13,000 every 60k might seem a lot at first. But he is getting a new truck every 6 months and that is important if you're running hard. Less breakdowns, plus no out of pocket repair expenses = more time hauling loads.
Higher cost, more loads you gotta run to pay for it. You're paying for those repairs whether they happen or not with every mile you turn. It's not exactly a win.
@@ericweredyk4142 Thing is you can bank a helluva repair/downtime budget with the difference, and ownership gives you equity in it. Most big issues don't happen until later on a brand new truck. Until then it's warrantied.
@@dchawk81 I have an Enterprise truck For my business. I have a client that bought the same type of truck that I have. His truck has been in and out of the repair shop Since he bought it a year and a half ago. While it's in the shop, he is not offered a loner Vehicle of any type. Therefore he has to keep a spare dually truck. Just so he has a vehicle to haul with when his new truck breaks down. Me on the other hand. I had one minor issue with the fuel gauge reading incorrectly. They brought me a brand new truck.
@@timbodnar6711 I've addressed that already. Think about this for a second: Enterprise profits off of you. *Buy* the truck and that money goes to you instead of them. The ONLY upside to this lease agreement is that you don't pay anything when the wheels don't turn (according to TP). So a scaled down payment when the freight is slow. If you hump it with this thing you're losing because you're paying way more than you need to. You can afford that second truck or even a third. Get people driving for you.
Tanks do not scratch the bed when installed properly with rubber underlayment. A tank means fewer fuel stops and longer runs tanks pay for themselves in time spent on the road vs time spent in line waiting to fuel up. No tank = 300-600 miles. Tank = 900-1600 miles. Not to mention with a tank you can almost always hit the cheaper fuel.
I appreciate you being straight forward and to the point brother. Most people never give pricing or instructions for anything. Great video my friend! Keep them com’n!
Besides a new truck often and no repairs, the biggest thing about a lease is on taxes. You can deduct the full lease payment from your taxes, if you are buying the truck you can only depreciate the truck and claim that (I think, it's been 14 years since I leased a truck)
What people are not understanding about his numbers is the added scheduled maintenance if he had bought the truck. Given the miles he runs the scheduled service interval (15,000 miles)are due monthly. The 30,000 miles every other month. Tires probably every 6 months. If you add the cost of that to a straight purchase, he is far better off with the lease that he is in. If the truck goes down they simply give him another truck. I’ve seen people get a brand new spec ordered dually and have the tranny blow up in 6 months and be out of business yet still owe the note on a truck that they can’t get fixed because of commercial use
Yeah this is the real issue to me with hot shoting, is our truck even the 550's are not really "commercial vehicles". They are really not made to be run day in and out for tens of thousands of miles. This is kinda the reason I'm really skeptical of buying a new truck for this stuff. It's the reason I bought a used truck and something I can fix reasonably cheaply.. Anything with a DPF system is a big no no for me...
David You’re right about that! My $4,000 single axle day cab Sterling will out haul and outlast any $70,000 dually. I think a f-750 cab and chassis is a far better option than a 350 in price or durability
Brother! I am 100% green at all of this but very interested.. would you mind doing a months end breakdown of all your associated costs? Totals on fuel, maintenance, taxes, factoring, insurance, the whole shabang! Your knowledge is very much appreciated
Called the enterprise he uses today, said that’s they are “indefinitely” out of vehicles, and that it would be well into 2020 before they had anymore available.
The enterprise here in Memphis on Brooks road does this same program I’m stuck trying to decide if I want to grab a hotshot rental Or lease a 26ft boxer from Penske and run amazon
Alex, do your thing homeboy! In your previous video I clearly remember you stating this is what works best for you....then I read all these comments from the good idea ferry’s and they all want to poke holes in your process. To them I say go kick rocks! I’m glad to see you on the come up and I’ll meet you on the objective!!!
My husband was watching a pile of your videos today. He said he was watching one more…when I came into he room, it was over…and closing with the roads in our area! Hope you weren’t hauling across anything after 9:45 …that’s a tight squeeze! 😂👏💪👋
Rather if this is for you or not this guy holds nothing back gives you straight up info unlike some of these truckers out that are greedy af and only say how much they net and not how they got it this isn’t my line of field but I salute you stay safe
I am really glad I found your channel. You do a great job of filling your videos with great information and I really appreciate that. I don't know how you find the time to get this done but you are serving your country sir. Lol
about the scratches in the bed just go to a feed store and buy a stall mat its about 3/4 inch thick covers 75% of the bed and only costs about $50 bucks or less
Let me say this Fay is a LIFESAVER!!!!!!! Bar none she will work with you. I got my truck F350 but my trailer wasn’t ready for another week. She used part of my down payment to cover my 5000 miles per math. No over head and a new truck every 5-6 months!!!
If you at all find time. I'd love to hear about your experience and gain some knowledge. I'm looking to get I to hotshotting and it would greatly help to hear the best practices of going about it. I am a CDL A holder and have been since 2017. Wanting to do something different and this honestly just feels like a better option for me as opposed to being back in a rig right now.
Just like the Proverbial Lease to Own. The Company makes the money you do the work. I've owned 8 of my own Class 8s with my Authority for more than 40 years, I didn't have to rely on a Tricky Broker. This young man will have to Pay the Monthly Dip if he runs and makes money or Not! I too wish him luck!
