Why yes, yes you are!
Am I Getting Ripped A New 1?
- Thread starter BigJoe0904
- Start date
nightcreacher
Veteran Expediter
u receive 45% after expenses,right?
jaminjim
Veteran Expediter
D Team Brothers
Expert Expediter
This is a prime example of how inexperience and lack of knowledge can be used against a person by a BAD O/O. Also, an example of how useful EO can be used to a driver with questions. Get out of that truck and find an honest O/O. J.M.O., Jack
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Just thinkin here...........
You'd be a 'team'... in a D unit.. with FECC...
Say your gross revenue was $2500/wk or $10000/month (is that too much to expect these days for a team in a D with FECC??)
According to BigJoe himself (in saying that out of $1000 to the truck he would get $360), the fuel would cost about $200 for every $1000 earned to the truck?
So....
$10000/month revenue
Less $2000 fuel?
Less $2300 expenses?
= $5700?
x 45%
= $2565? clear?
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Compare this to:
$10000 gross/month revenue
x 40% (where driver pays no fuel on a 40/60 split)
= $4000
divided by 2 (50% for each driver)
= $2000
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Where's the big ripoff?
Of course, the big unknown in this is the potential repair bills. Would the extra $565/month cover 50% of that?
Could it be worked out where the Co would only be responsible for half the repairs up to a max amount?
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Sounds to me like the OO wants to team but doesn't want to risk paying his Co more than he'll be making since he's the one putting up the risk?
Also sounds like if it worked out and there was no more loan payment, BigJoe could add $875 more per month to his net? (Half the 1750 truck payment?)
If the owner is experienced and knowledgable, perhaps BigJoe could learn a bit and make some cash.
The owner is cleaning his clock because he is taking the write-offs for all the expenses and the truck yet charging the driver for a half that he can't write off. . He says it is a 2005. A whole lot of repairs can be racked up on a vehicle of that year that this guy would be paying a portion of. As for repairs, 565 would be a drop in the bucket for repairs @ 50 percent.
He would be better served at 20 percent of the entire gross with no expenses attached as a co-driver.
Bottom line, bad deal.
He would be better served at 20 percent of the entire gross with no expenses attached as a co-driver.
Bottom line, bad deal.
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If the expenses are shared, shouldn't the write-offs be shared also?
OTOH, does a 40/60 driver get any write-offs?
alwaysontime
Seasoned Expediter
Can you say dumb?
In his case no. Everything is in the owners name. The owner would get ALL of the write offs. At this 45 percent, it is a overinflated wage that he can't write anything against, thus my recommendation of 20 percent wage and that is it. His only real write off would be the daily per diem.
There is a distant possibility that he has in his possession a contract that clearly and specifically addresses how each expense is to be handled at tax time drawn by a lawyer/accountant.
But...............common sense and scammers tells me it doesn't exist.
There is a distant possibility that he has in his possession a contract that clearly and specifically addresses how each expense is to be handled at tax time drawn by a lawyer/accountant.
But...............common sense and scammers tells me it doesn't exist.
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moose
Veteran Expediter
You can get a good used truck from Integrity Motor Freight for $250.00 to $350.00 a week and its yours. You get 100% of everything and they just take out the truck payment fuel and so on. It all depends on what you want. But the deal your talking about I would RUN like everyone is telling you.