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Lease Holding company for your trucks,

Discussion in 'Ask An Owner Operator' started by BreadMan314, May 10, 2021.

  1. May 10, 2021 #1
    BreadMan314

    BreadMan314 Bobtail Member

    1
    0
    Jul 10, 2020
    0
    I am currently trying to finance a truck under my current LLC that is established for 4 years. And I want to then sub-lease it to a different LLC I just started with a different EIN.

    Does anybody know of insurance companies that will allow this? I’ve ran into a lot so far that only want one LLC listed on policy.

    Or any advice on how to go about this situation. I appreciate and thankful for any feedback.
     
    BreadMan314, May 10, 2021
    BreadMan314, May 10, 2021
    #1
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  3. May 10, 2021 #2
    Ridgeline

    Ridgeline Road Train Member

    20,737
    101,050
    Dec 18, 2011
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    Get a lawyer.
     
    Ridgeline, May 10, 2021
    Ridgeline, May 10, 2021
    #2
  4. May 10, 2021 #3
    slow.rider

    slow.rider Road Train Member

    2,005
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    Apr 4, 2017
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    There's a guy on YouTube who uses a holding company for his trucks, but I'm not sure if he's financed them while leasing them to himself, or if he just paid cash up front. His channel is called StillHawginTV.
     
    slow.rider, May 10, 2021
    slow.rider, May 10, 2021
    #3
  5. May 10, 2021 #4
    GreenPete359

    GreenPete359 Road Train Member

    2,137
    5,062
    Oct 21, 2017
    Driving my recliner
    0
    It’s done. I know of a hand full of company’s that do this. Bill’s trucking Inc is the mother company, but Bill’s fleet services & garage Inc owns all the trucks. Bill’s trucking owns none.

    It’s a way of protecting assets, it’s worthless to sue a company that has nothing.

    A perfect example is F&S Farms. They own Pipco Transportation. That’s their trucking company. The farm owns no trucks.
     
    GreenPete359, May 10, 2021
    GreenPete359, May 10, 2021
    #4
    slow.rider Thanks this.
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