Leasing A Semi Truck WORTH IT? The Truth, PROS, CONS & The $MONEY$ | Company Lease GAMBLE | BIG RIG
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- čas přidán 1. 01. 2022
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What do you guys think? Am I over paying for the lease?
not really because you screw up every truck you drive
You drive the trucks very hard, so paid maintenance is good for you imo. End-goal would probably be either lease it yourself to own or keep working on building a used one. You should keep researching opinions from experienced truckers for the best option for you, but currently Trucking is in a boom with high demand and it seems like a good time to work hard with good results. Of course, if you don't want the hassle of owning or fixing etc, just go work for a company and you get some of the perks without the headaches. You have alot of choices.
You’re making more money so NO. Keep up the great work
When the Volvo is finished wont you then be an owner operator? I thought that is the reason for the re-build.
I dont know the prices but the fact that you are making double than a company driver is pretty good. However like you said, you cant stop working, you kind of have handcuffs. So you better not get sick or injured etc... but I know you are the type of person who is very strong and soon you will have your own truck and much more.
I've owned my own trucks and trailers now for 26 years, I'm 44 now. I've done a couple lease purchases to where I own it at the end, basically no different than a loan. Me personally I'd never pay that kind of money for something that I didn't get to keep at the end. My last truck I bought was in 2009 and it's a 1999 379 Pete with a 550 Cat and I paid $16,500 for it and no problems until this year I put a $7,000 transmission in it. I run locally and home every night and have weekends off and still gross $27,000-$28,000 and net $21,000-$23,000 per month. People think they need a new truck but I'm here to say that there's nothing wrong with a really nice and clean older truck. A lot of the guy's I run with that have new or newer trucks have huge payments and are in the shop quite regular and when you're in the shop the warranty might pay for the repair but it won't pay you to sit in the shop and it sure won't make your payment. Mine is old enough I can do all my own maintenance and repairs when needed which isn't often saving me a ton of money. A truck that makes money is one that's paid for.
Wow. You can net 20k a month and be home every night?
I was day cab LTL driver in Chicago 1995-2005. I live in Ukraine now. Im gonna go back to the States for a while soon. Id like to get into a lease to rent I think. Sounds like a good fit for me. Im no mechanic, so I want maintenance free program
I can live anywhere when I go back. Ill go where I can find the best opportunity. Home every night is cool, and Im open to regional and OTR
If you, or anyone reading this, can give any advice or suggestions I'd be grateful, thanks
Nice
Do you have a CZcams? I would love to learn more about your experience
Thanks for your time and informations
@@pracitab same
Getting a lease contract is definitely worth it, these new trucks break all the time, you don’t have to pay for anything that isn’t damage. If the truck breaks down they will provide a replacement
Side note, had a 2024 freightliner cascadia sleeper come into work with check engine lights and shutting down, turns out it needs a cpc already, national back order for months, since it’s a lease they won’t pay a dime
That’s what they make you think. They don’t loose money. Everything comes from the driver
I’m happy for you, bro. I’m anxious to see some new longer 30+ minute videos of you on the road like you used to do.
Soon
Ive been an O/O for quite a while, running a 2014 Peterbilt at the moment. One of the things to be very careful about before diving into full owner operator is to be sure you have enough set aside to cover a few months downtime and/or major failure before you buy a truck. The rates currently for freight are very good, I was looking to upgrade/sell/trade mine this year but the market has gone stupid with truck pricing.
As long as your happy and making money that's all that counts. 😊 God Bless and be safe out there Rusty.
Fact of the matter is , nothing comes for free. Company driver you don't think of anything but driving and make less. Owner lease or owner operator takes a lot more risk but payout is higher if you're a smart operator and do your homework . That's just the way it is and you can't have all , like almost everything else in life
I live in Riverside County, Palm Springs, California and have had my Arizona CDL for 1.5 years. I am 61, combat retired Veteran and never had a citation nor accident in my life. California under AB5 that is currently before the United States Supreme Court and is on hold from enforcement would destroy the Owner Operator so no company like yours are leasing in CA any longer as the new law requires OO to be employees of the companies they currently contract with. This state will learn a lesson when 90,000 owner operator and drivers stop hauling here! There already is a desperate shortage and company drivers are paid now 75-80 cents per mile with guarantee weekly pay of 2K or close to it with days off too! Thanks for your response.
