I admire the attention to detail, honesty, and hard work when turning those trucks back in. We do the same thing with our apartments, we return them in better condition than we got them and would do the same with turning in a leased truck. There is something fulfilling and rewarding to be a good person.
Glad to hear that it has worked out for you. The fact that you completed your lease and want to continue with the company is a testament to how Prime values driver retention.
Grats on finishing your first lease. Great video. I'm hoping to come to prime soon to lease in tankers. Thank you for doing a breakdown, and what to expect
Outstanding info. I think that their are many more drivers who did not do as well as you than drivers who have done better than you! Your end of lease payout shows just how well you have done running your LLC. I just subscribed . I was an owner op at TMC for 8 years paid off 2 trucks and one trailer you did as well as me in not better.
Good point to always leave the vehicle you're turning in better than you found it!! I do this all the time with rented construction equipment and rented vehicles. I don't have any leases as this isn't my area but for rentals it is just a sound policy.
Very informative video. Unfortunately I tried leasing with Prime for a few months. Then made my way back to company driver. I think my FM wasn’t that great. I was only bringing in about $1100-$1700 a week. $1700 being my highest check. Me bring a company driver tho, I was bringing home about $1300 (after taxes and deductions) every single week, besides while I was home for a couple days. Prime is definitely the best starter company anyone can join, they helped me in many ways. Keep up the great work.
Thank You so much for your time and interest! I do feel that Prime being a training company lease is most beneficial while teaming/training. Once that truck is paid for you can return to solo operations with over $1k less overhead, which in turn will substantially increase your revenue potential! Thanks once again for your time!!!
Hey man congrats for finishing a lease! I did 2 years at Prime inc and have moved on to bigger and better things. Keep in mind. You are paying $900 (used) or $1000+ (new) for a truck payment every week. You are BUYING that truck. Only you are buying it for Prime inc instead of your business. I've had this talk with plenty of new drivers there at Prime inc. Be careful of getting sucked into lease upon lease and nothing to show for it. A $30,000 bonus (based on your miles driven) is nothing compared to a well maintained truck worth $80k - $90k. That's exactly what Prime sells it for. Finance a cheap truck and lease on to Prime or do a lease purchase. Is just my friendly piece of advise. That's what I did, only been in business 2 years and working on 2nd truck on my fleet.
Joshua Darovitz congratulations on your success! I’m glad Prime got you started and going in the direction you needed to go. The great thing about this company is it’s so versatile and can be tailored to each individual operators needs/demands/wants. I wasn’t ready to buy yet as We have several other irons in the fire and due to the economic state of the transportation industry at this very moment, we’re just happy to be profitable with a sound and steady freight provider such as Prime. I’m sure buying will be on the docket much sooner than later🤑
Same here. Leasing from prime or similar companies never made sense to me. You are literally paying for primes truck. Just my 2 cents, to each their own
good video my nephew just completed his 1st lease with Prime in Jan of this year money is there to be made with Prime but its a business not a tourism bus. left door closed and the wheels have to be going round and round.
That’s amazing! Tell him I said Congratulations!!!! Yes there’s plenty of money to be had here! It’s on the asphalt for the taking! Thanks so much for Watching!!!
Thanks for a great video. With this latest lawsuit, there's a lot of bad press about Prime. I believe you make your own destiny and your success proves it. Thank you for sharing all your info.
@@fr8sk8r I appreciated you taking about being professional as well. I'm in TNT right now, so I'm fairly new to trucking. But I have seen a LOT of unprofessionalosm. It's good to see a professional voice. Just found your channel, so here's one more sub.
