To help you build your trucking business, CloudTrucks will cover certain costs up front so that you can keep putting money in your pocket while you’re building equity in your truck. We deduct a percentage of each load to pay back those costs.
If you’re working with our preferred leasing partner, FleetFirst, here’s what you can expect those deductions to look like:
- LEASE-ON AND INSURANCE FEES (24%): We take 13% to cover CloudTrucks’ leasing fee, 8% to cover your auto liability and cargo insurance, and 3% to cover your dispatch service.
- PICKUP PAY (0-50%): If you’ve taken any Pickup Pay for this load, we’ll deduct that next.
- CT FUEL PAYMENTS (0-35%): If you have a balance on your CT Fuel card, we’ll attempt to pay it down to $0 after each load is delivered – but we’ll never take more than 35% of your linehaul. Learn more about how Fuel Card payments work.
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DEDUCTIONS (30-35%): CloudTrucks will deduct up to 35% to repay any outstanding balance. This might include:
- FleetFirst truck payments: Including your truck note and your security deposit ($2,000 paid back $50/week over 40 weeks).
- ELD rental ($30/month): All CloudTrucks drivers are required to run on a Motive ELD we provide.
- Escrow account ($2,000 total): We collect $100/week over your first 20 weeks with us, starting two weeks after your first completed load. Learn more about Escrow Accounts.
- Plates ($50/week): For drivers renting plates through CloudTrucks.
- NTL and Occ Acc Insurance ($38/week): We partner with Reliance to provide NTL and Occ Acc insurance. Learn more about our insurance options.
- Other expenses: These could include tolls, violations, and IFTA taxes (paid quarterly).
- TRAILERS: 5% (or 7% for flatbed) from each load. At the end of the month, if we have not collected the $600 minimum ($800 for flatbed), we will collect an underpayment deduction. . Learn more about leasing trailers.*
- MAINTENANCE FUND ($200/week): Your Maintenance Fund prevents unexpected repairs from becoming a threat to your business, helping you set aside cash for any planned or unplanned maintenance. Learn more about Maintenance Funds. *Not required for the Ryder Full Service Lease
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