I bought a used truck for 25k. I had it paid off In 5 week's, I had to put 3k in parts into it tho. My friend bought it and I drove it like a o/o , he took his 20% for trailer and dispatch, I pay truck insurance. Now I get to keep the 80% and hopefully it don't blow up lol .
Just got my learners and my dot physical, got the medical card and ready to get my cdl in 5 weeks, I am getting lots of nuggets from your videos. Thank you for the content
Another great video man!Keep on trucking :D
Thanks for the info Rusty! Good luck in 2022!
Thank you
If you're comparing buying equipment with a loan to leasing, the basic difference is the tax you'll pay. With a loan, you claim the interest and a fixed depreciation percentage per year. The tax advantage is best in the first year and then reduces as the loan shrinks and the equipment value falls. You will own the equipment at the end of the loan, that's generally how loans work.
With a lease, you pay a fixed amount monthly for the term of the lease, which is less than the loan amount because there is a residual amount set aside at the start. If it's a four year lease with a 50% residual value, you're only efectively paying for half the equipment, which can make leasing cheaper, unless the residual is low. For tax, the lease payment is claimed for and remains consistent over the term of the lease, unlike a loan. You can still purchase leased equipment, you'll be given first option to pay the residual amount if you want to keep it.
Things like "free" maintenance will be added and rolled into a leasing amount, but should be considered seperately if you want to compare apples to apples. Many companies prefer to lease as they have consistent payments and they maintain a relatively new fleet. Obviously with any loan or lease, you have to pay whether the equipment is being used or not. No point moaning that they still want to be paid even when you take a holiday.
I agree, I didn't understand why he was too upset about paying the lease when you take days off. Makes perfect sense to me. You pay rent in an apartment even if you sleep a night at a friends' house 🤷♂️
Doesn’t Section 179 let a purchased tractor be depreciated the first year? Note: I am not a CPA or tax accountant, however I used the 179 last year on a 100 K garbage truck and pleasantly surprised!
@@Abdulaziz2003 like you said you’re practically renting that semi so does that means that you’re for sure going to be getting good loads??
Happy New Year Rusty
those P4s are really nice, when i went through freightliner tech training we got a 2021 p4 Cascadia with the gen5 DD15. Very nice trucks
Ppl have got to remember, not everyone has the ability or credit to buy a truck, some ppls situation makes leasing better than company but not as good as owning. There is no right or wrong answer that is for everyone.
Thanks driver for all that Info. , You have a wonderful day!
Good Luck on your next step as owner operator, you encourage me to take the next step, I've been driving for over 20 years, 3 years as flatbed driver with Greenbush Logistics out of Abbeville Ala., and 13 years as Dry Van, with CLAXTON Poultry, I guess my next step is to rent for Ryder, wish me luck!! Thanks a bunch!!
Good luck m8!
I believe they ask for a huge down payment to rent with them urself directly
I passed by a Euro Lines truck yesterday morning on I-20 east thru BHam yesterday and thought it was you. Congrats on the new step upwards!
Did you read the contract ? Did you understand the contract ? Did you understand the pricing ? Do they give you enough work to cover your expenses ? Did you sign the contract ? SO many don't look at the fine print, and it's their own fault.
I'm glad your happy. You would be far better off as a O/O driver.
14 years O.T.R.
Read every inch of the contract my dude
Thanks for all those details. I always wanted to know how all that worked. I was a company diver for 33 years. Hung it up in 06. Hitting 100,000 per year then. I liked being home a lot, the heath care, pension, etc. Most of all, after home time was lack of headaches and having to still work when off and not being paid for it. But, I believe in each his own. Love your honesty.
