Just talked to JB Hunt
#1
11-17-2007, 02:11 AM
Just talked to JB Hunt
Here's the email he sent me
J.B. Hunt Lease-Purchase Program
Lease-Purchase Driver Compensation Package: 85 cpm, loaded or empty, for OTR lease-purchase contractors Fuel surcharge based on DOE average weekly price (adjusted weekly) $300/mo credit for each month remaining on lease to reduce residual (thru 12/29/06) Non-mileage / Accessorial pay, as follows: § $35 per additional stop, between pick-up & delivery § $2.25 per 1,000 lbs loading/unloading (company lumper service available) § $20 pallet jack use, per load § $50 for delivery/pick-up in any of the five boroughs of New York $75 per day for attending Orientation $50 payment, should lease truck not be available Short-Haul Pay Shuttle Pay of $25 per hour plus miles for local shuttle Discounts on fuel, tires, maintenance, and labor Referral bonus paid for drivers hired/contractors leased with J.B. Hunt Base plates & permits paid by company Scale tickets reimbursed by company Toll cards & passes issued (same as company OTR driver) Paid weekly (each Friday) via direct deposit or ComData® Access to services at J.B. Hunt shops and outsourced maintenance vendors Maintenance Service Agreement offered Full voluntary benefits package available Benefits Lessee will forfeit all benefits enrollments Lessee will terminate status as company driver prior to signing lease; upon termination, all company benefits will be discontinued Lease Drivers may inquire about Cobra insurance coverage by contacting the Benefits department; J.B. Hunt 401k enrollments will also terminate Equipment § No major modifications are permitted; Lessee may not make alterations that can’t be removed without damage to the unit (ie— paint, accessories requiring holes be drilled) § All major repairs must be coordinated with MOC. All maintenance, other than oil changes, must go through the IC Maintenance coordinator to insure quality of service and utilize truck warranty. § Lessee will be required to complete monthly maintenance reports of all work completed on the truck; reports must be turned in by the 15th of each month for the previous month. Reports are treated with the same priority as missing logs. § Quarterly maintenance inspections are required; J.B. Hunt will pay for the inspections, but all work required for trucks to pass inspection is the responsibility of the Lessee. Taxes and Deductions Lease drivers are responsible for self-employment taxes (all local, state and federal taxes, as applicable). J.B. Hunt does not deduct these taxes from weekly settlements. Lease drivers are responsible for all fuel use taxes. If the driver fuels within J.B. Hunt’s fuel network, $.01 cpm will be deducted from the weekly settlement for fuel taxes to be filed quarterly. A federal Heavy Vehicle Use Tax (aka: 2290) of $550 per year will also be deducted/filed for the driver. Deductibles are applied, in the amounts of $1,500 for property damage and $500 for cargo claims. The lease driver is responsible for the first $1,500/accident reserve for physical damage on a preventable accident or incident. If the reserve is below the amount paid by the driver, the difference will be reimbursed. Likewise, for reserved amounts on cargo claims. There is a $1500 deductible for third-party property damage; a $1000 deductible for damage to the drivers’ own tractor; $500 deductible for cargo claims. With-holdings and deductions will be made from the weekly settlement, as follows: § Truck payment: approx $1500 to $2000/ mo, based on model and odometer on unit selected § Fuel costs: all charges for the prior week § Insurance: Bobtail, $20/mo; Physical Damage, approx $130/mo; Occupational Health, $118/mo § Maintenance/Road Service: for charges closed out during the prior week § Fuel taxes, as calculated by fuel purchases; deducted weekly with fuel charges. (If fueling outside the company network and fuel receipts are not turned in to the fleet manager, the company will figure tax liability by the IRS auditing formula and charge for each quarter.) § Admin fees: Annual $50 admin fee; $20 Road Service charge per occurrence: $10 Comcheck® fee for personal advances § Equipment usage fees: $25/mo OBC usage § Escrow payments: $100/wk until total equals $3,600 for security deposit. The security escrow will only be released within 45 days upon termination of lease. A voluntary escrow fund may also be set up, at the driver’s