So you own your own truck.. what now?

Yes we can answer those questions for you. But please be aware that if your asking these questions then your gonna have a really hard time answering your first question. Where is the money at?

Leasing on to a company means that you own the equipment but use there Mc and Dot numbers. They take a percentage of work that you do because your operating under their rights. They supply freight and services for a percentage of your earnings.

Lease purchase is an extension of what's above. They own the equipment but you are in the process of buying the equipment from them as you work for them.

Owning your equipment and having your own authority is when you are the boss. You do everything, you keep the whole percentage. You book your own loads, you collect your own money.

Keep in mind I have simplified all these things and they are more complicated, but that is the gist of it. I'm sure others can elaborate.

 

Leased to a company and lease purchase are different in the sense that lease purchase you dont now own the truck. Lease to a company with a truck you own and you still own it.
Running your own authority is you truely running your business. Leasing a truck you own to a landstar or the like is using your equipment for their business as subcontractor.
Wheres the money? Depends on how well you do at making decisions.

 

The Money is in someone else's pocket!

 

See @double yellow's thread for a full write up on starting your own company.

See @blairandgretchen or @sawmill for their journey leasing on to Landstar.

All of your questions plus more will be answered.

 

With the current trucking market the money is really soft. Unless you have a bucket of money to carry yourself through until the market comes back...if it comes back...you would be better to let the used truck dealers hold onto those trucks. There are so many people who have bought trucks and found out the hard way that buying one and making money with one are two different things. Even big fleets are cutting their fleet sizes down because of the lack of decent paying freight in this market.

 

So you started a company and found some sucker to lend it the money at 0% in order to maybe earn more than a company driver will?

Or is it even sweeter, does the loan never need be repaid?