Man you will be in so much better shape when the Volvo gets on the road you are over paying but you got to do what you got to do
Happy new year Rusty !🇦🇺🇦🇺
welcome back bro ❣️
Thank you for the video.Wish you Happy New Year and God bless you with health and happines!
Your English is fine dude, don't sweat the small stuff! Thanks for posting, excellent video. Hello from New Brunswick Canada.
First and foremost; Happy newyear!!! All the best wishes to you and your family!! Hope you may have an awesome and safe 2022!!! As long as you are content with what you do, who am i to say to you what to do?!?! I just know i enjoy your video's...😀😀
Sounds like you are going to make some even better money when you get your Volvo on the road. Happy New Year from London, UK.
Love your honesty thanks bro!
Welcome
Happy new year bud
You doing great job bro. God bless you
Happy New Year, Rusty- great video
Thank you
Great video as always.
Have you considered doing a video on how the electronic log book works and what's the difference compared to the paper log book? Thanks
Seems like a big headache! Hope your well and Happy new year! Keep up the good content !
That's just it, it's a headache for some but for others it's just an aspect of the job and making money.
Happy new year to you and your family be safe and enjoy always enjoy watching
Hi rusty u need to complete your semi rebuild and use that truck..
Great video Keep it going
Thank you
Happy new year Rusty👍
Thank you
Happy New Year Rusty 🎉✨
Thank you
@@TheRustyCracker Your Very Welcome Sir.
Happy Holidays to you and your Family
Hi Rusty, I'm kinda new here. I really do like your content especially since I will be becoming a colleague of yours in like 4 or 5 months from now. I have never been to the USA but I'm so pumped up about coming because ever since I was a kid I was dreaming of living and working in USA and my dream is about to come true very soon.
I have a question tho. I heard you saying you don't speak good English but actually you do. I also heard you saying something about the Slavic way in one of your previous videos. So my question is where are you from? If it's not a secret, of course. I'm asking because I'm also Slavic.
Happy new year and keep up the good work man 💪🏼
So how many accidents have you caused? How many other trucks and trailers have you scratched?
Happy new year and safe travels
Very interesting videos Happy New Year.
Enjoyed your ride and voice very helpful. Also please make video on numbers of you want to lease out truck for passive income through agencu having its own fleet
Thanks for sharing the info
Happy Xmas/New Year Rusty's here!
Thank you
All the best for 2022👍
I leased a 2020 Volvo so far so good.....I pay 620 a week for it but it's a good start to learn the whole business......also doing it to rack up more money to buy my own
I'm pretty sure that the Cascadia you're driving in this video has the Detroit engine. As far as I know you can only get that Detroit 12 speed trans (DT12) with the Detroit DD engine.
That weekly lease price sounds like a lot, but if it includes insurance and maintenance in the truck then it’s probably not that bad. Especially if you get a brand new rig like you got. It’s still a lot of money for sure, but if the math works the math works.
Nothing is better than having your own truck
@@lukemilenov1670 baby steps sometimes, not everyone can drop 150k for a new truck off the bat.
@@phatnum17 100% true… I’ve been saving up since I got out of high school and I’m finally ready to get me brand new t680 lol
@@phatnum17 try 240k for a brand new one now
@@mikenike1616 even if it’s custom ordered?
When a new truck price is 200, and after 150k miles it’s 140, you have to put these 60k into your expenses. And you will never find 500k+ mileage in a rented truck I believe. Think about this when you guys will compare lease payments and expected maintenance costs in case you think about an “almost new rig” ;)
Awesomeness buddy
I enjoy watching your videos.
When my dad’s semi truck broke down and the middle of nowere and theres service so they called them and then they said they will arrive in 2 days, also the problem was the starter failure
Hey there’s another option that you didn’t mansion on your video is least purchase program it’s even better one . at the end 2or 3 years the truck is yours and you pay same price
as you paying now or maybe less.
