Company asking for $2500 down payment to be on their insurance

Discussion in 'Ask An Owner Operator' started by Gtrucking, Jul 28, 2021.

  1. Gtrucking

    Gtrucking Bobtail Member

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    Nov 18, 2014
    High Point, NC
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    Hello i am buying my 1st truck and i want to lease on to this small company they will charge %20 on every load i am gona run they said they prefer for me to use their tags so they are asking for $1800 for the tags and $2500 downpayment to be added on there insurance all up front then about $410 a week for insurance and $150 a week for renting a trailer i dont know much about the prices yet so my question is are they asking too much for the insurance downpayment or prices they told me sound about right? And is it worth for me to lease on with them? Thank you and i will be a newbie owner operator so excuse me if i say something that dont make sense
     
    mdking555 Thanks this.
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  3. Aamcotrans

    Aamcotrans Heavy Load Member

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    That’s insane, run away from them.
     
  4. abyliks

    abyliks Road Train Member

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    What does the contract say?
     
  5. feldsforever

    feldsforever Road Train Member

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    New myself. But thats a lot of upfront and continuation money
     
    Gtrucking Thanks this.
  6. Gtrucking

    Gtrucking Bobtail Member

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    Nov 18, 2014
    High Point, NC
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    There is no contract yet just talked with em today
     
  7. Aamcotrans

    Aamcotrans Heavy Load Member

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    I have a 2021 cascadia , valued at 162k.
    I am in my first year and leased in to Landstar, I pay 700 a month for all insurance.
     
    Last edited: Jul 28, 2021
    Jarhed1964 and Gtrucking Thank this.
  8. Gtrucking

    Gtrucking Bobtail Member

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    Nov 18, 2014
    High Point, NC
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    Heck yeh not even out of the pay chack upfront is insane
     
  9. wichris

    wichris Road Train Member

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    So they want you to pay all the cost of leasing you on and paying their monthly costs, then charge 20% (80/20) on top? Sounds like a great deal (for them) LOL
     
  10. Midwest Trucker

    Midwest Trucker Road Train Member

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    Wow. That doesn’t seem right.
     
    bzinger and Gtrucking Thank this.
  11. wichris

    wichris Road Train Member

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    Lot of ones out there like that.
     
    Gtrucking Thanks this.
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