A lot of people argue good or bad about leasing or new vs old but in the end it comes down to what you make.. I ran a lease truck at Prime as example and I made in my pocket nearly $70k my 1st year as a driver. There is no where I'd make $70k my 1st year as a company driver with no experience. On the flip side I know guy who probably didn't pocket $40k for a year doing the same thing. According to to Piglet, he says on the road all the time, so if he does that he can make money even paying .20/mile.. For the record I was paying Prime $1,5k/week and I still made money.. The biggest problem I see is the .20/mile min 5k miles.. 1,250 miles a week is nothing.. At least it was nothing for me doing OTR.. I had multiple weeks over 3,5k miles and did over 4k miles twice in the time I was driving a big rig.. With that in mind you can easily end up paying $2-3k/month in a lease like this but it's good that there isn't a time limit but rather a mileage cap.. So no matter what it's roughly $13k.. Now on the flip side.. I recently bought a 05 F350 with blown head gaskets. I paid $5k for the truck, I just spent roughly $3,8k in parts for new heads, studs and all the obvious things that should be done to the motor while fixing the HG's. I'll have a bit under $10k in the truck and I bet you it last me a year easily and I can still sell the truck at the end..
I’ve leased from enterprise for 4 years in jersey. I get a new truck every couple of months and they take care of all maintenance. I’m in the concrete business and it is rough on everything from trailers to trucks. It is a complete write off too. Makes a lot of sense.
I'm starting into this with a few runs under my belt. However, I need to ride with someone experienced to show me the ropes. If anyone needs a co-pilot let me know. I have an impeccable driving record.
After this breakdown. I would say this is the best route for a beginner. It eliminates you dinging your credit for a career path you may not want to take and getting your 3k is a big bonus! Even as a seasoned owner, I think this is a good idea just not have to worry about breaking down as the truck ages because you are always in a new one.
Excellent view into your operating system. Many will benefit from your insight and help them decide what this scenario involves. I'm just a curious guy and not a transporter, thank you for sharing. Also, your work ethic and desire to share, openness, is admirable.
I think an extra tank is a great option if you can. You save some 20 minutes here and there and save a few bucks buying cheap diesel when possible. But still once you are used to a routine it is better to have it like that.
Everyone is focusing on how much he is spending. All that really matters is how much is he making, what he has to go through to make it, and if it fits the path he wants for life. Sounds like he is making a calculated decision to me. Seems like his profit is around $.75 per mile. Better than signing on for .33...... Keep on truckin' Piglet!!
I was thinking about this the other day, there could be another advantage, they must sell the 60k trucks, I wonder what they sell for? It could be a good first truck
@@juliovaldez6310 stop beating on your cars! I hear this all too often, stop and go is hard, long highway aren't nearly as bad, but it's much easier to sell a 60k truck than a 120k trucker a 200k truck. If you aren't part of the enterprise management team you are just guessing their motives.
@@juliovaldez6310 there are a lot of reasons folks lease, it gives you an easy tax write off and in this situation when you hit that magic number it is done. I've seen plenty of excuses made up over the years, even his old truck with all the miles would have still been a great vehicle other than the body damage.
@@juliovaldez6310 and your fear is the precise reason it is such a great idea, it drives down the price and drives up the value. I picked up an 18 month old sprinter last summer for 50% of new price due to the 183,000 mile odometer, do you know how many repairs that $27,000 savings would buy me? It's all in the numbers, unfortunately most folks are horrid at numbers and will overspend on emotion. Paying full price for a 6 month old truck with 60k on the clock won't be a great choice, paying 50-75% of new value very well may, you could expect a 750,000 mile service life out of this truck with this transmission.
Actually trucks you purchase are also a tax write off. But what makes a little better deal is ya can write the whole thing off in the year you purchased it. A $70,000 write off is great especially if you had a great year. But you should never buy a truck for the tax benefit. Cash is what your looking for.
KFStreich Not sure y’a were writing to me..But there are countless different trades buy their equipment at the end of the year because they have had their taxes done and know how much they would save by being able to drive their tax money and not give it away.
Buy a rubber bed mat for $150... cut slots in it for those rails, and then move it from truck to truck. Will do a GREAT job in protecting the bed from everything. I've had a bed mat in my last two Dodges (same mat) and it's fantastic. I put it in there because despite a spray-in liner, when I used to snowmobile, the carbides on the snowmobile skis are so sharp they were slicing through the spray-in bedliner. They didn't even put a mark in the rubber mat. As for the lease itself, I may end up going this route if I'm unable to buy a new truck here in a few months as I've been hoping. Appreciate the info!
Get a horse stall mat from a ranch store. 3/4 inch solid rubber made for 2k pound horses to stomp around on with metal shoes. Also, they're about a 3rd of the price lol.
New subscriber here - I watch a couple other hotshotter channels, and the big advantage you seem to have is your natural enthusiasm. If you keep a positive disposition during hard times, you will prosper in the long run. I am looking forward to see how you do. Good luck.
If yall take the time to fix your credit; you can get a new or decent used truck around $700-$800 per month. Guess what you get a warranty with that. Also in order to get commercial insurance that's about $3500 for down payment. That's not including all the documents you need to legally haul commercial freight.
Great video, answered ??, hope it's cost effective for you. I think you like new trucks, and convenience to shoot over to Indiana and pick up a new truck. Something to be said for not paying for repairs and truck getting raggedy. Plus you always have new technology. Nice truck!!!!
