Lease Purchase Freymiller

braylean

Well-Known Member
First off, let me start by saying my wife and I live in the truck so our outside expenses are very low. I decided to share this beaubecause I do what I consider very well here. Some make a little more from other companies and many do way worse. Freymiller pays the dreaded $1.00 a mile plus a reefer rebate which averages 1.5 cpm and fsc which right nowis a quarter per mile but is based off the d.o.e. Average so it changes as the price of fuel changes of course. All this is paid on every mile you travel loaded or empty. The equipment is peterbilt 386's or 579's and Kenworth T 660' s or 680's. Most of the 386's have the heavy duty 15 litre isx cummins, the 579' s mostly have a light duty 15 litre isx and the kw's have the pacaar 15 litre. My advice is to make sure whichever truck you choose has the hd isx or the pacaar engine. On the isx you can tell the difference in the engine on the spec plate. If it's torque is 1650 foot pounds or less it's a light duty and won't pull the mountains worth a crap and is also very limited on how far you can have it turned up once paid off. All trucks aside from a very few automatics have a convertible 9 speed and when your truck hits 500 k miles and the transmission warrant expires, the shop will convert our to a 13 speed for you. All trucks have a 72 " or larger bunk, tripac evolution apu's and some of the new trucks have inverters installed and the ones that don't you can buy one from the shop or but your own and the shop installs out for thou. Refrigerators are available from the shop on weekly payments as well. The trucks are o/o spec'd and all come with full dash instrumentation.

Now the numbers. It annoys me when nobody posts the numbers. I'm not going to break it all down but I'll give you totals. My truck is a 2016 386 and had 258 k on the odometer when I took it. Aside from a bent heat shield on the stack behind the can where someone jumped the fifth wheel with a trailer and a 6 inch gouge in the bumper, the truck was in new condition when I took possession. I pay 625.00 a week on the truck for a bit over 3 years for a total of around 120k total which is about market price for the truck right now if you look it up. This company runs allot of customers they have had contracts with for many years which allows them to predict and plan around the dreaded reefer detention times and I have proved to themI will run my butt off, so my miles very very rarely ever drop below 2800 a week and when they did, my dm makes it up the next week. When you start the program you won't have a payment for 2 weeks, but you will have deposits and these plus the other expenses will actually be higher than what you will pay after you start making the truck payment. Your dm will run you hard those 2 weeks both to insure you make those deposits and earn a good paycheck, but also to see if you will keep you nose to the grind stone. After that, from the beginning of the contract for fifteen weeks you will pay 100 a week into an escrow of which thou canuse tobut a 2 year extended warranty on the truck. If you buy the warranty you will then have to put that money back in there again at 100 a week and in 2 yards you can again use it to extend that warranty another 2 years which will take you a year past payoff. Anyhow while your paying that for the 13 weeks after your first 2 weeks my total fixed costs including the truck payment is 959.21 plus 10 cpm for maintenance account and completion bonus. I am past that 15 weeks now so my fixed costs right now are 859.21 plus that 10 cpm. I bring home after fuel and all payments usually $1000 to $1500 a week. I have had 2 negative checks, one fora bad week that also included home time and I was about 7 dollars in the hole on that oneand about 3 weeks ago I sacrificed a week at 1500 miles to takea 2800 mile 5 stop load that allowed me time for extra miles the following week. That pout me under a bit over four dollars but netted me a $1900 paycheck the next week plus a carryover load to add to my hometime week. My highest weeks are that $1900 check which was for 3700 miles plus stop pay and check for a little over 2k for I think it was 4200 miles.

Short forthe letter but I was trying to cover as much as possible. I'm not a writer or a teacher obviously so if anything doesn't make sense or anyone had questions feel free to ask and I'll try and get you an answer asap. Oh and this company will hire straight into a l/p but they won't mention it if you call or in orientationand if you call and ask about it they will do everything in their power to try and talk you into driving company forthree months first. I strongly recommend doing that for at least a month if not the three months just so you and the company geta feel for each other.It's allot cheaper to turn in a company truck than a lease truck if thou don't get along, lol. Also this is a driver owned and run company meaning everyperson in that office is a driver or a drivers spouse so come here ready to run because they know every excuse in the book for not wanting to work long before you ever thought it up and if you don't want to work, I promise you they will accommodate you.
 

Tazz

Infidel
Keeerist who wants to work that hard?

What was your net driver pay last year, and are you and the wife a team?
 

