Are trucking companies allowed to charge an owner operator a markup on Tags?

I had heard that it is illegal for trucking companies to make a profit on Tags. They can buy them for you and charge you lump sum or installments on your settlement but cannot add in a mark-up or profit. Does anyone know if this is true?

 

What does your contract state?

 

did you see the actual cost?

 

I know the cost is $936 per year, and they want to charge me $50 per week.

 

Then write the check and be done with it!

 

They aren't making a profit.. They are paying the person who is responsible for getting the tags.. An Admin fee is not a profit. We went through this before at a place I was leased on to.. Good luck

 

Is that only for your tags or does it include insurance as well. Are they going to charge you $50 for all 52 weeks or just until it is paid off. I could understand them charging interest as they are loaning you the money. For my insurance as a new company it is 9% however it works its way down every year with a clean payment history (next year I will be able to pay it outright).
You would be better off to buy to take a cash advance on your credit card then to pay that rate (270% interest if its $2600 ($50 for 52 weeks)). Never take a cash advance on a CC though.

On a side note you have very low plate fees. For my trucks its $3000 each to haul up to 63.5 MT