A "bond deposite" or AKA Deposite Bond is in lieu of a cash deposite on your tractor. Typically done so no one will miss out on the sale or lease of said tractor. So, without the sign on bonus, you had a bad 3 days. $445.00. Without tax deductions. Wait untill the lease payments start hitting you, and the fuel purchases add up, permits and insurance costs, and paying all of your taxes, fica and disability insurance, plus health insurance. Etc, etc. Truck breaks down for a few days, no income. But all of the costs are still hitting you. Think about paying quarterly taxes so you won't be hit hard by tax time. I wish you luck.
bond payment is your escrow it's a fixed amount usually $10,000 if you turn tractor in damaged they will take repairs out of that and send u whatever is ledt
The bond payment at least for me was called a surety bond which they take out till you reach 1500.00. It’s put into escrow. You get the money back if you quit minus anything you might owe them. That’s how it was for me. The company I’m leased on with now did the same at a 100 per week for 15 weeks. Same but now I’m percentage pay. Hope I helped. Be safe brother!
mart rabots Kevin Moore I'll make a video once I get a settlement with a truck payment included. The first 3 weeks there are no truck payments, the driver pockets everything. This is to allow the driver to build up some Capitol.
Thanks, after Crst ill be joining with you there in U.S express thats my second company im joining. When im ready to join U.S express ill get your Driver Code for referral..
Bond deposit is a payment on another kind of insurance. For example, if you've ever hired a contractor for home improvement, you always want one that's licenced, insured, AND bonded.
it's 2022 are you still driving for US Express if so I would like to know how things are going for you I am thinking about getting into the lease program myself for US Express
hey good video, i was with us x, but had a small injury and didnot go back due to 3 trucks breaking down...they keep calling me for the o op position....
Hey it’s Cornbread here at Usxi as well great video but bad example cause it’s not truck payments before big shown on there yes true he or she made 900 but if truck payment and after taxes 300 bucks . Chasing that dollars amount on that Lp side is something else I love Usxi been here 11yrs million mile driver and I’m still learning but to be honest the % side where I’m at is better less miles way more money
Friend of mine went to 3 day orientation at a USX cattle call . On the last day everyone was asked if they would be willing to lease. Anyone who said no was sent home. My friend was one of them. Think about it, your paying over 2k a month for a stripped down fleet rig & dependent on the lessor for income to pay the bills. They have control of what you think is your business, not you. 1. You lease onto a company not from the company 2. You get paid percentage, not milage & you try for self dispatch companies. 3. You don't compete with company trucks, you lease to 100% O/O companies. 4. You become a corporation or LLC asap & protect any assets should things go pear shaped 5. Sign nothing before the contract is fully understood or a contract specialist & or trucking account is consulted.
Apparently mega carriers are the reason I’m sitting at home right now. Who runs freight for a dollar a mile? I won’t. Now I know why so many fail. I average two dollars a mile. Lease purchase drivers are nothing more than a glorified company drivers. Save your money. Buy your own used truck. Say no to cheap freight.
Kevin Moore I'll make a video once I get a settlement with a truck payment included. The first 3 weeks there are no truck payments, the driver pockets everything. This is to allow the driver to build up some Capitol.
Kevin Curry I know what my payment is, I was saying I haven't got a settlement with that included and that's why I haven't made the video yet! No I definitely asked all those questions before canw signing lol
Ok..the most important information left out? Settlements for lease purchase ops will not reflect the cost of the TRUCK which takes effect 4 weeks after you receive the truck.. If that driver had $650 deducted that week his take home pay would've been $300 so you need to hustle hard once those payments take effect! .. Please clarify that! The only way you can make money at Usxpress is by becoming a "driver trainer"..after the 85 hours of new driver gaining knowledge..you team up and you drive together! At that point you're getting every mile he does & you do..at that point you begin seeing about $3,000 take home after all expenses are paid!
Never lease with a company.. you’ll be better off financing a rig on a month to month basis. ! Get with a logistic company who will run you with good loads. You can get a truck with a 630 and up score even with a high interest rate you still make more money and you are in control of your business!!
They are screwing you on your fuel discounts here at dart we get as much as 1.00 off pump price plus our fuel surcharge average is about .50 per gallon and our maintenance reserve can be pulled anytime for anything and we can get paid after every load next day if you want . My daily cost including my brand new truck is 106.00 not including fuel
No it is not good. that will not cover your truck payment, much less federal or state income tax. you are in negative with that kind of money. you need to average $1.50 all miles to be safe.
My question is this to all you drivers that have leased from CR England, Usless Express and the rest of them!! Are you figuring in about what happens if you are injured on the job? Have you figured you taxes both Federal and State taxes? Also what if the freight dries up? Will US Express let you book a load through another broker or do you have to wait until US Express gives you a load? Most of the lease drivers cannot answer these questions!!
