*Prime Inc* Semi-Truck Leasing Cost Breakdown 👏💰

[@UfoSal722]

I like the $70 APU charge refunded back! The APU only worked for 1 week. I drive for Prime on a Refer for 1 year 6 months now, and my lease ends on February 8, 2023, with a bonus of $7-$10K paid in 10 days after detail shop inspects truck in full. Abacus tax service told me I made $308,000 for 2022 and I need to pay the IRS $23,000 but they are going to get all my expense report from me along with my Prime settlement.

[@Cedes14]

I wish you went a little more in depth on also things like who paying for the fuel,maintenance, and on avg how much the loads usually pay,

[@TRKG27]

This just helped me so much wit da knowledge I been obtaining and reflecting on for lease op

[@jairbrizolla3802]

Congratulations for the work and talent. Success!!! Brazil.....😎👏👏👏🙏🙏👍

[@mellymel2922]

Is prime still doing the lease program? I was informed that the program was on hold.

[@truckingwithrex]

The lease program is open however the lease purchase program is on hold due to shortage of trucks im told by success leasing.

[@najn2372]

@@truckingwithrex is it a lease purchase? How much do you net a week? Thanks Bro

[@truckingwithrex]

I'm just (Leasing) due to shortage of trucks Prime Inc has suspended lease purchase until further notice. I average 2k-3k per week after expenses (Net Amount).

[@ricowilliams5936]

Rex you broke it All the way down Brother 💯

[@joemahoca3977]

Thanks for the breakdown found it very helpful

[@joehilton9208]

Thanks again for the info. Can you explain or do a video on what cost a lease operator is expected to cover as far as maintenance and any other non fixed cost. Such as tires, brakes, PM's, etc. As I understand it the trucks they lease are all under manufacturer warranty so if anything major breaks it's covered?

[@truckingwithrex]

I'll work on a video for this

[@TerraFirmaX]

You pay for it all brother. The only thing good about this lease is that it’s a walk away lease.

[@johnmerlo5005]

We run DD 15 cost of pm is $700

[@TopHour]

Thanks Bro you are really good at explaining things... maybe later on you can interview truckers you seem like a good intervieer

[@seanhobbs1989]

Appreciate the time you took out to make this video im in the process of getting my cdl and going to prime im really wanting to do lease is the 993 for a new truck and is it worth it in your opinion

[@truckingwithrex]

My truck was pretty much new, only had 13k miles on it. IMO i believe it is.. With leasing your not forced dispatch, you can take days whenever needed no questions.. You can get a new truck for $990, some trucks with more miles = lower payment. You have the potential to make a lot more 💰 leasing. Hope this helps 👍💯

[@Mr.Bathelus832]

What is the truck payment on 500,000 miles truck and how many years should it be lease?

[@joemahoca3977]

Want to compare prime lease to swift lease Seeing that 1 is reefer and other is dry Box freight

[@kennethburgess9536]

I have a friend who worked/leased at swift and he said he’s making way more money here at Prime

[@joemahoca3977]

@@kennethburgess9536 that's what I thought, I just like the idea of self dispatch

[@CuriousH74]

What about insurance cost on the truck? Is that included in a truck charges? Also what’s the cargo and liability insurance cost plus trailer?

[@seanhaywood1789]

good video, just a question I see that the truck insurance costs was left out. can you please tell us what that is per week as well thank you

[@truckingwithrex]

That is included inside the high truck payment.

[@joehilton9208]

Great info. Thank you. Can you tell us what a tanker lease driver averages per week in gross revenue and also what your fuel cost averages per week. Thanks.

[@truckingwithrex]

My current YTD average per week! gross revenue per week $5151.47 gross fuel cost per week $1452.04

[@rodhtown]

@@truckingwithrex how many miles a week are you averaging

[@truckingwithrex]

@@rodhtown YTD im averaging 1857 miles per week on the Inedible tanker side.

[@TerraFirmaX]

@@truckingwithrex when you figure in all your other expenses you are making a little more than a company driver. When you factor in what it actually costs to run a truck this is not that great. Get a good year under your belt then buy a truck and lease to landstar. You are a good motivated driver that would do really well there.

[@JimmyD6977]

@@TerraFirmaXhe’s a tanker driver, not a cheap freight hauler

[@donaldamelung1786]

Is there a maximum age cut off to get a cdl with prime and even a job with the company?

[@20ISH-TRUCKDRIVER]

I do not think so

[@WrightAid]

Are you in the lease purchase program or just leasing?

[@truckingwithrex]

Just lease, waiting for them to reopen lease purchase. You can pay your truck off in 3yrs doing lease purchase and you basically give yourself a 60K a year pay raise! 1 guy i know who paid his truck off on the tanker side made 150K after all expenses last year! (His truck is paid off)

[@michaelzma9102]

What about qualcomm? Isnt that a weekly charge?

[@rodleithner7931]

? What is the average $ per mile your cut to the truck. The reason I ask is from Prime they said it was about 1700-1900 mi per week for solo tanker driver. I can't see how company drivers make much more than $900.00 a week. As a lease op I would think $2.25 a mile would be needed.