According to my calculations... if you bought a 70000 dollars truck loaded with all the goodies, if you paid yourself 22 cents a mile, you would have that truck paid off at about 330,000 miles. Why not just keep saving the 22 cents a mile and run another 300k miles after that for free and just buy another new truck for that.? If you bought a truck with a lower trim level, it might only cost 45k or so. It seems like you should just have the discipline to put the 22 cents a mile in an account only for the truck and you could come out better. What am I missing here?
My Dad always paid his truck 25 cents a mile he buys a new one every 200,000 miles. I think once I get up and running again I'm going to follow his model.
I'm a cdl-a conpany driver now. The whole thing that's holding me back from just buying my own truck is the loan. So at $1100 + + at month, starting new lanes, that concerns me.
Awesome the way you're giving more info on this Indiana enterprise lease thing works. Most people on here just guess about it. It's good to see someone whos actually going through it! Now do they only do duallies, or do they also do single wheel trucks if they have them? I can't remember if you said so in your previous video. Keep up the good work!
When I drove for CR England. They and all their competitors leased tractors for 450k miles/ 3 years. The trailers were leased for 7 years. If this lease keeps you earning. With a little wiggle room for the down times. It is good business! 60k miles seems like an odd number. But when market conditions change. It seems a bad situation would be short lived.
Hey Alex, can you give us another update on your leased truck. Have you been paying more on the lease than you expected? I know you had mentioned that you’re running hard. Just wanted to know on the monthly cost on the truck with comprehensive insurance.
Great video Tow Piglet, what commercial insurance do you use and ball park monthly costs for insurance for truck and commercial for trailer and load?? Thank you for video, very informative. One more question, do you lease the truck under your company name or through your personal name?
I’ve been doing this for years here in Texas. Most of what he says is true. Indiana isn’t the only place that does it. Texas and Florida does it as well. 2019 I stop doing this. I bought me a truck this year. There was a lot of perks having a lease but after doing it for a few years I’ve Discovered I like owning my truck. It comes out cheaper to me. And the guy said he was paying 20 cents a mile. That’s a little higher. I was paying ten cents a mile , they gave me only 4K free miles when they gave this guy 5k free miles. So that extra 1k miles may help I don’t know. But still 600 a week for the rental, that comes to 2200 a month on top of your commercial 1300 that’s 3500 a month. And that’s cheap on the commercial insurance. I have friends who pays over 2k a month for insurance. Where as having my own truck I only pay 2k evenly. It’s to each it’s own if u want to do the lease but be ready to spend more money.
I do have been doing this with my Dodge dually 3500. It’s mine/ paid off. Using his numbers, that 26,000 a year and if you rent it for 3 years that Gomes to 79,000 . At the end of the lease you are out $79 grand and the real problem is you have to give it back. Any way you at it , you got nothing . It’s a comfortable feeling not to have to shell $26,000 a month.
Boris Leonardo Omana Suarez When I get home I can get u the guy name and the location.. actually they give you a better deal in Florida.. I have some friends That drive from Dallas to Florida just to get there trucks..I think they crazy , but it’s there choice. I’ll look for u this evening, or call them for the number if I can’t find it.
I just called Fey she laughed. Said call back in April maybe . She said no waiting list anymore . She basically said sorry not my problem and hung up....
At 10k miles per month you are at $2200 per month or $26,000 per year excluding maintenance and the up front $3700. That tradesman truck is prob $55k total. you would have a new one paid off in 2 years at the same payment schedule you are paying for this lease. Sounds like financing a new one is cheaper per year than this lease...
@@TowPiglet Assuming 120,000 miles a year you would be at 240k miles in 2 years. If you bought a tradesman for $55k it would be worth conservatively 25k at the 2 years. Thats $30k loss in 2 years or $15k a year. right now you are at a minimum $26k a year or $52k over 2 years. you are paying nearly double per year as opposed to purchasing. You dont need to wait 2 years to figure the loss.
@@Regal2800 Dont think maths is his strong subject hence he is still into his other truck for 18k, Agree with you REGAL he is paying out to much, but his credit history might be so bad he cannot get credit on low interest rates.
Regal2800 I see where your coming from but add in All the maintenance and even one major break down after your warranty is over and leasing might be better...
Regal2800 $25k is very optimistic, most likely $15k add brakes tires oil changes other repairs ones warranty is up or cost of extend warranty and you will be very close to $52k in 2 years. Lease advantages here is low down payment (refundable) and short term. Easy to walk away if you don’t like it. It’s a 6 month lease and u only pay $200 penalty per month if you end before your six month.also let’s not forget financial charges on 55k loan comes about another 5k making that $55k truck $65k truck after all fees and %
Good info, 5k Miles per month doesn't sound like many miles. Ive been driving 31 years but no Hot shot driving, definitely looking into it. thanks for the info.
How about credit rating to get approved for the lease???? I could see myself doing this!!! Years ago I ran medical supplies to hospitals the money was good but this sounds better
Ya but realize even if he only got 1 dollar a mile, that’s $11,000 bucks lol minus monthly payment for trailer which would be 2-400 and then fuel, probably $3000 a month that’s still a lot of money lol
@@andreiparham3876 Then you have your insurance another 1200 a month at least,then you need to put at least 10% of your gross for repairs.Then you have all you DOT Bill's like interstate motor carrier,medical,book keeping,central dispatch alone is120 a month.Then you have your registration every year.SHALL I GO ON?
