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What are the different options for getting a truck when you start off?

Discussion in 'Questions From New Drivers' started by Horizons-A-comin, Jul 18, 2020.

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  1. Jul 18, 2020 #1
    Horizons-A-comin

    Horizons-A-comin Bobtail Member

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    What are the different options of getting a truck when you first start off and can you explain them? I wrote this question on a different forum and I was given an answer but I’m still confused. So what I mean by different “options”, lets say I get a job at a company and they say “ok you have option A, B, or C” option A being like leasing/buying where I guess you pay a monthly amount until you one day finally pay off the truck and own it for yourself correct? I heard from various people to not do this, at least when starting off. But I still don’t know what are the other options. Is there like an option to just “rent” your truck indefinitely? Someone also said you can be a company driver, what is that? So how many different “options” are there?
     
    Horizons-A-comin, Jul 18, 2020
    Horizons-A-comin, Jul 18, 2020
    #1
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  3. Jul 18, 2020 #2
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Hello and welcome to TTR ! Option 1, company driver. You drive truck and get paid mileage to do so. No $$$ required from you. Option 2, lease purchase. No $$$ out of pocket but all monies for truck operation come from you and your income. Including truck payment, insurance registration etc. The bad thing about this is the truck company dictates the price of the truck, the weekly payments, and also does the bookeeping part so they have complete control of you and your truck. Notice I said weekly payment, not monthly payment. There are 52 weeks in a year and you will make the payment even when sitting at home for time off or truck is down for repairs. Option 3, Owner/Operator wher you buy your own truck separately from the truck co and lease it on to the co, or, run "lone wolf" as we use to say and find your own freight etc. Good luck to you.....
     
    Allow Me., Jul 18, 2020
    Allow Me., Jul 18, 2020
    #2
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  4. Jul 18, 2020 #3
    Horizons-A-comin

    Horizons-A-comin Bobtail Member

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    So I just want to make sure I understand this, for the lease purchase, no $ out of pocket but all monies for truck operation come from you and your income. So does that mean instead of I don't know "manually" paying for any costs, they will just subtract any costs from my paycheck, is that correct? Also, I think I want to follow the suggestions of others and probably stay away from lease/purchase when I first start off and go with option 1 (company driver), will most if not all offer that option or are there some companies that will force you to lease/purchase? Thank you, I appreciate your help.
     
    Horizons-A-comin, Jul 18, 2020
    Horizons-A-comin, Jul 18, 2020
    #3
  5. Jul 18, 2020 #4
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Yes, If you lease purchase, as I said, the truck co will do all bookeeping which means they will take payments from your check . And then give you the rest (if there is any) Yeah do co driver, no $$$ needed from your pocket. And no commitment. You can walk away anytime. Also lease purchase hardly ever require any down pymt. But your first weekly pymt will come due hardly before you crank out any big miles ! So you will start in the hole and that's not a good thing.
     
    Allow Me., Jul 18, 2020
    Allow Me., Jul 18, 2020
    #4
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  7. Jul 18, 2020 #5
    Redtwin

    Redtwin Road Train Member

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    Some companies will try to entice you into doing a lease. Just say no and be prepared to leave if they try pulling a stunt like saying they have no company trucks available.

    When you are ready to start with a company, post up here and there are many drivers who can steer you in the right direction and warn you about companies to avoid.
     
    Redtwin, Jul 18, 2020
    Redtwin, Jul 18, 2020
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  8. Jul 18, 2020 #6
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Most co's will try to entice you to lease purchase. I've heard of ones that put you in a motel waiting for a truck if you want co driver, but can get you on the road if you do lease purchase
     
    Allow Me., Jul 18, 2020
    Allow Me., Jul 18, 2020
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    Rideandrepair Thanks this.
  9. Jul 18, 2020 #7
    Horizons-A-comin

    Horizons-A-comin Bobtail Member

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    Ok thank you for clarifying that, yeah I definitely don't want to start in the hole right off the bat.
     
    Horizons-A-comin, Jul 18, 2020
    Horizons-A-comin, Jul 18, 2020
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  10. Jul 18, 2020 #8
    Horizons-A-comin

    Horizons-A-comin Bobtail Member

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    Is there nothing in writing that says they are not allowed to do that, especially the type of example that user "Allow Me" said about the motel situation. Like, that is really really messed up. Will do, I am currently trying to go to local trucking companies with "decent" reputations to see if any of them do "paid" training as I'd prefer that option maybe over having to go to my local school considering that if I go that route I most likely will have to take out a student loan which I don't want to do if I can avoid it.
     
    Horizons-A-comin, Jul 18, 2020
    Horizons-A-comin, Jul 18, 2020
    #8
    James j and Rideandrepair Thank this.
  11. Jul 18, 2020 #9
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    There are co's like Swift, CRST, CR England and others that will train you for your license but you have to sign a contract to work there for a year. Or go to school and you pay $$$ for your learning. Be ready for a roller coaster ride getting into the biz.
     
    Allow Me., Jul 18, 2020
    Allow Me., Jul 18, 2020
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    Rideandrepair Thanks this.
  12. Jul 18, 2020 #10
    TripleSix

    TripleSix God of Roads

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    It means that before you see any money, any money at all, the truck has to make a certain amount to cover the costs and the maintenance.

    That doesn't sound too bad, does it? Actually, it doesn't ONLY during the best case scenario. It will take you on your A game to make your weekly expenses and draw the exact same paycheck that a company driver makes. Something bad happens, like slow freight, or you go home, or some major holiday, you don't see a paycheck. Period. You start every week off trying to dig yourself out of a hole before you will have any income. Read what @Allow Me. said carefully. Proceed with caution.
     
    TripleSix, Jul 18, 2020
    TripleSix, Jul 18, 2020
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    Lumper Humper, Rideandrepair, AModelCat and 3 others Thank this.
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