Buying a company???

The mpg is the killer. Yeah the guy wants to get out from under it, he's not making money with those numbers.

Have you priced insurance? The reason companies won't touch you is insurance costs.

So now you have high fuel costs, high insurance, factoring, - you are likely $.30/mile higher than your competition.

 

Todays ''rates'' and all the INS and so on and so fourth.Then add in 5.1 MPG to the mix...RUNNNNNNNNNNNN

 

This may be true, but they often take a discount if you elect to be paid in 48 hours. This discount can in many cases be MUCH higher than factoring fees. Just saying...

 

If you're considering factoring, keep in mind that some factors require you to sell them all your invoices from all creditworthy customers. Others, like me, will allow you to sell all invoices from selected customers. The downside of the second, more flexible option is that pricing is usually higher and many factors will want minimum monthly volumes...say $10,000 per month. Ask about credit insurance, fees for wire transfers, duration of the contract, set-up fees. The best advice I can offer is to get referrals from other carriers on which is the best factoring company. Don't only focus on rates because quality of service is very important....lots of horror stories out there. Quick pay is an option to explore, but I can usually beat Quick pay rates with my eyes shut.

Not sure if factoring can help if you don't own the truck and authorities in your name or in the name of a corporation under your control.