Lease Purchase Prime is the best I've found so far. Any better deals?

I've been going through all of the 0 down walk-away leases. Prime seems to be the best one. I can live with the 65 mph governor. I love 72% of load. Other drivers have told me that 2500 to 3000 miles per week is easy.

Does anyone know of a better company for a zero down lease?
 
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ready to roll

I ain't got no panties
I would not lease unless you were going to train or get a dedicated route. Going otr and leasing didn't work out for me when i did it with another company.
 

Mike

Well-Known Member
Staff member
I love 72% of load.
How do you know you love that? What is 72% going to net you per mile for total miles driven?

Think this all through, because you are touting percentage pay, then finishing your comment up with a focus on miles per week.

not picking on you, but unless you plan on buying this truck, it's pointless to lease. If you do plan on buying this truck, do you really want to be running it 3,000 miles per week? How much truck you gonna have left when it's paid off?

Study these numbers hard, and make sure this is what you want to do.

I have no idea what the average rate is for what Prime hauls, maybe somebody else could chime in with that. However, at 72%, even if they are averaging $2.00/mile, you are down to $1.44 before you factor in empty miles.
 

ready to roll

I ain't got no panties
Dont know how prime does it but It aint easy getting 2500 - 3000 miles a every week with lease deals from other companies. Get a load to laredo and then sit there for 3 days looking for a outbound load is gonna put you in the hole where its very hard to bounce back. Same thing if the truck goes in the shop even when its covered by the warranty. Home time? Forget about it! I speak from exp on the laredo part, lol.
 
Ok. Cool. Thanks for replying so fast! I really need to get a hold of the contract and read it hard. I really wish I could get ahold of some real numbers to crunch.
 

Mike

Well-Known Member
Staff member
Ok. Cool. Thanks for replying so fast! I really need to get a hold of the contract and read it hard. I really wish I could get ahold of some real numbers to crunch.
Your only going to get rates from actual drivers, expect any company to be dishonest with you about the numbers.
 
The o/o's that I have had a chance to talk to at length have been very positive. Their responses have been better than other companies. BUT they do get money for referrals.
 

Mike

Well-Known Member
Staff member
Another important thing about the contract is finding out what all they charge you for, and if leasing, what the mileage cap is before they start charging you for overage on miles.

Plus, what are they charging you for insurance, and can you insure outside the company?

Little things add up quickly. Some cheapskates out there force you to have things like a qualcomm, then rent it to you.
 

krelithous

Well-Known Member
Supporter
Another important thing about the contract is finding out what all they charge you for, and if leasing, what the mileage cap is before they start charging you for overage on miles.

Plus, what are they charging you for insurance, and can you insure outside the company?

Little things add up quickly. Some cheapskates out there force you to have things like a qualcomm, then rent it to you.
and it seems like most of em charge for these little things!!!
 

Mike

Well-Known Member
Staff member
and it seems like most of em charge for these little things!!!
I can remember the days of being charged "by the character" for the qualcomm. I think you got a certain amount per month for a set charge, then you had to pay by the character for any overage. Matter of fact, I think that is what Prime did back in 2002.
 

krelithous

Well-Known Member
Supporter
I can remember the days of being charged "by the character" for the qualcomm. I think you got a certain amount per month for a set charge, then you had to pay by the character for any overage. Matter of fact, I think that is what Prime did back in 2002.
i remember when i was looking i didn't ask if the tattle tale was unlimited or if it was by the character. the one thing i do remember is that some of these low lifes charge you to install it to the tune of $400 bucks. you want my opinion i feel that i should not have to pay for the tattle tale if they REQUIRE it!!the only place i would have saved any money is on the insurance as insurance is killer out here it's just insane!!! take the same truck and register it as an RV and my insurance went down to 300 a month vs thousandso_O
 

ironpony

Professional Pot-Stirrer
Supporter
I would not lease unless you were going to train or get a dedicated route. Going otr and leasing didn't work out for me when i did it with another company.
I did, and am doing just fine at Prime... I've always been solo.

Dont know how prime does it but It aint easy getting 2500 - 3000 miles a every week with lease deals from other companies.
When you're paid percentage and fuel surcharge, its not about miles. You need to accept or reject loads based on how well they contribute to the minimum daily revenue you need to generate to cover your costs, and provide enough profit to cover your needs. That being said, minimizing costs is huge, and your number one cost outside of payroll is fuel. The fewer miles you run to generate your required revenue, the greater your profit will be.

