Should I lease onto this guy for 80%

I can not believe you actually being offered this deal. I would never let anybody book loads under my MC, left alone some newb with 3 months driving experience and absolutely no knowledge of rates/lanes/negotiations e. t. c. Left alone some unknown used truck you bought for $20k, which can break down anytime under a load, or put out of service.

 

I mean for OP is a good deal, go and do it at least until you get 12 months verified experience. My statement was about that MC owner, how he is not afraid to mess it up

 

You get paid a percentage of the rate on their contract stuff. Over time, you learn what pays and what doesn’t. You don’t have to go where they tell you. You can tell them up front what you’re looking for, and if they’re any good, can do that most of the time.
I also don’t know what you’re planning on pulling. If it’s a general freight type, flatbed, van, reefer, leasing onto a carrier is a good first step.
At this point, you know how to drive. Anyone can drive a truck, it’s not that hard, you have no business experience or knowledge of freight lanes and rates. When you are running a business, there’s more to it than driving.
If you’re basing your decisions off numbers from other people, I suggest searching for the “true cost of trucking.” It’s an annual survey of hundreds of fleets and is a good picture of the average cost per mile.
I think we need more owner operators but you need to do it the right way. You have to want to be in business. Don’t get into it just because you see people posting or talking about all the money they’re making. The past couple years were great and made a lot of people greedy and many of them will probably not be around by the end of the year. Rates are cyclical, you have to know how to run a business if you want to stay around.

 

MAG wont touch him, if you dont have atleast 5 yrs cdl experience and or 2 yrs of just otr. Their cargo insurance wont touch you

 

Who pays for the tires on HIS trailer if you rent it ?
What if one pops?
If it needs brakes.. electrical work.. annual inspection.. an air bag replaced??

Does your rental fee cover that, or are you on the hook?
That 80% takes a whopping nosedive after fuel, repairs, insurance, escrow, etc.

Something to think about before you jump in.

 

$200 a week for a trailer is kinda steep I think. You can own a trailer for less.