CRST Facts & Journal

[truthtalker1]

I wanted to start this journal for the new drivers looking for info on the CRST lease purchase program.

First, I am a driver of 11 years, during that time I have owned two trucks of my own; one I bought outright and then sold and the other a Lease Purchase.

I have yet to find a Lease Puchase program that benefits the driver. My last lease purchase experience was with a company called Express Freight Systems out of Chattanooga, Tn. I regularly stayed out for four weeks at a time and still could not be profitable, I found them to be extremely dishonest; they are now bankrupt. Therefore, I exercised my right to void my lease agreement. LOL!

After that, for the last 8 months, I have exhaustively looked at various lease programs. At a distance, it seems as if CSRT has about the best lease program in the industry. I say "at a distance" because I have not started yet. However, I have crunched the numbers many times and think that I can be very profitable in their program. We will see!

I start orientation on Monday. It is actually first class so far... They have rented me a car! When I get there they pay you back for your gas in cash!

You can expect me to be honest. I have been in the industry 11 years and have heard it all and seen it all. I will not report any bad unless I can support it with facts.

Anyway, I will keep you posted.

[BanditsCousin]

I rented a truck from penske for cheaper than what the LP companies offer trucks for, with 0% commitment.

Think about it, but be optimistic.

[Piece Of Work]

Good luck, most leases are a rip off due to higher fuel.

[truthtalker1]

Thanks. The truck payment is suppossed to be 306.00 a week as compared to my last lease which was 580.00. Like I said we will see!

I will be sharing the details of my lease agreement and settlements for the next few months - minus my ss# and Name. He! He!

That way we can see it on paper together and also that way if I end up quitting, we shall quit together and you will be able to see if my reasons are well founded or not. LOL!

[truthtalker1]

I rented a truck from penske for cheaper than what the LP companies offer trucks for, with 0% commitment.

Think about it, but be optimistic.

Yes you are correct most leases are like that. We shall see!

This one is 306.00 a week and it is a walk away lease.

[Sheepdancer]

Leases are tough. You have to be 100% committed to make it. They are not for everyone. Ive been recruiter for quite some time and after these years im finally getting quite a few drivers who finished our LP. In fact, in the last 2 weeks Ive had three. Everytime a driver finishes the lease they are routed to corporate and I get to sit down and talk to them. I have found out a lot of useful information about what they did to succeed in LP when a lot of drivers fail.
1. Even though its no forced dispatch, they never turn down loads.
2. Even though LP drivers can get home every two weeks and even sometimes every week. The successful drivers are very flexible on this and stay out as long as it takes to make it. Even if its a month at a time.
3.Even though its flexible hometime and a LP driver can stay home as long as he wants the successful drivers tend to never stay home long.
4. The one thing they all said that also stuck is they said they run smart. They said a lot of drivers just dont get this. They said you have to treat it like a business investment. You have to save money, run smart, keep your idle time down. be smart when buying fuel and you can make it work.

Like i said, its not for everyone. You have to be committed, you have to focus on the future 3 years down the road, when you have a paid off truck and then making really good money.
I always tell my recruits that if they can find a way to buy the truck from a dealer, do it. However if you have questionable credit or other problems, this CAN BE an option for you is you are willing to work harder than you have ever worked to make your dream of being an owner operator happen.

[spencerian]

1. Even though its no forced dispatch, they never turn down loads.
I never turned down a load. Ever.
2. Even though LP drivers can get home every two weeks and even sometimes every week. The successful drivers are very flexible on this and stay out as long as it takes to make it. Even if its a month at a time.
I stayed out up to 6 weeks.
3.Even though its flexible hometime and a LP driver can stay home as long as he wants the successful drivers tend to never stay home long.
I had 4 days home in 3 months.
4. The one thing they all said that also stuck is they said they run smart. They said a lot of drivers just dont get this. They said you have to treat it like a business investment. You have to save money, run smart, keep your idle time down. be smart when buying fuel and you can make it work.
This was me too. my idle percentage was less than 8 percent. My mpg stayed at 6.2 every week.

I was also "proactive". I called every shipper and receiver. If the load could be there early it was.

Sorry to hijack the thread, but I did a lease and lost. It seems there has to be some higher power (read DM's and load planners) that determine success in a lease. Although the lease was not with CRST, it was a lease all the same.

[merrick4]

I was in California the other day and I saw a guy and a girl in a CR England truck. The girl ended up being behind me in line and I got to talking with her. She was with a trainer and she planned on leasing to to CR England. She was raving about how good the company was and their training is top notch. Yet she admited that her trainer was barely able to make his payments until he took her on as a student.

I told her I had no experience with them and I don't know her so she doesn't need to listen to me, but I asked her "have you done your research? this is company has a bad reputation"? She claims she did her research and that she plans on teaming with a partner to share expenses and she is going to start her own trucking company. I wished her luck and left. As soon as one turns in a truck there will probably be 2 more to jump right in.

