tank means fewer fuel stops and longer runs tanks pay for themselves in time spent on the road vs time spent in line waiting to fuel up. No tank = 300-600 miles. Tank = 900-1600 miles. Not to mention with a tank you can almost always hit the cheaper fuel.
I'd need to stop every 3-4 hours to pee and stretch and wake up so I wouldn't be wasting time fueling up. I wouldn't need a tank.
More weight too if you’re non CDL…
Keep doing what you’re doing bro. There’s a reason why a lot of trucking companies lease their trucks. Thanks for all the info
What people are not understanding about his numbers is the added scheduled maintenance if he had bought the truck. Given the miles he runs the scheduled service interval (15,000 miles)are due monthly. The 30,000 miles every other month. Tires probably every 6 months. If you add the cost of that to a straight purchase, he is far better off with the lease that he is in. If the truck goes down they simply give him another truck. I’ve seen people get a brand new spec ordered dually and have the tranny blow up in 6 months and be out of business yet still owe the note on a truck that they can’t get fixed because of commercial use
Yeah this is the real issue to me with hot shoting, is our truck even the 550's are not really "commercial vehicles". They are really not made to be run day in and out for tens of thousands of miles. This is kinda the reason I'm really skeptical of buying a new truck for this stuff. It's the reason I bought a used truck and something I can fix reasonably cheaply..
Anything with a DPF system is a big no no for me...
David
You’re right about that! My $4,000 single axle day cab Sterling will out haul and outlast any $70,000 dually. I think a f-750 cab and chassis is a far better option than a 350 in price or durability
Yup. And not to mention, the depreciation on a vehicle that costs 60 or 70k that has 120k+ miles in a year would be obnoxious to say the least
Besides a new truck often and no repairs, the biggest thing about a lease is on taxes. You can deduct the full lease payment from your taxes, if you are buying the truck you can only depreciate the truck and claim that (I think, it's been 14 years since I leased a truck)
My husband was watching a pile of your videos today. He said he was watching one more…when I came into he room, it was over…and closing with the roads in our area! Hope you weren’t hauling across anything after 9:45 …that’s a tight squeeze! 😂👏💪👋
Brother! I am 100% green at all of this but very interested.. would you mind doing a months end breakdown of all your associated costs? Totals on fuel, maintenance, taxes, factoring, insurance, the whole shabang! Your knowledge is very much appreciated
Let me say this Fay is a LIFESAVER!!!!!!! Bar none she will work with you. I got my truck F350 but my trailer wasn’t ready for another week. She used part of my down payment to cover my 5000 miles per math. No over head and a new truck every 5-6 months!!!
If you at all find time. I'd love to hear about your experience and gain some knowledge. I'm looking to get I to hotshotting and it would greatly help to hear the best practices of going about it.
I am a CDL A holder and have been since 2017. Wanting to do something different and this honestly just feels like a better option for me as opposed to being back in a rig right now.
Rather if this is for you or not this guy holds nothing back gives you straight up info unlike some of these truckers out that are greedy af and only say how much they net and not how they got it this isn’t my line of field but I salute you stay safe
Called the enterprise he uses today, said that’s they are “indefinitely” out of vehicles, and that it would be well into 2020 before they had anymore available.
Enterprise does commercial leases all day. With what evert trucks we want. I don't get this exclusivity deal..
The enterprise here in Memphis on Brooks road does this same program I’m stuck trying to decide if I want to grab a hotshot rental
Or lease a 26ft boxer from Penske and run amazon
@@og6340 how much is Amazon paying?
@@faustinogarcia5202 they was paying his last year not sure about now
Alex, do your thing homeboy! In your previous video I clearly remember you stating this is what works best for you....then I read all these comments from the good idea ferry’s and they all want to poke holes in your process. To them I say go kick rocks! I’m glad to see you on the come up and I’ll meet you on the objective!!!
A lot of people argue good or bad about leasing or new vs old but in the end it comes down to what you make.. I ran a lease truck at Prime as example and I made in my pocket nearly $70k my 1st year as a driver. There is no where I'd make $70k my 1st year as a company driver with no experience. On the flip side I know guy who probably didn't pocket $40k for a year doing the same thing.