GAnthony

Sudanese, pie eating, Canadian truck driver
Supporter
First off, let me start by saying my wife and I live in the truck so our outside expenses are very low. I decided to share this beaubecause I do what I consider very well here.

I bring home after fuel and all payments usually $1000 to $1500 a week. I have had 2 negative checks, one fora bad week that also included home time and I was about 7 dollars in the hole on that oneand about 3 weeks ago I sacrificed a week at 1500 miles to takea 2800 mile 5 stop load that allowed me time for extra miles the following week. That pout me under a bit over four dollars but netted me a $1900 paycheck the next week plus a carryover load to add to my hometime week. My highest weeks are that $1900 check which was for 3700 miles plus stop pay and check for a little over 2k for I think it was 4200 miles.

.
i am a lowly company driver, on a dedicated route. i get the same pay check, week after week, and put in (on average ) LESS THAN 45 hours per week, and i make just a bit more than your $1,500 on your average week. to be in the hole as you said you were is not a good indication on my part that you are really doing well there.

also you do not say if your wife is just a passenger or a co-driver as well. if she is NOT a co-driver, man are you losing out on money big time.

best you chuck this up to experience and not go back to being a lease operator, as the company ALWAYS benefits from you making all the payments for them.

i also suggest that you do not buy your own rig, i think you have problems handling the expenses on the road with one person just basically feeding off the other.

good luck to you, but complerte and total failure has happened to you or soon will, you will leave freymiller broke.
 

braylean

Well-Known Member
Lol, I have had this argument till I'm blue in the face. You make as much as me After all my payments so in two and a half years we will have made the same money but mine will be net and yours gross I suspect plus I'll own my truck and you'll still be making company wages. As for the company, I don't care how much they make, my concern is my money. Yes I went in the hole but if you had of read, I planned on both and I cleared right back out on less than my first ten miles on my next week. As for running a business, I operated a broiler farm with ten houses totaling a quarter of a million birds and stayed in the top five growers list for ten years with grower of the year also under my belt. Trucking finances are childs play compared to that. Don't you worry, I know exactly what I'm doing. And before you yell they are going to starve me out, there are about a hundred O/O's here that would disagree with you because they own the trucks from the program and a couple own multiple trucks from the program. 1k to 2k in the bank per week is just fine with me and I should mention that the mileage I have deducted is the maintenance fund and lease completion bonus plus the escrow I mentioned and the bonus is company matched, that's all money I get free and clear at the end of the contract. Roughly 16.5 k plus the maintenance fund. Plenty to keep me going for the year left on my warranty allowing me to save even more added to what I have saved in my bank which will in turn allow me to do a complete rebuild, engine swap or trade in this one and buy another truck for cash. Yup I'm definitely going broke here, lol. I won't allow myself to go in the hole far enough to not recover and what you didn't get was both those checks above were my decision to let them get negative. On that last one I went seven dollars in the hole to take that load... Notice I said I carried a load over from the 3700 mile week that got me. If I had of turned that load in on time that would have been a 4800 mile week netting me $3200 for the week or split with the weekI went in the hole $1600 per week for the two weeks. I chose to carry that load over though giving me a couple of good weeks and setting me up ahead of time to go home. Also I don't ever drive team with anyone and my wife is a type1 juvenile diabetic meaning she has been on injections since she was 12.she doesn't drive. We live in the truck together partly for me to take care of her and partly for us to travel the country together and she is a great navigator and extra set of eyes... Not that that is any of your business.
 