By the way, I called Penske the other day for a quote and this is what they gave me:

Week;ly $575.00/.13 cents a mile.
Monthly $2275.00 /.10 cents a mile.

Deposit would be $7,500 cashiers check and a credit card for weekly payment, also mileage will need to be called in weekly to maintain current billing


I don't know if it's cheaper in other parts of the country. This was in S.E. Florida

I forgot to add, that there is no maintenance cost with this penske deal. They pay for everything according to them. Banditscousin could probably better speak on that.

[Sheepdancer]

Im just going by what the drivers who actually made the LP work tell me. And that is exactly what they say. In fact those drivers I hired that finished the program do most of my recruiting of lease purchase drivers for me. They do the selling, send them to me...and I just sign them up.

[truthtalker1]

Gentleman, we can speculate all day, but in a few weeks; I will paste my actually settlement sheets into this thread minus my name and SS#, of course. I will regularly post them for a few months; then we all shall see what is the truth about the CRST LP program.

By the way, I am not defending or knocking CRST at this point. However, I would be the first to say that I have yet to see a LP that benefits the driver and brings more net income than that of a company driver.

However, I thought it would be nice to actually post the results of my experience that way you get facts and not vain babble.

[truthtalker1]

Ok, here is an update for all who are interested.

First, if you are planning on being a LP at CRST, they rent you a car or in some cases fly you in to the Cedar Rapids, IA Terminal for orientation; this is a luxury that they do not give to students or company drivers. I arrived in Cedar Rapids, IA on Monday via a rental car that they paid for; that I picked up from the Nashville International Airport Budget car rental terminal. I have not seen any others companies bring there drivers to orientation this way.

The orientation class in Cedar Rapids, IA was pleasant; I found the instructors to be very polite and professional. You have a choice between a 2005 Freightliner Columbia or possibly an 2003-2004 international if there are any available. I chose a 2003 international and here is why: It still has nearly 6 months of bumper to bumper warranty left on it and 75 weeks of free Preventative Maintenance left on it. My total lease contract is only for 75 weeks which means I will own the truck after 75 payments.

Allow me to elaborate: normally a Crst lease agreement is for 156 weeks or 3 years; however, if they have had a previous driver leave in the middle of the lease you simply pick up the lease where he left off, which means, you may have a shorter contract. This is what I did, my lease is only for 1yr 5mo; and then I will own the truck. I should make you aware that there is a 5000 dollar balloon payment at the end of the lease; it is never any more don’t matter what truck you have.

So here are some of my lease details, Truck payment is 305.72 a week for 75 weeks, the first 6 months is bumper to bumper warranty and after that PM is done by Crst for the rest of the lease.

$75 a week Escrow 13 total weeks until $1000 is reached
$75 a week for License and Permits
$25 a week for Physical Damage
$15 a week for Qualcomm
$305.72 a week for truck Payment
$7.50 a week for Bobtail insurance
$3.25 a week for Trip Pak
.11 cents a mile for 100% BUMPER TO BUMPER WARRANTY

These are your total fixed weekly deductions minus fuel!

You are paid 70% of the gross load plus FS which brings the LP fleet average to about 1.40 a mile including fuel surcharge.

I am sure there are things I am leaving out and I will be happy to answer any questions.

I picked Crst after examining LP Programs from different companies and what I found is that they are for the most part all the same; however, I picked CRST for the following reasons in order:

1. Walk away Lease (no hidden language in the contract).

2. Bumper to Bumper warranty for the first 2 years of the lease and Pm only for the last year. (This can vary depending on whether you get a shorter lease).

3. Cheaper truck payments only 305.72 a week.(as opposed to Prime near 800.00 a week).

4. You can lease up to five trucks and put drivers in them.

5. I believe CRST is the company that sets me up best for success.

Hope this helps; this is an honest representation of reality thus far at CRST.

[truthtalker1]

Oh by the way, One big advantage is LP'S are also paid TWICE A WEEK!

ON Tuesdays and Thurdays.

[Jumbo]

This may make for some interesting reading.

[BanditsCousin]

I paid $545/wk, 10 cpm It varies from location to location 8)

[truthtalker1]

I thought I would add... Crst is not just a team operation as so many think. If you are a LP you can run solo, which is what I am doing.

Anyway, So far things are very well here. As I said I will have my truck paid for in a year because I picked up a shorter contract.

I will let tose interested know when I get my first settlement.

[Bigmon]

$75 a week Escrow 13 total weeks until $1000 is reached
$75 a week for License and Permits
$25 a week for Physical Damage
$15 a week for Qualcomm
$305.72 a week for truck Payment
$7.50 a week for Bobtail insurance
$3.25 a week for Trip Pak
.11 cents a mile for 100% BUMPER TO BUMPER WARRANTY
[/quote]

.11 a mile would be $1100 per month if you did 10,000 miles a month. What kind of warranty is that? Sheeeeeet...you could just by a 2nd truck for a back up if 1st one breaks.