I rarely run that many miles, and try to avoid it at all costs.

Get a load to laredo and then sit there for 3 days looking for a outbound load is gonna put you in the hole where its very hard to bounce back.
"Sitting" ain't part of how Prime rolls. The only time I can recall much of that was in '09, during the recession. Freight in Ohio sucked. There wasn't any, and everyone planned on spending a couple of days there.

Same thing if the truck goes in the shop even when its covered by the warranty.
Lease ops receive breakdown pay after the first 24 hours. It covers the bills. Freightliner/Detroit really stood behind their product in my opinion.

Home time? Forget about it!
Lease ops at Prime can go on home time whenever they desire. As a 1099 contractor, the IRS rewuires that you are able to control your schedule. Its basically only limited by your need to generate revenue. I never had a problem being unable to pay for home time, and only went in the hole a few weeks over the last several years.

I speak from exp on the laredo part, lol.
Speak from experience about whatever carrier you were driving for.

I've never had trouble getting loaded in Laredo with Prime. They have a lot of cross border traffic that gets picked up on the US side - frequently drop 'n hook.

Your only going to get rates from actual drivers, expect any company to be dishonest with you about the numbers.
Lying to prospects gets recruiting staff fired at Prime. First they don't need to, because there are plenty of applicants. Second, Robert Lowe doesn't tolerate it.

I'm sure a call to leasing will get you a sample lease. Their quotes for average weekly revenue will be a little murky because it does vary widely - I generate somewhere between $2500 to $6000 per week. The bottom end figure usually is a week that I take a couple of days off, I'm in the shop, etc. $6000 is usually a home run week for me.

It's been my experience that recruiting quotes a conservative number.

I can remember the days of being charged "by the character" for the qualcomm. I think you got a certain amount per month for a set charge, then you had to pay by the character for any overage. Matter of fact, I think that is what Prime did back in 2002.
Yep. Ancient history.

The Qualcomm system is necessary to carry on business, and that is Prime's ELD solution. As such its a business cost borne by the operator. Flat charge per week.
 

Injun

Rabid Squaw
Staff member
Supporter
I never had a problem getting load assignments from Prime. Problem I had was sitting at the meat or poultry packing plant waiting for my load to be ready. Plainview, TX, Dodge City, KS and Garden City, KS were the worst.
 

ironpony

Professional Pot-Stirrer
Supporter
I never had a problem getting load assignments from Prime. Problem I had was sitting at the meat or poultry packing plant waiting for my load to be ready. Plainview, TX, Dodge City, KS and Garden City, KS were the worst.
I'll agree, getting stuck at a packing plant totally sucks. I'd say that's more a problem with either individual dispatchers, or something they finally worked out.

I had that problem on the company side prior to '10. I've not had that problem on the lease side. Worst case is usually a 10-hour break after deadhead, and its ready. Frequently they've been ready when I arrive.
 

Injun

Rabid Squaw
Staff member
Supporter
I'll agree, getting stuck at a packing plant totally sucks. I'd say that's more a problem with either individual dispatchers, or something they finally worked out.

I had that problem on the company side prior to '10. I've not had that problem on the lease side. Worst case is usually a 10-hour break after deadhead, and its ready. Frequently they've been ready when I arrive.
It wasn't unusual to spend two or even three days at Plainview. I learned how to take a bath and wash my hair in a 4" deep sink. I also learned the hard way that they turned the water off to the guard shack on Sundays.
 

ironpony

Professional Pot-Stirrer
Supporter
It wasn't unusual to spend two or even three days at Plainview. I learned how to take a bath and wash my hair in a 4" deep sink. I also learned the hard way that they turned the water off to the guard shack on Sundays.
Plainview is long gone. You get Friona now.

:D

SSDD.
 

dchawk81

Well-Known Member
Supporter
Who cares about miles. Less is better than more when you're anything but a per mile company operator.

What I want to know is...."72% of HOW MUCH?"
 

ironpony

Professional Pot-Stirrer
Supporter
Who cares about miles. Less is better than more when you're anything but a per mile company operator.

What I want to know is...."72% of HOW MUCH?"
72% of the contracted line haul rate, fuel surcharge plus accessorials.
 
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