According to to Piglet, he says on the road all the time, so if he does that he can make money even paying .20/mile.. For the record I was paying Prime $1,5k/week and I still made money.. The biggest problem I see is the .20/mile min 5k miles.. 1,250 miles a week is nothing.. At least it was nothing for me doing OTR.. I had multiple weeks over 3,5k miles and did over 4k miles twice in the time I was driving a big rig..
With that in mind you can easily end up paying $2-3k/month in a lease like this but it's good that there isn't a time limit but rather a mileage cap.. So no matter what it's roughly $13k..
Now on the flip side.. I recently bought a 05 F350 with blown head gaskets. I paid $5k for the truck, I just spent roughly $3,8k in parts for new heads, studs and all the obvious things that should be done to the motor while fixing the HG's. I'll have a bit under $10k in the truck and I bet you it last me a year easily and I can still sell the truck at the end..
S a lute u no what s going on.
Ewww
about the scratches in the bed just go to a feed store and buy a stall mat its about 3/4 inch thick covers 75% of the bed and only costs about $50 bucks or less
Thank brother for sharing your knowledge. Received a settlement for my company because of wreak and I plan on using this opportunity wisely.
Huh I never knew this and I work for Enterprise. This is pretty cool that Enterprise does this.
I’ve leased from enterprise for 4 years in jersey. I get a new truck every couple of months and they take care of all maintenance. I’m in the concrete business and it is rough on everything from trailers to trucks. It is a complete write off too. Makes a lot of sense.
You do the maintenance yourself? Let enterprise do it lol that’s more expenses to add up
@@SeattleHeights they do it
That was a great breakdown! Your series of videos are straight from the horse's mouth! Thanks for putting forth the effort.
After this breakdown. I would say this is the best route for a beginner. It eliminates you dinging your credit for a career path you may not want to take and getting your 3k is a big bonus! Even as a seasoned owner, I think this is a good idea just not have to worry about breaking down as the truck ages because you are always in a new one.
Looking at getting into hotshot...i have 2500 with 9 ft stake bed...would something like this be good for me???
I am really glad I found your channel. You do a great job of filling your videos with great information and I really appreciate that. I don't know how you find the time to get this done but you are serving your country sir. Lol
This helped way more then you think, Thanks brother
I called them and they told me they don't make a list anymore because hundreds of people are waiting i have to called them every month
Hey Alex, I’m enjoying your videos. I’d love to see how you set up your sleeper without modifying your back seat.
I’d rather do that my first year and have the chance to walk away if need be.
Exactly right
And you’ll lose your ass! You won’t make enough money hauling RV’s to pay a lease on a truck and make a living. Buy your truck you’ll be better off!
right
@@871jamie Jamie, his answer isn't edited and does not at any point refer to RVs
KFStreich nor do I care what you have to say. I voiced my own opinion which seems to have “triggered” you. You must be a liberal.
I'm starting into this with a few runs under my belt. However, I need to ride with someone experienced to show me the ropes. If anyone needs a co-pilot let me know. I have an impeccable driving record.
I did the math by several comparisons and scenarios to satisfy my curiosity. Your definitely coming out ahead with the lease.
Can you email me those numbers? towpiglet@gmail.com
Matthew Crockett don’t just say it. Prove it by showing the numbers. Tnx
Just saw y’alls replies. I’ll run them again and email TP
Junk Man I just emailed TowPiglet a one page case study based on high mileage and a 6 month term. Email him and he can forward it to you. 👍
Excellent view into your operating system. Many will benefit from your insight and help them decide what this scenario involves. I'm just a curious guy and not a transporter, thank you for sharing. Also, your work ethic and desire to share, openness, is admirable.
Wow, wow, wow, do some research, plenty of drivers have tried this, there is no pot of gold at the end of the rainbow.. God bless you, young fella.
Just like the Proverbial Lease to Own. The Company makes the money you do the work. I've owned 8 of my own Class 8s with my Authority for more than 40 years, I didn't have to rely on a Tricky Broker. This young man will have to Pay the Monthly Dip if he runs and makes money or Not! I too wish him luck!
That Class 8 is designed to be a commercial vehicles, and to haul for years on end. Pickups are not.
Awesome Video!🎥
I think an extra tank is a great option if you can. You save some 20 minutes here and there and save a few bucks buying cheap diesel when possible. But still once you are used to a routine it is better to have it like that.
