New to Trucking. Should I lease out trucks?

Not quite. Close, but not quite.

The national average turnover rate is 98%. The megas are all well north of 100%, but a lot of small fleets are well under that amount. We enjoy a turnover rate currently running about 34%... I wish I could say 0%, but our drivers aren't getting any younger and some folks just like to retire after being on the road (others don't, like our 82 y/o driver who refuses to go home and relax). Health issues of aging drivers never go away, either.

I believe the number is something like 50% quit within 90 days. That's huge... but its also a sign of how the megas treat inexperienced drivers. People are people, and most won't stick around if you treat them like cow chips. I mean, we even have a thread titled "Werner Driver CRAPS Himself!" The detailed description of that guy... who let him become a trainer in the first place? That's the face of the company to every new driver subjected to his truck for a few weeks, and I bet a majority of those placed with in quit in very short order. With "trainers" like that, of course 50% quit within 90 days.

As for the original post... someone said to go ahead and file bankruptcy already. Yup. Spot on. This is not a side-gig for cash, no matter what the me-toobs or insta-grannies say.

 

Where do people get the idea that there are fortunes to be made in trucking?
While a lot of people have made a lot of money in trucking, it’s not like you can just buy some trucks, run the load boards, and the cash just starts rolling in. It is far from all blue skies and rainbows.

As far as drivers go, I talked with a guy the other day that just quit a job where he managed 30 drivers. He said he would go to work at a daycare before he took that job back, the people are easier to deal with and way less whining.

 

With all the info already posted on the subject in this forum , why are there so many of these types of posts every week?

 

I don’t know. My grandfather was in the business, my father was in the business, so I grew up in it and have seen many highs and lows. So I’ve never been in a position of the outside looking in, I guess it looks a lot better on the outside.
I think one of the appeals is that people think that you don’t have to work at it. They think you just go out and buy and new truck that doesn’t break down, just find anybody that holds a cdl and can pass a drug test, and then just go to the load board and pick the gravy loads.

 

I would say I made the mistake of doing the same thing but a little different. A friend and I decided to start driving, I bit the bullet and after 18 years in construction quit and drove for a company for 3 months. He quit his job as a mechanic. Used some inherentance money to buy a truck, insurance, all the legal bs. Anyways long story short we both jumped in this truck and started coast to coast we did fine. All good right . 3 months later I bought my truck and we bought another trailer rather then rent. I now leased on to him. It's had its good times a real crappy moments. TBH the past few months have been hard not being paid on time two of three trucks we have broke down costing upwards of 10k just in parts and a week not moving just to put them back on the road. Now because of this and no real reserve, yes money is still coming in but just enough to cover things. But not fuel so we are limited to local runs which is barley scraping by. Anyways take it as you will the good the bad and the ugly. Me personally don't regret it but may be seeking employment for awhile to try build some funds back up

 

if you buy you truck now get you own authority first

 

Brilliant....

 

I just can’t fathom why anybody would think it would be a good business decision to just go out and buy trucks, throw somebody in the truck, and send them out into the wild blue yonder.

lots of businesses you can try and go bankrupt in. Trucking is one you can go bankrupt, have any future money you make taken away, and even wind up in jail.

 

Yea don't buy a truck and throw just anyone in it. I just went through something similar except I bought a truck leased it with me as driver. long story short it wasn't worth it. ended up working a local company job for 3 months, ruined our credit, and in the end had to get our (wife & I) own authority just to make ends meet. Now after the whole fiasco we have no reserves and pray every day the truck doesn't break down. thankfully it's an old truck that fairly simple to fix (DDEC 2) but at the end of the day one big mishap and back down the rabbit hole we go.

 

Just the thought of trying to get one good driver out of maybe 50, plus having a shop tell you that they can’t even look at your truck that is 1000-2000 miles from home for at least a month ought to scare anyone silly. Oh, your truck is also sitting under a load. That shop has you as a prisoner.