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Prime Inc tanker - lease vs company
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- Опубліковано 4 бер 2016
- My next most requested video! All your questions answered - how many miles do company tanker drivers average? Whats the pay difference? Why did I choose lease over company? As always, feel free to ask questions below, share, like and subscribe! Thanks for watching....
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OMG, you said it all with one paragraph. When I decided to lease many years ago, EVERYONE said you are stupid, you will lose everything......the list goes on. I come from a small rural town, poor family, no hope for an education because I didn't see the importance of striving for a scholarship, assumed I would be a factory worker like my dad. By 25, I started to realize that I was stuck with no hope. My cousin drove a truck and bragged about the money, and I thought if he can do it, so can I. I drove company for 3 years, and made what I thought was a fortune, going from 250 a week to 1k made me feel rich. I decided to lease against everyone's better judgment. 5 years later, I owned 3 trucks outright. Leasing has gave me a life that I could only have dreamed of when I was younger. I got lucky sometimes, but mostly was trial and error. One of the most repeated comments to me was "why would you make the truck payment for the company? your stupid" To which I laughed and thought, what do you think you are doing as a company driver? As a matter of fact, the company driver pays a lot MORE toward their truck than a lease operator. Shortly after I started my lease with them, my brother also started driving, but he was horrified by the all the stories, even though I was successful. I begged him to go lease, but he went company instead. I happened to be in Springfield for a PM when he got his first company truck. We both got the same load, a pick up in dodge city, and delivering in Carlisle pa. It was about 1300 miles, and paid him 450ish while I made almost 2k(meat loads pay good). Same load, same miles, same amount of time to get there, same amount of time away from the family......he just got paid a lot less. He turned the company truck in 3 weeks later and leased a truck, and we have been running together ever since. Another successful lease story. Treat your settlement like a settlement, NOT paycheck, the business expenses come first, and you will be fine. Most drivers tell lease operators they are stupid for leasing, I say THEY are stupid for NOT leasing, why would you turn down more revenue for the same miles and time away from home?
Chris Daniel Great story thanx for sharing.
HUH?? "Company drivers pay MORE toward their truck than a lease operator"???? LIES get the heck out of here man. You contradicted that statement when you said, "TREAT THE SETTLEMENT LIKE A SETTLEMENT, NOT A PAYCHECK..." Company drivers get a paycheck buddy.
If anyone is buying this "ANOTHER SUCCESSFUL LEASE STORY" as he puts it, is as busted up in the head as he is.
@@safia9536 Bruh, you sound like a loser. lol
I pulled tankers for Prime until I retired from the road. I was a lease driver and made great money. Loved my truck, and you can have it turned back up to factory settings. If you want to make money, lease, and keep the left door closed. My truck was brand new. Keep in mind that also as a lease driver you can pick routes and fuel stops. Stay safe!
How much were you taking home after payments a week?
@@ervinosmic6370 to be honest I don't remember. It was really good money, even my wife was happy. If I ever went back OTR it would be with Prime, pulling tankers, only way I'd go.
Wish you were a trainer. I'm Prime as well. Reefer division. I started in school bus too. I tried being a "tanker yanker", but had a bad experience. I'm almost to to yr and your videos gave me hope. Think I'm to scared to try again.
John something I think all drivers should consider is, if it is better to lease the truck from Prime or from the dealership. At the end of your 3 year lease you will pay $171,000. You can buy that truck for about $120,000. I feel the best move is to lease or buy the truck then lease it onto the company.
Well, it's not that simple. What percentage of new drivers can get financing for $120k? What percentage of new drivers will still be in trucking after one year? Does it make sense to buy a truck if you've got a handful of months experience? There's enough left to talk about that I plan on doing a second leasing video soon....
You may buy a truck for 120,000 if you paid cash. If you take out a loan at 6% APR over 4 years you would pay 150,000. Plus not to mention 10 to 25 percent down payment, and thats if you have good credit
John, I do not think any driver just getting into trucking should lease or buy a truck at all. I've worked in the trucking business for over 25 years in dispatch and mangement, and the failure rate on lease purchases are highest among the least experienced drivers. Why would you want to lease a truck if you don't even know if you want to stay in this field of work.