request. This fund is accessible Monday through Friday, during normal business hours. (Examples of contribution rates: $.08 per mile for a 2002 lease unit; $.05 per mile for 2004 or 2005 model tractors.) * Driver may opt to use an accountant through ATBA (provided by the company) for a rate of $16.25 a week; this is optional but encouraged. * If a driver terminates the lease, he is responsible for all maintenance charges to bring that truck back to Freightliner® trade specs. If the driver lacks the funds to cover maintenance costs, the remainder will be taken from his required escrow. The driver must also pay any repossession charges associated with bringing the truck to Lowell or Louisville to be released. The lease also contains an early termination penalty; if a driver terminates before completing the lease, there will be a charge of $100 per week, up to $3600, for the remainder of the lease period. Process for Company Drivers Transitioning to the Lease Program Driver will be notified of acceptance into the Lease Program Driver will be notified of acceptance into the Lease Program Driver will be scheduled for orientation in Lowell or Louisville Fleet Manager will be notified and will route driver to home terminal to clean out truck and be terminated as a company driver A rental car will be provided for the driver to travel to orientation Drivers will go through a 4-day orientation class and be dispatched immediately Benefits Benefits are offered to Independent Contractors through USNow as of January 1st, 2006. USNow is not a division of J.B. Hunt, but an outside insurance provider that offers our contractors the opportunity to receive benefits at affordable group rates. For more information please call 1-800-694-9888, ext. 524. Contractors attending orientation at the Louisville terminal are also offered a second option, provided by TransAmerica through the Thomas Wilson Group; an outline of services is available by calling 1-866-893-1168. USNow Choice of medical plans Dental coverage, monthly: Driver $14; Driver & Spouse $27; Driver, Spouse, & Children $28; Family $40 Vision coverage, monthly: Driver $2; Driver & Spouse $3; Driver, Spouse, & Child $3, Family $4 Disability, monthly: approx $2 to $5, depending on benefit level Life insurance, Guaranteed Issue for entire family: up to $13, depending on age and smoking status Cancer coverage, weekly: $4.43 to $12.23 Professional services (including accounting and tax prep), weekly: $16.25 TransAmerica Three medical plans to choose from, no limitations for pre-existing conditions No paperwork, enrollment completed over the phone Convenient bank draft or credit card payments accepted Dental coverage (pays 100% for preventive care), weekly: Driver $5.17; Driver & Spouse $10.20; Driver & Children $10.52; Driver & Family $15.50 Vision, weekly: Driver $2.38; Driver & Spouse $4.59; Driver & Children $3.83; Driver & Family $6.05 Disability, Term Life/Critical Illness & Accident coverages also available A.T.B.S. American Truck Business Services is the largest business services provider in the country serving the specific business needs of owner operators. A.T.B.S. expects its driver-clients to earn 32 percent more money than the average owner operator by using its services. A.T.B.S. provides each client a personal business consultant to develop a personalized budget, handle all of your bookkeeping with an emphasis on saving the client’s time. A.T.B.S. services include personalized budgeting, bookkeeping, monthly income statements, industry comparisons, state and federal tax preparation and unlimited business consulting. The cost is $16.25 per week.
Lease Purchase Weekly Budget Worksheet
68 mph 2500 miles 2750 miles 3000 miles Truck Payment approximate! $480.00 $480.00 $480.00 Insurance $75.00 $75.00 $75.00 On Board Comp. $6.25 $6.25 $6.25 HVUT/2290 $25.00 $25.00 $25.00 Req. Escrow $100.00 $100.00 $100.00 Fuel Cost (cut idle time by 25 to 30%) $857.00 $943.20 $1029.60 Fuel Tax $25.00 $25.00 $25.00 Maintenance Esc. $125.00 $125.00 $125.00 ATBS $16.25 $16.25 $16.25 Total weekly expense $1709.50 $1795.70 $1882.10 Total Revenue of Truck $2700.00 $2970.00 $3240.00 Safety Bonus $25.00 $25.00 $25.00 Driver referral bonus ($300 per driver) $75.00 $75.00 $75.00 Owner/operator bring home pay $1090.50 $1274.30 $1457.90 After reading O/O threads here I somehow don't believe theat I could make 85 cpm and still bring home $1000 to $1400 a week.
