Hi I have a friend who will run my truck and trailer for me since he has a lot of experience in the industry. He will also hire driver, maintain the truck etc.
1. Should I still apply for DOT#? or can he run my truck under his DOT#?
2. Do I get insurance under my company name or he adds this truck under his company insurance and bill me? (This truck will be registered under my company name)
Someone will run my truck and trailer Questions
Discussion in 'Ask An Owner Operator' started by Trucking121, Jan 17, 2021.
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What does your friend with lots of experience in the industry say?
Flat Earth Trucker, Crude Truckin', Trucking in Tennessee and 8 others Thank this. -
You’re going to lease onto your friends trucking company and he’s going to keep it rolling for you...if so, see below.
You won’t need a dot#, you’ll be running under your friends.
You will need “Non-Trucking liability” aka, but somewhat different “Bobtail insurance”Trucking121 Thanks this. -
He never done this before.. thank you!
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Sounds like you'd be better off just selling the truck to your friend because 3 hands in the pot means you're not gonna make a penny off that arrangement.
Flat Earth Trucker, Crude Truckin', shanman and 8 others Thank this. -
If he has his own company why is he running your truck?
Without more information you are post raises more questions than answers..Flat Earth Trucker and bigguns Thank this. -
What’s your opinion on this? -
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Thank you for clarifying that.
I would not try to just dissuade you for the sake of doing that, but my honest opinion is that it's a very difficult situation For more reasons than I can actually write out in a post.
As was said earlier with 3 hands in the pot you are lucky if anything is left over. I don't think 17% of the gross is even enough for him to just pay a driver. Are you saying that you would pay all expenses including paying the driver and then you give him 17% for handling things?
I will respond to your post honestly however I can but your best bet if you have money to invest is to just by real estate and pay the realtor 10% to handle it and that's the best answer.Many people become wealthy in realestate. Most people lose money in trucking especially if they have no experience and rely on someone else.
There are a lot of ways this could go badly and cost you a lot of money, and hear my words- COST YOU A LOT OF MONEY. Even if everything went smoothly, you would not make very much in the end and it would be a very bad risky way of trying to use your money to make more money.bigguns and Trucking121 Thank this.
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