Another excellent video John. Some points to note, over time you learn to tailor your situation to suit your needs. I am on my seventh truck, second with Prime. I chose not to get the APU, because I am home, like you, almost daily. I just couldn't justify the extra money each week, for that one night I might be out over the course of two weeks or so. Another, Company pay is mileage based, and the lease is percentage based. Usually the shorter the trip the better the pay for for us lease guys. Why would any company driver take a 50 mile trip at 45, 48, heck even 50 cents a mile? So 1 hour down, 2 hours to unload, 1 hour back. For about $25, or maybe $50 if they get paid for empty miles. Do they?
For that same 4 hour trip we get close to $250, which will cover our daily cost, then we grab that second load for the win.
Coop
I have considered removing my APU, but haven't yet. You are 100% correct on the short runs for lease vs company, but that's why I said it wasn't an apples to apples comparison. Thanks for watching
Great job in explaining the difference between the two Kool didn't know u guy's had tanks thank..
My trainer at Prime didn't teach me shit. Only did what was most convenient for him. So glad I'm done with the training now. I'm at Springfield trying to decide on Company vs Lease and I can't figure it out. My trainer was/is a lease op, but getting any info from him was like pulling teeth.
Seems like everything is slanted toward the company wanting you to lease, which kind of makes me leery to sign a lease.
I don't know where to go to get some honest help.
Rising Awareness if you didn't get the appropriate training to be in your own truck - you should say something to Prime - or you may fail or get into an accident before your career even begins. at bare minimum, I'd suggest waiting on leasing until you have a better grasp on the industry. good luck with your decision
I appreciate your response: thank you :-)
I learned how to drive well; it's just that I didn't learn much of anything about going lease, even though my trainer is a lease op. It comes down to a lack of compatibility between myself and my trainer. We had a hard time communicating, and so I eventually just kind of gave up on picking his brain, asking questions, and getting information on leasing. I thought about requesting a different trainer for tnt when my psd was finished; but honestly, I didn't want to have to wait even longer to start tnt.
I've done the math and figured out two basic things about company vs lease in the reefer division. In order to break even with a company driver, I need 2500 miles per week at $1.18 per mile as a lease op. Or, 3000 miles at $1.10 per mile (or some combination in between that would net me a take home pay of 46 cpm). So basically if I go north of these figures I will make more per mile as lease op than as a company driver. And, of course, everyone wants more compensation (and rightfully so) for the sacrifice made of being out on the road for weeks on end and being away from family.
I would probably opt for lease if I just knew for sure that I wasn't going to make less than a company driver. There are some things I really don't like about being a company driver. (1) Having the route dictated to me. If I prefer to take a detour because of preferences, a sight to see, or weather issues I have no option to do so. (2) I don't want the small truck. I want to be able to take family members on the road with me at times; and without a second bunk, it won't work. And with the lightweight truck, I'd need to remove the passenger seat anyway just to have some living space for myself. And I don't want an automatic transmission either. (3) I really want to take my dog with me. She's a couch potato and would do very well in the truck, but she's well over the weight limit allowed in a company truck.
Many people (including yourself, right?), like my trainer, started out in the industry with Prime as a lease op and have been successful, having no prior experience in the industry. I'm starting to think I'm going to sign a lease, because I feel as though the drawbacks to being a company driver are deal-breakers for me.
I work hard and I'm going to run hard and take little home time. I know what I'm capable of putting in. But there are some unknown factors still, such as: how good is my DM going to be to me? I just got assigned a new DM and, lacking a crystal ball, I'm not sure how good the loads will be and how much I will be moving.
I guess, like anything, there's a risk involved with trying to better your situation. So, I'll probably just go for it and see how it goes. Unless I can land a dedicated run from Prime out of the Salt Lake City area (where I'm moving to next year), I'm probably going to go to work for someone else in a year so that I can be home more often. If I start company now and, say, want to go lease in a few months, my chances of getting a lease of 8 or 9 months will be more difficult than if I just do it now. The shortest leases available at the moment would finish right about the same time my one year obligation is up.
