Being an owner operator

Diesel Dave, unfortunately not too many guys on here remember the days where teamsters were big in transportation. Probably don't even know what it is. But if we had a crystal ball back then I think all of us would have pushed harder to keep them around. Freight would be moving at 4$ per mile pretty much across the board. Not just in small pockets like now.

 

My oldest son is a teamster. He wanted to follow my steps and be an O/O, told him get a good company job and I pushed the issue. I'm not going elaborate why I pushed it, too much to say. But will say he loves being union. He knows how to manipulate the system in his favor and get paid.

 

If you can use a laptop, print, scan, and do a few of your own repairs, your ready to get your own authority.

 

Really?

Yes it does.

When I was on the road, I had the same freedoms as others who had authorities. I was an owner operator. Now I have a fleet and happy.

My trucks are all on with a bunch of companies because to get an authority was not justified. The money I save is clear, the time spent on things like chasing money or dealing with customers isn't worth the losses. I can actually justify purchasing more trucks and expanding my little fleet because I have leases.

 

Two questions here, own authority or leased? What's main difference? Also are the older trucks like most other older vehicles? What I mean is are they more basic and possible to work on without a $100,000 garage and a computer engineering degree from MIT?

 

Own authority: your truck, your plates, insurance, customers, billing, you name it, it's on you.

In this case leased is referring to : leased on to a carrier. Your truck, but they are responsible for all the rest, although they may have you pay for some of it.

The other form of lease some are thinking is to lease purchase a truck from the carrier: their truck but you sign a contract to pay for it over some period of time with the understanding that some day you will own it (hopefully).

The other lease : lease financing, from a finance company of some type that is not a carrier. You are generally free to contract with any carrier you want.

 

Leasing depends on the company program I guess .

I am leased make 65% plus fuel surcharge.

I don't have to worry about freight, have tons to pick from and yes I pick my loads.

For 35% I get company paid freight insurance and truck insured when UNDER LOAD. A vast network of freight to choose from.they deal with customers and all freight related problems. I use their equipment that they maintain, check is always in the bank on Fridays. Plus their experienced maintenance program I have access to in an emergency IE whom I can use to get their fleet discounts. Also fleet discount on fuel at .22 cents a gallon east coast and like .38cents west coast.
Fleet discount on tires.


I know many here hate leasing but, I did my research and found the best leasing option out there.

Also I can leave with my truck at any given time....

 

Own authority means you are a registered independent trucking company.
Trucking company is in your name you have your own DOT number.
You get a ticket youbgetbthebdrivers tickets and then your company gets the company fine as well.

IE phone in hand while driving? Your ticket as the driver is 1400 bucks plus points .

Your company fine is 12000 yes thousand.... and the CSA points.

Laws are more geared now toward hitting the companies harder then drivers now, so companies won't force drivers to do illegal things.

Why you see companies wanting safe and COMPLIANT drivers now.
Companies don't want the hassles, the fines or the points.

 

I have my own authority, I hauled for 2 brokers/independent carriers on regular basis. I'm not on a lease and I have plenty of work, more than I can handle. I never worry about chasing my settlements. It takes years to find out which contacts are worth using. I'm pretty much comfortable where I'm at. When things get way to slow, I don't mind sitting around for a few days, that's why you save for those raining days, but if I get that itch where I got to move, I have few other contacts I have to which I never have an issue collecting.
I'm familiar with leases, I tried one with the first truck I ever owned, Yes, the settlement was there every week, but it was like driving for a company. If you refused the load, they would put you at the bottom, I agree that you take the good with the bad, I just didn't like the pay and It felt like you was a company man.
Btw Ridgeline, I enjoy all your posts in the CB forum, very informative

 

I lease and I pick my loads. Some companies have changed the lease purchase programs.
Very few but I think I got onto one of the best if not the best.
I run when I want, and go where I want to go. Making money could make more sure but considering I am still a young trucker of 4 years it may be the best way for me to get my feet wet and expand from there.

Constantly learning day after day still.
Although there are still some shiesty lease programs out there.
Research research and talk to tons of drivers and there experiences in lease purchases.

Guess technically I bought this truck from a division of the company and pull freight for the another division.
I am free to move me and my truck to another company if I choose too.
Also is not a walk away lease and I can pay off the truck in full at anytime I want.