@@jamesorr2404 - Exactly! I use to change my 05 Dodge fuel filter at every oil change, Wix filter $17. The new Ram fuel filter looks identical to the 05 Cummins filter, Advance Auto $98. Fuel/water separator $63. dealership priced about $375 to change fuel filter and fuel/water separator. It is robbery. Buy a $80k truck, then get robbed at every service.
It's not worth it guys. I use to lease a truck carrying a two car trailer, I paid 400 bucks a week flat rate. Yes there was weeks I had a good paycheck and other weeks I barely broke even. Because you got to realize this is not including the cost of the trailer, which if you financed is another payment, God forbid if you're renting that as well, then the cost of fuel.
Question why Ram ?? Not Ford. I’m cdl holder I drive for a big carrier company Ive only been driving for 3 yrs but truth be told you have open my eyes. I have a million question but they gradually been answered by you videos. Do u recommend team driver or solo
Congrats Alex! Happy for you bro Question do you think this is worth it if I get a truck from Enterprise and work under some company Authority? because some of those company they didn't recommend leasing truck they asking to have your own Truck
Hello, I’m in Southern California and researching the business. I’m trying to find out how the loads are coming out of Southern California. I am aware that DOT is a pain in Southern California, but I can’t research loads. I was wondering if you, or anyone, had any any insight on loads coming out of Southern California? Any insight is greatly appreciated.
Hi Alex, could you explain how to go about getting loads. I have a truck and am thinking about getting into hot shot trucking, thanks! Ps, next time youre heading east on 40, theres a little town just passed Kingman, Az, called Seligman, take the 2nd exit. Theres a bbq restaurant there and its fantastic.
Hey bro, I have a 2004 f350. I'm located in California would I be able to get my authority with my truck ? Or how would i be able to find out what California requires? Do you think I can make make good money locally in Los Angeles? I would just need a trailer
13,000 every 60k might seem a lot at first. But he is getting a new truck every 6 months and that is important if you're running hard. Less breakdowns, plus no out of pocket repair expenses = more time hauling loads.
Higher cost, more loads you gotta run to pay for it. You're paying for those repairs whether they happen or not with every mile you turn.
It's not exactly a win.
@@dchawk81 Definitely a hard choice to make. I guess he rather have less aggravations with less breakdowns.
@@ericweredyk4142 Thing is you can bank a helluva repair/downtime budget with the difference, and ownership gives you equity in it. Most big issues don't happen until later on a brand new truck. Until then it's warrantied.
@@dchawk81 I have an Enterprise truck For my business. I have a client that bought the same type of truck that I have. His truck has been in and out of the repair shop Since he bought it a year and a half ago. While it's in the shop, he is not offered a loner Vehicle of any type. Therefore he has to keep a spare dually truck. Just so he has a vehicle to haul with when his new truck breaks down. Me on the other hand. I had one minor issue with the fuel gauge reading incorrectly. They brought me a brand new truck.
@@timbodnar6711 I've addressed that already.
Think about this for a second: Enterprise profits off of you. *Buy* the truck and that money goes to you instead of them.
The ONLY upside to this lease agreement is that you don't pay anything when the wheels don't turn (according to TP). So a scaled down payment when the freight is slow.
If you hump it with this thing you're losing because you're paying way more than you need to. You can afford that second truck or even a third. Get people driving for you.
Tanks do not scratch the bed when installed properly with rubber underlayment. A tank means fewer fuel stops and longer runs tanks pay for themselves in time spent on the road vs time spent in line waiting to fuel up. No tank = 300-600 miles. Tank = 900-1600 miles. Not to mention with a tank you can almost always hit the cheaper fuel.
I'd need to stop every 3-4 hours to pee and stretch and wake up so I wouldn't be wasting time fueling up. I wouldn't need a tank.
More weight too if you’re non CDL…
I appreciate you being straight forward and to the point brother. Most people never give pricing or instructions for anything. Great video my friend! Keep them com’n!
Keep doing what you’re doing bro. There’s a reason why a lot of trucking companies lease their trucks. Thanks for all the info
Besides a new truck often and no repairs, the biggest thing about a lease is on taxes. You can deduct the full lease payment from your taxes, if you are buying the truck you can only depreciate the truck and claim that (I think, it's been 14 years since I leased a truck)
What people are not understanding about his numbers is the added scheduled maintenance if he had bought the truck. Given the miles he runs the scheduled service interval (15,000 miles)are due monthly. The 30,000 miles every other month. Tires probably every 6 months. If you add the cost of that to a straight purchase, he is far better off with the lease that he is in. If the truck goes down they simply give him another truck. I’ve seen people get a brand new spec ordered dually and have the tranny blow up in 6 months and be out of business yet still owe the note on a truck that they can’t get fixed because of commercial use
Yeah this is the real issue to me with hot shoting, is our truck even the 550's are not really "commercial vehicles". They are really not made to be run day in and out for tens of thousands of miles. This is kinda the reason I'm really skeptical of buying a new truck for this stuff. It's the reason I bought a used truck and something I can fix reasonably cheaply..
Anything with a DPF system is a big no no for me...
