Advice on Purchasing a Truck as a Non Operator

They assure you that it is the right decision because you are the money.
Since your are not the operator in this partnership, you can be fed all kinds of excuses as to why things go wrong, if they do. And most likely, you will be the only money at that point too.
Your money, you need to have 100% control what the truck does. So, if you do it, you'd be better off to hire a driver from the very get go which is still not say it is a good idea.

 

Drivers are a dime a dozen. You'll have no problem finding one that will happily run spot market freight for 60 cents per mile. You can also pay your "independent contractor" on a 1099 too. Think about how much you can save! Not to mention that equipment is stupid easy to find and priced very affordably right now as well. You're going to have a hard time finding new things to spend your riches on.

 

I'm seeing a lot of negativity. Let's try some optimistic thinking. 60c/mile for a someone that's about 2 years in the business is not average that's good pay. Most drivers at that point get 40-45c from the large companies. And it's unlikely that the truck will breakdown in the first few weeks. By then I would have built a cushion to absorb any costs from unforseen events.

 

Can I ask why you’re so eager to be the money behind an operation a bank won’t touch? Why do you see the risk so differently than people who evaluate risk for a living? What kind of benefits will you offer to attract an experienced driver when the time comes to hire one? How much will your insurance cost to put a driver on with limited experience?

 

How many holidays do you pay?

How many sick days, bereavement or leave do you pay?

How much do you contribute to their 401k?

How much of their health insurance do you pay?

What about Worker's Compensation?

How many weeks of vacation and how much?

You're exactly what a good driver doesn't need because they're already working at places that actually pay them well and accordingly.

 

You are so lucky that you have posted on TTR. Because, we have an expert on driver wages and what it takes ($$$) to get a driver to sign on with a Company. #Chinatown can you please educate this person as to where the instructions are to pore piss out of a boot because he seems not to understand the market rates for drivers much less ones with two years of experience.

 

I'll ring his bell @Chinatown

 

No problem at all paying a driver 1099, just up their rate to $1.10 mile though.

 

www.OOIDA.com is a business website for the owner-operator.

 

I note you didn't answer if it's a w2 or 1099 pay rate......