Advice on Selling my 2018 Freightliner box truck.

I'm operating now under my own Authority howver when I get back home after this long trip i need to make a decision. Whether or not I'm operate on my own or just sign on with a credible carrier that allegedly has 80% contracts but only uses the load boards for backhauls. Its difficult because a broker wants me to contact them as well for a steady Montreal lane for mid Feb. To March possibly turning into a Longevity run. The thing is us Canadians are getting punished and are in limbo because 80% of Exports from Canada goes to the American market whiles kess than 20% comes into Canada. I have to make a decision soon because February is almost here. It also does help that Amazon will probably be pulling out of Quebec because of unionized talks because that was my back haul loads now gone!

 

The broker will drop you like a hot potato the minute he finds someone running it cheaper. They're about making money. The whole, "have to build broker relationships" line that gets tossed around here on the forum should be taken with a grain of salt.

If you don't believe me, have that broker commit to your arrangement with him in writing that states exactly what kind of volume and/or minimum amount of work he's going to throw your way. I bet he'll never agree to it.

 

Ignore that guy. He's in utter denial that authorities can be sold while keeping the DOT intact. He's never done it and it's obvious. I have and if there's anything I can do to help you do it (if you decide to) feel free to reach out.

 

Oh, I believe that. He already showed sometime'ish ways by droping me when mentioned my Authroity limited but I assume needs some small carriers so I'm going to watch and out. Regardless, I have a few things going ao i just have to see what fits my situation best.

The problem with leasing onto another carrier again is the control factors most posses regarding what loads get, saying they pay thia much per mile (on the advertisement) then conning you into accepting 70% to 80% with q fabricated rate con sheet they doctored. Its a mental challenge I tried off and seems to never stop. I've been through 5 in less than 2.5 years and one of them I would of stayer with and they were really good but lost big car part contacts by other carrierw who undercut them for a lower rate. Its a very discouraging business in these unceratin times. Especially when you're trying to stay profitable.

 

Understood. Just a word to the wise because there is no loyalty in business when everyone worships the almighty dollar.

If the carrier has 80 percent contracted freight they should easily be able to put all the money details in writing for you before you sign anything.

If you're hauling spot freight to get back to your carrier's customer than make sure the carrier CCs you on all email communications especially when the rate con is sent back signed. Just get things like that in writing to protect yourself

Your intuition is already telling you something. Don't ignore your primal instincts. Trucking is a scummy business full of dirtbags from all sides. If you don't approach it like that everyonewill screw you any way they can.

 

Yes, problem is most carriers customers simply sign the paperwork and the O/o scans it on via Scancode emailing directly to their dispatch. I alway have my copies but they can still manipulate the rate cons by not relinquishing the rate con sheets. Ive been in this business for 30 years and my 2nd tine as a O/o and the original reason from it in the 90's is because I lost big timr with a Broker who simply disappeared. I should of learnt then it was a lesson to not enter it again. However, I did now its an even worse ecomony now oppose to then and then shark tank is that much bigger.

 

If you're getting what makes you happy and have that arrangement in writing it does not matter. What's between the broker and the carrier is their business. Just control what you can and forget about the rest. If you can't get a situation that makes you happy then don't do it. You already know the rest.

 

I had a deal to sell mine. The deal was to sell the company. Authority and insurance policy went with it. The plan was to try and get away with a simple address change on the policy. I believe there’s a market for older mc numbers. As far as the dot number staying the same or not isn’t clear to me. I backed out after the buyer started acting rude and disrespectful. Started out as a favor to a couple O/O’s I’ve known for years. Price was $5k for my 20 year old MC. They were tight on cash. 3rd unknown A hole entered the picture. Told him to F off, gave him his deposit back. I hear stories about $20-$30k deals. That would be real nice. Another $30k for my equipment. Goodbye Trucking, hello fishing.

 

They did you a favor because you were getting low balled hard. Make sure everything is under an LLC that has its own EIN. Insurance, authority and LLC must all be under an LLC or corporation. Cannot be sole proprietor.

If you're a SP now then set up an LLC through your state and then tell the FMCSA of the change. Once that's done you can update your insurance to the LLC.

I'd wait a year after all that so you don't get hit with capital gains taxes when you sell the LLC/MC/DOT.