My promised report on Prime lease - after 7 weeks, I like it
#11
12-03-2006, 03:32 AM
Originally Posted by Crackaces
Originally Posted by GMAN
You state that you are clearing $1,200-2,200 per week after all expenses? Does that include fuel, maintenance, escrow and lease payments? I am curious as to what Prime pays per mile.
I can see paying about 1.50 for fuel since Prime has a contract program at that low dollar per mile. So 800 bucks for fuel and 600 for a lease payment computes.
#12
12-03-2006, 03:41 AM
Originally Posted by WildK9
I would be careful with that Prime lease, especially if you're solo, as I had the oppurtunity to speak with a gentleman(can't remember his name, I think it was Steve) who used to be some bigwig(or so he claimed) at Prime. He told me that Prime's leases are setup to fail for the solo drivers. He claimed that it's not too bad at first, to "hook" the driver, then near the end the miles drop off. Now, I can't say that what he says is true or not, but I would be very cautious. By the way,he is now working at some company that has a "unique" answer to owning a truck. http://xxfreight.com/ I DO NOT KNOW MUCH ABOUT THIS PROGRAM. I remember it was rather interesting, how it was setup. Definitely do plenty of research, before you sign anything in life!!
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#14
12-03-2006, 03:50 AM
Originally Posted by Malaki86
Originally Posted by WildK9
I would be careful with that Prime lease, especially if you're solo, as I had the oppurtunity to speak with a gentleman(can't remember his name, I think it was Steve) who used to be some bigwig(or so he claimed) at Prime. He told me that Prime's leases are setup to fail for the solo drivers. He claimed that it's not too bad at first, to "hook" the driver, then near the end the miles drop off. Now, I can't say that what he says is true or not, but I would be very cautious. By the way,he is now working at some company that has a "unique" answer to owning a truck. http://xxfreight.com/ I DO NOT KNOW MUCH ABOUT THIS PROGRAM. I remember it was rather interesting, how it was setup. Definitely do plenty of research, before you sign anything in life!!
#16
12-03-2006, 09:26 AM
Originally Posted by Malaki86
Originally Posted by WildK9
I would be careful with that Prime lease, especially if you're solo, as I had the oppurtunity to speak with a gentleman(can't remember his name, I think it was Steve) who used to be some bigwig(or so he claimed) at Prime. He told me that Prime's leases are setup to fail for the solo drivers. He claimed that it's not too bad at first, to "hook" the driver, then near the end the miles drop off. Now, I can't say that what he says is true or not, but I would be very cautious. By the way,he is now working at some company that has a "unique" answer to owning a truck. http://xxfreight.com/ I DO NOT KNOW MUCH ABOUT THIS PROGRAM. I remember it was rather interesting, how it was setup. Definitely do plenty of research, before you sign anything in life!!
Notice no where do they say how you get the truck. How long do you have to drive the truck before it is yours? Another item is it FORCED dispatch. Limited home time. I'd look long and hard before I would go very far. I question if it is legal. If you are a OOIDA member call them and have a talk with them. Remember -- There Is No Free Lunch kc0iv
#17
12-03-2006, 09:37 AM
My understanding you never get the pleasure of owning the truck, when the lease is up you turn it back in and lease a new one. I had a friend that worked in the safety dept. at Prime, he said they have a year policy on equipment and they would not lease or keep anything over 4 years old. So I guess you can buy it after the lease is up and take it somewhere else, I bet you pay a fortune for it. He also went on to say that they average 3-4 different lease drivers on a truck during its life span at Prime, one a year.
Lease Purchase= company driver with a truck payment. No you are not an owner operator. :lol:
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#18
12-03-2006, 10:00 AM
Ooops - I rechecked my settlements. I actually did about 3900 miles a couple of weeks. And one of my weeks I only cleared about $570.
My 8th week, I took off for Thanksgiving. I only had one load on my settlement for that week, so I lost about $100. And yep, this is after all expenses, except for taxes and food - it's the bottom line money to me. I don't know if it will be this good in January or February, but it's working for me now. Perhaps I've just been lucky so far, but I'm making more money than I ever have in my life. I'm gonna stick with it. Again, thanks to everyone, but it's time for me to stop posting and start driving! Good luck and safe travels.
#19
12-03-2006, 10:26 AM
Originally Posted by Big John
My understanding you never get the pleasure of owning the truck, when the lease is up you turn it back in and lease a new one. I had a friend that worked in the safety dept. at Prime, he said they have a year policy on equipment and they would not lease or keep anything over 4 years old. So I guess you can buy it after the lease is up and take it somewhere else, I bet you pay a fortune for it. He also went on to say that they average 3-4 different lease drivers on a truck during its life span at Prime, one a year.
Lease Purchase= company driver with a truck payment. No you are not an owner operator. :lol:
#20
12-03-2006, 10:55 AM
Originally Posted by mike3fan
and about 200-300 bucks a week for health insurance.
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