David
You’re right about that! My $4,000 single axle day cab Sterling will out haul and outlast any $70,000 dually. I think a f-750 cab and chassis is a far better option than a 350 in price or durability
Yup. And not to mention, the depreciation on a vehicle that costs 60 or 70k that has 120k+ miles in a year would be obnoxious to say the least
Brother! I am 100% green at all of this but very interested.. would you mind doing a months end breakdown of all your associated costs? Totals on fuel, maintenance, taxes, factoring, insurance, the whole shabang! Your knowledge is very much appreciated
Thank brother for sharing your knowledge. Received a settlement for my company because of wreak and I plan on using this opportunity wisely.
Huh I never knew this and I work for Enterprise. This is pretty cool that Enterprise does this.
Called the enterprise he uses today, said that’s they are “indefinitely” out of vehicles, and that it would be well into 2020 before they had anymore available.
Enterprise does commercial leases all day. With what evert trucks we want. I don't get this exclusivity deal..
The enterprise here in Memphis on Brooks road does this same program I’m stuck trying to decide if I want to grab a hotshot rental
Or lease a 26ft boxer from Penske and run amazon
@@og6340 how much is Amazon paying?
@@faustinogarcia5202 they was paying his last year not sure about now
Alex, do your thing homeboy! In your previous video I clearly remember you stating this is what works best for you....then I read all these comments from the good idea ferry’s and they all want to poke holes in your process. To them I say go kick rocks! I’m glad to see you on the come up and I’ll meet you on the objective!!!
My husband was watching a pile of your videos today. He said he was watching one more…when I came into he room, it was over…and closing with the roads in our area! Hope you weren’t hauling across anything after 9:45 …that’s a tight squeeze! 😂👏💪👋
Rather if this is for you or not this guy holds nothing back gives you straight up info unlike some of these truckers out that are greedy af and only say how much they net and not how they got it this isn’t my line of field but I salute you stay safe
I am really glad I found your channel. You do a great job of filling your videos with great information and I really appreciate that. I don't know how you find the time to get this done but you are serving your country sir. Lol
This helped way more then you think, Thanks brother
about the scratches in the bed just go to a feed store and buy a stall mat its about 3/4 inch thick covers 75% of the bed and only costs about $50 bucks or less
I’d rather do that my first year and have the chance to walk away if need be.
Exactly right
And you’ll lose your ass! You won’t make enough money hauling RV’s to pay a lease on a truck and make a living. Buy your truck you’ll be better off!
right
@@871jamie Jamie, his answer isn't edited and does not at any point refer to RVs
KFStreich nor do I care what you have to say. I voiced my own opinion which seems to have “triggered” you. You must be a liberal.
Let me say this Fay is a LIFESAVER!!!!!!! Bar none she will work with you. I got my truck F350 but my trailer wasn’t ready for another week. She used part of my down payment to cover my 5000 miles per math. No over head and a new truck every 5-6 months!!!
If you at all find time. I'd love to hear about your experience and gain some knowledge. I'm looking to get I to hotshotting and it would greatly help to hear the best practices of going about it.
I am a CDL A holder and have been since 2017. Wanting to do something different and this honestly just feels like a better option for me as opposed to being back in a rig right now.
Wow, wow, wow, do some research, plenty of drivers have tried this, there is no pot of gold at the end of the rainbow.. God bless you, young fella.
Just like the Proverbial Lease to Own. The Company makes the money you do the work. I've owned 8 of my own Class 8s with my Authority for more than 40 years, I didn't have to rely on a Tricky Broker. This young man will have to Pay the Monthly Dip if he runs and makes money or Not! I too wish him luck!
That Class 8 is designed to be a commercial vehicles, and to haul for years on end. Pickups are not.
Hey Alex, I’m enjoying your videos. I’d love to see how you set up your sleeper without modifying your back seat.
That was a great breakdown! Your series of videos are straight from the horse's mouth! Thanks for putting forth the effort.
A lot of people argue good or bad about leasing or new vs old but in the end it comes down to what you make.. I ran a lease truck at Prime as example and I made in my pocket nearly $70k my 1st year as a driver. There is no where I'd make $70k my 1st year as a company driver with no experience. On the flip side I know guy who probably didn't pocket $40k for a year doing the same thing.
According to to Piglet, he says on the road all the time, so if he does that he can make money even paying .20/mile.. For the record I was paying Prime $1,5k/week and I still made money.. The biggest problem I see is the .20/mile min 5k miles.. 1,250 miles a week is nothing.. At least it was nothing for me doing OTR.. I had multiple weeks over 3,5k miles and did over 4k miles twice in the time I was driving a big rig..
With that in mind you can easily end up paying $2-3k/month in a lease like this but it's good that there isn't a time limit but rather a mileage cap.. So no matter what it's roughly $13k..
Now on the flip side.. I recently bought a 05 F350 with blown head gaskets. I paid $5k for the truck, I just spent roughly $3,8k in parts for new heads, studs and all the obvious things that should be done to the motor while fixing the HG's. I'll have a bit under $10k in the truck and I bet you it last me a year easily and I can still sell the truck at the end..
S a lute u no what s going on.
Ewww
I’ve leased from enterprise for 4 years in jersey. I get a new truck every couple of months and they take care of all maintenance. I’m in the concrete business and it is rough on everything from trailers to trucks. It is a complete write off too. Makes a lot of sense.
You do the maintenance yourself? Let enterprise do it lol that’s more expenses to add up
@@SeattleHeights they do it
I'm starting into this with a few runs under my belt. However, I need to ride with someone experienced to show me the ropes. If anyone needs a co-pilot let me know. I have an impeccable driving record.
