Owner Operators

Discussion in 'Ask An Owner Operator' started by Solo Soul, Sep 14, 2021.

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  1. Sep 14, 2021 #1
    Solo Soul

    Solo Soul Medium Load Member

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    You may have gross of over $200,000. SBA will give you a ridiculous amount of money. Why don't you take their money, pay cash for a truck, and lease it to other drivers?
     
    Solo Soul, Sep 14, 2021
    Solo Soul, Sep 14, 2021
    #1
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  3. Sep 14, 2021 #2
    bad-luck

    bad-luck Road Train Member

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    Baltimore, Maryland
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    Some people prefer to save their own money, and not take a hand out.
     
    bad-luck, Sep 14, 2021
    bad-luck, Sep 14, 2021
    #2
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  4. Sep 14, 2021 #3
    REO6205

    REO6205 Road Train Member

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    Where do you think that money comes from? Does is just fall from the sky? Us good and long suffering tax payers are the source of that money.
    We'd appreciate it if you quit looking at it as a gift and figured out how to pay us back.
     
    REO6205, Sep 14, 2021
    REO6205, Sep 14, 2021
    #3
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  5. Sep 14, 2021 #4
    Solo Soul

    Solo Soul Medium Load Member

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    It is a loan, obviously I will have to pay them back. But the interest will be a tax write-off for me, that's what my accountant told me. But I will pay the whole loan amount back. Actually they were giving me $150,000, I only kept $70,000 and gave them back the rest. It is not a government handout, it is just a loan that I will pay back. I will be doing 3 X payments every month. Payments will be due August next year, but I started paying now.
     
    Solo Soul, Sep 14, 2021
    Solo Soul, Sep 14, 2021
    #4
  7. Sep 14, 2021 #5
    roundhouse

    roundhouse Road Train Member

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    You’re gonna lose your shirt borrowing money to buy a truck and lease the truck to a driver who has no savings and such poor credit he can’t get his own loan.

    Don’t say we didn’t warn ya.

    when the driver you lease it to blows the engine and abandons the truck , whose gonna pay for the repairs and insurance and payments while it’s in the shop for three months ?
     
    roundhouse, Sep 14, 2021
    roundhouse, Sep 14, 2021
    #5
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  8. Sep 14, 2021 #6
    jamespmack

    jamespmack Road Train Member

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    Normally my credit union has better term and rates.
     
    jamespmack, Sep 14, 2021
    jamespmack, Sep 14, 2021
    #6
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  9. Sep 14, 2021 #7
    JoeyJunk

    JoeyJunk Road Train Member

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    He already had a thread going over this. Guess the advice and wisdom didn’t sink in.
     
    JoeyJunk, Sep 14, 2021
    JoeyJunk, Sep 14, 2021
    #7
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  10. Sep 14, 2021 #8
    abyliks

    abyliks Road Train Member

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    ludlow MA
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    it’s free, duh…
     
    abyliks, Sep 14, 2021
    abyliks, Sep 14, 2021
    #8
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  11. Sep 14, 2021 #9
    abyliks

    abyliks Road Train Member

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    Sounds great op go for it, all you have to do is get $1 a mile and drive a million miles and you will be a millionaire….
     
    abyliks, Sep 14, 2021
    abyliks, Sep 14, 2021
    #9
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  12. Sep 14, 2021 #10
    jamespmack

    jamespmack Road Train Member

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    OH
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    You will make up for it on volume.
     
    jamespmack, Sep 14, 2021
    jamespmack, Sep 14, 2021
    #10
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