Thank I you so much Matthew! I’m sorry about the delayed response I’m just now seeing your comment! Please apply and don’t forget to use my driver code DEDWWE as your referral code! You won’t regret it! Thanks for your time and interest in the channel! I look forward to hearing about your story!👊
That’s Awesome John! I appreciate your time and interest and I’m glad you enjoyed the video! When you’re ready to pull the trigger and come to Prime, please don’t forget to apply with the Link Below👇 and please use my driver code DEDWWE. My recruiter Heather Murrill will reach out to you ASAP!👊 intelliapp.driverapponline.com/c/primeinc?referrer=heathermurrill
Thank you for all your amazing information. Did you consider purchasing so at 36 months you would have an asset or continue to lease? Enjoy a wonderful and blessed day! 🤗
Thanks for this info! I've had a hard time getting honest info from other lease drivers since all they want is for me to give them a referral. I'm currently on the company side considering lease, how was your freight while you were going solo? Was it pretty consistent? Did you have freedom to pick your loads even while solo?
Yes I always stayed at a consistent revenue. My gross average as a new driver was roughly $1400 gross per week. That average is with all downtime figured in as well. Yes you do have the freedom to pick your loads on the load selection program even solo. Even if you’re not on Prime’s load selection program you can still accept or deny any load you want. Thank You so Much for Watching and your time and Interest!
@@fr8sk8r so i take it part of the 3 years you were teaming? kind of hard to tell real break down cause if 2 ppl are doing 100k/yr that means each doing only 50k. seems rough for that kind of life style
Thanks for sharing. Seems to be a very lucrative career. Your making money and so is the trucking company. Its great. How does a supermarket keep food prices so low? I'm thinking its volume of items?
Not sure about the food/reefer side of things, but I would say volume is a huge factor! Yes this is a very rewarding career as long as you put your 110% in, you will see the return and results you’re looking for. Thanks so much for Watching and all of your time and interest!
I'm planning on getting my cdl through Prime in June. My husband plans to follow me after our son has completed high-school. We want to drive as a team all the way through to retirement. That gives me about 15 years. Do you recommend leasing or just being a company driver for this kind if situation?
If a driver comes over to prime with one year over the road experience as a flat beder do they still have to go out with a trainer? If they do how long do they have to go out with the trainer for?
Usually experienced current drivers will not have to go out with a trainer unless there’s something that’s not up to par or a safety issue with your past. If that’s the case it shouldn’t be more than a 10k mile(roughly 2 week) training period. It all varies by situation. Apply online today and a recruiter will reach out to you ASAP! Thnx for Watching!!!👊
I drive for Prime too. My lease will be up in 30 days. Would like to know how soon after you turned in truck after inspection, and all. How long did it take to get your payout/ bonus? I'm asking because I'm not going to get right back in a truck. I'm using the 59 day policy after end of lease to take a break. Thanks..
Miss Jazzi Bri Call Dana in the office at Success. She handles the payouts. She was awesome through everything. It took me 3 days to get Green inspected and swap out to my new truck, and my lease completion was on my very next weeks settlement. Thanks for watching! I Hope this helps!!!
So you must have no intention of becoming an owner operator . Finish one lease and hop right into another . What is the advantage of leasing over being a company driver ?
Yes total revenue means ALL revenue. I know I put the total weeks of the entire lease, but after almost 3 years it’s very hard to remember exactly how many days/weeks the truck was officially dispatched and moving. I do apologize. At the end of this next lease I will definitely bring the heat💪 Thank you for watching!!!