After this breakdown. I would say this is the best route for a beginner. It eliminates you dinging your credit for a career path you may not want to take and getting your 3k is a big bonus! Even as a seasoned owner, I think this is a good idea just not have to worry about breaking down as the truck ages because you are always in a new one.
Looking at getting into hotshot...i have 2500 with 9 ft stake bed...would something like this be good for me???
3:50 be careful driving next to Swift homie!! :p
I called them and they told me they don't make a list anymore because hundreds of people are waiting i have to called them every month
Awesome Video!🎥
Excellent view into your operating system. Many will benefit from your insight and help them decide what this scenario involves. I'm just a curious guy and not a transporter, thank you for sharing. Also, your work ethic and desire to share, openness, is admirable.
I think an extra tank is a great option if you can. You save some 20 minutes here and there and save a few bucks buying cheap diesel when possible. But still once you are used to a routine it is better to have it like that.
Everyone is focusing on how much he is spending. All that really matters is how much is he making, what he has to go through to make it, and if it fits the path he wants for life. Sounds like he is making a calculated decision to me. Seems like his profit is around $.75 per mile. Better than signing on for .33...... Keep on truckin' Piglet!!
Jason Bennefield Exactly!
Looking for a non Class A driving jobs gooseneck trailer prefer
Thanks for giving the actual numbers. Super interesting
I was thinking about this the other day, there could be another advantage, they must sell the 60k trucks, I wonder what they sell for? It could be a good first truck
@@juliovaldez6310 stop beating on your cars! I hear this all too often, stop and go is hard, long highway aren't nearly as bad, but it's much easier to sell a 60k truck than a 120k trucker a 200k truck. If you aren't part of the enterprise management team you are just guessing their motives.
@@juliovaldez6310 there are a lot of reasons folks lease, it gives you an easy tax write off and in this situation when you hit that magic number it is done. I've seen plenty of excuses made up over the years, even his old truck with all the miles would have still been a great vehicle other than the body damage.
@@juliovaldez6310 and your fear is the precise reason it is such a great idea, it drives down the price and drives up the value. I picked up an 18 month old sprinter last summer for 50% of new price due to the 183,000 mile odometer, do you know how many repairs that $27,000 savings would buy me? It's all in the numbers, unfortunately most folks are horrid at numbers and will overspend on emotion. Paying full price for a 6 month old truck with 60k on the clock won't be a great choice, paying 50-75% of new value very well may, you could expect a 750,000 mile service life out of this truck with this transmission.
@@juliovaldez6310 hey, don't wait up for me, I've been doing this for 25 years and it hasn't let me down yet.
@@juliovaldez6310 my 2015 3500 Ram has 260 miles towing 25k on average and I've yet to have any mechanical issues.
Brother l love ypu you answer theis question i was thinking aout it all day thanks alot to you
Thanks Alex for helps people who wants to have more knowledge about this job and make the right decision
This video is more helpful than a lot of videos 🍻
Thanks for the info, just what I was hoping for.
Put the tool box and transfer tank on top of a rubber mat. That will help with protecting the bed.
Great channel! I just found it and I’m hooked. Thank you very much for all the great information.
Rentals are 100% write off on taxes. Good job! Congrats. New truck always baby yeah!!!
Actually trucks you purchase are also a tax write off. But what makes a little better deal is ya can write the whole thing off in the year you purchased it. A $70,000 write off is great especially if you had a great year. But you should never buy a truck for the tax benefit. Cash is what your looking for.
wolf folks who buy a truck at the end of the year for tax reasons probably forgot to set money aside earlier
KFStreich Not sure y’a were writing to me..But there are countless different trades buy their equipment at the end of the year because they have had their taxes done and know how much they would save by being able to drive their tax money and not give it away.
I enjoyed your video. Keep doing your thing.
Thank you for explaining
I wish this was available for rig welders
Buy a rubber bed mat for $150... cut slots in it for those rails, and then move it from truck to truck. Will do a GREAT job in protecting the bed from everything. I've had a bed mat in my last two Dodges (same mat) and it's fantastic. I put it in there because despite a spray-in liner, when I used to snowmobile, the carbides on the snowmobile skis are so sharp they were slicing through the spray-in bedliner. They didn't even put a mark in the rubber mat.
As for the lease itself, I may end up going this route if I'm unable to buy a new truck here in a few months as I've been hoping. Appreciate the info!
Get a horse stall mat from a ranch store. 3/4 inch solid rubber made for 2k pound horses to stomp around on with metal shoes. Also, they're about a 3rd of the price lol.
So you never going to be a owner forever leasing ???
That sucks they don’t do that here in Texas enterprise
Thank you for sharing your experience and knowledge best hotshot chanal ever keep it up man
Very good and clear information..thank you for sharing it with us..be safe out there.
New subscriber here - I watch a couple other hotshotter channels, and the big advantage you seem to have is your natural enthusiasm. If you keep a positive disposition during hard times, you will prosper in the long run. I am looking forward to see how you do. Good luck.
Wait a second...Did I just see a Swift driver pass you?!
If yall take the time to fix your credit; you can get a new or decent used truck around $700-$800 per month. Guess what you get a warranty with that. Also in order to get commercial insurance that's about $3500 for down payment. That's not including all the documents you need to legally haul commercial freight.
