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Dry van spot freight was doing pretty well this summer in the low $2/ mile range but Im sure Schneider takes a portion of that rate before they quote it to their drivers so rates might be in the mid to high $1/ mile range ( just a guess). Trucking as an O/O is a game of averages since you will have good weeks and bad weeks, good months and bad months ect ect.. The funny thing about averages is that they fall fast but rise rather slowly. This is because if you lose 10% you need to make 11% back to break even. So while Im sure money can be made you have to be careful an be excellent at managing your business when your expenses are so high. Good luck with this program I hope it works out well but its easy to see why so many fail. Here is a chart of percentages so you can see when an average drops why its so hard to get back to even: Percentage Loss Percent Rise To Breakeven 10% 11% 15% 18% 20% 25% 25% 33% 30% 43% 35% 54% 40% 67% 45% 82% 50% 100% |
I just ran the numbers for a loan to purchase the same truck (same price of $147,000). With a 7.5% APR, no down payment, on a 48 month note, the payments are $3,554.30 per month.
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that's not the issue.
The issue is as a business owner, you wish to keep your fixed monthly expenses as low as possible.Having a $3500 fixed lease payment is almost impossible to maintain for an extended period of time.Seasonal slow times you will be drowning in that payment trying to make it an d all the other bills you have. Even my lease company I have has told me on new ventures, they don’t like to see a payment over $1500 per month. Companies that are established, they don’t like to see much past $2250-2500, MAX monthly payment |
Good Luck
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Malaki, if you don't mind..How is this program works? I mean %... And stuff like that..
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Most of this is copy/pasted from a PDF file they sent me. Hope it helps.
Edit: after talking to probably 15-20 different drivers on the percentage side, the average pay per mile, including FSC, is around $1.50-1.65. I haven't seen anyone say they've taken under $1.50, but sometimes they'll see loads that pay up to $2.20 or so. Those rates are the rates to the truck, not to Schneider. You have a choice between percentage and mileage pay. Mileage pay is a set rate (I forget what it is) + FSC. Percentage is 65%, plus 100% collected FSC and 100% of any accessorial pay (unload, extra stop, etc). Mileage paid O/O's are scheduled loads by a dispatcher. Percentage paid O/O's schedule their own loads via Schneider's load board.
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Well, you'll never know, unless you try... But it just doesn't seems right. I wish you the best luck, and count your money...!
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Tomorrow morning I'll be heading to Green Bay, WI for orientation starting Monday. On Thursday, we're released from orientation and take possession of the trucks. After that, anytime I want to scream at my dispatcher, I'll be standing in front of a mirror.
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