Would any Pnather II cargo van O/O's please respon

[rollingstock]

Hello to all

I have some questions here and I hope you will be so kind as to allow me a few minutes of your time. I am thinking about signing on with PantherII with a cargo van. I spoke to the recruiter and he threw me some numbers and I want to know EXACTLY what the numbers will equate to.

1. .77 per mile for loaded miles (1500-2000 per week, I live i Macon, Ga). Got that one.

2. Deadhead, .25 after 100 miles. Okay I got that. He said backhaul rates are 3-5%. I asked if that was for the year, and he said yes. Is that accurate? Additionally, he said that "85% of the gross contract would go to the vehicle. This I don'e really understand.

3. He said 10-14 days out. I get that part and 1500-2000 miles per week averages to 1750. If 12 days is the average time, then the miles per load is approx. 145 miles. Is this what I could expect? I suspect I could drive substantially more than that, but if I can expect to acheive the gross he spelled out, then that is okay.

I have done as much home work as I can and project my vehicle expenses (I based fuel @ 2.00 per and 11 MPG) to be $.36 per mile. I can make money if I get the miles and my expenses remain in that range. BYT I included depreciation as a seperate expense in my sub S corp. model.

I drive more that 400 miles every day 5 days per week. I drove OTR for a year and just don't want to drive anything big any longer.

Any response is greatly appreciated

Thanks to all
Bob

 

[davekc]

RE: Would any Pnather II cargo van O/O's please re

On your question #2
For the year they are saying you will do 3 to 5% backauls to reduce your deadhead. You can accept or decline to do these. They are favorable when you would take a load out to the west coast for example. Especially if you are driving single. Most return expedite loads from the west are team loads. The exception would be maybe something over the weekend. If you arrived and delivered on a Monday for example, you wouldn't want to sit there until Friday for a load.
Then again, some might? You negotiate your own backhaul rate with your own broker or one that Panther has provided. They(Panther) keep 15% for their percentage. This covers insurance,their authority, and collections.
On question #3
That is about right for a single in a van.
11 mpg average is alittle low I would think even with idle time built in?
I am not an expert on that with respect to vans as I run straights and TT's.
You are right with you latest post; your average would be closer to 300 to 350 a day verses 145
Lastly, size of van, locations and a little luck will determine what you really average.
Hope that gives you some idea
Davekc
owner
20 years

 

[theoldprof]

RE: Would any Pnather II cargo van O/O's please re

Could you explain "3 to 5% backhaul. Is a backhaul a load coming from outside the normal freight lanes, for example the west coast? What does the 3 to 5% figure mean. Thanks, :+ :+

 

[davekc]

RE: Would any Pnather II cargo van O/O's please re

What they are saying is for every 100 loads you haul, 3 to 5 of them may be coming from the areas outside of the regular freight lanes.
If for example you take a load to Montana, you may have a hard time finding a regular expedite load that you can return on. Rather than taking the empty move pay or deadheading back, they can provide you brokers to get yourself back on. They won't be high dollar freight rates with a van, but it usually will pay your way back to a good area. Also consider that if you sit there for days, how much are you losing for each day. You must know what it costs to run your vehicle and what your costs are daily if you choose not to move. As mentioned earlier, many of these loads are out of the west coast. Some will depend on how often you go out there. I wouldn't backhaul anywhere from east of the Mississppi. The only exception with a van might be southern Florida or northern Maine if a single driver and other vans are there.
Davekc
owner
20 years

 

[rollingstock]

RE: Would any Pnather II cargo van O/O's please re

Thanks Dave,

I appreciate your input. I have some more research to do and I feel that Panther is going to serve my purposes well. Everything I hear from my recruiter is being verified by the average driver I speak to.

I have found a very helpful resource online. Go to www.nolo.com and find all sorts of legal advice concerning establishment of legal entities. I have a little background in small corporations and find this site easy to navigate and easy to understand.

The IRS has a site in 1040.com that seems to have fair tax help to the consumer. There is still no substitute for a CPA though.

Not quite ready to seal the deal, but I am getting to close to having a general comfort level with the decision to go.

Thanks
Bob