Prime Inc Tanker - Leasing vs. Lease Purchase 

That's how I look at it. Ive been in several leases as well as company drivers. I make roughly 25k more a year doing lease op.. I also like nice new things lol... So i hold a truck from a few years then get another. With prime there is a payout for completing a lease so its like a big hunk in my pocket hen too..... If i owned it I'm responsible for all the repairs which an engine replacement would hurt. Whats good about these is they are walk way with no big penalty, sometime you lose a few hundred. So as long as every week im netting more than I was driving company after I set aside taxes I couldn't care less. If the engine blows it goes back. If repairs take longer than a week I send it back, unless that company provides loaner trucks, which some do

Most customers are pretty laid-back, so t-shirts and shirts are fine. I wouldn't suggest wearing anything you care too much about though, as you WILL get messy. There are a few customers that will require steel toe boots, long pants & shirt sleeves and a hard hat. Some will require a safety vest. Those are the minority.

All depends on trainer availability

@@JohnOgren So Newbies can start their CDL Class A with tankers via Prime?

@@DallasFort1857 again. Depends on trainer availability, but, yes

1) no 2) no 3) my deadhead as a regional dedicated is completely different from what an OTR tanker would experience

@@JohnOgren Thanks John. P.S. What would an OTR tanker experience ? How does that work.

@@rodleithner7931 my job is based in one shipping location & I deadhead back when empty. OTR after empty your next load picks up typically closer to where you delivered

@@JohnOgren Thanks John.

My understanding is, yes. Pay is set up so it is somewhat equal for each division.

$4k a month for repairs? Over the length of what? Over the 4 years you're paying it off? I don't follow the question

Over the length of anything, 1yr 2yr 6yr... If your repair costs are less than 4k each month, On Average, you'd be better off having the paid off truck than a lease truck. If you spend abt 4k a month on truck payments, through a lease, you end up trading that when you own. Instead of a lease payment to a bank, youd have to save for maintenance.. you follow?

@@MrChapstick2010 so your saying paying one off is the way to go with a semi instead of doing a regular lease with a company where you pay 4K a month and get back 17K bonus after you turn it in 3yrs?

@@MrChapstick2010 another question do you buy a brand new truck with warranty and have payments for 3 to 4yrs or buy a used cash truck for like 20K and pray the last owner took care of it lol

@@streetscutlass5155 everyone's situation is a bit different. If you're gonna stick with trucking owning the equipment might be the way to go. Just some math, if you take 17,000/ 156weeks (52weeks in a yr ×3) comes out to $109. If you can set aside 109 a week on avg, you'd have 17k after 3 yrs.

Nope

Tankers have a raised 5th wheel. Otherwise, they are the same

Sorry, I am not a trainer

You get your own or Prime offers insurance for lease ops that is different from company

Last average I heard was 2500 & none I'm aware of. Seeking a trainer outside Prime's matching system is strongly frowned upon

As I said on your other comment, 90+% of Prime tanker is east of the Mississippi

@@JohnOgren Ok. Thanks.

Lease you pay. Prime does set aside 2.5 cpm into a tire fund for you from your revenue to pay for tire expenses - repair or replacement

CAN you? I suppose. But you would be forfeiting thousands of dollars a year for not much benefit.

Yes, lease ops are responsible for repairs not covered by warranty. You can set up an emergency fund, either a set or variable amount per week, that you can use for anything you need, including repairs. While I have an e-fund, I rarely use it for repairs. Instead I use it for when I take time off. Prime will typically "break up" repair costs into smaller weekly payments with no interest rate.

Loading & unloading is not figured into the fuel surcharge. Then again, after the first tank, neither is reefer fuel. Probably comes out even in the wash

@@JohnOgren Makes sense, thanks for the reply.

You don't get paid the lease completion until EOL, so yes. You pay taxes when it's paid. Not before it's paid

@@JohnOgren ah, thanks for clarifying. Great video by the way

$1.507

Please contact Success Leasing to discuss your options

Prime does not have a load board

@@JohnOgren so you don’t have the freedom to chose your loads?

@@eddiemartinez3022 you are sent a load. Either you say yes or no. Pretty simple

@@streetscutlass5155 Prime does NOT have a load board. They have a load choice program which is undergoing beta testing. It is NOT a load board. Also, tanker had it first

@@freethuggar trainers, team driving, solo, dedicated, regional. Apples ain't oranges, yo

Going home every day? Cool story

What company ?

Foreigner express

@@Mike_Greentea No sir, I work for Cheeseman, an American company.

Prime tanker is 90+% east of the Mississippi, although there are a few customers west. Depending on how recent, no, you shouldn't have to go out with a trainer.

That is a good topic for me to address at the next Driver Advisory Board meeting. Until I have an answer, please email me your questions at johnogrenprime@gmail.com and I will try to get you some answers

Prime pays a variable interest rate for the tire fund, performance bond & anything in the emergency fund. The rate changes every week.

@@JohnOgren Great! Sounds fair to me

@@JohnOgren so they pay interest while holding your money?

@@zachmiller2521 you read my reply about variable interest and still asked this question?

@@JohnOgren making sure I’m understanding it right. Watched a lot about the tire fund and inventive payout but you’re the first to mention paying interest is why I asked

Depends. Outside Prime? Possibly. With Prime? If you can save $70k+. Prime has fairly strict requirements for age of tractor and safety equipment, etc. that means you can't just buy something cheap

@@JohnOgren All in all would you say its better to lease(solo) or go company(solo) is there a big difference money wise?

🐔 or the 🥚? 🤣

@@JohnOgren hahaha. my day, sir, has been made!

Lol, if you say so. Do you so consider the percentage of revenue that goes to Prime as theft too?

That was really worth asking?