Leaving expediting
- Thread starter panther_art
- Start date
panther_art
Expert Expediter
Yea all the time got a truck.
Panther Art
Panther Art
I hope your friends in legal help you figure a way out of this and I hope as soon as you're clear you will name the guy ripping you off so badly so others won't get taken by him. That's just outrageous what he's got going.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
snowbird74365
Expert Expediter
hi
where do u live? if you qualify with fedex i could use you in a straight truck if interested.
terrie bergman send me email at [email protected]
where do u live? if you qualify with fedex i could use you in a straight truck if interested.
terrie bergman send me email at [email protected]
Panther_Art, I'm just wondering how long the terms are of these payments. $900 dollars by itself is high, unless the owner took a shorter term on the loan. Does the $1000 go toward the equity the owner has in the van? If the result of this arrangement is that you have a paid off, late model van in a relatively short period of time, it may not be as bad as it sounds.
panther_art
Expert Expediter
Ok this is a 5 year contract and its not really $1900 its $1878.00
$878.00 monthly van payments and $1000.00 a month for the owner.
And its for 5 years thats over a $100000.00 if I stayed in this contract. (nice profit for someone that has never been to Seville all was done by fax)
$878.00 monthly van payments and $1000.00 a month for the owner.
And its for 5 years thats over a $100000.00 if I stayed in this contract. (nice profit for someone that has never been to Seville all was done by fax)
An $878 monthly payment for 60 months at 10% interest would be a $41,300 loan amount. It sounds like this guy is ripping you off for $1000 a month just for the privilege of paying out the loan on a full retail price Sprinter van that he may have bought at a 7-8% rate so he's making profit on the interest rate too. It's too bad you didn't have a chance to post the terms of this deal prior to signing so it could have been critiqued. I still believe you should post the guys name so anyone reading the forum will know to stay away from the guy. I hope he does something to default on his end so you can get out of the thing and sue him to recover the portion he's stolen from you.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
I suspect his contract is, or is like, a lease to buy a vehicle and if he walks away from the deal, he loses all that he put into it. On top of the lease, he is paying the owner of the van $1000 monthly for the privelege of their business relationship, kinda like a franchise fee.
Panther-art, if you have no written obligation to continue your relationship with your (lessor)(banker)(friend)(owner), I join the other voices on this site that suggest you walk away from this deal and take your losses before you go deeper in the hole. I wouldn't be surprised if any agreement you have to lease to own that van would have a loophole in it that would allow the owner to void your contract as you near the end of its' term. It could be something as simple as the owner telling you that the Carrier (Panther) is not pleased with your performance so the deal is off. Bring my van back to me. I've seen a Michigan owner do just that to a man who was leasing a van for purchase.
That $1000 a month is beyond ridiculous; you can get a similar deal for $0 by any number of EO forum members.
Panther-art, if you have no written obligation to continue your relationship with your (lessor)(banker)(friend)(owner), I join the other voices on this site that suggest you walk away from this deal and take your losses before you go deeper in the hole. I wouldn't be surprised if any agreement you have to lease to own that van would have a loophole in it that would allow the owner to void your contract as you near the end of its' term. It could be something as simple as the owner telling you that the Carrier (Panther) is not pleased with your performance so the deal is off. Bring my van back to me. I've seen a Michigan owner do just that to a man who was leasing a van for purchase.
That $1000 a month is beyond ridiculous; you can get a similar deal for $0 by any number of EO forum members.
panther_art
Expert Expediter
I would like to thank all of you for your advise and I am going to walk away and take the van up to panther on Monday.
They always beg me to stay we will see what happens after this.
Panther Art
They always beg me to stay we will see what happens after this.
Panther Art
The fact that Panther begs you to stay means nothing. Panther isn't paying the outrageous sums that you are.The owner of this van is makeing a killing off you. But I have to wonder why are you going to Panther instead of the van's owner to return the unit.
I'm guessing the guy wants you to return it to Seville so it's there for the next victim. If it's no less convenient to you I'd return it to him so he's stuck getting it back to Seville and at least that much inconvenienced.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
panther_art
Expert Expediter
Lets see in three months I have been paid a total of $940 + my 45% which when I am on the road just about all that is used up plus I still have bills at home that need to be paid of which I use part of the 45%.
The cost of driving this van all the way back to where this owner lives and have someone follow me there to get a way back home could be very costly.
If you guys could see some of the emails I have been getting from this young punk maybe you would understand.
I drive out in this cold on roads where there are cars and trucks in the media area of the interstate every other mile. And has the nerve to send me an email crying because he didn't get any money this week.