Thanks Alex for helps people who wants to have more knowledge about this job and make the right decision
If yall take the time to fix your credit; you can get a new or decent used truck around $700-$800 per month. Guess what you get a warranty with that. Also in order to get commercial insurance that's about $3500 for down payment. That's not including all the documents you need to legally haul commercial freight.
Everyone is focusing on how much he is spending. All that really matters is how much is he making, what he has to go through to make it, and if it fits the path he wants for life. Sounds like he is making a calculated decision to me. Seems like his profit is around $.75 per mile. Better than signing on for .33...... Keep on truckin' Piglet!!
Jason Bennefield Exactly!
Looking for a non Class A driving jobs gooseneck trailer prefer
Buy a rubber bed mat for $150... cut slots in it for those rails, and then move it from truck to truck. Will do a GREAT job in protecting the bed from everything. I've had a bed mat in my last two Dodges (same mat) and it's fantastic. I put it in there because despite a spray-in liner, when I used to snowmobile, the carbides on the snowmobile skis are so sharp they were slicing through the spray-in bedliner. They didn't even put a mark in the rubber mat.
As for the lease itself, I may end up going this route if I'm unable to buy a new truck here in a few months as I've been hoping. Appreciate the info!
Get a horse stall mat from a ranch store. 3/4 inch solid rubber made for 2k pound horses to stomp around on with metal shoes. Also, they're about a 3rd of the price lol.
This video is more helpful than a lot of videos 🍻
Thanks for giving the actual numbers. Super interesting
Rentals are 100% write off on taxes. Good job! Congrats. New truck always baby yeah!!!
Actually trucks you purchase are also a tax write off. But what makes a little better deal is ya can write the whole thing off in the year you purchased it. A $70,000 write off is great especially if you had a great year. But you should never buy a truck for the tax benefit. Cash is what your looking for.
wolf folks who buy a truck at the end of the year for tax reasons probably forgot to set money aside earlier
KFStreich Not sure y’a were writing to me..But there are countless different trades buy their equipment at the end of the year because they have had their taxes done and know how much they would save by being able to drive their tax money and not give it away.
Great channel! I just found it and I’m hooked. Thank you very much for all the great information.
Brother l love ypu you answer theis question i was thinking aout it all day thanks alot to you
According to my calculations... if you bought a 70000 dollars truck loaded with all the goodies, if you paid yourself 22 cents a mile, you would have that truck paid off at about 330,000 miles. Why not just keep saving the 22 cents a mile and run another 300k miles after that for free and just buy another new truck for that.? If you bought a truck with a lower trim level, it might only cost 45k or so. It seems like you should just have the discipline to put the 22 cents a mile in an account only for the truck and you could come out better. What am I missing here?
bluebird5100 because of the maintenance and low down payment
The other main reason is I don't want to do this for another 3 years
@@TowPiglet i got you man. I was just wondering. I really like your videos and how you always smile. Thanks for all you do.
@@TowPiglet what would you do after hotshotting?
I'm not sure yet
3:50 be careful driving next to Swift homie!! :p
At 10k miles per month you are at $2200 per month or $26,000 per year excluding maintenance and the up front $3700. That tradesman truck is prob $55k total. you would have a new one paid off in 2 years at the same payment schedule you are paying for this lease. Sounds like financing a new one is cheaper per year than this lease...
I disagree however at the end of the lease I'll be making a video comparing the numbers
@@TowPiglet Assuming 120,000 miles a year you would be at 240k miles in 2 years. If you bought a tradesman for $55k it would be worth conservatively 25k at the 2 years. Thats $30k loss in 2 years or $15k a year. right now you are at a minimum $26k a year or $52k over 2 years. you are paying nearly double per year as opposed to purchasing. You dont need to wait 2 years to figure the loss.
@@Regal2800 Dont think maths is his strong subject hence he is still into his other truck for 18k, Agree with you REGAL he is paying out to much, but his credit history might be so bad he cannot get credit on low interest rates.
Regal2800 I see where your coming from but add in All the maintenance and even one major break down after your warranty is over and leasing might be better...
Regal2800 $25k is very optimistic, most likely $15k add brakes tires oil changes other repairs ones warranty is up or cost of extend warranty and you will be very close to $52k in 2 years.
