Lease Op question

If you want to take a look at my thread called my lease adventure on here I share my numbers. That will give you a good idea of what your in for LOL.

 

You can very easily buy a truck conventionally as sole proprietor. Getting a brand new truck was easier than a NASTC fuel card.

 

The carrier I lease with requires an EIN, but you don't need a LLC if you don't want one.

Leasing isn't going to build business credit. They don't report your payments to anybody. You will need a LLC or other business entity, a business address, business phone number, and your business searchable online with a website, Google Maps, Yelp, etc. to even establish a business credit file. You would have to set up credit accounts with vendors and pay on time. You can find NET 30 vendors for office and general supplies pretty easily. Set up a fuel card as well and pay it on time.

 

Are we speaking of lease purchase or leasing on?

 

I never needed or fooled with any business credit lines.

I just had a personal
Credit card that I used only for the trucking expenses and never for personal expenses.
Makes the book keeping easier .

 

I found it was much less book work to start out with a bank acc. in my name and keep a book with all money going out and tic. stated where it went, co. that I was leased on at gave us 30% of our part of the money in a com. ck. and the load going out paid enough to pay for fuel and eats out and back, after dead heading to a broker load going back to as close to plant as they could find, I bought a used truck from the truck dealer in ATL. that had a Dino. in back of shop that had 1/2 a mill. miles on it that ran till I got it to 850,000 with 1 inj. and a clutch job was all I had to fix and it was my 1st truck with a ecm. on it, so my book keeper told me I was pay so much tax that I should get a S corp. started, and that change was a heck of a lot more paper work done to keep track of to write my self a pay ck. every week and pay the taxes every time it was due, but when I retire I will have a CK. from Uncle Sam every mo. instead of like some of friends that never pay taxes because of write off and thought it was good till they found out their retirement ck. will be 2 or 3 C/notes instead of 9 or 12 hundred I should be getting? But starting out simple with a ck. acc. in your name is muck easer?