Lease out my semi
Discussion in 'Ask An Owner Operator' started by Link15, May 30, 2021.
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In the words of some guy who needs to lear English.. You shou sale the truck. Current market for a used truck will give you a good return. If you have a trailer same also . put authority on hold. And canceling insurance isn't hard. The price your gonna pay to have some guy drive your truck isn't worth it. Im independent I've thought of buying trucks and hiring drivers. #1 finding a good driver. Most insurance companies want 3+yrs exp. # 2 profit after expense. Lets say a 7k gross week 1500 to the driver for pay and thats at .50cpm running 3000 miles a week truck getting 6 mpg avg. 1500 in fuel with around 375 a week or 1500 a month on insurance if your lucky.. And this is no break down no maintenance no problems profit and you know trucking has no guarantees from week to week forgot tolls. Depending on where you run. 200 a week. A possible $3,425. That number is only a example as not all weeks will be 7k some more some less an this number is without a truck or trailer payment.
Link15 Thanks this. -
My hired drivers worked exactly 65% as hard as I did. And they managed to break stuff on my trucks that I didn’t think was possible to break.
you likely won’t make any money with a hired driver , certainly not enough to be worth the risk. If you’re hired driver gets in an accident , YOU will get sued .Last edited: May 31, 2021
gentleroger, Link15 and 401-Alex Thank this. -
Your funeral, my friend. There was a time, when good drivers were all around, and willing to make a change. Today, drivers are more concerned with the cupholders( sorry) than what that noise is, or worse, what that pegged gauge means. When I had my trucks, they were my babies, and NEVER thought once about someone else driving it. Too many horror stories today, the posts here a FULL of incompetent drivers, twisting up company Volvos, knowing there's plenty more where that came from. In short, I agree, sell the truck and get a fishing boat. Take it from me, someone with 35 years in trucking, consider it a blessing you can't drive anymore.
baha, Crude Truckin', gentleroger and 2 others Thank this. -
If you're going to sale the truck, may as well sale the MC number too.
But money can be made with it. There's attorneys who specialize in business contracts can likely offer relevant services or at least guidance. Also OOIDA and NASTC will likely have resources available. OOIDA annual fee is like 40 bucks, I think NASTC runs like 350. -
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Thank you. Sounds pretty on point. Would you change anything in your answer if I had no debt and would sell the truck at a loss?
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Thank you. First I heard of selling MC. Besides asking an attorney and OOIDA, how are Authorities sold?
slow.rider Thanks this. -
If you are going to hire a driver then you need to factor in all the costs. Take your numbers for the last three years and average them out. You have a 7 year old truck which is about to start nickle and diming you, so increase your maintenance costs by 5%, then increase that by 15% because the hired driver is going to get things fixed where/how it's convenient for him - not your pocket book. Increase your insurance costs by 20%. Next, drop your revenue by 15% - he's not going to work as hard or take the same chances you will. Finally subtract $75,000 for driver pay - you won't get someone to stick around for less than that. Odds are that even at that wage you'll be replacing the driver every year.
If after all that, it looks like you'll still be making enough to make it worth your trouble, then start looking for a driver. Keep in mind that it's going to take 4 weeks to seat a driver, so you have all of your fixed costs to cover.
From my perspective a one truck operation with a hired driver is a bankruptcy waiting to happen. Running the numbers it looks like a person would need a minimum of 8 trucks to truly be profitable. You'd be better of selling everything now than burning through your capital and then shutting things down in a year.Link15, GoneButNotForgotten and 401-Alex Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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