Great video, answered ??, hope it's cost effective for you. I think you like new trucks, and convenience to shoot over to Indiana and pick up a new truck. Something to be said for not paying for repairs and truck getting raggedy. Plus you always have new technology. Nice truck!!!!
On fuel tank go tractor supplies get a rub mat put under the tank it help and how much do you get a mile to pull
Do you have to pick up and drop off truck in Indiana?
Awesome rate on your lease!!! Thank you for the tip.
Liking the information. Your to the point and I like it!! Just subscribed brotha!!
According to my calculations... if you bought a 70000 dollars truck loaded with all the goodies, if you paid yourself 22 cents a mile, you would have that truck paid off at about 330,000 miles. Why not just keep saving the 22 cents a mile and run another 300k miles after that for free and just buy another new truck for that.? If you bought a truck with a lower trim level, it might only cost 45k or so. It seems like you should just have the discipline to put the 22 cents a mile in an account only for the truck and you could come out better. What am I missing here?
bluebird5100 because of the maintenance and low down payment
The other main reason is I don't want to do this for another 3 years
@@TowPiglet i got you man. I was just wondering. I really like your videos and how you always smile. Thanks for all you do.
@@TowPiglet what would you do after hotshotting?
I'm not sure yet
My Dad always paid his truck 25 cents a mile he buys a new one every 200,000 miles. I think once I get up and running again I'm going to follow his model.
That is actually a brilliant idea.
From
Where ?
Excellent video! Answered most of my questions.
Alex have you ever checked out Texas Pride TLR, They will build any Tlr you want and put any gross weight sticker , you want on it
I'm a cdl-a conpany driver now. The whole thing that's holding me back from just buying my own truck is the loan. So at $1100 + + at month, starting new lanes, that concerns me.
Try hot shot 107
I did the math by several comparisons and scenarios to satisfy my curiosity. Your definitely coming out ahead with the lease.
Can you email me those numbers? towpiglet@gmail.com
Matthew Crockett don’t just say it. Prove it by showing the numbers. Tnx
Just saw y’alls replies. I’ll run them again and email TP
Junk Man I just emailed TowPiglet a one page case study based on high mileage and a 6 month term. Email him and he can forward it to you. 👍
That insurance is that truck and trailer.
Are you allowed to make hole in their bed installing a hitch for a gooseneck. Thanx
They have box truck for leasing? great vid & info 👍 thanks 🙏
Great info buddy, I appreciate it. Thank you!
Awesome the way you're giving more info on this Indiana enterprise lease thing works. Most people on here just guess about it. It's good to see someone whos actually going through it! Now do they only do duallies, or do they also do single wheel trucks if they have them? I can't remember if you said so in your previous video. Keep up the good work!
They do Ram or Ford
3/4
1 ton
1 ton dually
How does it work with your authority?
When I drove for CR England. They and all their competitors leased tractors for 450k miles/ 3 years. The trailers were leased for 7 years.
If this lease keeps you earning. With a little wiggle room for the down times. It is good business! 60k miles seems like an odd number. But when market conditions change. It seems a bad situation would be short lived.
There's an insane price drop at 100,000 miles on 4 wheelers. Enterprise is trying to avoid it.
Hey Alex, can you give us another update on your leased truck. Have you been paying more on the lease than you expected? I know you had mentioned that you’re running hard. Just wanted to know on the monthly cost on the truck with comprehensive insurance.
Air filters? Tire rotations? Brakes?
All covered
@@TowPiglet you said something about tires at lease return; if tread is thin who pays for that?
Thanks for all the great information
A rock takes out the windshield? Deer Collision?
I'll ask them tham about that
@@TowPigletYou're awesome thanks!
Covered under your insurance. All Enterprise pays for is routine maintenance.
Great video Tow Piglet, what commercial insurance do you use and ball park monthly costs for insurance for truck and commercial for trailer and load?? Thank you for video, very informative. One more question, do you lease the truck under your company name or through your personal name?
I’ve been doing this for years here in Texas. Most of what he says is true. Indiana isn’t the only place that does it. Texas and Florida does it as well. 2019 I stop doing this.
I bought me a truck this year.
There was a lot of perks having a lease but after doing it for a few years I’ve Discovered I like owning my truck. It comes out cheaper to me. And the guy said he was paying 20 cents a mile. That’s a little higher. I was paying ten cents a mile , they gave me only 4K free miles when they gave this guy 5k free miles. So that extra 1k miles may help I don’t know. But still 600 a week for the rental, that comes to 2200 a month on top of your commercial 1300 that’s 3500 a month. And that’s cheap on the commercial insurance. I have friends who pays over 2k a month for insurance. Where as having my own truck I only pay 2k evenly. It’s to each it’s own if u want to do the lease but be ready to spend more money.
I do have been doing this with my Dodge dually 3500. It’s mine/ paid off. Using his numbers, that 26,000 a year and if you rent it for 3 years that Gomes to 79,000 . At the end of the lease you are out $79 grand and the real problem is you have to give it back. Any way you at it , you got nothing . It’s a comfortable feeling not to have to shell $26,000 a month.
Do you know what place here in Florida??
Txx* Toy do you know what place here in Florida?
Boris Leonardo Omana Suarez
When I get home I can get u the guy name and the location.. actually they give you a better deal in Florida.. I have some friends
That drive from Dallas to Florida just to get there trucks..I think they crazy , but it’s there choice. I’ll look for u this evening, or call them for the number if I can’t find it.
