My promised report on Prime lease - after 7 weeks, I like it
 

Promised I let you know how the Prime lease is working for me. Although I'm just getting started, my first seven weeks have been great.

My best week I cleared (after all expenses) $2200. My worst week was $1200. I'm averaging about 2500-3500 miles a week.

I know it won't always be this good, but it's much more than the 26 cpm I would've made starting out at other good companies, like CFI.

I have a lot to learn, still. It's different when you're finally out on your own with your own truck. No training can really prepare you for how you are gonna handle that final step.

Perhaps when I get a couple of years experience under my belt, I can earn the 40 cpm experienced company drivers make and ditch the Prime lease. Until then, I can make more money doing what I'm doing.

Thanks again to all of you that gave me advice. I really appreciated it.

I am happy to read that you are doing well Scottie. Would be interested to hear what your average net cost is for fuel. Thanks

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 see where this is going....He said he averages 2300-3000 mi. per week. Already knowing Prime is paying about a buck a mile there is no way he had calculated ALL his expenses into his (bring home). Scottie, break it down for us so we can all see how good you are doing. I think you will find out that the .26 cpm you were gonna get from CFI would have been better. Remember to figure in fuel, self-employment taxes, benefits, insurance, etc. I think your re-calculated (bring home) will be around $750 give or take. Not worth it for all the headaches you will surely encounter during the term of your lease.

what are your payments on the lease and for how long?

check this out
http://www.primeinc.com/drivers/succ..._to_lease.html
http://www.primeinc.com/drivers/prime_career_path.html

I believe he said 2500-3500 :wink:

Okay. Even at those numbers it doesn't equate. :roll:

GMAN I can see in 8 weeks or so this including fuel and lease payments since this comes right out of the settlement. What has not happend yet is a breakdown with its costs plus downtime .... nor a week or month of low miles ...

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.

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!!