welcome back to another edition of we don't know what we're talking about oh
we're talking about what it means to be a lease operator now what type of lease
operator are we discussing in this you would think we would have discussed that
before we turn the camera on no we're clarified we're talking about not
someone who goes to a truck manufacturer or a truck dealership and signs their
name on the piece of paper we're talking about someone who goes to a company
sponsors and leases a truck sir prime or Swift and leases a truck through Swift
or there's something now that you can go to multiple companies
some people would turn these not I some people would turn these that's glorified
company drivers okay because they have the burden a lot of the burdens of owner
operating but they're a lease driver the the title is not in their name they
can't move the truck to a different company okay so lease operator is paid
on a 1099 so that means your income taxes your
social security taxes none of that stuff is takeout so you have to pay your own
taxes at the end of the year or quarterly or however you choose to do a
1099 contractor is in charge of where they fuel that's part of the you make
the decisions you you can refuse loads you don't you don't have force
dispatched in as your if your contractor if you don't meet those requirements
you're there in violation of contractor code so you decide when you want your
time off you may still have to kind of get it approved or put it in but it's
not so much of it I don't know you can't have off you just more or less let them
know when you're taking off and the responsibilities of the truck payments
and everything else is all up to you you have to do with that and instead of the
company track it's sort of your truck except your name isn't on the title so
like I said I use prime as an example you might be leasing it from prime but
Prime's names still on the title your names on the title
most of the trucking company leases you can walk away from and there's they
might say that you damaged the seatbelt and try and bill you for any seatbelts
or something but there's generally no actual consequences of it you can just
turn and walk away some do charge a restocking fee some charge a a down
payment in the beginning different things like that it's not the same as
being an owner operator because if you don't have to pay for it you don't have
a choice it's like your house loan right you can't force my house loan you can
but you're gonna get sued that's not walking away without repercussions no
it's not so you can't just walk away without repercussions that's some of
them you can move to an approved company there's some what's the name of the one
leasing program several people have done I could don't remember that it's like
it'll cost you $2,000 but you can move your truck from trying to Swift let's
say correct and you're still the truck is still in their name and everything
and I would assume that they're going to take their finances your payments and
everything you're not going to send them their payment their payments still gonna
come out of your your settlements yes and that's another point on here your
your check prior to you receiving your check all of your bills are taken out so
your truck payment is made before you ever get your check they take their
money first on that lease program now we're not advocating for anyone to
go lease trucks there that's a whole separate
video with a lot of different directions that can go in because I do believe
there are some good leases I do think the majority of them are terrible and
generally if you're under Elise your lease company or your trucking company
or whoever's in charge of that keeps the mandatory maintenance account out of
your check before you ever get it so it might be 8 cents a mile they take out
your check and whatever you agreed to and there's many different companies and
do things differently in with these issues right they maze that you may have
to do all repairs at a company shop or if only a company approved places or
mites a company a through places and they only approve their shop elise
operator it's still very much so under the thumb of whoever's name is on the
title of that truck that's probably the easiest way to put it nowadays it seems
more so than used to if this has been a helpful comment below