[truthtalker1]

The Warranty is bumper to bumper.

However, listen my intent is not to defend CRST but just to tell you the facts; so here is an update:

Ok, here is an honest look of how it has been going over here at CRST. Again, I am a solo driver (11 years) who is purchasing a truck from CRST. I got a truck that was returned by a driver who did not finish his contract; only 70 weeks left in the lease, and then I own the truck.

Below you will find my pay for a period of the last 11 days of work; I ended up setting over the Memorial Day weekend, which caused me to loose 3 days; normally it should be a little more.

1. PAY #505--------- RATE-2.20 70%-1.54 PLUS FS-281.88 MILES 870 MINUS-0.11 MAINTENANCE FUND GALESBURG, IL TO AURORA, CO FUEL-454.34 LUMPER-150.00 PROFIT – 921.64

2. PAY #505-------- RATE-1.57 70%-1.09 PLUS FS-166.32 MILES 792 MINUS-0.11 MAINTENANCE FUND WINDSOR, CO TO ROANOKE, TX FUEL-341.83 PROFIT – 600.65

3. PAY #505-------- RATE-1.09 70% -0.763 PLUS FS-350.00 MILES 1000 PLUS 75.00 STOP PAY MINUS-0.11 MAINTENANCE FUND FT. WORTH, TX TO HOPKINSVILLE, KY/ MIDWAY,TN FUEL- 508.00 PROFIT – 570.00

4. PAY #506-------- RATE-1.67 70%-1.169 PLUS FS-182.78 MILES-703 PLUS-200.00 STOP PAY MINUS-0.11 MAINTENANCE FUND LOUISVILLE, KY TO 1ST-KANSAS CITY, MO 2ND- KANSAS CITY, MO AND 3RD- WICHITA, KS FUEL- 291.04 PROFIT - 836.21

Minus – 2 truck payments, permits, licenses, qualcomm, and $1000 required escrow (75.00 a week). Total deductions-1075.00

Total Profit-1853.50

I had planned on pasting my actual settlement into this post but I have to get a scanner to scan it in first. Plus I only go home every three weeks to get my settlements.

Anyway, so far my only gripe in sitting to wait on a load longer than I want.

I will give you guys another update at the end of June. At this point I will be able to see my income for my first full month (June).

Hope this helps.

[brian griffin]

Truth:
i wish good luck to you. (you'll need it)


Merrick:
Can i ask which Penske location you inquired at?

At first penske would not rent to me. Ryder would and it was $400wK/.08cpm. $5000 dollar deposit and i had to link my co bank account to them at do an ACH.

i then got a friend of mine to talk to the branch manager at Penske and by some miracle we were able to rent from them.

[truthtalker1]

Here a new update 6/22/07:

I am thoroughly disgusted!

First, let me start by pointing out the following 1] I do not take advances from my company. 2] I turn in all my trip sheets in a timely manner (as soon as i am empty I make a beeline for the truck stop todrop my envelope into trip pak).

Since my last post, it has been a steady downhill decent at CRST. My last two checks have been in the hole; specifically, 1] -136.27 2] -61.38 ; this is due to sit time and low miles. In fact, I figured it last night my average sit time waiting on them to find me a load after getting empty is 26+ hours and my average miles since starting has been 1774 a week. These two have sent my profitablity into the red! In fact, I have taken money from my personal account to live on the road and now have not been able to put anything back in.

In my last post I spoke of my profitablity, but I soon realize that it really wasn't profit. They had not taken truck payments out for the first two weeks because they claim they are tryting to help. However, as soon as they started taking them out it sent me into the red.

I have made several attempts to speak to the director of the LP division, but he will not speak to me; his name is Shawn Martin.

I have come to believe that the CRST LP PROGRAM IS A FAILURE! I sit here at home broke and with no income because of their inability to run an LP fleet. I have a truck in my driveway and no money to get it back to their terminal or to get myself back home to Tn after returning it; i am broke. If I make them come and get it then it is abandonement on my Dac.

At this point, I am more concerned with setting things straight at home; I am married and have 3 kids.

I would like to thank CRST for wasting my time and depleting my resources; in my 11 years of driving I have never been treated with such disrespect and been lied to as much as at your company.

I will paste my pay statements for all to see by the end of the day they are jpeg images.

[Cluggy619]

Well, like everybody has said, a lease program is only good for the company.

But here's a thought...you got their truck, and maybe their trailer..why not put them to work? Is their anything in your contract stating you can't find your own loads?

I ask this because I can't figure out why anyone would lease and truck, then let it sit. But that's just me, and I don't know what is stopping you from doing the same.

And even if it is in your contract, why let it sit in your drive? You got payments to make, just because they want to hang you out to drive doesn't mean you have to be broke.

Just a thought.