I want to lease my truck from SFI and run for a O/O company

Discussion in 'Ask An Owner Operator' started by visionarygvp, Jan 27, 2021.

  1. visionarygvp

    visionarygvp Light Load Member

    114
    68
    Mar 21, 2018
    Atlanta, GA
    0
    Mercer is a owner op company and they pay 75% of the line haul plus 1% insurance surcharge.
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Oscar the KW

    Oscar the KW Going Tarpless

    12,246
    28,113
    May 19, 2011
    0
    If you go with Mercer, or any company that I know of, you pay for the insurance on your truck, be it a lease or otherwise. You can get the insurance thru most carriers that you lease on to for a discounted rate, always check into getting it yourself outside the company to make sure you’re getting a good deal.

    I wouldn’t personally ever lease a truck, borrow the money and buy it on your own, or if you can pay cash for one.

    There’s money to be made owning a truck, if there wasn’t none of us would be doing it. I would expect your first year or two to clear $30-$50k. If you’re smarter than the average O/O you’ll do better than that. It takes time to learn what lanes work for you and which ones don’t.
     
  4. Judge

    Judge Road Train Member

    11,024
    70,587
    Mar 19, 2014
    Newport, Ar
    0
    I ran a 4 compartment with 4 different products varying Hazmats, 8 20’ hoses, 107 in the shade.
    I was stuck with that pos trailer a whole week, was so glad when I dropped it on Houston.
     
    Rugerfan and Cat sdp Thank this.
  5. Chr1s

    Chr1s Bobtail Member

    26
    32
    Jan 24, 2021
    0
    Doesn't equate to operating a business. I could go where I want sure, but it has absolutely nothing to do with making money or being an owner operator. If you ask your company to send you somewhere, they are likely going to do it if you are somebody they trust and are good at what you do. If not, then you should be asking yourself are you really prepared?

    Not much to do with starting your own business, unless you mean you want to run illegally and not have Helena in Safety calling you every other day. If so, then please go to another country and do that.

    You can finance and do the same thing. I think it's a good thought process that not many have. People treat their trucks like a grandparent treats their grandchildren. Not business savvy, but if it floats your boat sinking your money into it.

    You are only going to get this through certain programs with Ryder, Penske, etc. Not SFI. My Uncle does this, but he has dedicated customers and will lose business if he has down time for repairs. It's not worth it if you're doing OTR spot freight.

    It's certainly possible. I don't know how so many people on here act like it's so hard to make money. I lease onto a carrier, paying $800 a week for lease and insurance, averaging $1.38/mile after FSC, and my NET Gross for 2020 was $72K. And then there's others with paid off trucks making over $2/mile talking about how there's no money to be made. I think they have no control on their personal finances, and has little to do with the trucking industry.
     
    cdavis188, aztruckerr and visionarygvp Thank this.
  6. larry2903

    larry2903 Heavy Load Member

    786
    983
    Oct 18, 2009
    On the trails
    0
    You’re asking some good questions, but I think few on this forum have leased from SFI to take the truck somewhere else. I have talked to an o/o leased on to the same company I’m leased to and he spoke pretty well of the experience. He was doing it for 2 years because he wanted to try out a Cascadia before purchasing one. His payments were not out of line with a purchase considering he had a full maintenance program with the lease also. I do know his payment was not $1100 a week, but it was not his first truck nor the first time he had leased one from them, he leased his first truck from them to get a start just like you are thinking about doing. I do not know him well, so take everything I’m saying as second hand information, maybe trust worthy, maybe not.

    If they say they’ll put you in a loaner if yours goes down, it’s in writing in the contract you sign then no it’s not a lie.

    Before you even consider leasing or buying a truck, do your home work and find your carrier first, ask lots of questions from carriers themselves about middle of the fleet income and expected fees to the carrier and do the math yourself. Then look at the trucks.
     
    Bigtruck860 and visionarygvp Thank this.
  7. visionarygvp

    visionarygvp Light Load Member

    114
    68
    Mar 21, 2018
    Atlanta, GA
    0
    Thank you. Also what is middle of the fleet income?
     
  8. drive-away2020

    drive-away2020 Light Load Member

    68
    260
    Aug 17, 2020
    0
    Guys who do that type of operation you mention @visionarygvp usually lease their truck from like Ryder or Penske. But you just got to sit down and do the math on it!

    if you’re just looking at the ease of maintenance, then you may be better off saving your money and looking for a nice pre-emission motor truck and paying cash for it. Would you believe the truck that I make all my money in, I paid only $10k for? I’ve had this truck for over 4 years now. I sold my newer truck and kept this one (a 2000 model).

    that’s true freedom of time! I drove only 5,500 miles in quarter 4 of 2020. And I’m on track to head back out in late Feb or early March, essentially talking the whole winter off. My truck pays for itself almost literally every time I go out. I’m not worried about getting loaner trucks and all of that per say. I do have an account with Ryder to rent a truck if I need to ever repower myself, I’ve never had to use them. My overhead costs of doing business is so low, that 3 weeks of doing loads buys me about 3 months off while still breaking even.

    I have my own authority, but yeah an operation like Mercer or Landstar is a great place to start. I started off at Landstar when I was 23. I’m 30 now.
     
    Vampire and visionarygvp Thank this.
  9. GreenPete359

    GreenPete359 Road Train Member

    2,137
    5,062
    Oct 21, 2017
    Driving my recliner
    0
    when i was leased up, the carrier would rent a truck for you to run while yours was down. $700/wk plus $0.19/mi. That was about 5 years ago and they went thru National Lease.

    As was said, the rental truck hurts!
     
    Vampire and visionarygvp Thank this.
  10. larry2903

    larry2903 Heavy Load Member

    786
    983
    Oct 18, 2009
    On the trails
    0
    When you call a fleet recruiter and talk about income they like to tell you about the top money guy, as about the average income.
     
    Vampire and visionarygvp Thank this.
  11. visionarygvp

    visionarygvp Light Load Member

    114
    68
    Mar 21, 2018
    Atlanta, GA
    0
    That’s really good to hear. Initially I wanted to save up and buy a pre-emissions truck cash, but my cousin and a few of her trucker buddies somehow convinced me that older trucks tend to have more maintenance issues and I wouldn’t want to be broken down and not make money. If you don’t mind me asking what are some good pre-emissions trucks I should be looking into purchasing? I think I will go ahead and do that, after I lease at least a year or so. I want to build my business credit since I have none, and was told that leasing is a great way to start building that. Unless of course there’s another way.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.