Thanks for all the information. I’m heading to prime next month, and, my BIGGEST fear(or two) is: 1. Going negative and having to owe the company, 2. Something going wrong / truck broken down. I’m still going to consider all of my options, but what would be your advice? My family situation is one child, and my wife. Thanks for all your insight. - Brandon
Hey Brandon! Thanx for reaching out! I had 5 kids and a wife when I started Prime. I went lease straight out of the gate. Everyone’s experiences and goals are different. I knew I wanted to own my truck eventually and I needed the freedom to go home as needed, so that’s why I went lease. As far as going home, and going negative, there’s many ways to combat that, it takes planning. Once you know how long you wanna stay out, calculate your bills at home for the week and divide it by the weeks you plan on being on the road prior to going home. Just put that much cpm(cents per mile)In your savings acct to cover your expenses. For EX: You plan on being out 6 weeks before going home: your bills at home for your home time week are $1500(not including truck payment), you’re averaging 2500 miles per week solo, so $1500/(2500 miles x 6 weeks)=0.10cpm that you need to put in the savings in order to just cover your home life expenses for that week. As far as equipment is concerned, the unexpected will inevitably happen with any equipment, but Prime carries 600k mile warranties on our truck and they are maintained very well. If you’re on a regular lease, they also offer break down pay($250/day) after the first 24hrs of being down due to equipment failures. This helps offset overhead costs while waiting for what will most likely be a warranty issue to be resolved. I hope this helps Brandon, I look forward to seeing you and hearing more about your journey to Prime!👊
@@fr8sk8r Thank you so much for your response! I’m currently doing that now (getting savings so I can be out of a check for the better part of 2ish months (over estimating). I might consider leasing. How would you average 1500(or more) per week? To make it simpler I suppose, what would be your advice to your younger self about leasing? Anything that you learned later on that would’ve helped the new lease you. Again man, I appreciate ALL of your insight into all of this man. Much love
@@TwitchyHarp you can definitely be bringing home $1500+ as long as you’re efficient and consistent. It’s definitely not out of the question. There’s plenty of money here to be made, way more than just $pm. Prime has a ton of incentive/bonus programs as well.
@@fr8sk8r Okay. Any tips you would pass onto someone who is just getting into leasing? Even if it’s little stuff? Thanks again! I anticipate I’ll start with prime middle of next month, I’m getting lasik in about a week, so I’m going to let that heal for 2 weeks just in case lol. Thanks!
@@TwitchyHarp stay efficient and consistent. Follow the system and utilize resources here at hand in order to maximize your profitability. Also don’t read into what everyone says, believe what you know is true, and remember, haters gonna hate😂
So Im starting with Prime Inc on the 11th of October. Hoping I can get my CDL and get driving with a trainer. Do they push leasing through them? How much paperwork and accounting is it for the driver? Ive never driven a truck before, so want to keep it as simple as possible for me at least my first year. Can you lease after a year as a company driver and still get these benefits? Whats the out of pocket costs? Like maintenance, accidents, etc?
-Prime does not pressure anyone to Lease -daily/weekly paperwork is easy, keep up with your income/expenses(I like to write all mine down) -hire a tax professional(CPA) experienced with small businesses particularly trucking small businesses so they’ll work for your best interest come tax time(pay yearly or quarterly) -you can lease straight out the gate after training, but the same benefits as a company driver will not be available. We do have several Lease/OwnerOp benefit programs available through sources at Prime though 🤑 -out of pocket costs(fixed and variable) will definitely vary truck to truck, operator to operator. I will tell you this, my trucks total cost per mile for the last 64 weeks of my current lease for all ACTUAL MILES is $.86.090cpm and that’s ALL COSTS with a flatbed trailer AND paying another driver. I hope this helps👊
Hi, good video. I just subscribed. Question: the 151 week net revenue of $388,396 is after you pay co driver salary? How do you pay your co driver? Thank you for the info and education Sorry you may have discuss it in other videos.
Yes that was net to me. All of my trainees salary is automatically deducted from my operator settlement through Primes payroll system. The trainees are guaranteed $800-$900 per week based on 5000 miles or less weekly. Thanks for Watching!
So I’m getting ready to start my flatbed TNT phase, and I’m on the fence about Leasing or going Company, I really am leaning towards leasing because I’ll have a better option for trucks other then freight shakers. Any advice from you would be greatly appreciated. Thanks.
Good break down. Thanks for the info. Have a question about the weekly net. Is the $2572.16 avg weekly net before taxes paid, or were the 1099 tax deducted in your calculations? Thanks. Be safe out there.
All number are pre tax, but the standard 30% tax assumption really won’t apply due to the fact that a lease/OwnerOp will have so many deductions. You’re roughly looking at 8%-15% actual tax rate overall. Thanks for Watching!
Okay, thanks for the reply. I figured it was before taxes, but just was trying to get an accurate estimate. I also subscribe to Tim Travels and have picked his brain on lease vs. company. With the way fuel costs and freight rates, I not sure now is a good time to get into lease/owner operator. Have been tossing an SFI lease with a load board gig vs. PRIME lease. Anyway, thanks again for the reply and your content. Be safe out there.