Also you could save on ELD if you have your own tablet and apply for your own fuel card
. Good luck
Hi rusty like the videos keep it up!! I do want to ask a question though….Im a little confused do you need to leave the truck engine running while you are on break/overnight to keep the heaters on and any accessory’s you have in the sleeper going? As in the uk and Europe all sleeper units have auxiliary batteries to power them with the engine off. I’m just curious. Peace ✌️
Some trucks have heaters that use diesel fuel. Mine has that but not all trucks from factory come with them. For AC I use a battery powered unit. I did a video on it not too long ago. Thanks for the question
A new long block is basically half a year of $900/wk payments if you own a truck out of warranty and have a catastrophic engine failure and it can't be inframed.
Love the video bro thank you for all the good information I have one question does Ryder gets you the runs or you need to find your own work
The company on the truck I’m leasing from loads me
@@TheRustyCracker wow I did not know that Ryder did that very good information thank you also can't wait to see the Volvo project brother I will be here waiting lol
Sorry if I missed it in this video but....Do you have to stay with the lease company or can you haul loads for another with the same leased truck? Thanks in advance!
That's the Dames Point bridge. Great view. Been over it a million times!
I love your channel, I watch your videos while playing American Truck Simulator, hahaha
Great Video 👍👍👍👍👍
You might want to check the trailer, I think the pin bounced on the jaws, tug test before you leave, know what I’m sayin
I leased with prime made 8-10k a month. I don't know what o/o made but as a new guys making thay money, I was excited.
Neptune Beach saying " Hey, Love your videos" I just retired a year ago and already bored. I've been thinking about getting my Class A and driving. Your videos have been really insightful. Thanks. On a side note, did you think you would find a decent truck wash in jax? LOL Next time check out the place in Jax Beach on 3rd street. They do everything.
Thank you
Happy New Year
Thank you
Leasing a truck you will never own is not worth it. By the time your check is all factored every week you're not really making any more money than a company driver, you just carry more risk.
Rusty when are we going to hear about you owning and running your own truck fleet? Maybe have it on your own reality show too to boot.
"Sell your soul to the company store!" Tennessee Ernie Ford
I'd say it's about being a share cropped in the late 1800's, they take their share & dribble what remains to you
What if the guy I sign under is creating a hardship? Not providing adequate loads or loads that constantly cancel
Hey Rusty my Uncle got his CDL on Monday in Utah and he has not decided which company to work he got 4 offers
so you need like 2 drivers one for day one for night and and at the end of the day you do switch and like own RV
While leasing do you have to get your own dot# or does the leasing company provide them? Also are you only able to run loads through that company or can you do something like Uber freight and jb hunt
You use there everything. They hve to load you.
So if you aren’t keeping the truck at the end of a lease purchase program, than it’s better to work as a company driver for the next 2 to 3 years and save enough to buy your own truck. I think that be a better option in my opinion.
If you have more responsibility leasing the trailer, make sure you always maintain the axle oil, its easy to do. Use a good quality oil. I think 18% is a little high. If you had a Reefer unit on there it would be worth 18%, without the Reefer unit IDK, a little high. I think it would be nice to have that Reefer trailer to make more money on loads that require cold storage while transporting. What say you Rusty?
The trailer gets maintained by company who loads me. I don’t worry about none of that
@@TheRustyCracker so the company is a kind of they dispatch you a trip and it's up to you take it or not and any mechanical failure to the tractor and trailer responsibility of the company right?
Your English is perfectly fine!
Brother I do love e every single of all your videos, I'd like a good advice about leasing program. I'm thinkim about to jump in it!!!!!!
I was with prime years ago and now I'm just local but I loved been on the road. What company are you leasing from. If there any info you can give me I'll be really appreciated. Keep the good work. God bless you 🙏
Leasing is good if you wanna RUN HARD and anticiapte to run INTO REPAIR and or maintenance? right?
Also if your truck is down, for whatever reason, repair, tow etc.. does the lease payment prorate? to when your back and running again?