Lease advantages here is low down payment (refundable) and short term. Easy to walk away if you don’t like it. It’s a 6 month lease and u only pay $200 penalty per month if you end before your six month.also let’s not forget financial charges on 55k loan comes about another 5k making that $55k truck $65k truck after all fees and %
On fuel tank go tractor supplies get a rub mat put under the tank it help and how much do you get a mile to pull
Put the tool box and transfer tank on top of a rubber mat. That will help with protecting the bed.
I was thinking about this the other day, there could be another advantage, they must sell the 60k trucks, I wonder what they sell for? It could be a good first truck
@@juliovaldez6310 stop beating on your cars! I hear this all too often, stop and go is hard, long highway aren't nearly as bad, but it's much easier to sell a 60k truck than a 120k trucker a 200k truck. If you aren't part of the enterprise management team you are just guessing their motives.
@@juliovaldez6310 there are a lot of reasons folks lease, it gives you an easy tax write off and in this situation when you hit that magic number it is done. I've seen plenty of excuses made up over the years, even his old truck with all the miles would have still been a great vehicle other than the body damage.
@@juliovaldez6310 and your fear is the precise reason it is such a great idea, it drives down the price and drives up the value. I picked up an 18 month old sprinter last summer for 50% of new price due to the 183,000 mile odometer, do you know how many repairs that $27,000 savings would buy me? It's all in the numbers, unfortunately most folks are horrid at numbers and will overspend on emotion. Paying full price for a 6 month old truck with 60k on the clock won't be a great choice, paying 50-75% of new value very well may, you could expect a 750,000 mile service life out of this truck with this transmission.
@@juliovaldez6310 hey, don't wait up for me, I've been doing this for 25 years and it hasn't let me down yet.
@@juliovaldez6310 my 2015 3500 Ram has 260 miles towing 25k on average and I've yet to have any mechanical issues.
Very good and clear information..thank you for sharing it with us..be safe out there.
Thanks for the info, just what I was hoping for.
So you get loads that pays 1.80 to 1.95 per mile and than payout .22 a mile? Sounds like your Hustling Backwards.
Get finance for a truck - (New Truck) establish your Operating Cost (Fixed & Variable) and know what "RATE" you can afford to move. Again -.22 per mile? How can you avoid sinking win there a continuous leak (.22 per mile) in your boat?
Thank you for sharing your experience and knowledge best hotshot chanal ever keep it up man
I'm a cdl-a conpany driver now. The whole thing that's holding me back from just buying my own truck is the loan. So at $1100 + + at month, starting new lanes, that concerns me.
Try hot shot 107
My Dad always paid his truck 25 cents a mile he buys a new one every 200,000 miles. I think once I get up and running again I'm going to follow his model.
That is actually a brilliant idea.
From
Where ?
When I drove for CR England. They and all their competitors leased tractors for 450k miles/ 3 years. The trailers were leased for 7 years.
If this lease keeps you earning. With a little wiggle room for the down times. It is good business! 60k miles seems like an odd number. But when market conditions change. It seems a bad situation would be short lived.
There's an insane price drop at 100,000 miles on 4 wheelers. Enterprise is trying to avoid it.
Great video, answered ??, hope it's cost effective for you. I think you like new trucks, and convenience to shoot over to Indiana and pick up a new truck. Something to be said for not paying for repairs and truck getting raggedy. Plus you always have new technology. Nice truck!!!!
It's not worth it guys. I use to lease a truck carrying a two car trailer, I paid 400 bucks a week flat rate. Yes there was weeks I had a good paycheck and other weeks I barely broke even. Because you got to realize this is not including the cost of the trailer, which if you financed is another payment, God forbid if you're renting that as well, then the cost of fuel.
New subscriber here - I watch a couple other hotshotter channels, and the big advantage you seem to have is your natural enthusiasm. If you keep a positive disposition during hard times, you will prosper in the long run. I am looking forward to see how you do. Good luck.
I enjoyed your video. Keep doing your thing.
It’s better than owning . New truck every 60000 miles ,that’s dream for hotshot.
Awesome rate on your lease!!! Thank you for the tip.
Are you allowed to make hole in their bed installing a hitch for a gooseneck. Thanx
Alex have you ever checked out Texas Pride TLR, They will build any Tlr you want and put any gross weight sticker , you want on it
Liking the information. Your to the point and I like it!! Just subscribed brotha!!