You can actually currently purchase Regular Lease trucks at the 2 year mark of the lease through the “Schedule C” clause of the Regular Lease contract. I’m not saying this won’t change in the future, but that’s the current situation! Thanks for Watching!
If you and the wife are in the truck......where are the four girls? after you mentioned them, thats all I could think about. Where are you building your house? hopefully somewhere down south...
Thomas Carroll jr. My wife just drove up to Springfield from GA to help with the swap out, she doesn’t drive with me. We have family that helps with our girls as needed. We are building in GA south of Atlanta.
Oh, I thought you 2 were teaming.....Georgia, good choice, the girls are going to love that new house. Looks like you,re going in the right direction, good luck....
Delrico Curry both. I am on the load selection program, but if nothing fits my needs, I will ask my FM to plan me based on what my truck needs at that moment. Or if sales needs my truck to cover something they will make a request for me to take a certain load wo me actually picking a load. Overall it usually all works out💪🏽
Who supplied you with the paper with the final numbers? I'm about to turn in my 3 year team lease truck in a couple of weeks. Truck currently has 605,000 miles . Leasing wouldn't let me turn truck in early and making me run the full lease term. Preciate the video man! Super helpful.
All the numbers are mine from my statements, down to the penny. I dealt with Pam and Maddie mostly in leasing. Hopefully they’ll get ya in soon for completion! Thank you for your time and interest!
@@fr8sk8r Ahh, ok. Good deal. Yea, they told me I could turn my truck in 1 week from the anniversary of signing my lease. Which was March 5th. So I can officially turn it in on Feb. 27th.
Considering Prime Lease Option, really want to be an Independent Contractor so I can take my family with me at times, as well as take time off whenever I would like. Thank you for some of this information; would you recommend becoming a trainer while leasing so you get the team miles while the trainee gets their guaranteed weekly pay as a way to pay off the truck faster?
All I can say is What are you waiting for🤑? Yes I definitely recommend training while buying a truck. The revenue is great and Prime always keeps you rolling! Please don’t forget to use my driver code DEDWWE when you apply! You won’t regret it! Thanks for Watching!
@@fr8sk8r Thanks for the response. It's something I'll definitely consider! I've got my CDL road test coming up and then I can see about applying! Just gotta get clean of weed.
So what is that 37k at the end of the lease for? I am leasing since February and they only had short term lease trucks left over to pick from.. what will that look like for me?
It’s totally goal oriented. If you’re wanting to eventually own your own truck, leasing with Prime would definitely be a great opportunity to learn a lot of the “ins and outs” of the owner/op side of the industry!
Mr B would love too, but we are under contact at the moment and building a house🤑so we at least have one more lease left before we buy. Time just isn’t right. But with this lease we just finished, we were able to build a house and get Momma a Yukon Denali...we’re very blessed! The road doesn’t stop here I promise💪🏽
The breakdown is towards the end of the video. I would have to actually watch it again to be precise, but I believe my first 30-32 weeks were solo then all training after that. Thanks for Watching!👊
It’s hard to give you an accurate number because everyone’s situation and deductions are different, I advise you to put up 20% per week for Taxes. At that rate you should never owe anything close to that but definitely not more. So if your settlement pays you out $1800, take $360 of that and put it in a savings account. By the end of the year, after all deductions are accounted for, you shouldn’t owe near 20% and you’ll end up having a good bit left over in your savings.
Carolina Bird Dog I recommend anyone wanting to lease with Prime to finish one regular lease first and then Ace Lease(lease to buy) after that. Reason I say finish one lease first is to get your feet wet with the experience of the business side of trucking and to perfect your business method so when you’re ready to buy, you’re ready💪👊
adama warcey I’m not ready to buy yet. Reason is we are using the majority of the EoL bonus for our house being built! Maybe after this lease we will buy one! We will definitely do a video on it for sure!!!🤑👊🏽
I currently train Primes new drivers. The revenue isn’t split 50/50. Prime guarantees their trainees $800-$900 per week. That’s what we pay. Training/Team gross revenue is between $7500-$9500 per week.