#2
11-17-2007, 02:49 AM
Re: Just talked to JB Hunt
Originally Posted by Scout
After reading O/O threads here I somehow don't believe theat I could make 85 cpm and still bring home $1000 to $1400 a week.
BTW my truck payment is $1,627 a month and I can take it any where I want and make twice as much if not more.just because they take things out by the week does not make it better. Save your money,BUY your own truck and lease on to a good company that pays a percentage of the linehaul on the load and then you can make it even when fuel gets to $4 a gallon.
__________________
"I love college football. It's the only time of year you can walk down the street with a girl in one arm and a blanket in the other, and nobody thinks twice about it." --Duffy Daugherty 
#3
11-17-2007, 02:54 AM
Re: Just talked to JB Hunt
Originally Posted by Scout
On the phone I was told it would take 3 years to pay off the truck.
__________________
"I love college football. It's the only time of year you can walk down the street with a girl in one arm and a blanket in the other, and nobody thinks twice about it." --Duffy Daugherty
#5
11-17-2007, 07:14 AM
Re: Just talked to JB Hunt
Originally Posted by Scout
Here's the email he sent me
J.B. Hunt Lease-Purchase Program
Lease-Purchase Driver Compensation Package: 85 cpm, loaded or empty, for OTR lease-purchase contractors Fuel surcharge based on DOE average weekly price (adjusted weekly) $300/mo credit for each month remaining on lease to reduce residual (thru 12/29/06) Non-mileage / Accessorial pay, as follows: § $35 per additional stop, between pick-up & delivery § $2.25 per 1,000 lbs loading/unloading (company lumper service available) § $20 pallet jack use, per load § $50 for delivery/pick-up in any of the five boroughs of New York $75 per day for attending Orientation $50 payment, should lease truck not be available Short-Haul Pay Shuttle Pay of $25 per hour plus miles for local shuttle Discounts on fuel, tires, maintenance, and labor Referral bonus paid for drivers hired/contractors leased with J.B. Hunt Base plates & permits paid by company Scale tickets reimbursed by company Toll cards & passes issued (same as company OTR driver) Paid weekly (each Friday) via direct deposit or ComData® Access to services at J.B. Hunt shops and outsourced maintenance vendors Maintenance Service Agreement offered Full voluntary benefits package available Benefits Lessee will forfeit all benefits enrollments Lessee will terminate status as company driver prior to signing lease; upon termination, all company benefits will be discontinued Lease Drivers may inquire about Cobra insurance coverage by contacting the Benefits department; J.B. Hunt 401k enrollments will also terminate Equipment § No major modifications are permitted; Lessee may not make alterations that can’t be removed without damage to the unit (ie— paint, accessories requiring holes be drilled) § All major repairs must be coordinated with MOC. All maintenance, other than oil changes, must go through the IC Maintenance coordinator to insure quality of service and utilize truck warranty. § Lessee will be required to complete monthly maintenance reports of all work completed on the truck; reports must be turned in by the 15th of each month for the previous month. Reports are treated with the same priority as missing logs. § Quarterly maintenance inspections are required; J.B. Hunt will pay for the inspections, but all work required for trucks to pass inspection is the responsibility of the Lessee. Taxes and Deductions Lease drivers are responsible for self-employment taxes (all local, state and federal taxes, as applicable). J.B. Hunt does not deduct these taxes from weekly settlements. Lease drivers are responsible for all fuel use taxes. If the driver fuels within J.B. Hunt’s fuel network, $.01 cpm will be deducted from the weekly settlement for fuel taxes to be filed quarterly. A federal Heavy Vehicle Use Tax (aka: 2290) of $550 per year will also be deducted/filed for the driver. Deductibles are applied, in the amounts of $1,500 for property damage and $500 for cargo claims. The lease driver is responsible for the first $1,500/accident reserve for physical damage on a preventable accident or incident. If the reserve is below the amount paid by the driver, the difference will be reimbursed. Likewise, for reserved amounts on cargo claims. There is a $1500 deductible for third-party property damage; a $1000 deductible for damage to the drivers’ own tractor; $500 deductible for cargo claims. With-holdings and deductions will be made from the weekly settlement, as