Can you really walk away from a truck lease with no strings attached? In this episode, you will learn about the importance of understanding the contract, maintaining financial stability, and communicating effectively with your carrier.

Lease agreement can be complex and Andrew explores the potential pitfalls drivers may encounter. He discusses hidden clauses related to early termination penalties, debt accumulation, and truck condition. He also shares a cautionary tale of a driver who made costly mistakes, highlighting the importance of responsible decision-making and open communication to ensure a smooth exit from a lease agreement.

Takeaways

• A walk away lease is not as simple as it sounds.

• Drivers must understand the clauses in their lease contracts.

• Financial obligations must be met before walking away.

• Proper truck condition is necessary for lease termination.

• Companies may withhold paychecks to cover debts.

• A good relationship with the leasing company can ease termination.

Learn more about us by visiting Chief Carriers.

This podcast is produced by Two Brothers Creative 2024.

As an owner-operator, are you getting the most out of your hard work? In this episode, Andrew tackles the critical question of percentage-based pay versus pay-per-mile. He breaks down the pros and cons of each, analyzing how market fluctuations and carrier transparency can significantly impact your earnings.

Using real-world examples from his experience with lease operators, Andrew highlights the importance of timing and predictability when making this crucial decision. Whether you're a seasoned owner-operator or just starting out, this episode provides valuable insights to help you navigate the trucking landscape and maximize your earning potential.

Takeaways

• Both pay per mile and percentage contracts can work depending on market conditions.

• Drivers often underestimate the financial challenges faced by trucking companies.

• The trucking industry typically operates on a 7-year cycle of good and bad years.

• Market conditions can significantly impact the viability of pay structures.

• Understanding the difference between contract and spot market freight is crucial.

• Drivers should seek transparency in financial data from carriers.

• A steady pay per mile can provide security during market downturns.

• Timing is critical when choosing between pay structures.

• Drivers should run their own numbers to make informed decisions.

If you're ready to work for a carrier that has a great lease program visit us at Chief Carriers.

This podcast is produced by Two Brothers Creative 2024.

What’s the real cost of changing jobs? The offers out there seem fantastic, but are they worth the move? Making the decision to change jobs is a big one. Not only are there financial considerations to take into account, but other factors such as job satisfaction and stability must be weighed in. Andrew takes an in depth look at these elements that go into the cost of changing jobs. From the risk of losing consistent pay to the reputational cost of job hopping. Check out this episode of Driven Too Far: The Truth About Trucking to learn everything you need to know about the cost of changing jobs.

Want to work for a company that values their tenured drivers. Visit Chief Carriers.

Original Air Date: Jan 2, 2023