Purchasing my own truck - what options do I have to work under a carrier?

A good carrier wil offer you insurance, take care of filing ifta, and maybe even file your heavy weight tax for you. Some charge fore permits, some dont. Soe charge for HWT, some dont, cargo insure is generally their deal. You can lease under their dot as long as they let you. You really need to negotiate all of this with the carrier. If thy pay for none of it but pay you and awsoe rate, thats fine. If they pay less, but pay for perits, plates and HWT (2290), then thats ok to. Every company is different so you need to negotiate that into your rate.

 

Ok... first off youretail going to be LEASED to them. They insure your truck trailer etc. Only insurance you will need is Bob tail and possibly physical damage. You'll run under their authority they'll take care of your ifta. Plates ect. Although you'll probably be responsible for the cost of plates and ifta taxes as well as the insurance cost on your truck. Make sure they pay you on percentage. Then they are renquired to show you what they bill the customer if you ask that way you know you're not getting screwed.

I've had both my own authority and being leased personally I'd kill to have my authority back. This leased stuff I can't do exactly what I used to do with a log book and what not. Is what it is insurance is a lot cheaper non and it's their ### not mine. Any other questions feel free to ask.

 

Getting your own Ins policy does not mean you have to get your own authority.

The carrier you are trying to contract with should know all this but, I don't blame you for seeking 2nd or 3rd opinions either... good luck

 

Sheep dog is correct you can purchase your won ins. And still lease on. However if you are forced to get your own authority you'd be better off getting your own trailer or doing a lease from a company like pens ke on a 53 van not sure what you're pulling though for freight.

The authority process is a headache to start up. You'll need an dot # (free) mc# ($300) and the Mc takes 30 days to become active or you can pay an additional $14.95 and have it rushes which gets it in 20 days or so. And for the first 18 months your considered a new entrant so you'll be under the watch full eye of DOT so don't screw up. They'll do an audit for new entrants within the first 6-12 months to check paperwork and what not it's easy and simple they want to help not put you out of business.

The loads will either be trip leased to you from that company OR the company will broker them to you but they must have broker authority to broker loads to you. You'll be the carrier on the bills nobody says much just give them the ld. # and hit the dock and have your company name printed on the bills. If you have your own authority and trl. And they book your lds. I would take NO LESS THAN 90% GROSS FOR PAY% that's with a fuel card furnished by them so you don't have the upfront cost of fuel.

Figure to get started after the truck purchase you'll need approximately 90 days worth of capital to run on or about 30,000 make sure you are going to be paid weekly that will help replenish money sooner obviously. It'll cost you 1200-2000 for your plate, 550 for the highway tax, 300 for the authority, 5 for the ifta stickers, first weeks fuel will be around 3000-4000 insurance for the down payment with new authority will probably be about $1500-2000 depending on record exp. Etc. It's a big cost to start up but you will be in control of what you do and where you go. If you DONT want to run certain states leave them off your cab card simple as that.

My numbers may be a little off on what the start up costs are it's been a couple years since I have dealt with it. But their rough figures for what it'll cost you to get going.

 

If you get your own auth, why even use them at all? you can get your own insurance even if they offer it. As for ifta, i dont think they will pay any additional fuel tax owed,...as for 2290 (HWT) you will prob need to pay it...ask though..its like 500 bucks a year. You need botail liability at minimum, but you need to ask exacly what they cover. They should provide cargo insure, weather thay pay for it or not.

This all being said, i dont know any insurance companies that will insure a driver with less then one year us driving. If you have a full year progresive might work with ya.

As for guys that say you cant make money leased on, they are full of bs. I have 2 trucks, both leased on andi dont even need to drive. Im making real good money

 

Progressive will insure any idiot with a CDL regardless of experience...insured me when I still had a permit just saying.

 

first off, heres the real deal. I understand you asking these questions because you don't know the answers. but here is the truth of the matter. if you don't know the answers to these basic questions then you need to lease on with someone first, you are in no way ready for your own authority at this point. I fail to understand why anyone who even mention it to you.

you aren't ready right now, and frankly you should have asked these questions first to your family, then come on here and asked if they were screwing you.

and by the way , pay your own 2290, you can do it online so theres no screw-ups. its not hard.


again, don't even consider your authority at this point, you are not quite ready, learn the ropes more before you even consider it.

and why in the world would someone get the own liability and lease on somewhere?? it defeats the purpose. I wouldn't let anyone operate under authority unless I provided the insurance under my name and my operating authority. to much risk, is a yahoo doesn't make his payments.


I think some folks get physical damge and liability for authority confused.