follows: § Truck payment: approx $1500 to $2000/ mo, based on model and odometer on unit selected § Fuel costs: all charges for the prior week § Insurance: Bobtail, $20/mo; Physical Damage, approx $130/mo; Occupational Health, $118/mo § Maintenance/Road Service: for charges closed out during the prior week § Fuel taxes, as calculated by fuel purchases; deducted weekly with fuel charges. (If fueling outside the company network and fuel receipts are not turned in to the fleet manager, the company will figure tax liability by the IRS auditing formula and charge for each quarter.) § Admin fees: Annual $50 admin fee; $20 Road Service charge per occurrence: $10 Comcheck® fee for personal advances § Equipment usage fees: $25/mo OBC usage § Escrow payments: $100/wk until total equals $3,600 for security deposit. The security escrow will only be released within 45 days upon termination of lease. A voluntary escrow fund may also be set up, at the driver’s request. This fund is accessible Monday through Friday, during normal business hours. (Examples of contribution rates: $.08 per mile for a 2002 lease unit; $.05 per mile for 2004 or 2005 model tractors.) * Driver may opt to use an accountant through ATBA (provided by the company) for a rate of $16.25 a week; this is optional but encouraged. * If a driver terminates the lease, he is responsible for all maintenance charges to bring that truck back to Freightliner® trade specs. If the driver lacks the funds to cover maintenance costs, the remainder will be taken from his required escrow. The driver must also pay any repossession charges associated with bringing the truck to Lowell or Louisville to be released. The lease also contains an early termination penalty; if a driver terminates before completing the lease, there will be a charge of $100 per week, up to $3600, for the remainder of the lease period. Process for Company Drivers Transitioning to the Lease Program Driver will be notified of acceptance into the Lease Program Driver will be notified of acceptance into the Lease Program Driver will be scheduled for orientation in Lowell or Louisville Fleet Manager will be notified and will route driver to home terminal to clean out truck and be terminated as a company driver A rental car will be provided for the driver to travel to orientation Drivers will go through a 4-day orientation class and be dispatched immediately Benefits Benefits are offered to Independent Contractors through USNow as of January 1st, 2006. USNow is not a division of J.B. Hunt, but an outside insurance provider that offers our contractors the opportunity to receive benefits at affordable group rates. For more information please call 1-800-694-9888, ext. 524. Contractors attending orientation at the Louisville terminal are also offered a second option, provided by TransAmerica through the Thomas Wilson Group; an outline of services is available by calling 1-866-893-1168. USNow Choice of medical plans Dental coverage, monthly: Driver $14; Driver & Spouse $27; Driver, Spouse, & Children $28; Family $40 Vision coverage, monthly: Driver $2; Driver & Spouse $3; Driver, Spouse, & Child $3, Family $4 Disability, monthly: approx $2 to $5, depending on benefit level Life insurance, Guaranteed Issue for entire family: up to $13, depending on age and smoking status Cancer coverage, weekly: $4.43 to $12.23 Professional services (including accounting and tax prep), weekly: $16.25 TransAmerica Three medical plans to choose from, no limitations for pre-existing conditions No paperwork, enrollment completed over the phone Convenient bank draft or credit card payments accepted Dental coverage (pays 100% for preventive care), weekly: Driver $5.17; Driver & Spouse $10.20; Driver & Children $10.52; Driver & Family $15.50 Vision, weekly: Driver $2.38; Driver & Spouse $4.59; Driver & Children $3.83; Driver & Family $6.05 Disability, Term Life/Critical Illness & Accident coverages also available A.T.B.S. American Truck Business Services is the largest business services provider in the country serving the specific business needs of owner operators. A.T.B.S. expects its driver-clients to earn 32 percent more money than the average owner operator by using its services. A.T.B.S. provides each client a personal business consultant to develop a personalized budget, handle all of your bookkeeping with an emphasis on saving the client’s time. A.T.B.S. services include personalized budgeting, bookkeeping, monthly income statements, industry comparisons, state and federal tax preparation and unlimited business consulting. The cost is $16.25 per week.
