I drive past this smaller outfit daily with a sign offering:

Net Lease: Earn $.62 per mile to start. We pay all fuel, licensing, truck insurance, road taxes, IFTA and 2290.

What would that leave you paying for? Truck, keeping it maintained, meltdowns? Anything else?

 

I'd stay away. They'll probably pay fuel only if you get X fuel mileage. etc..

and the "to start" scares me as well.

 

Kinda depends on how many miles they give you. If your truck mait & repairs cost you $10,000/yr that still leaves you $.52 for ROI and your wage/benefits/pension as a driver. I agree with Allan....depends on what's in the fine print...or isn't in the fine print.

 

There are several companies out there offering a net lease...most of them out west. They do, in fact, pay everything they say. But ponder this: $.62/mile as a self-employed is roughly the equivalent of a company driver making $.50-.52/mile. Considering that you still have to pay, at a minimum, for the purchase and maintenance of your equipment, is it really worth it? Would be an easy answer for me, but every man has his own ideas.

 

For the desperate O/O's out there who at least have low truck payments or a paid for rig this would be one way to find a 50 cpm job if those are rare in the area. I just drive past this sign daily and wonder what the fine print could be. I'm sure they'll be monitoring your idle and mpg as if you were a coolie company driver.

 

I'd suggest being a company driver at those rates. I'm not an expert on company driver rates, but, when you strip off the rest of the o/o expenses, you're probably still making more as a company driver and you avoid the headaches... just my opinion.

 

Taxes will take 30% right off the bat.
15% self employement
15% SS

Thats 18.6 cents a mile, leaving you with 43.4%

Also if you had to pay for health benefits, like you would get at a company job, now you're talking big bucks

Take out Maintenance, truck repair,etc....

Company is saving a ton on you if you go that route.

 

There is a reason for that big sign out front.

 

Wait six months and you'll be able to do waaaaay better, once this soft economy weeds out the weak ones...

Of course you could probably do better than that now.

 

You wish... :roll:
And to original question;-No, it ain't worth it!