Quote:
Originally Posted by Mr C
General Question?
CR England has on their Web site ,for leasae purchase, an item that is called "Variable Mileage Payment" Computed at $0.14 per mile with $0.01 going into a Interest bearing truck investment fund, to be used as a down payment on a future truck purchase or for upgrades on future truck lease. What & where is the other $0.13 cents going or used for? For the annual compusation for a Solo driver that can be a healthy hunk of change.
What exactly is Variable Mileage Payment? I think I know but want to make sure I am thinking right. Possibly a driver who has leased from CR England can explain.
I would like a good explanation not some wild answers to down a company.
Thanks in Advance
MR C
In looking at the numbers, you would make as much working for a carrier as a company driver as you would leasing one of their trucks. In fact, you could probably make more and not have all the headaches that go along with renting something you will never own.
We have discussed these programs a lot on this forum. I have looked at these programs for years. I have yet to see one that works in the best interest of the driver. Most drivers want to become an owner operator. If that is what you want to do, then save your money for a good down payment and running money. If your credit needs work, then get your credit problems straightened out while you save money and get more driving experience. The best way to buy a truck is to pay cash. Most will not want to wait that long. Your alternative is to buy a truck using a lender. Renting or leasing a truck from ANY carrier is not a good idea. You will pay much less for the truck by getting it on your own. You will also be able to leave your carrier at any time without leaving your truck. You can buy a good truck for less than $20-25M. Right now you could probably find a good truck for less than $15,000. I am not talking about a junky truck, but something that will make you money without breaking the bank. You don't have to get a new truck to do well. The key is keeping your costs down. We are in a troubled economy. During difficult economic times it is much better to have low or no debt.