Lease Purchase Weekly Budget Worksheet
68 mph 2500 miles 2750 miles 3000 miles Truck Payment approximate! $480.00 $480.00 $480.00 Insurance $75.00 $75.00 $75.00 On Board Comp. $6.25 $6.25 $6.25 HVUT/2290 $25.00 $25.00 $25.00 Req. Escrow $100.00 $100.00 $100.00 Fuel Cost (cut idle time by 25 to 30%) $857.00 $943.20 $1029.60 Fuel Tax $25.00 $25.00 $25.00 Maintenance Esc. $125.00 $125.00 $125.00 ATBS $16.25 $16.25 $16.25 Total weekly expense $1709.50 $1795.70 $1882.10 Total Revenue of Truck $2700.00 $2970.00 $3240.00 Safety Bonus $25.00 $25.00 $25.00 Driver referral bonus ($300 per driver) $75.00 $75.00 $75.00 Owner/operator bring home pay $1090.50 $1274.30 $1457.90 After reading O/O threads here I somehow don't believe theat I could make 85 cpm and still bring home $1000 to $1400 a week. you will NEVER pay off the truck, that's why you cant modify it, they want it the same when the next sucker leases it
#6
11-17-2007, 08:29 AM
Guest
Posts: n/a
Re: Just talked to JB Hunt
Originally Posted by mike3fan
Originally Posted by Scout
After reading O/O threads here I somehow don't believe theat I could make 85 cpm and still bring home $1000 to $1400 a week.
BTW my truck payment is $1,627 a month and I can take it any where I want and make twice as much if not more.just because they take things out by the week does not make it better. Save your money,BUY your own truck and lease on to a good company that pays a percentage of the linehaul on the load and then you can make it even when fuel gets to $4 a gallon.
#7
11-17-2007, 09:46 AM
You drive 600 miles and what do you get? another day older and deeper in debt. Saint Peter, don't you call me, 'cause I can't go; I owe by soul to (Insert Crappy L/P Company here). If you can't afford a functional truck on your own $20-35k just remain a company driver. Its way less risk for the same take home.
#8
11-17-2007, 05:58 PM
I know someone that just finished this lease thing after 3 months. I told him not to do it but he was going to be different. Like everyone else he figured he'd run hard and he would be able to make it. And to be honest for the first few weeks he was doing ok.
He signed up for the program where for $.10 a mile he had all maintenance covered. He ended up bumping the bumper or putting a small dent and like a fool he asked them to fix it during a PM. Well they fixed it all right. They replaced the whole thing and that wasn't covered under the plan and the following week he got a $0 check as the bumper was more than his check. That is he worked for free all week. He actually could deal with the fact that he had to replace a bumper but he couldn't understand why they would take his WHOLE check and not take it out over the course of a few weeks. So all his bills at home went unpaid. The following week he grossed like $3,000 or so but only saw $400 because he still owed for the bumber. In the end he grossed about $6,000 or $7000 over the course of a few weeks and only saw $400 of it. He quit and did the right thing and took the truck back to the terminal that he got it from by taking a load there. The following week $0 in his check. Didn't read the part of the contract that says you just can't walk away that there are penalites. The funny thing is when he went to get the truck which was abandoned from the last driver, he was looking through the guys logs and saw that the guy was getting plenty of miles. He couldn't understand why the guy quit. Sure you can get plenty of miles but they have people much smarter than all of us writing these contracts. Remember anything is possible with lots of money and an unlimited supply of free labor which is what you will become. If you think you are going to be different then go ahead and try it. Let us know how it turns out.
#10
11-19-2007, 06:32 AM
Originally Posted by Ian Williams
You drive 600 miles and what do you get? another day older and deeper in debt. Saint Peter, don't you call me, 'cause I can't go; I owe by soul to (Insert Crappy L/P Company here). If you can't afford a functional truck on your own $20-35k just remain a company driver. Its way less risk for the same take home. BTW, he called to verify orientation and I turned it down. |