[@truckingwithrex]

Currently YTD I'm averaging $2100 bring home after all expenses. This includes truck payment, prime's fee's, fuel and truck repairs etc.. i still have to pay taxes. I'm a lease operator and average about 2300 some weeks i hit 3200 miles just depends. Lease operators get all the miles compared to company drivers just fyi.

[@rodleithner7931]

@@truckingwithrex Thanks Rex. I am impressed you seem to be making close to $1.00 a mile salary as a lease op. Looks like your kicking ASSSSSS.

[@truckingwithrex]

@@rodleithner7931 it ain't easy, i work my tail off and built a good working relationship with my fleet manager!!!

[@rodleithner7931]

@@truckingwithrex Copy that I 100% understand I drove as an O/O 10yrs flat bed 1996-2007. Any trucking job you have hustle to make the big$$.

[@bageltv3489]

How much is gas weekly? Then minus taxes??

[@bradshores9617]

Rex I would be very thankful if you could comment on just how bad parking has become nationwide? I am hearing that shutting down and safely sleeping is very very difficult, thoughts? Is it true IYO or is it overhyped and not as bad as people say? Thank you

[@truckingwithrex]

Parking in general is tight after 7-8pm some areas like Chicago you'll need to shut down by 4pm. IMO its not a problem for me being on the Tanker side i park at tank washes, shippers, receivers and rest areas frequently. 3X I've ran past my 11hr clock trying to find parking after 11pm finally did 2+ hrs later at mom and pop truck stops. I work around the problem or at least try to by checking with shippers and receivers for overnight parking and shower in the am when truck stop lots are empty

[@bradshores9617]

@@truckingwithrex thank you for that

[@danadane4375]

Great video!

[@sandytai2209]

OMG THANK YOU 🙏🏾

[@andrewthomure2444]

How much would you put aside for repairs and maintenance on the truck?

[@truckingwithrex]

@@andrewthomure2444 I set up an e-fund with prime “emergency fund” I set aside $100-$200 per week and this is not taxed since prime doesn’t report it as income “as long as it stays in your e-fund” and used for repairs/maintenance!

[@ritchierich565]

How does prime/truck get paid if you take a week off?

[@AM0908]

The payment and the fixed cost are taken whether you drive or not. In his example 1203.07

[@censoredeveryday3320]

What if I paid for the truck up front? Would this enable me to make more money? I'm transitioning out of another career into trucking

[@abumohammad2174]

Yes sorry I have a question for the Lesing for the prime how long we could sign the lease to

[@truckingwithrex]

Reefer is 3yrs and Tanker is 4yrs, you can walk away from them at anytime

[@joycharles1055]

If you dont got 50k in your bankaccount dont go lease

[@ElitePropertyCare]

What about truck insurance? How does that work?

[@truckingwithrex]

Truck insurance is included in truck payment so you don't see a separate line item on your settlements with prime. Hope this helps!

[@ElitePropertyCare]

@@truckingwithrex Thanks!!

[@ElitePropertyCare]

One other question. How does deadhead or bobtail miles work? Are they all unpaid ? Or if you are hauling clean empty trailers are you paid?

[@truckingwithrex]

@@ElitePropertyCare deadhead miles are included in your load (so yes your paid)... I'm not paid to bobtail, i only bobtail when I'm getting back on the road (about 1 hr).. Hope this helps ya!! 👍💯

[@REREZO]

trucker rex, i may ask.. is it a requirement in prime to have first secure an llc or a registered business before you can proceed with the lease arrangment with them?

[@truckingwithrex]

No you don't have to set up an LLC but i highly recommend it... I used www.Incfile.com paid $120 for expedited processing... Hope this helps 👍👏💯

[@REREZO]

@@truckingwithrex thanks sir! keep sharing your trucking life. you have a very substantive content with the tanker line lease operator. i think you are the first on it in prime..

[@johnmerlo5005]

How do you get health insurance

[@anonymoustrucker1782]

You didnt put insurance information

[@truckingwithrex]

It's included in the truck payment

[@wmgthilgen]

Any and all of which are deductable, assuming you make sufficent funds by actaually putting in the time and effort driving. Serious driver's realize that they don't have the ability to go home every night, once a week for a couple of days and or even once a month taking a week somewhere off just to get away from it. If and when on is or consider's them selves to be in bussiness, it's a 24/7/365 day job. Any thing less can be consider and often is by the IRS to be a hobby. Which then makes any and all of those various fee's, fuel, dining at resturants etc. No longer deductable. Which lead's to one simply creating a job for themselves rather than be employed by someone else.

[@vicus1361]

Ok, how much can I make in gross for one week?

[@Jamesthechef0311]

Maybe a dumb question but who pays for the insurance the truck driver or the company?

[@truckingwithrex]

It’s included in the truck payment

[@Jamesthechef0311]

@@truckingwithrex wow thank you so much for your time

[@lovepeace1552]

What lease did you go with? Did you do the walk away lease?

