How to rent out a truck?

something you also need to understand. You can be taken to court if that driver get's into an accident, too. There was a company that rented trucks to a larger company that was put out of business due to a nuclear verdict. So is the potential income worth the potential risk?

 

I dont get down to Texas much, but OOIDA and NASTC can probably offer a lot of guidance.

 

This is the best answer.

Put one of those fifth wheel wrecker lift things on it and charge big $$ to tow in broken trucks.

wait till you get the insurance quote.
After you’ve been revived with smelling salts , let us know what it costs.

If you do decide to go through with renting the truck, put the title of the truck in a separate company name than your shop. So when you get sued because the renter crashes it , it won’t affect your shop business.
talk to an accountant and a trucking business attorney about setting up the separate business entity’s for this .
Might be better to have a trust own the truck or and a LLC, or have a trust own the LLC or something.

It seems like you have a built
In customer base . So you’re good on that, you just need to figure out a way to manage the risk . And you’re gonna need a trucking attorney and a trucking accountant for that.

the insurance is going to Probabaly be the deal killer.


The business I used to work for leased vehicles from Donlen, and Donlen is a trust. Because that’s how the vehicles were always titled.
Learned this at the dealership when it was getting serviced and I was wondering if they were ever gonna get done with the oil change and someone walks over and asks “are you Mr Trust? Mr Donlen Trust ? Your vehicle is ready.”

they had Probabaly announced it over the PA system a dozen times .

you could Probabaly clean up and service the truck and Re sell it for a nice profit, but the guy that sold it to you cheap will be upset when he’s sees the for sale price.

 

You start with your insurance company to see if they allow it or what policy you will need, this is going to be the biggest expense you will face because of the multiple liabilities.

 

That’s probably because all those of us that own our truck wouldn’t let our best friend take it up the road so we have no idea.

 

OK letting people that you have their truck in your shop use it to del. their produce load or loads that del. inside tx. is a different deal than renting it out to just any one off the street, I worked at a shop that had a truck like that and when drivers had to call a wrecker we could pull their loaded trailer back to the shop and tow truck could pull the truck from rear and not have to pull axles out, But this was some time ago when you could trip lease loads and we must have had 30 signs from diff. co. under the bunk?

 

That’s not what you asked in the post.

you asked about renting out a truck.
We all figured it was gonna be like Ryder or Penske . And if they’re are any of those around you might want to talk to them and see if you could work out a referral agreement where your customers get a discount or something.

It probabaly would be useful for your customers if you had a truck available but you need to talk to a trucking attorney to figure out how to manage the huge huge risk. The rental truck will need to be in a different company name or something to insulate your shop business from the ambulance chasers .
Getting your own operating authority and all that is pretty straightforward .

 

If I were you I'd look into COOP. Its a new platform where you can do exactly what your asking. Kind of like AirBNB for commercial vehicles. Its called COOP by Ryder.