I am not a truck driver, but this is interesting!
#1
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Join Date: May 2005
Location: Mississippi
Posts: 16
I am not a truck driver, but this is interesting!
I do not drive a truck, but I hang out at these boards for interesting reading, always been a dream, but I am still looking into it.
Any who I was looking at everyone's favorite company C.R. England and was reading their "fleece" program and was really taken back at this: This program is a great opportunity for drivers to own their own business. TRACTOR LEASING PROGRAM There is no down payment and no credit requirement with this program. You can lease a Freightliner Classic, Century Series, or other available up-spec equipment form six months up to 36 months. Qualified drivers may become their own boss as an independent contractor. This lease avoids the hassles and initial expenses of buying your own truck. $443 - $480 per week lease payment — NEW & IMPROVED PAYMENTS 14 cents variable mileage payment (1 cent paid back as completion incentive) $10,000 Maintenance Reserve (7 cents a mile capped at $10,000) Priority Dispatch Many dedicated runs available POTENTIAL INCOME Potential Independent Contractor Solo Weekly Truck Lease Income * Below figures are only projections; actual income will vary based on individual performance. Projections do not include quarterly income taxes or health insurance. Weekly Mileage 3,250 Annual Mileage 169,000 Revenue Base @ 90 ¢ $ 2,925.00 Weekly Expenses Truck Payment $ 459.00 Weekly Fuel @ 6.3 paid mpg w/ England Fuel Cap of $1.251 $ 644.84 Weekly Maintenance @ 7 ¢ mile2 $ 227.50 Weekly Variable Mileage Payment @14 ¢ mile3 $ 455.00 Weekly Insurance $ 138.04 Weekly Fuel/ Road Tax @ 1.5 ¢ per mile4 $ 48.75 Weekly Total Expenses $ 1,973.13 Weekly Weekly Income $ 951.87 Weekly Annual Income $ 49,497.24 Yearly I am not an accountant, but is it me or can you make this by just being a company driver, after experience of course, with a "better" company? And that company would pay for fuel, taxes, maintenence to truck when needed. This weekly income does not account for living expenses while out, course I guess you just could sell everything you own and live in the truck :shock:
#2
Re: I am not a truck driver, but this is interesting!
Originally Posted by cpl14
TRACTOR LEASING PROGRAM
There is no down payment and no credit requirement with this program. You can lease a Freightliner Classic, Century Series, or other available up-spec equipment form six months up to 36 months. Qualified drivers may become their own boss as an independent contractor. This lease avoids the hassles and initial expenses of buying your own truck. $443 - $480 per week lease payment — NEW & IMPROVED PAYMENTS 14 cents variable mileage payment (1 cent paid back as completion incentive) $10,000 Maintenance Reserve (7 cents a mile capped at $10,000) Priority Dispatch Many dedicated runs available POTENTIAL INCOME Potential Independent Contractor Solo Weekly Truck Lease Income * Below figures are only projections; actual income will vary based on individual performance. Projections do not include quarterly income taxes or health insurance. Weekly Mileage 3,250 Annual Mileage 169,000 Revenue Base @ 90 ¢ $ 2,925.00 Weekly Expenses Truck Payment $ 459.00 Weekly Fuel @ 6.3 paid mpg w/ England Fuel Cap of $1.251 $ 644.84 Weekly Maintenance @ 7 ¢ mile2 $ 227.50 Weekly Variable Mileage Payment @14 ¢ mile3 $ 455.00 Weekly Insurance $ 138.04 Weekly Fuel/ Road Tax @ 1.5 ¢ per mile4 $ 48.75 Weekly Total Expenses $ 1,973.13 Weekly Weekly Income $ 951.87 Weekly Annual Income $ 49,497.24 Yearly
#4
If I ran 3250 miles a week as a company driver I darn sure made more $950.00/week without the hassle of being an O/O/. For those kind of miles I grossed better than $1100.00/ week and all I did was drive and send in the receipts.
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#5
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Join Date: May 2005
Location: Mississippi
Posts: 16
That is what I was getting at, if you look at the numbers, it just does not make sense. To me the "variable pay", looks as if it is a second truck payment, but you only get "one cent of the 14 cents" paid into the deal, returned to the driver after lease completion. :shock:
#6
Senior Board Member
Join Date: Mar 2007
Posts: 1,009
Leasing= :twisted:
I looked into a lot of lease programs a few years ago, and they all added up to going out of business slowly, just run the ####'s. Maybe there are a few out there that you can make a good profit by taking part,...but I have not seen them.
#7
Member
Join Date: Mar 2007
Location: Ca.
Posts: 136
Ha Ha LOL
You can make a hell of a lot more being a company driver! Plus Benies, 401k, retirement, and a 800 number you call when you break down. :twisted: I know a driver works 5 days a week 9 to 10 hours a day, 80,000.00 a year! and he wants to become an o/o lol
#8
Member
Join Date: Oct 2005
Location: Clearwater, FL
Posts: 178
Being an independent contractor you would think that you would get a 1099 at the end of the year. In that case you would be eligible for a myriad of deductions like maintaining a home office, using your personel vehicle and mileage to get to and from the 18 wheeler, electric, phone bills,laptop, prescriptions,health insurance etc. I would rather take a $49000 1099 and all my reciepts to an accountant and let him deduct away until it looks like I made next to nothing on profit rather than have a $49000 W2.
#9
Originally Posted by Cripplecreek
Being an independent contractor you would think that you would get a 1099 at the end of the year.
In that case you would be eligible for a myriad of deductions like maintaining a home office, using your personel vehicle and mileage to get to and from the 18 wheeler, electric, phone bills,laptop, prescriptions,health insurance etc.
#2. Electric? That falls under a home office deduction, and is a very small deduction anyway. My home office deduction was about $450 last year. Wowee. Besides, can you really claim a home office when you never get home to use it? #3. Phone bills, laptop, prescriptions are all deductible as a company driver.
I would rather take a $49000 1099 and all my reciepts to an accountant and let him deduct away until it looks like I made next to nothing on profit rather than have a $49000 W2.
Unless, of course, your receipts are bogus, and then the IRS will have a field day with you, and Bubba will have a new girlfriend in Cellblock A.
#10
You are so right Rev. I would much rather PAY taxes on 3,000 that deduct 3,000. I hear that so many times;" it just a write-off for the company", " they'll just write it off". :roll:
Doesn't anybody understand that a write-off is a LOSS???
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