Business Related services such as factoring when hauling cars?

Discussion in 'Car Hauler and Auto Carrier Trucking Forum' started by Baby T, Apr 20, 2021.

  1. Baby T

    Baby T Bobtail Member

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    Mar 8, 2021
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    Baby T : here I have a question for any Auto Transport owner operator or fleet owner. How often will a Auto carrier have to deal with a factoring company to get paid. I guess a better way to asks this question is regardless of the size of your fleet is there ever a time that a Auto Transport company owner will need the services of a factoring company to get paid? Looking forward to hearing back from anyone
     
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  3. GYPSY65

    GYPSY65 Medium Load Member

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    Nov 16, 2012
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    I used to haul cars for several years before flatbed and I personally never took a check from any dealer except a few big ones like BMW Mercedes etc that I knew would be good but they were always COD either way
    Companies like RAT or Reliable and a few other large outfits would send payment

    But I would say 80% was cash cod from either smaller dealers and especially private customers

    I actually would have dealers that were along my route who would put my $ in an envelope and leave it somewhere if I were going through after hours so I would t have to stay overnight
    We would fax them the BOL and inspection report and get it signed by them before we dropped any cars

    I would pull in. Get my $$ and drop the cars
    Only once did I have a company ( Steve’s trucking or something like that ) try and say they paid me for a full load of BMWs that went to a dealer so I called the dealer and said I wasn’t paid, dealer sent me a check and said he would deal with his transporter
    And only once a private move didn’t have the $ to pay and I knew this before I went to their drop site so I dropped the car at a self storage lot and told the broker they would get the location once I was paid

    Again, they paid for the run, storage, and any other fees I had
     
    Doealex Thanks this.
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