Why wouldn't you wash the trailer its part of the truck. You need to have a clean truck to represent your company
Insane, time for you to become a true owner-operator. But, if your happy, that’s all that matters.
That is ALOT better than CRST in total fees for me besides the variable fees I pay 1,115 plus the per mile fees and fuel per week and they take 30% of the load
Paying way too much from the payment to the percentage. Im a Jacksonville based carrier myself & my company drivers are making $2000-$2500 a week and owner operators are making 4-10k a week depending on how much they run. I don’t offer lease options just company and o/o but I know companies offering much better lease options where you keep the truck at the end for cheaper rates & none of those fees.
Hay man 🖤❣️
I'm doing almost the same thing the company I'm with uses penske...and they charge a flat rate not percentage and I book my own loads
What company????
I thought Prime was expensive but they are looing good now lol
The main thing in trucking is it good for you. We all have different bills and lives. As long as I pay all my bills, I am making more than their co drivers, and throwing stuff into saving Im good with it.
15:16, 5th wheel need adjustment.
I see a broom on the back of your truck.. time to upgrade that to a leaf blower
Lol maybe yea
Landstar does not lease trucks. I personally think you are paying to much, but you do not have to pay maintenance so it does balance its self out. But my argument will be the fact that you are paying $900.00 per week to pay for someone else's truck.
I spent many months reviewing different options before deciding to buy my own Semi, and then lease on to a company.
I pay a lot less on my monthly payments ( $14400 per year ) against your ($46800) so that gives me a very big buffer for breakdowns and maintenance of the truck. ( I pull van trailers owned by the company and they are free ).
You gotta finish the Volvo ASAP. 900 a week seems a lot to me.
Yea maybe
For real not even a brand new long nose Peterbilt is that much a month
Why do you not get to keep the truck? I'm doing a lease/purchase through the carrier. At the end, its mine. Most lease/purchase are the same way. What kind of deal did you get in to?
Loads with your own trailer pay way more than 18% higher than power only loads so that Dispatch fee wouldn't phase me
But your burning more at 70 plus mph over 55-60mph plus 55 ish per mile more the wind/drag increase multiplies by an increasing multiplier figure.
My 2020 international (lease) gets better gas mileage at 65 then it does at 55-58
@@dopeymomasboy All depends on Weight hauled and trailer esp height as longer/higher trailers + more Aero drag plus how close coupled to trailer
@@buckrogers2828 agreed.
What about health insurance and workers comp if you are injured?
If you can walk away any time then it's worth the shot. And if you can't or there's any restrictions on walking away at any time then it's not worth paying even 400 let alone 900+. The numbers are tricky, yes good money comes in but too much going out plus responsibilities vs a little less with no headache and can quit and find another company if you're company driver. As a company driver I average 2200 and drivers average 1500 2k+ I guarantee you he's not making double of that at the end of the month. So buy your truck full in cash or find a good company with good pay but as far as lease or rent stay away unless you wanna be in the hole sooner or later.
😂 I've been to that Joe Reed truck detailing place before. It's crap to get into there with a trailer too.
Next truck if they give you a choice of trucks ask for a. International lt
Left lane bandit. Very professional.
Yeah I think you can get a much better deal for the same truck financing or even a different carrier, meanwhile learn how to keep your own book
What is the required experience or any requirements for this lease? Can I lease straight after getting CLD A?
yeah, you can but you going to have a lot of ALOT of questions....I am about to get my CDL A...I Will probably go to work for the company and learn all about the trucking industry then like this guy I will lease or finance my truck through credit. AFTER year or 2 by then I will have driving experience and know about truck industry.
I’m owner operator it all depends
A. If you know your equipment
B. If you know how to fix stuff
C. You gotta run hard then yeah you’ll make money.
I can honestly say I made over 200k clean last year but I ran hard.
Yea all depends. I’m at about 120k but only was on the road like 5 months total
@@TheRustyCracker
Keep going bro I like your video I been following you for while 👍🏻👍🏻👍🏻