Great info buddy, I appreciate it. Thank you!
I just called Fey she laughed. Said call back in April maybe . She said no waiting list anymore . She basically said sorry not my problem and hung up....
Excellent video! Answered most of my questions.
Good info, 5k Miles per month doesn't sound like many miles. Ive been driving 31 years but no Hot shot driving, definitely looking into it. thanks for the info.
So the only problem I found with this.. which is a big one. You can’t put partial tags on an Enterprise truck. So that means you have to stay under 26,000 LBS. my fleet are all CDL Hot Shot drivers. That would not work for me. But good for non CDL drivers.
To me to lease a truck, they need to drop the price on the mile by half. I run usually 10k miles a month. That’s 2200 a month., times 6 is 13200.. I rather buy the truck and not worry about dings,stains and dents on the truck. Looks like to lease, is for a beginner hotshot driver that don’t rack many miles and can cut and leave if he/she doesn’t like hotshot.. my opinion
Right. Jmo.
First rule of thumb. Never lease a truck you are using for a driving business. You can pre buy extended miles but keep in mind, if the wheels aren’t turning you’re not working. At the end of the lease you’re out all your money and you have to give the vehicle back. Bad idea for business or personal. Then you have the insurance issue with a leased truck. And heaven forbid ya have an accident. Always buy even if it’s used and ugly. Drove my Dodge 3500 for over 300,000 miles. Even if you sell it for junk, it’s your junk and money. Best advice-- pay cash.
That's what I was thinking. $2200.00 a month is high even with free oil changes.
Not to mention this is not including trailer. So unless you bought a trailer cash, you're either financing a trailer and paying a monthly payment on that too, or heaven forbid you're renting one of those as well.
Bud Phillips Bud you can buy a 40’ gooseneck for $10,000 to $15,000. The key word in that sentence is BUY. Buying your own equipment shows your commuted and your not just passing through. You need to establish credibility as a hotshot company for brokers to keep calling you.
I crunched some numbers to see what the overhead would be with a leased truck. Lets say you lease a truck twice a year, that's 120,000 miles. Like he said that's going hard. And I would agree, most people do not drive 10 to 12 thousand miles in 6 months let alone 1 month. Anyway, with 120,000 mile at .22 cents per mile is $26,400. Now to estimate fuel costs, as of 23 November the national average for diesel is 2.4 dollars per gallon, its hard to estimate MPG but I believe 12 mpg is a generous number. This is to include dead head or no trailer at all. Fuel cost as follows 120,000 miles with a average of 12 MPG at 2.4 dollars per gallon equals 24,000 dollars of fuel costs. Also the 3700 to begin the lease and another 3000 as the 700 is a one time fee equals 6700 Dollars. This doesn't include the cost of DEF fluid for your truck either or any misc equipment you may need. Either way the total for a leased truck not including fuel is 33,100 Dollars per year or every 120,000miles is what you will spend just to use Enterprise. To note they will cover maintenance costs. Either way that's a lot of money to be spending every year just to lease a truck. Where as a new F450 with good credit with a Lariat package and many options will run you about 1200 a month and another 350 for insurance with a total yearly cost of 18600 Dollars. Or a used truck for half that is another option. Either way you slice it 33,100 dollars per year to lease a truck is ALOT of money just to have a new truck with limited options twice a year and no maintenance costs.
Edit: I watched your Lease Vs. Buy breakdown and I have to say you're right. The cost LONG term is where is does in fact shine.
Elkhart county, Indiana. The RV manufacturing capital. Forrest River, Jayco, Grand Design, Coachman, etc. are all here.
Wait a second...Did I just see a Swift driver pass you?!
Great information- Thanks. 🙏🏼
Thank you for explaining
Will enterprise allow u to put a sleeper in the back seat? Bcuz paying enterprise by the mile, insurance, ifta, and hotels changes the entire concept...
How about credit rating to get approved for the lease???? I could see myself doing this!!! Years ago I ran medical supplies to hospitals the money was good but this sounds better
My actual truck cost if I sell my f250 could be 8cents a mile or if keep running it it can go lower...
I called the enterprise in Little Rock Arkansas and they do the leasing program also but the agreement is a little different 10,000 miles minimum 2,500 a month
What branch
It’s the commercial enterprise it’s located on Roosevelt if you googled enterprises in Little Rock
So you never going to be a owner forever leasing ???