Rising Awareness sounds like you have a good head on your shoulders. I'm on vacation today and tomorrow with the family, but feel free to contact me with a message through UA-cam, & I'll try to help you out as best I can, and would be willing to talk with you once I'm back to work.
Yes I spoke to the head of tanker and they prefer me to live closer but said doesn't mean I can't do it. Said money wise is 700-800 bottom to 1500-1800 top end I'm assuming it's take home? At least I'd hope. Said living where I live I'd be home at least once a week and could park truck at the terminal and wouldn't be out of Springfield like I am doing as a current refer TNT driver due to not enough stick time in my career so far. If I went tanker I'd go lease just like I am if I stay in refer. Don't know many people doing it so by chance is it worth it? Very new to your channel. I know I commented on another one of your videos
Jay Da Trucker where are you from
Hahahaha Former Kingsley Stag, cool you lived in TC... I know this is old but thanks for posting interested in Prime for sure and weighing weather I want to do Tanker vs reefer and Company vs lease so this is super helpful dude big thanks
Thanks for watching. Do you still live in Kingsley? Prime has a reefer dedicated from Reed City, MI to Murfreesboro, TN. Good luck
@@JohnOgren I don't live in Kingsley anymore I live down in Kalamazoo but like 1/2 my family lives in Reed/Morley lol.. I honestly hadn't been seriously considering tanker until I seen your videos so I'm def going to go down the list man thank you again for putting these out. The more I look into prime the more I am feeling it
@@christopherwahmhoff9348 living in Kzoo, that Reed City or what I do in Decatur, IN would get you home probably every weekend. We have a guy that lives in Kalamazoo now that runs out of Decatur.
@@JohnOgren that's awesome man, I'm definitely ready to put work in.. I work security now .. I have my permit and I'm waiting for a family surgery to jump over to prime.. the recruiter I had quit but I will talk to them about tanker when I get ready to head in for psd
said u hit the nail on the head!!!👍👍👍
good points, depends on how it fits your needs and wants. some research I've came across suggested a good lease provides you the things you want, and a 1/3 more pay for the driver. One point I see evolving quickly is the law and taxation or fee of Obamacare. Do you include that in your fix cost, variable coat, I understood the you said gross on mileage pay, but that one item is a huge requirement. I had Bronze, it's was trash coverage, but it was $650.00 a month in 4 months that is $2600.00. the point made by most is in the lease program your responsibility for non- warranty parts versus, actually making more then a company driver with less responsibility. In my option if your in a lease you should, with do diligence, make 1/3 more then company driver. thank you for the excellent video. it is very hard to compare apples to apples when you don't have the exact information, and each is a bit different to each individual set up. your doing a good job. 👍👍👎👏
+Benjamin Duke Your health care premiums would be considered a cost of doing business. I'm not a CPA, but they should be tax deductible. I guess it depends on how you acquired your insurance. Did you go through the exchange or did you get a non-marketplace plan? The cost of benefits are what keep a lot of people from starting businesses. Then you try and save for retirement.
No, insurance and or other benifits are not included in my fixed or variable costs. That's a great point - I should have mentioned that. As an independent contractor, you are able to get insurance through Prime, but I do not. My wife is a nurse, and I get insurance through her work. Sorry for any confusion.
Yes. That's why I have a CPA
Funny how your second trainer left and complained about not making money but when you with him you saw first hand how lazy he was and how irresponsible he was. All I know is if you try your best to never run out your 70 you should make good money
when truck is paid for, then you see the real money.
i realize I am kinda randomly asking but do anyone know a good site to watch new movies online?
@Harvey Douglas try flixzone. Just google for it =)
@Ira Memphis Yea, been using Flixzone for since march myself =)
@Ira Memphis Thank you, I signed up and it seems like a nice service :D Appreciate it!!
@Ira Memphis thanks, I went there and it seems to work :) I appreciate it !
what load does the lease driver haul compared to the company driver? you mention that you both don't haul the same loads.
A company driver may occasionally run the same loads as I do, but what I meant was that doing dedicated loads full time vs OTR driver doing OTR loads and occasionally doing dedicated loads. Hope that makes sense
Yup that makes sense. I understand what you saying. Enjoy your videos.