[@truckingwithrex]

Yes, walk away lease

[@Ghostbusters7738]

Are they still training with manual trucks? I can’t find any information Let me know. I’m going to prime on April I’m studying to get my learners permit while working. I’ll put you down as a referral.

[@truckingwithrex]

Unfortunately prime only has automatic trucks. For me that didn’t bother me. Stay safe bro 🤙💯

[@keithelsey553]

What percentage of your revenue do you set aside for taxes?

[@jettx3180]

Lease purchase still have to pay apu rental fee? Isn't that part of the truck payment if you do lease purchase?

[@truckingwithrex]

Not with lease purchase, my truck is a standard walk away lease

[@wolfpack9688]

How does fuel costs and oil Changes work?

[@truckingwithrex]

Prime gets huge discounts on fuel, your prime id badge is also your fuel card. You swipe and fuel cost are deducted weekly from your settlements. Oil changes- you go wherever you want (loves, TA etc) and prime will deduct cost from your settlements. Nothing out of pocket right away 👍🤙💯

[@Thegospelguide7]

Trailer is free

[@marcodiaz2760]

What about truck insurance?

[@truckingwithrex]

It’s included in the truck payment

[@rabaisouhail7921]

Thank you bro,for all this information Am Tunisia people My ask..i can have contract with your company? I will wait your answer Thank you so much. Have a good day

[@dannyg7921]

So should I lease or just do company ?

[@truckingwithrex]

Depends on what you want. If you are completely brand new to trucking maybe go company 6 months then try lease? 🤔 I went straight to leasing after getting my CDL hope this helps 👍

[@KillSquadMedia]

You’re paying for fuel out of pocket right?

[@truckingwithrex]

I use my prime fuel card to pay for it upfront then prime will deduct my paycheck for all fuel purchased during the week.

[@franklinbrandon5283]

Excellent video...!! Honestly, i still dont understand why drivers do lease programs...(Respectfully)! Maybe im so closed minded and ole fashioned to where i believe do things the old way works best..

[@franklinbrandon5283]

Reason im saying is because thats a ton of money you pay out a week, goodness!!

[@truckingwithrex]

I've talked to many company drivers none of them make 1k + a week. I completely understand what you mean i was closed minded at first but glad i went lease over company driver. I consistently put 2-3K in my pocket every week. I do have to pay taxes on that $ but it's still a lot more than $1,000 bucks a week. Thanks for checking out my vid!

[@franklinbrandon5283]

@@truckingwithrex wow really...!! Im a company driver and i definitely debunk that.. Send me your email addy and i can show you proof... Thanks for the reply. Ill send you my pay stub as company driver on Thursday...

[@truckingwithrex]

@@franklinbrandon5283 I believe you! I should have been more specific. I'm on the inedible tanker side. Company drivers on the tanker side average 1700-2200 miles per week at least the 10 or so i know.

[@franklinbrandon5283]

@@truckingwithrex facts...

[@abumohammad2174]

For to sign with Brian Lesing alone three months six months for one year that’s my question

[@truckingwithrex]

all leases you sign are 4yrs but they are walk away so you can turn in your truck with no penalty

[@GulagG4ry]

what do your worst weeks in trucking look like? were you ever running so few loads to where you wernt sure if you were going to make it through the month? im currently single, no kids, currently a dock hand for a mega carrier. thinking of getting my CDL and hitting prime lease cause you make it seem like it can be worth it if you put in the work.

[@truckingwithrex]

My worst week I went negative $1050 because I ran 1 day and returned my old truck in and got a brand new one, so prime charged me some repair fees and maintenance fees on returning the old truck. My best week was a little over $5700 in my pocket for 1 week. Usually a bad week for me is anything under $1800 if I’m running my truck all week. I hope this helps ya!

[@bigloudog7377]

Is that include maintenance or tire repair or does that come out of your pocket as well

[@truckingwithrex]

That's separate, Prime takes out 2.5 cents per dispatch mile out of my check and goes into a tire fund (and is used if i need to replace a tire).

[@TerraFirmaX]

Holy crap dude, that’s outrageous. Thanks for sharing but holy crap.

[@Tyronewiggums1]

Jesus Christ, such a rip off. If you’re leasing with prime just know you’re getting ripped off

[@artaya6712]

What company do you suggest? What does a good deal sound like?

[@Tyronewiggums1]

@@artaya6712 any company that’s not a mega. Find small to medium sized. Way better pay and benefits. Don’t be fooled by these megas. They’re just another crappy corporation.

[@Davinciblack_]

Just say you’re not good at managing your money

[@cmcpics291]

I wouldn’t trust the “CPA’s” at prime …. They will always look out for the company over you. Just think about it why not get a tax professional that isn’t biased with what is or isn’t a tax deduction or just simply does your taxes to the complete max

[@godson985]

.

[@keithelsey553]

What percentage of your revenue do you set aside for taxes?

[@truckingwithrex]

I set 30% aside