Authority?

Discussion in 'Ask An Owner Operator' started by mesamale22, Jan 23, 2013.

  1. mesamale22

    mesamale22 Bobtail Member

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    Jan 23, 2013
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    I am trying to get financed for my first trucks. However the bank will only do it if i setup my own authority. But I have a special circumstance. I will be working in Afghanistan and my friend was going run and operate my trucks for me in TX. Is it possible to setup my own authority, but have my trucks run under his while I am still working in Afghan?

    thanks.
     
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  3. ralph

    ralph Road Train Member

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    IF the bank says you have to have your own authority then.....

    Have someone else get your authority on your behalf, it's done every day.
     
  4. MNdriver

    MNdriver Road Train Member

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    I would suggest you put your pennies into a savings account and wait till you get home.

    If you must invest it, invest it in silver.
     
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  5. jbatmick

    jbatmick Road Train Member

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    Recipe for loosing a friend and a lot of money.
     
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  6. Marlin46

    Marlin46 Medium Load Member

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    Have your friend go to the bank with you and a copy of his authority and explain this in a business plan which you should have already written up. As for being on the other side of the world while your "friend" runs your truck(s) make sure you have a very firm "contract" as to who takes care of what / when / and who is paying for what before remotely thinking this is a good idea. If the idea is buy one or two used trucks and add them to your friends fleet and hope it makes money all the while he would be depositing the profits in your account I would be 200% sure you know what you are getting into. As others said, save your money, invest in silver, or do 90 other things with other than what your thinking.

    If your still sure you want to do it then convince the bank it is going under your friends authority and that your friend would also be willing to sign onto the note. At least then the friend is on the hook for making this work and has some risk involved.
     
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