Hey I just want you to know I use you as a reference thanks for your videos tanker division stand up
Thank you sir! Good luck and stay safe
Great information!
$21k income for 4,5 mos driving tanker?
NO
Have you heard how much a OTR Tanker Driver makes vs. Dedicated Driver? Just curious.
It's really almost impossible to say. I know what I'm making, but if I had to guess, OTR guys might see a bit more fluctuation in pay than I do. Mine stays fairly consistent.
Hey John, love the videos and they have definitely provided me with a lot of useful knowledge! I'm making my way into prime, my recruiter said that I am approved for tanker dedicated being I live 30 min from the Bellevue, Ohio I told my recruiter about your videos which helped me make my decision on tanker dedicated. I do have some various questions so if you have time and are willing to answer please let me know!! Thank you and stay safe out there
Oaschia Cross send me a message here through UA-cam - that's the easiest way (I can't message you since you don't have any original content)... Thanks!
John Ogren thank you I'll do that once off work
Oh god man ,get on with it....
Thank you for the video.
Hey John you know when the 579 are gonna show up I saw where prime brought 900.
I believe soon. 2017 trucks are already arriving at Prime.
+John Ogren Ever thought about getting into Radio ?? RADIO VOICE !!
Why yes, I have thought of a career in radio. Watch my "who, what & why" video & you'll find I spent 17 years in radio before I started in trucking
John Ogren I'll definitely check that out. Thx.
Hi, John, What does Prime Tanker normally haul? I mean does Prime haul fuel or food haul?
kamara_trucker kamara ua-cam.com/video/mHS7aVq9NVg/v-deo.html
what happened to the truck after you finish the payment to the truck ? Does the truck belongs to you and you don't worry about the truck payment any more and lower the fixed cost in general?
Buer Jiang mine is not a lease purchase
Shit my tanker trainer grossed 281k from January to the middle of October he trains often but I mean yeah do the math he’s otr not regional tho
meat2207 training. Apples and oranges to what I do. Thanks for watching tho, hoss
John Ogren no prob just wanted to give a little info to the people who don’t know or want to know I understand the difference for sure I’m contemplating northeast regional or otr myself since I live in jersey I have all the three options
John Ogren I don’t know what hoss is 😂
im so confused, 17k and 21k are annual income numbers???? thats minimum wage??
Yes, you are confused. Or, more likely, you weren't listening to what I actually said. Which was that these figures were for about 4 months of work. Not annual income.
How long is the lease? At the end is there a trade in value or do you have option to buy?
Reefer is a 3 year lease, flatbed & tanker is a 4 year lease. You can change to an "Ace" (lease purchase) lease at any time pending Success Leasing approval & down payment
I live outside of Detroit. Is there a chance I could get the dedicated tanker account? Where would my home terminal be located? Do Prime have any drop yards or customers near Detroit?
EmpireStateExpress01 1) yes 2) Decatur, IN and/or Bellevue, OH 3) no drop yards, but yes customers
Ok thank you +JohnOrgen
+JohnOrgren
hey john love the videos got a question for you I'm coming over to prime to go in to the tanker division there is a dedicated account out of Newark, NJ and I was wondering if I could make a good living leasing on this account or should I do the company driver thing
Joshua Sample I used to know a driver on that NE regional, but he no longer works for Prime. he leased but left after his first year was up. sorry I don't have more than that for you
John Ogren thank you john
Hey were you doing these numbers (17k - 60k) by the year or the mth?
terrell davis I think you need to rewatch the video & pay closer attention to ALL the info if you're asking this question
Did you go to prime Inc CDL school to get your CDL License and tanker endorsements thanks keep the kids coming
Yes sir, I did. My "who, what & why" video has some details on my background. Apparently, Prime is no longer allowing PSD'S in tanker, so you will need to get your CDL in reefer or flatbed & do the second part of training in tanker.
+John Ogren I'm considering coming to prime tanker division. I have my CDL W/ tanker and Hazmat. with the slow winter months approaching would it be best to go company vs lease?
