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Are trucking companies allowed to charge an owner operator a markup on Tags?

Discussion in 'Questions From New Drivers' started by Doublewide, Oct 30, 2012.

  1. Oct 30, 2012 #1
    Doublewide

    Doublewide Bobtail Member

    6
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    Oct 25, 2012
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    I had heard that it is illegal for trucking companies to make a profit on Tags. They can buy them for you and charge you lump sum or installments on your settlement but cannot add in a mark-up or profit. Does anyone know if this is true?
     
    Doublewide, Oct 30, 2012
    Doublewide, Oct 30, 2012
    #1
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  3. Oct 30, 2012 #2
    ralph

    ralph Road Train Member

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    What does your contract state?
     
    ralph, Oct 30, 2012
    ralph, Oct 30, 2012
    #2
    FozzyNOK Thanks this.
  4. Oct 30, 2012 #3
    snowwy

    snowwy Road Train Member

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    did you see the actual cost?
     
    snowwy, Oct 30, 2012
    snowwy, Oct 30, 2012
    #3
  5. Oct 30, 2012 #4
    Doublewide

    Doublewide Bobtail Member

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    Oct 25, 2012
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    I know the cost is $936 per year, and they want to charge me $50 per week.
     
    Doublewide, Oct 30, 2012
    Doublewide, Oct 30, 2012
    #4
  7. Oct 30, 2012 #5
    ralph

    ralph Road Train Member

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    Then write the check and be done with it!
     
    ralph, Oct 30, 2012
    ralph, Oct 30, 2012
    #5
  8. Oct 30, 2012 #6
    WorldofTransportation

    WorldofTransportation Heavy Load Member

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    Sep 20, 2009
    Your mother
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    They aren't making a profit.. They are paying the person who is responsible for getting the tags.. An Admin fee is not a profit. We went through this before at a place I was leased on to.. Good luck
     
    WorldofTransportation, Oct 30, 2012
    WorldofTransportation, Oct 30, 2012
    #6
  9. Oct 30, 2012 #7
    Calspring

    Calspring Light Load Member

    290
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    Jun 22, 2012
    Canada
    0
    Is that only for your tags or does it include insurance as well. Are they going to charge you $50 for all 52 weeks or just until it is paid off. I could understand them charging interest as they are loaning you the money. For my insurance as a new company it is 9% however it works its way down every year with a clean payment history (next year I will be able to pay it outright).
    You would be better off to buy to take a cash advance on your credit card then to pay that rate (270% interest if its $2600 ($50 for 52 weeks)). Never take a cash advance on a CC though.

    On a side note you have very low plate fees. For my trucks its $3000 each to haul up to 63.5 MT
     
    Calspring, Oct 30, 2012
    Calspring, Oct 30, 2012
    #7
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