Can I re-lease a truck I am leasing to an O/O?

And when, not if, those major repairs come, I'm sure he has the money to pay for it.(LOL) Or just walk away. Either way that cost will be on you.

 

Sounds like he needs to be a company driver whether he wants to or not until he gets his debt situation straightened out. If you’re ok with no longer being friends with him then by all means forge ahead with your plan and stick your neck out. I can guarantee you two won’t be speaking anymore when this plan goes south.

 

no, you can't sublease a leased truck, and NO you can't do a lease-purchase with a sublease.

I don't know what you know about trucking, I assume not much but he can go to work as an employee or tell him to work at McDonalds, but do not take him on as a lease to your authority.

 

Tired of being a company driver, wants to be an owner operator but no money to buy one……Welp, I’m tired of not being a billionaire. It takes money to make it these days.A strong safety net. Until you have one, very high risk of failure. If the individual was dedicated he’d already have the money. Cause he doesn’t means he is not.

 

Of all the convoluted ways to lose money in this business this one here really takes the cake.

 

What gets me is how these people think leases are the best and cheapest way to go. It is clear that they don't get that a company like Penske or Ryder isn't going to give a thing away, like a tire or oil changes, they charge a lot more than if you owned the truck. Some of those who are marginal operators are the ones who pay the most when it comes to damage.

 

$3250 per month plus 25 cents per mile the truck is driven. Seems very expensive for that full service Penske lease. This is according to the company I drove for once that had almost nothing but full service leases with Penske. No wonder they were pissed off when guys wanted to be home every weekend. I would have been to.

 

At that price you could by a new truck and sell after 4 years and buy new for cheaper. It obviously makes sense to lease trucks for profit to anyone that will pay the bill.

 

As mentioned

this is a really really dumb idea .

when the engine or transmission blows and it costs $30k to repair it ,
Who is gonna pay for that ?

Hint : it won’t be him since he has bad credit and no money .

he’s just gonna call
You and tell you where the truck is broken down and walk away .


a driver with two years experience can make $90-100k a year as a company driver .
If

 

It just sounds like both of you are going to lose out in the end. Imagine cosigning a car note for someone with bad credit and unable to make ends meet...