Questions About Prime Leasing

Once again this thread is about Primes lease. Not the industry as a whole. So Brett, your "facts" need some work more geared toward Prime specifically. I don't see how anyone can critique something in which they have not done. You might have heard things from other drivers about Primes lease but you have no idea how they ran their business. You can't take one persons opinion about something and automatically assume that's the way it is. If I believed everything I heard about the trucking industry I would've never came to the business in the first place.

Ok this is for terry. I only have one thing to say on this particular subject. Both sides of this argument have valid points. But i would strongly advise NOT to go into a lease in your first year of trucking. give it a year or two. I my self am drawn tward having my own truck but i would not do Prime's lease. Not only that but im looking at doing it after i get a few years under my belt on the company side before i do anything with leasing or buying. There is so much learning involved and possible stress that u may not feel now but may have in a few months on your own and if your in a lease or financing a truck then your screwed and cant get out without going through a lot of BS. Also one more thing you asked for feedback and then got mad or just didnt want to hear what everyone said that wasnt of your opinion and now there is a long argument on here about it. Next time someone says somthing on here you dont agree with either one really listen to what they are trying to tell you or just say thanks, shut up and go on your way.

Once again this thread is about Primes lease. Not the industry as a whole

Why? What's so different about Prime? They're part of the trucking industry. They haul the same freight using the same trucks, same fuel, same highways, same customers, under the same laws. Are you under the impression that their lease program is so far above and beyond the rest that you can't even include Prime in a conversation about leasing in the trucking industry?

And let me tell ya - if I was a Shark you would have lost your opportunity a long time ago. I've asked like five times for anything with substance and you haven't expressed the first solid business reason to invest in your company. All you keep doing is deflecting my questions and dancing around the issue. I've offered my business facts and opinions on the matter and you've done nothing but question my knowledge, my facts, my opinions, and my experience. Why can't you offer me a single business reason for leasing a truck? This isn't about me and it isn't about you. It's about the business prospects of leasing a truck.

A solid business case for leasing a truck - that's what I'm asking for.

For one person to assume that Primes lease is exactly the same as everyone else may be the problem. Just because McDonald's and Burger King both make hamburgers doesn't mean they both will taste the same. Every company separates themselves from the other. Prime doesn't have the same trucks as everyone else. Our equipment is usually the best on the road. We have the newest equipment and technology. Allot of people say we're slow, well that truck you pass that's going 58 is getting 9mpg while your truck going 75 is getting 6mpg....that results in more money for operator. Not the company. I'm done trying to explain why one should lease, until you taste the cake you don't know how good it tastes.

Also one more thing you asked for feedback and then got mad or just didnt want to hear what everyone said that wasnt of your opinion and now there is a long argument on here about it. Next time someone says somthing on here you dont agree with either one really listen to what they are trying to tell you or just say thanks, shut up and go on your way.

I'm not going to debate you guys over and over so I'll say this once and I'm done. I have not once got mad at anyone that expressed an opinion. I've fired one negative post to reply to Daniel for accusing me of the same thing and then basically try to kick me from the site and go elsewhere. If someone is going to steer me away from leasing, I want to know the hard reason why. Not just "it sucks don't do it." That's not telling me why, that's telling me do as I say with no facts top back it up. Brett had done an outstanding job of presenting an argument as to why not to lease and Robert put some evidence to how leasing could work. I have some evidence to go by to make a informed decision.

As I stated above I only responded negatively to a post on which I was basically told to leave. Now I'll respond negatively to you for being completely rude and telling me to "shut up". If you lack the poise to tell someone your opinion without resorting to insults, you are at a level of communication that I don't care to listen to.

I'm done trying to explain why one should lease

No problem. It's not an easy thing to do. In fact, it's impossible. I figured that out 21 years ago when I considered leasing just like every driver does at some point. But I enjoy these conversations because they teach a lot of people how to think this process through before committing to leasing or buying a truck. Believe it or not, this is about the 100th time I've had this conversation in our forum. People who are new to leasing come in from time to time and say things like:

until you taste the cake you don't know how good it tastes.

...but can't back it with a single logical business explanation. That might seem like a convincing business strategy to you and a few others, but to thousands of people who will read this it will sound like you couldn't come up with one single business case to justify the risk of leasing a truck and I came up with a long list of reasons against it. They'll make their own choices, just like it should be.

And heck....yours isn't even close to the best ones I've heard. People get pretty excited when they first start leasing and get a few paychecks coming in. They really think they've accomplished something. I've heard things like "Pockets overflowing with money" and "swimming in cash" and all sorts of silly stuff.

It shocks me that a newbie would be so brash after a few months of staying afloat in an industry famous for its failure rate. I can't believe people really think it's that simple. I'll give you an example.....

Remember that one section of your contract that spells out clearly that your company must give you enough freight for you to make your lease payments and stay in business? Remember that part? Thank God that's in there, eh? Otherwise something crazy could happen. I mean, what if you somehow p*ssed off one of the higher ups and they decided to cut back on your freight just enough to drain your accounts dry over a period of a few months, repossess your truck, send you into bankruptcy, and re-lease your truck to the next guy in line? Wouldn't that be nuts??? You would walk away broke or possibly in debt and they would keep on humming without missing a beat. Can you imagine putting your financial future into a business that in all reality you have no control over? Where one guy or one company can press a button and you're out of business just like that? Thank God you'll never end up in a situation like that. Having to pay the price if your business fails without actually having control over the flow of revenues for your business would be bitterly disappointing to say the least. I wouldn't be able to sleep at night if I was in that position.

And I do want to be clear Robert - this is absolutely not personal between you and I. Not in my mind. For me it's an important conversation that needs to be had so people can make better decisions for themselves. You and I are the main players at the moment, but others will jump in. Believe me...I want everyone to be successful out there - yourself included of course! Lease driver, company driver, flatbedder, dry vanner - doesn't matter to me as long as people are doing well. I'd love to get an email from you three years from now saying you own a company with 1000 trucks and you live in a mansion up on a hill. That would be amazing! I would be proven wrong and I'd be happy for it.

Brett, you're wasting your time. I said he's close minded and that's exactly what he's being. I got yelled at because people didn't believe me but it turns out he more than proved me right. People like this just will not listen to anyone else. Don't worry, he has the entire industry completely figured out.

Just finished up my first 3 months as a prime lease driver. I ran for a bit over a year as a company driver.

If I had to do it over again. I wouldn't do it. My weekly settlements after expenses and before taxes have varied greatly, from a negative $988 to a positive $ 2348. This week I got $1645 last week $320. I haven't been home in over 3 months and still would need to save up more to go home 4-7 days and not be in the hole.

As a lease driver the stress level is greatly increased and the company does nickel and dime you to death. I've run my truck well, never missed a pick up or appt, 8.3mpg avg) and after "breaking in" a brand new truck got my weekly avg. fuel cost down to 13.9 per mile.

My first two trainers were lease drivers and did well, (71-78k / yr. after expenses before taxes) but they didn't seem to mind being out 3-4 months at a time. Long trucking is definitely not for me. Maybe some like it, but spending months on the road and not really having a life is ridiculous to me.

Glad to coming off the road to work locally.