@@fr8sk8r I didn't know if they used them for company drivers or training purposes lol I'm considering going to CDL school with Prime and I don't know if I want to do Lease or drive Company. I figured if I commit to Prime I'll do at least a year with Company then choose what I want to do. I also don't have any CDL experience.
@@danielkustra9071 if you come here, this will definitely be your best first step forward into the industry! My email and number is listed below in the description! HMU with any and all questions! It may take me a few to get to you, but I will always respond!!!👊👊👊
Delrico Curry not sure if we can lease lightweights, but would definitely save fuel on Dead Head miles and lighter loads, but I feel you would definitely be taken advantage of when they load you super heavy. Check with Success and they can fill you in. Thanks for Watching!!!👊🏽
Now tell me what your tax cost was per year including the EOL taxes. dont forget what you paid your co driver. bonuses are taxed like over time at 1.50 the rate. So im guessing you did all that work and avg what? 30k a yr? just fyi i also completed a lease with prime.
kevin emerick Oil changes(PMs) we’re due ever 75k miles. Prime actually has a list of maintenance items listed in their app and their intervals that their due. It’s really easy to always get done what you need. I always used the terminals service, or a TA. I could’ve used Freightliner as well but it does cost a bit more.
Are these numbers you stated after taxes or is the clean money where you still have to file a 1099? Your video really has me wanting to do lease. I’m actually at Springfield right now quarantined until my Tuesday COVID test.
These numbers were pre tax net. The reason why is because everyone’s tax exemptions/deductions will be different. My tax bracket numbers won’t be everyone’s numbers.(by the way, these are extremely old numbers, rates are only going up!🤑)I’ll tell you this, if you’re gonna experiment with owning your own business in this industry, I can’t think of a better start than leasing with Prime! Thanks for Watching!
@@fr8sk8r ohh okay. Good to know. Yeah I’m in Springfield now just was trying to learn some things about leasing because I don’t know if to go lease or company driver after TNT
So what. Happens at the EOL if you decide to be done with trucking ? Do you get to walk away with the EOL bonus ? And are there any other fees to be paid ?
Once you complete the lease and turn the truck in, after any maintenance expenses required to bring the truck up to selling condition for Pedigree trucks, the EoL is all yours. Prime gives a 59 day leeway time in between leases before your contract is considered null and void. So you have at least 58 days and some money in your pocket to decide exactly what you want to do. Thanks for Watching!
It’s actually way less than that usually less than 15%. The write offs are endless in trucking. Play your cards right, you pay minimum taxes and show a good profit!
Trainees are guaranteed $700-$800 gross income per week @5k miles per week. Anything over 5k miles they earn an extra 14cpm - 16cpm(for all dispatched miles) depending on what stage of their training they are in at the moment. Now as a lease operator/independent contractor/owner operator(whichever category you fall into🤑) their entire regular gross income, bonus mile income plus their FICA, FUTA, SUTA, workman’s comp, and wellness benefits are automatically deducted from your settlement weekly. As a Flatbed operator, we are reimbursed 7cpm training pay for ALL dispatched miles every week. So last week for example, my current trainee grossed $707.90 for 4985 miles, I paid out $891.03 for him(all income plus HIS company benefits) and I was reimbursed $348.95 for my training reimbursement. So I was financially responsible for $542.08 for my trainee last week. Keep three things in mind: 1. Prime only reimburses their flatbed division trainers, reefer & tanker are 100% responsible for their trainees ENTIRE wage. 2. Your reimbursement amount per week can be higher or lower than prior weeks bc it is based on dispatched miles, so higher mileage week= More training reimbursement pay, lower mileage week equals less training reimbursement pay. 3. The wages you pay out as an Independent Contractor/Lease Op/Owner Op trainer are all a tax write off at the end of the year🤑. I hope this helps explain some of the training cost aspect of training here at Prime! Thank you for your time and interest! Thanks for Watching!👊