My question, why didn't they put a bedliner in the first place? Good information, thank you.
My guess is that the bed liner is to cover the bed instead of repairing it, if they put it on 1st, they will have to re-apply the bed-liner at lease return, might as well just do it once, at the end, imho
Question why Ram ?? Not Ford. I’m cdl holder I drive for a big carrier company Ive only been driving for 3 yrs but truth be told you have open my eyes. I have a million question but they gradually been answered by you videos. Do u recommend team driver or solo
Do you get your dot # through enterprise when leasing the truck?
no through FMCSA
Crazy thing is I work at a ford dealership and consistently sign hot shot drivers at 13-1500 a month at 72 months. By the time they're 3-4 years in theyre always at 3-400k miles, trucks beat to death, and they're 10k upside down. Based on that alone, I would lease 10 times out of 10.
Be careful talking like that around here, many think I'm a fool for recommending the lease. I have almost 45k miles on this Ram now and can't wait to give it back to them and get a new Ford....🤫😂
@@TowPigletcome down to TX and buy it from me. lol (jk keep leasing) The current powerstrokes make serious power, but im really looking forward to the 2020's with the face lift, updated motor, and brand new trans...
Austin Smith I'll be leasing the Ford too, I wouldn't buy a new truck for this kind of job ever again
@@TowPiglet i fully agree with you. Leasing seems to cost the same as owning without the stress of dealing with a 500k mile truck thats on its last legs. Even if it costs more, less break downs is still worth it.
I wish this was available for rig welders
Awesome the way you're giving more info on this Indiana enterprise lease thing works. Most people on here just guess about it. It's good to see someone whos actually going through it! Now do they only do duallies, or do they also do single wheel trucks if they have them? I can't remember if you said so in your previous video. Keep up the good work!
They do Ram or Ford
3/4
1 ton
1 ton dually
what about if truck breaks down? whose pays for the repairs?
So you can lease this truck and work anywhere either have your own authority or full under someone else’s authority?
correct
Great video, thanks. What about using a cargo van instead of heavy duty pickup, to pull a trailer? Thanks
That sucks they don’t do that here in Texas enterprise
They have box truck for leasing? great vid & info 👍 thanks 🙏
How do you get your loads? Did you have to buy a flatbed? What type of profit are you making after taxes and all expenses?
Great video and info! Thanks so much!
Wait until you get a cost on the fuel filter and water separator filter! This is a rip-off if you get it done at a dealership
@@jamesorr2404 - Exactly! I use to change my 05 Dodge fuel filter at every oil change, Wix filter $17. The new Ram fuel filter looks identical to the 05 Cummins filter, Advance Auto $98. Fuel/water separator $63. dealership priced about $375 to change fuel filter and fuel/water separator. It is robbery. Buy a $80k truck, then get robbed at every service.
Thanks for all the great information
Is a 2014 Ram 3500 SRW with the 5.7l hemi. Quad cab short bed enough to start? I own the truck and purchased the lifetime warranty for it. It's got 53k miles on it. I'm to the point of it being too much truck for me fuel cost wise for the truck not pulling in any cash for me and I hate to let it go. I'm located in SE Michigan.
Do you have to pick up and drop off truck in Indiana?
Alex top six questions you should ask a company when leasing on..I will take is insurance is included? 1 of the top 6..
Hello, I’m in Southern California and researching the business. I’m trying to find out how the loads are coming out of Southern California. I am aware that DOT is a pain in Southern California, but I can’t research loads. I was wondering if you, or anyone, had any any insight on loads coming out of Southern California? Any insight is greatly appreciated.
The Good
Southern California usually has man loads
The Bad
They all pay very little and when a nice load comes out, it's gone in seconds
Hey Alex, can you give us another update on your leased truck. Have you been paying more on the lease than you expected? I know you had mentioned that you’re running hard. Just wanted to know on the monthly cost on the truck with comprehensive insurance.
Try a walk away rental if you can. Ask if they have one and how it works.
Awesome informational educational video experience Y'alls. You should have just bought a truck. Leasing is no good ...
Leasing a truck is like renting a job. I wouldn't do it unless I get to keep it till its paid off and drive away with the title.
gostrydr but you have to remember, you can write off the whole “lease” payment each month unlike a conventional loan.