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GAnthony

Sudanese, pie eating, Canadian truck driver
Supporter
Lol, I have had this argument till I'm blue in the face. You make as much as me After all my payments so in two and a half years we will have made the same money but mine will be net and yours gross I suspect plus I'll own my truck and you'll still be making company wages. As for the company, I don't care how much they make, my concern is my money. Yes I went in the hole but if you had of read, I planned oneand on both I cleared right back out on less than my first ten miles on my next week. As for running a business, I operated a broiler farm with ten houses totaling a quarter of a million birds and stayed in the top five growers list for ten years with grower of the year also under my belt. Trucking finances are childs play compared to that. Don't you worry, I know exactly what I'm doing. And before you yell they are going to starve me out, there are about a hundred O/O's here that would disagree with you because they own the trucks from the program and a couple own multiple trucks from the program. 1k to 2k in the bank per week is just fine with me and I should mention that the mileage I have deducted is the maintenance fund and lease completion bonus plus the escrow I mentioned and the bonus is company matched, that's all money I get free and clear at the end of the contract. Roughly 16.5 k plus the maintenance fund. Plenty to keep me going for the year left on my warranty allowing me to save even more added to what I have saved in my bank which will in turn allow me to do a complete rebuild, engine swap or trade in this one and buy another truck for cash. Yup I'm definitely going broke here, lol. I won't allow myself to go in the hole far enough to not recover and what you didn't get was both those checks above were my decision to let them get negative. On that last one I went seven dollars in the hole to take that load... Notice I saidI carrieda load over from the 3700 mile week that got me. If I had of turned that load in on time that would have been a 4800 mile week netting me $3200 for the week or split with the weekI went in the hole $1600 per week for the two weeks. I chose to carry that load over though giving me a couple of good weeks and setting me up ahead of time to go home. Also I don't ever drive team with anyone and my wife is a type1 juvenile diabetic meant she has burn on injections since she was 12.she doesn't drive. We live in the truck together partly for me to take care of her and partly for us to travel the country together and she is a great navigator and extra set of eyes... Not that that is any of your business.
the older that truck gets, the more work it'll need. i hope you have good cash flow and a bank account. i have no worries, you have many. you don't. your truck breaks down you have to pay for the tow bill, you have to pay taxes (for the truck/business) i don't you sit cuz your truck is down, my company gets me a rental with in minutes. you have to pay your own health care, i don't. i get paid vacations, maybe you do as well, but you cannot afford to let that truck set long.

i don't care you carried over a load into the next pay period, you were still in the red, the week before. you now claim life is good, but you also advised others to do the company driver thing for a few months, so what song do you really wanna sing today?
 

braylean

Well-Known Member
You need a reading comprehension course don't you, I said why they should run company for a bit. I geta loaner truck to run as well plus I'm pretty sureI mentioned that the truck is now and will be under warranty for the entire contract plus a year. That leaves me with normal wear items and yeah if got that covered, next.
 

GAnthony

Sudanese, pie eating, Canadian truck driver
Supporter
You need a reading comprehension course don't you, I said why they should run company for a bit. I geta loaner truck to run as well plus I'm pretty sureI mentioned that the truck is now and will be under warranty for the entire contract plus a year. That leaves me with normal wear items and yeah if got that covered, next.
i read everything you said, good bye, good luck.
 

Ranger_375

Well-Known Member
i am a lowly company driver, on a dedicated route. i get the same pay check, week after week, and put in (on average ) LESS THAN 45 hours per week, and i make just a bit more than your $1,500 on your average week. to be in the hole as you said you were is not a good indication on my part that you are really doing well there.
After expenses and maintenance setaside, pre tax I am pulling >$2500 weekly. That's leased onto a carrier with my own truck, though, not a lease purchase.

Stick with being company, it seems your own math skills and comprehension isn't where it would need to be running a truck with your name potentially on the title.

Freymiller sounds paywise better than how the numbers worked out for a lease with Knight...
 

Ranger_375

Well-Known Member
Also I don't ever drive team with anyone and my wife is a type1 juvenile diabetic meaning she has been on injections since she was 12.she doesn't drive. We live in the truck together partly for me to take care of her and partly for us to travel the country together and she is a great navigator and extra set of eyes... Not that that is any of your business.
While having anyone on the truck set up to be able to drive does increase your profit potential, it isn't necessary at all, and if it IS necessary to be able to stay in the black then that is a huge red flag in my eyes. It sounds like you have a solid thing going, thank you for an honest representation of how things work over there.
 

braylean

Well-Known Member
look, as I said we have almost no home expenses, around maybe $ 400 a month. Am I getting rich? No, and I didn't crawl in a truck expecting to get rich. I do however, being reserved, clear 3900 a month after EVERYTHING is paid. That includes taxes and health insurance. Because of my gross, that health insurance will go up next year and that net will drop by about $800. I hauled grain last year making almost nothing and have pretty good subsidies this year. Even if I was renting for $600 a month my home expenses still come out at $2200 a month so I am covering expenses in two weeks and running two weeks profit minus truck expenses. That's $2200 free and clear each month. There is nothing wrong with those numbers. We don't need 10'000 a month to survive. It would be nice but not a necessity. You tell me I don't know what I'm doing, but I'm doing what I wanted to do as far as traveling the U.S. With my wife, I'm not killing myself to make that living and I'm keeping my expenses low enough to ensure my success. How do you figure I don't know what I'm doing. Almost anything that happens to my truck is covered under warranty, I have a maintenance account and a savings account to cover anything that warranty doesn't cover plus I don't sit if its down for a while...plus I can defer a number of payments if say something like a medical emergency arises. How do I not know what I'm doing? I understand some of you owner operators are privileged and got tons of money handed to you on a silver platter and others worked their tails off to get where they are. But I don't see where that gives anyone the right to say whether I'm making enough money or not. The amount I need is relative to my situation and I shouldn't have to air or defend my situation. To me and I'm sure many more, if I can clear as much or more than a company driver relatively risk free and also come out owning a truck, that's good enough for me.
By the way someone mentioned taxes, my estimated taxes for the year are $2000 and already paid.
 

dchawk81

Well-Known Member
Supporter
Doesn't seem worth the hassle to clear $3900/mo.

