Buying truck and hiring a driver

If he had a very successful mechanic shop, why can he not get credit for the capitol expenses?
Trucking isn't really an industry you can start a business without also being a driver.

Also there is a reason "Never go into business with family." is not just a phrase.

 

Unless you've got direct hauls lined up, real estate would be a better investment. Have you looked into how much insurance is going to cost you? Also, going into business with family usually doesn't end well.

Question though, if your step dad had a very successful business, why are you guys funding this endeavor?

 

If your step-dad is a mechanic is he going to do all the work on the truck...after driving it all week?
A round trip from California to Florida and then wrenching on his day off sounds like a recipe for burnout.

 

Such a horrible idea, it's not even funny (speaking from the first hand experience).

 

I tried that exact same thing with three family members ,one I haven’t spoken to in five years he doesn’t like me anymore one avoids me and the other one we’re still working on that fence .I have the trucks and the loads but there’s just something different about working with family!
It could possibly work sure hope it does for your sake but more likely it’ll blow up!

 

What happens when the truck breaks on the road and you have to pay a shop to fix. Hotel, meals and other expenses.

 

There are always many many more nay sayers here than anything. (Sometimes its justifiable) In your case I say it could work or could blow up. I dont no you or your situation.
Your not making a very large investment. So if you can afford the worst case, and afford to lose your investment. Go for it but I'd strongly suggest rather than go the own authority, insurance route. You/he lease onto a 'self dispatch" pick your own freight/load company.

 

I do not own. Nor plan two. I just got a couple questions for you. They might sound like im being rough. But I'm a pretty real dude. So understand these questions are to help in your decision:

Do you plan on getting you own authority? If yes, Did you read thread titled numbers for newbies. If not is on the first page.
2) if you plan on leasing to a company. Will they let you. Dispatch your own truck. Meaning you plan on being a llc scorp. Or inc?
3) my self and others here are in investors in other things. For me its real estate. I bring in 467 a month and keep 85 of it. What else have you invested in.?
4) can you genuwinly. Put that money in the bank Un till tax time and still get tires?
5) why FloridA or was that just a example?
6) how long have you all been thinking about this?
7) monthly truck payment is due. And you driver needs time off? Do u have it?
8) do u have 6 to 8k after buying the truck to stay afloat for the first couple weeks.
I dont plan on buying a truck. But what you ask can be done. It can be done slow and right. Or fast manageable. But it can be done wrong faster. Like all the pros said. This is a huge risk. And seriously a lot to think about and research.
I wish you luck whatever you decide. But I wish you patience and understanding. When the pros are saying its not a good idea. It Problaly not.
Now for the positive. Buy the truck out right with cash. Some how. And you already ahead of the game. But. Get something with resale value. Just in case. Oh can we see your business plan? Not being funny I love to read those

 

These new emissions trucks need computers to fix them. It takes like 5 computers to run the truck. Someone need the computers to read the codes to even get started. Remember emissions trucks started back in 2002 and those were a mess to keep running. You need something like 2015 and newer to avoid all the troubles that been working to fix.

 

Forget the idea. Just forget it.

Right now rates are depressed, there are more trucks coming onto the market from failed attempts where the people were better equipped.

If he has knowledge of this industry, let him find his own capital and make his own way.