I have told him a 100 times to check the web site and count 15 days from the time the paper work is in then he would know when the checks and how much they would be.
I told this person that I would help him get into this business and explaned to him at the very begining that he was putting a van on at the slowest time of the year and around the middle of Feb going in March it would take off.
The money is not why I want to leave this owner its the crying about not getting his share.
Panther Art
The cost of driving this van all the way back to where this owner lives and have someone follow me there to get a way back home could be very costly.
If you guys could see some of the emails I have been getting from this young punk maybe you would understand.
I drive out in this cold on roads where there are cars and trucks in the media area of the interstate every other mile. And has the nerve to send me an email crying because he didn't get any money this week.
I have told him a 100 times to check the web site and count 15 days from the time the paper work is in then he would know when the checks and how much they would be.
I told this person that I would help him get into this business and explaned to him at the very begining that he was putting a van on at the slowest time of the year and around the middle of Feb going in March it would take off.
The money is not why I want to leave this owner its the crying about not getting his share.
Panther Art
It's not hard to switch owners, as the wife and i did 2 yrs ago...NEVER BEEN HAPPIER!!!
ps...the one i drive for doesn't micro-manage us like some I have heard about.
A driver I was talking to the other day said the woman they worked for would call them at the begining and end of each pro they did...tell them to put 30 gallons of fuel in for this run...25 gallons for this one, etc, etc, etc...tell them were to park and shut down til the next load, don't idle the truck. MY GOD THAT WOULD DRIVE ME TO......Something!!!
ps...the one i drive for doesn't micro-manage us like some I have heard about.
A driver I was talking to the other day said the woman they worked for would call them at the begining and end of each pro they did...tell them to put 30 gallons of fuel in for this run...25 gallons for this one, etc, etc, etc...tell them were to park and shut down til the next load, don't idle the truck. MY GOD THAT WOULD DRIVE ME TO......Something!!!
jaminjim
Veteran Expediter
I know this may sound cold but, it has been talked about many times. Two people can't make a living off of one van and one driver.
If and yes I said IF a van can run $1,000.00 a week average, and if the owner gets 40% of the gross that would be somewhere around $400.00 a week. If you take 400.00 X 4.3 weeks per month you come up with $1,700.00 per month. Panther Art will get a worn out van at the end of that time. the rest of the people would get a hand shake.
I am not saying it's a good deal. because most of the people that have been on EOL for any length of time have heard it said over and over. Two people cannot make a decent living with one driver.
Panther Art has been an expediter for a long time (b-4 2003) both as a driver and an owner, and one would think that he would have known the pit falls of trying what he did.
Not trying to be a #### head but come on now. If he had some bad luck like we all can have, he would have to be very proactive as far as staying in service and working hard to dig out. And then be back in the groove.
If and yes I said IF a van can run $1,000.00 a week average, and if the owner gets 40% of the gross that would be somewhere around $400.00 a week. If you take 400.00 X 4.3 weeks per month you come up with $1,700.00 per month. Panther Art will get a worn out van at the end of that time. the rest of the people would get a hand shake.
I am not saying it's a good deal. because most of the people that have been on EOL for any length of time have heard it said over and over. Two people cannot make a decent living with one driver.
Panther Art has been an expediter for a long time (b-4 2003) both as a driver and an owner, and one would think that he would have known the pit falls of trying what he did.
Not trying to be a #### head but come on now. If he had some bad luck like we all can have, he would have to be very proactive as far as staying in service and working hard to dig out. And then be back in the groove.
Twin Pop USA
Expert Expediter
Man, its scary how desperate people seem to be to get into this industry. How much profit can you make in a van after putting out 1900 a month?? Another reminder of how valuable I think I am owning a van as an expeditor. 5 guys are waiting for my spot if I get my contract cut
panther_art
Expert Expediter
Yes jaminjim I know I should not have gotten into this deal. I been kicking my self everyday for the last couple of months and right now my rear is very sore.
But now it's over.
Tried all day to reason with this owner about changing the contract but I had no luck this is the owner van he owns and he saying he's just breaking even. How anybody that does not put one penny in something and claims there are just breaking even is something thats got me.
Lesson learned
Panther Art
But now it's over.
Tried all day to reason with this owner about changing the contract but I had no luck this is the owner van he owns and he saying he's just breaking even. How anybody that does not put one penny in something and claims there are just breaking even is something thats got me.
Lesson learned
Panther Art
nightcreacher
Veteran Expediter
I suggest to take the truck back to owner,make sure its all cleaned up,and if he wants give you trouble,can you really get blood out of a turnip