From Company to IC

Ibwould recomend buying a truck on your own. Those smart start payments are high and you dont get to.inspect trucks they just give it to you and its your baby. Least thats my understanding. Besides its just good practice to not have all your eggs in one basket if ya know what i means

 

I agree with Companyman. I looked into it briefly, and just based upon my search I came to the same conclusion.

 

I would also say thet you should get a couple more years experience before doing either.......I'm not saying you can't make it but the majority of driver's can't with that little experience...

 

Well i know a couple lease operator's for Schneider and they say they're happy and make good money. They like the program Schneider has and say it's meant to help a driver actually succeed as an O/O

 

but it was a Truck driver who told me this so take it for what it's worth ........LOL LOL

 

There are many small things to consider with leasing or owning, but the two biggest are these:

1. The weight of your right foot. Keep that under control and you'll go a long way to profitability.
2. The "freedom" to take time off if you want, as much as you want. The bad thing is that freedom isn't free -- "the bank" still wants their weekly payment, whether you've made any money or not.

It is well known that small business owners work a whole lot harder and longer hours than any employee does and there are no guarantees of success. Owning or leasing a truck is being a small business 'owner,' even if there's no pink slip at the end of the journey.

 

So, with the Smart Start thing, the truck is yours or is it just a lease? How much are the payments normally?

 

My understanding is it's just a lease but the truck depreciates and at end of lease you can buy it for a set amount or you can re lease it and depreciate it even more then buy it. The lease payments are 100% tax deductible as are maintenance and fuel.