Without knowing more info, I can't and won't make a recommendation for an individual.
do you have to have a hazmat to do tanker
no
That's all tax deductible, so you get pretty much all that back.
Why don't you buy your own truck instead of leasing?
That's a good topic for a video. The simple answer is I can't afford it. Don't have good credit. I'll do a video & go more in depth on Prime's lease-purchase options as well.
Thanks for the response! Looking forward to that video!
38,176 MILES / 6 MONTHS IS APPROXIMATELY 1600 MILES PER WEEK. IS THAT ALL THE MILES YOUR DRIVING? PERSONALLY I WANT TO AVERAGE 2500 MILES. YOU SAID THAT COMPANY DRIVERS ARE AVERAGING SOMEWHERE AROUND 2200 MILES. / SORRY BRAND NEW SUBSCRIBER TO YOUR CHANNEL,,, I HAVE SOME WATCHING TO DO AS I SEE YOU HAVE POSTED QUITE A FEW VIDEOS.
Two comments - first, August to December is 5 months, not 6. Actual average was just over 1800 miles per week. Second, and most importantly, I could care less about miles. As a lease operator, it's all about revenue. I do a dedicated account that is more or less regionalism/local, meaning short runs. For example, today, I have a 160 mile round trip run paying almost $2 a mile. Bottom line, company drivers worry about miles, lease operators worry about revenue.
John Ogren does prime push lease on a new driver? I would prefer to be company for a year until I learn the ropes
how much you gross per week?Just got with prime tanker as lease operator
I've said many times that I'm a bad person to ask - doing dedicated vs OTR is comparing apples to oranges. I go home every night & could make more staying out OTR. That said, I averaged about $1300 a week before taxes in the busy season & about $900 a week currently in the slow season.
+John Ogren Is the 1300 & 900 a week before fixed and variable or after? In other words gross or net?
Ron Hunter ua-cam.com/video/zrtX1ES6Qi0/v-deo.html
How much do you make a week?
late night ua-cam.com/video/IQIvJdlidGs/v-deo.html
so with tanker do you never have to worry about being overweight going thru dot scales?
Not necessarily. With an unbaffled tank, like we run, once you figure out the fifth wheel setting, it's a case of knowing how much you can haul without being over gross. You could still pick up a preloaded trailer that has, say for me, 52k lbs of product, and I'd be over gross & over weight on probably all my axles. Unless you scale the load, you'd never know. Many shippers we go to have scales on premises, so like I said, knowing your fifth wheel setting & knowing how much you can haul is the key.
+John Ogren thank you for the reply. i live in Columbia, SC and am going tanker with prime in 3 wks. All your videos have helped very much. cont the excellent work!
Im thinking about tanker or flatbed. How is it going for you so far?
Donnie Brunson no problems man.love it
Thats what i like to hear. Would you recommend tanker or flatbed? And on avg about how much will i make weekly doing tanker?
Nice info. Does Prime operate in all 48 states or mostly east of the Rocky Mountains?
Prime operates in all 48, Prime tanker is mostly east of the Mississippi. I explained it in further detail in my "tanker options" video.
John Ogren do they hire from fl to go to school
Smokee McGhee for tanker? Florida is difficult to get you home unless you are near Savannah, GA. contact a recruiter to find out for sure
what about health insurance
I do have health insurance through my wife's work. I have no info on what Prime offers
+John Ogren I have just a tanker for now
Lease is a trap to make them money
VTR DOG dude. Let it go
do they only haul gas or what
Eazy Rider sigh... Right. Gas. In tanks labeled "food grade." Um, no ua-cam.com/video/mHS7aVq9NVg/v-deo.html
huh
@@toniohughes , reading comprehension
Get to the fucking point!!! Never mind screw your point I’m gone. ✌🏾
Wish you were a trainer. I'm Prime as well. Reefer division. I started in school bus too. I tried being a "tanker yanker", but had a bad experience. I'm almost to to yr and your videos gave me hope. Think I'm to scared to try again.
Wish you were a trainer. I'm Prime as well. Reefer division. I started in school bus too. I tried being a "tanker yanker", but had a bad experience. I'm almost to to yr and your videos gave me hope. Think I'm to scared to try again.