Txx* Toy thank you men i appreciate that 👍🏼, let me know please
I just called Fey she laughed. Said call back in April maybe . She said no waiting list anymore . She basically said sorry not my problem and hung up....
At 10k miles per month you are at $2200 per month or $26,000 per year excluding maintenance and the up front $3700. That tradesman truck is prob $55k total. you would have a new one paid off in 2 years at the same payment schedule you are paying for this lease. Sounds like financing a new one is cheaper per year than this lease...
I disagree however at the end of the lease I'll be making a video comparing the numbers
@@TowPiglet Assuming 120,000 miles a year you would be at 240k miles in 2 years. If you bought a tradesman for $55k it would be worth conservatively 25k at the 2 years. Thats $30k loss in 2 years or $15k a year. right now you are at a minimum $26k a year or $52k over 2 years. you are paying nearly double per year as opposed to purchasing. You dont need to wait 2 years to figure the loss.
@@Regal2800 Dont think maths is his strong subject hence he is still into his other truck for 18k, Agree with you REGAL he is paying out to much, but his credit history might be so bad he cannot get credit on low interest rates.
Regal2800 I see where your coming from but add in All the maintenance and even one major break down after your warranty is over and leasing might be better...
Regal2800 $25k is very optimistic, most likely $15k add brakes tires oil changes other repairs ones warranty is up or cost of extend warranty and you will be very close to $52k in 2 years.
Lease advantages here is low down payment (refundable) and short term. Easy to walk away if you don’t like it. It’s a 6 month lease and u only pay $200 penalty per month if you end before your six month.also let’s not forget financial charges on 55k loan comes about another 5k making that $55k truck $65k truck after all fees and %
Good info, 5k Miles per month doesn't sound like many miles. Ive been driving 31 years but no Hot shot driving, definitely looking into it. thanks for the info.
Question do lease the truck and the trailer??
Great video, thanks. What about using a cargo van instead of heavy duty pickup, to pull a trailer? Thanks
How about credit rating to get approved for the lease???? I could see myself doing this!!! Years ago I ran medical supplies to hospitals the money was good but this sounds better
Brother how do you get loads
Is there is a broker from enterprise to help you get loads?
Truckstop and DAT Load board. Check it out!
Great information- Thanks. 🙏🏼
So if you drive 11000 miles per month your payments are 2,420?
Ya but realize even if he only got 1 dollar a mile, that’s $11,000 bucks lol minus monthly payment for trailer which would be 2-400 and then fuel, probably $3000 a month that’s still a lot of money lol
@@andreiparham3876 Then you have your insurance another 1200 a month at least,then you need to put at least 10% of your gross for repairs.Then you have all you DOT Bill's like interstate motor carrier,medical,book keeping,central dispatch alone is120 a month.Then you have your registration every year.SHALL I GO ON?
@@baraggia1 so is it better to lease rather than own
@@andreiparham3876 the rate is not less than 1.75 for hotshot mostly $2
It’s better than owning . New truck every 60000 miles ,that’s dream for hotshot.
lease is a good deal for starters
Wait until you get a cost on the fuel filter and water separator filter! This is a rip-off if you get it done at a dealership
@@jamesorr2404 - Exactly! I use to change my 05 Dodge fuel filter at every oil change, Wix filter $17. The new Ram fuel filter looks identical to the 05 Cummins filter, Advance Auto $98. Fuel/water separator $63. dealership priced about $375 to change fuel filter and fuel/water separator. It is robbery. Buy a $80k truck, then get robbed at every service.
Great video and info! Thanks so much!
what about if truck breaks down? whose pays for the repairs?
Great info man
It's not worth it guys. I use to lease a truck carrying a two car trailer, I paid 400 bucks a week flat rate. Yes there was weeks I had a good paycheck and other weeks I barely broke even. Because you got to realize this is not including the cost of the trailer, which if you financed is another payment, God forbid if you're renting that as well, then the cost of fuel.
Elkhart county, Indiana. The RV manufacturing capital. Forrest River, Jayco, Grand Design, Coachman, etc. are all here.
Question why Ram ?? Not Ford. I’m cdl holder I drive for a big carrier company Ive only been driving for 3 yrs but truth be told you have open my eyes. I have a million question but they gradually been answered by you videos. Do u recommend team driver or solo
Thank you for your information.
Any new leasing programs?
Congrats Alex! Happy for you bro
Question do you think this is worth it if I get a truck from Enterprise and work under some company Authority? because some of those company they didn't recommend leasing truck they asking to have your own Truck
Great video !
Hello, I’m in Southern California and researching the business. I’m trying to find out how the loads are coming out of Southern California. I am aware that DOT is a pain in Southern California, but I can’t research loads. I was wondering if you, or anyone, had any any insight on loads coming out of Southern California? Any insight is greatly appreciated.
The Good
Southern California usually has man loads
The Bad
They all pay very little and when a nice load comes out, it's gone in seconds
Hi Alex, could you explain how to go about getting loads. I have a truck and am thinking about getting into hot shot trucking, thanks!
Ps, next time youre heading east on 40, theres a little town just passed Kingman, Az, called Seligman, take the 2nd exit. Theres a bbq restaurant there and its fantastic.
Hey bro, I have a 2004 f350. I'm located in California would I be able to get my authority with my truck ? Or how would i be able to find out what California requires? Do you think I can make make good money locally in Los Angeles? I would just need a trailer