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Lease Purchase & Fuel Surcharge Explained. Should a driver partake in a lease purchase in todays market? The answer in short is “yes” if you are getting a fuel legit surcharge and “no” if you are not. If you are not getting a surcharge, you are getting “ripped-off”.
In short a fuel surcharge is given to a driver for the high cost of fuel. The way it works is this. For every .06cpm the fuel climbs above $1.20 per mile, a truck driver should receive .01cents for a surcharge. Example: If the cost of fuel is $6.00 per gallon. You would subtract $1.20 from $6.00. The remainder would be $4.80. You would then divide $4.80 by .06. The answer is .80 or .80cpm. If you ran 3000 miles this week with a surcharge of .80cpm, you should receive $2400 miles in a separate check for your weekly surcharge.
This surcharge should be separate from the rest of the equation. this means for example, you ran 3000 miles at a rate of $2.25 er mile. The gross would be $6750. If you were getting 80%, your net would be $5400. If you fixed cost is $1500 you would have $3900. Your fuel bill would have been approximately $2500. Subtract the fuel from the $3900 and you have $1400 left. If you are getting paid correctly, the surcharge would then be added on to the $1400. So $2400 Fuel Surcharge plus $1400 equals $3900 total pay.
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Lease Purchase & Fuel Surcharge Explained
