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Starting a New Company - Lease / Purchase / Rent?

Discussion in 'Lease Purchase Trucking Forum' started by LastMileOps, Jan 6, 2022.

  1. Jan 6, 2022 #1
    LastMileOps

    LastMileOps Bobtail Member

    1
    0
    Jan 6, 2022
    0
    Pros -

    We have several other businesses in similar space but have not yet tackled over the road. We want to start a new company to handle this new activity but are encountering the requirement of 3 years history for a lease option (Penske). This would be our preferable way to go, but trying to figure out how to meet requirements but also properly separate liability (hence the new company).

    What is the best bet here? Buy one? We really don't want to have to do that. Could we lease one with our company that has a history and credit and ultimately rent to the new co?

    What do you guys recommend?

    Daniel
     
    LastMileOps, Jan 6, 2022
    LastMileOps, Jan 6, 2022
    #1
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  3. Feb 19, 2022 #2
    Judge

    Judge Road Train Member

    11,175
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    Mar 19, 2014
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    May look into a division/subsidiary/wholly owned subsidiary.
    Can then lease a truck under “New Company” a division of “Old Company 1.”
    But check with accountant if you want to lease, but that’d waive the 3 year in business wait for Penske
     
    Judge, Feb 19, 2022
    Judge, Feb 19, 2022
    #2
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