I'm clearing about $4100/mo after normal taxes + medical/dental/vision/401k and no deductions...not even claiming myself until I file. I work 5 days a week, and sometimes pickup a few hours on a 6th but rarely. Sleep in my own bed at night. Don't have to spend $ on truck stop food.
 

braylean

Well-Known Member
We don't have to do this, I was in this program before and my wife had extreme health issues and I had to leave and go local to take care of her. But we were renting a 3 bedroom home with all the associated expenses then and was doing fine. We chose to do it this way this time, she is with me andI can take care of her, we can take time off anywhere we choose and enjoy the sights together. Not a thing wrong with that. I should add that when I said those two checks wee in the red, I meant just that, the checks were in the red, not my finances. Maybe that will clear some confusion.
 

braylean

Well-Known Member
Doesn't seem worth the hassle to clear $3900/mo.

I'm clearing about $4100/mo after normal taxes + medical/dental/vision/401k and no deductions...not even claiming myself until I file. I work 5 days a week, and sometimes pickup a few hours on a 6th but rarely. Sleep in my own bed at night. Don't have to spend $ on truck stop food.
Good for you, I'm happy for you. I clear the same. Will you own the truck you're driving while clearing that in 3 years?
 

braylean

Well-Known Member
Btw, I sleep in my own bed each and every night as well, plus I'm working at home, lol. If you want to park in a yard and sleep in a house I'm happy for you. I will to art some point. Right now I am content right where I am. Where's the hassle? 10 minutes of math per load and mailing receipts to my accountant. Btw I do that much math on a company truck as well, I just don't have to figure fuel and discounts on a company truck. It's a real hassle not having to go whee I'm told and get three how I'm told. That day on the beach in California, that was really a hassle. Sorry getting a little irritated and my smart ... Is showing through. But honestly I don't see it as a hassle. I like what I'm doing. Yes otr is stressful and the regs are stupid, but really those are my only worries. I have some previous debts I'm attending to and if I stay on track they will be cleared by this time next month and then everything we don't need to live out here will be going in savings. You can figure that at probably about $600 or more a week. And my truck will have around 600 k miles on out when I hand over that dollar and get the title with whatI get from the company and that savings, I will be set to go anywhere I want in this truck and make money. I can get my authority and run here, I have connections to get me back into the oil fields, I have the connections to get back into hauling grain and so on. I'm not naive. I'm 50 years old for Pete's sake, I didn't get this old by being stupid.
 
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dchawk81

Well-Known Member
Supporter
Good for you, I'm happy for you. I clear the same. Will you own the truck you're driving while clearing that in 3 years?
I won't own the truck I'm driving because I'm not paying for it. Nor am I paying for repairs. Nor do I have any work to do when I'm at home.
 

Tazz

Infidel
both those checks above were my decision to let them get negative

And right there folks is why I ask what was earned after fuel, tax, maintenance, insurance etc etc etc etc.

To date this year I have been payed flat 78k in my bank account from driving. Never had to work on a single truck while I am "off". Never had to hide what I was doing on my time off. In fact never give a seconds thought to work while I am away from work.

I work 5 days a week, have 30 days paid off a year, and never ever have a "negative paycheck". That term in and of itself is an oxymoron. They should be truthful and say the company handed them a bill for hauling that companies freight.


You want to own the truck? Feel free.

Going have to go a long way to explain how working 3 times as hardfor negatib=ve paychecks makes sense.

No I don't care what else is going on in your life, or how lean you have made your life. That is white noise to hide the fact you are comfortable with getting a bill to work for someone.
 

braylean

Well-Known Member
Keeerist who wants to work that hard?

What was your net driver pay last year, and are you and the wife a team?
Sorry I totally missed this one. I wasn't in this truck last year. I was in a different truck in the program the year before for three months till my wife's health went south. My net for those three months was 15'200 I believe. I don't have that paperwork on the truck and I'm old so don't quote me on that.
 
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