Yeah, Hey CPL brother!!!There is a good buddy in Cali who gives good info real plain and to the point, his youtube name is" "...But anyway you need to form a company!! The reason BEING IS CAUSE YOU CAN WRITE OFF EVERYTHING ALMOST!!!! So for example lets say your taxes is $1000 out of $4000 settlement, you can write off food, anything you bought during those loads, you can write off the pay you pay that company to keep your books, that $20, hell pay your lil daughter $300 a week or month to take your trash out, truck wash, tolls (EZ PASS,etc) p.maintenance, fuel costs, oil, and other fluids, scale tickets, etc, etc AND KNOCK THAT $1000 TAX DOWN TO $0 OR $100, ETC!!!!!!That's why you make a company instead of your own ss#!!!!Go to your state's S.O.S. Secretary of state website it costs like $125 only, print out your certificate, then goto the IRS site (Google it) and get your company E.I.N # Number for the company, copy that number down and the company info!!!Go give that to US EXPRESS and tell them you're changing from sole proprieter to LLC, C Corp tax and give em the info for your company and as soon as they change it to company get a couple pouches to gather your receipts, etc each week, put em in manila envelopes for each week/ and/ or each load, how ever you want easiest for you and that's it brother!!!!Give those receipts to that company that keeps your books, hell mail em in or at the end of each few weeks or moth, however you can!!! Peace and love!!!I was thinking about leasing with them as well....Are you with TEL company (white trucks)or the company lease (red trucks) with the 2015s???? (I want Volvo truck)Good videos!!!
That’s a terrible settlement no truck payment taken out the only good thing was that he got a $500 kickback from USX ,if he didn’t get that he would be a hungry driver selling his stuff at that love’s trying to get a hotdog and coffee , been there done that with leases to own at a fleet , best thing was I done was go out and got a truck from a dealer and found a better company to contract too.
They give u 2 free weeks with no payments when u start and the sign on bonus obv5u Will have a nice paycheck.show us the settlement 3 or 4 weeks later...lol see how they look.lol
I thought about going lease but after calculating the numbers in a 4 year time span I would be paying 160 k for a truck that I don't technically own so instead I'm buying a 2014 Peterbilt for 65k and month to month payments not weekly payments
$400 doesn't count cost of fuel or true cost of maintenance, so that driver didn't make $400 in four hours. What ever profit he might have made on that load went to that Massive lease payment. $1.15/mi? ---> going broke faster than you can drive.
Actually I did, maintenance and fuel came out first..as far as me going broke, I'm 8 months into it and about to pay 100k cash for a new house,, think I'm doing okay!
@@RobertCookdarkarts Hoping all the best for you. Do they pay for all of the fuel cost? Because something doesn't add up. Did you fill up your truck after completing both runs ?
Hey bro.. I’m thinking about to get into the Lease purchase program..at us express I already fill up the application and just waiting to get call... I just wondering how is.. you make real good money or average? I just want advice to see if I go or not Lmk thanks like ur videos
It’s only 3 days plus you have to start some where. At the end of the day he will be owning that truck once it’s paid off. Then he can go somewhere else and make big money.. Remember, you have to crawl before you walk.
It depends on the company. Most do have the option to team however team companies significantly drop the pay for solo drivers. So if you want solo make sure to go to a solo company. Like Swift, us express, and a few more.
Not sure how true this is from what I heard. But as a company lease with your company they won't let you run teams. Unless you lease from the third party leasing where they do run the credit check for there trucks. I will do some more checking on this. Keep putting out the great VIDEOS your doing a great job.
they're only giving you minimum amount of miles and your on a lease purchase??? got to be friggin kidding !!!better start racking up miles before they start kicking out your truck payment otherwise you gonna see some NEGATIVE PAY CHECKS!!
This is for a dock bumper.. a flatbed involves actually getting out of the truck and working to keep the load safe. Huge difference and even flatbed drivers are paid crap for the extra responsibilities and risk. If I'm going to put myself in a dangerous position I'd rather be making 4x-8x the money and hauling specialty stuff.
I marvel at you lease purchase folks.......us xpress and any other company have simply passed on to you, their depreciating assets.......and every mile you run, they are actually making a better CPM than you are! You! The guy who has signed a promissary to eat the costs of depreciation....shouldnt the guy making the truck payment make the full CPM?........if not, then you lease purchase folks need to charge some kind of "depreciation fee"......back to the truck owner.......
I'm looking to lease as well just not sure where. But my question for you is did you form an llc? My buddy did lease and not an llc and had to pay 7000 for taxes. Keeping in mind you file every 3 months.
Terry Ward Vlogs I did not, you do have that option though! I signed up for the accounting services through atbs , they get your settlement information directly from the company you lease with at the same time you get it and they do all the tax part by sending you estimated quarterly taxes due, they also do a complete profit and loss report to help you figure out where you are losing money and what's profitable, they create an entire business plan for your business. They take 20$ a well straight out of your check for this. Most people use them they are pretty big.
