Need advice on new trucking venture.

You would be violating the terms of your lease which means they could repo the truck, keep all your payments, & ruin your credit.

 

All this negativity. You should be supportive. Your a bad person and will never amount to anything.

 

If you have money for down payment, insurance, authority etc why not just find truck you want get financing from the bank and GO!

 

You can get financing with bad credit through Cardinal Logistics. Down payment is $2000.00 and you haul their freight.

• Our transportation-industry financial partner can help you buy a reliable, late-model truck
• You’ll get the best rates and terms: only $2,000 down and a short, 36-month term
• You’ll drive recession-proof, dedicated freight
• All round-trip miles are paid, loaded or empty
• Your safety record and work history matter more to us than your credit history
• Receive convenient, weekly settlement deductions

 

Fikes Truck Line has a program also to help you become an 0/0. This isn't a lease program, it's a purchase program. Call and ask about it.

 

Being leased to someone else and paying for the insurance for a year to keep your authority active would be the fast track to bankruptcy court. I don't know what your lease calls for from Lone Mountain but I would think as long as you make your payments on time they wouldn't have cause to cause you any trouble. The change of insurance would surely be reported but if you carried your physical damage insurance through the original carrier and then carried your trucking liability through the company of your choice, the lender would not be involved in that transaction and would not be notified. Check with your friend who is helping you get the truck off the lot and see if his insurance company will let you carry your bobtail insurance through them for the next year and you will be all set.

 

Stay put where you are and don't jack yourself up. Hard times are coming soon. Don't make it any harder then it needs to be on yourself.