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Is It a Good Time To be an Owner Operator

Discussion in 'Canadian Truckers Forum' started by Steve A, Jul 7, 2019.

Page 1 of 4
  1. Jul 7, 2019 #1
    Steve A

    Steve A Bobtail Member

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    Jan 1, 2015
    0
    Hi everyone how are you?I have a question I wanted to ask.I'm presently doing local LTL in Ontario Canada as an employee.I was thinking of a "lease to own" of another straight truck through one of the major LTL companies and hiring a driver to work it.This is my first time doing this but then I hear it's not a good time to do this because Canada is going into a recession in around 12 months time so now I'm second guessing myself.Can someone advise me on this please?Thanks Steve.
     
    Steve A, Jul 7, 2019
    Steve A, Jul 7, 2019
    #1
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  3. Jul 7, 2019 #2
    Bakerman

    Bakerman Road Train Member

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    Jan 27, 2013
    Phoenix, AZ
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    For me, I think it's always a good time to be an O/O, wouldn't do anything else.
     
    Bakerman, Jul 7, 2019
    Bakerman, Jul 7, 2019
    #2
    Nothereoften and BigHossVolvo Thank this.
  4. Jul 7, 2019 #3
    Zeviander

    Zeviander Road Train Member

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    Jan 23, 2015
    Winnipeg, MB, CA
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    There is a reason why people call those deals "fleece operators". The company technically still owns the truck, but you get the privilege of paying for all the fuel, maintenance and downtime.

    Unless you can buy a truck outright, don't bother looking to buy a truck.
     
    Zeviander, Jul 7, 2019
    Zeviander, Jul 7, 2019
    #3
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  5. Jul 7, 2019 #4
    not4hire

    not4hire Road Train Member

    7,142
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    May 16, 2012
    Calgary
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    Just. Don't.
     
    not4hire, Jul 7, 2019
    not4hire, Jul 7, 2019
    #4
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  7. Jul 7, 2019 #5
    13pete

    13pete Guest

    I wouldn't bother doing a deal like that.... they control your destiny and can break you in one bad month
     
    13pete, Jul 7, 2019
    13pete, Jul 7, 2019
    #5
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  8. Jul 7, 2019 #6
    Champagne mane

    Champagne mane Bobtail Member

    36
    12
    Jan 17, 2019
    0
    I heard O/O only good for long haul
     
    Champagne mane, Jul 7, 2019
    Champagne mane, Jul 7, 2019
    #6
  9. Jul 8, 2019 #7
    xsetra

    xsetra Road Train Member

    4,924
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    Aug 21, 2011
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    You want to keep your current employment as a company driver. Lease a truck and hire a driver for the leased truck.
    NO!!!
     
    xsetra, Jul 8, 2019
    xsetra, Jul 8, 2019
    #7
    David_S, BigHossVolvo and MartinFromBC Thank this.
  10. Jul 8, 2019 #8
    MartinFromBC

    MartinFromBC Road Train Member

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    Oct 19, 2018
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    Do something smarter, and less painful than that is.
    Buy a 200 pound anvil, and drop it on your foot.
    That is a better idea than leasing a truck to put a driver on.
     
    MartinFromBC, Jul 8, 2019
    MartinFromBC, Jul 8, 2019
    #8
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  11. Jul 8, 2019 #9
    BigHossVolvo

    BigHossVolvo Road Train Member

    1,414
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    Dec 15, 2016
    Calgary, Alberta
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    Everyone I have watched, lease or buy a truck to put a driver into, is bankrupt!

    I'm an O/O, but I became an O/O so I could drive the truck I wanted, and control how I run. I'm leased on to a company, that leaves me alone to do what I want. This is what I consider to be a good situation, to be an O/O.

    A few of my buddies got dollar signs in their eyees, so they got another truck and hired drivers, and all of them got ####ED hard. One guy I know is flying to Huston TX tomorrow from Wpg, because his "Driver" decided he didn't like OTR anymore, so simply drove the truck/trailer to the airport and flew home; leaving the truck and trailer with the keys in it, in the airport departures 15 mins parking.
     
    BigHossVolvo, Jul 8, 2019
    BigHossVolvo, Jul 8, 2019
    #9
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  12. Jul 9, 2019 #10
    Snoopycda

    Snoopycda Medium Load Member

    349
    682
    Jan 22, 2016
    Edmonton Ab.
    0
    I was an O/O for ten years, it will work out OK if you are the driver. If you hire someone to run the truck, there is not enough profit to justify the risk.
     
    Snoopycda, Jul 9, 2019
    Snoopycda, Jul 9, 2019
    #10
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