If I lease on to a company, do I collect the load pay myself?

Stay away. Most important is getting your money. Too many dishonest Companies that try to make more money off the backs of Drivers. Oldest story in Trucking. Sickens Me.

 

If you already know the individual has a “reputation”, why even consider signing on with him? There is no shortage of outfits to sign on with that spell out in detail every nuance of the lease.

 

Are you driving now?

 

Remember also driver when you flease a truck you are not an o/o. Just a company driver paying the truck off for them. You will read a few success stories on here about leases. But very few.

 

Step one. Get a copy of the lease.
Step two. Take it to a trucking/contract lawyer.
Step three. Listen to the advice you just paid the lawyer for.

 

When I first read this comment I wanted to scream you're just being cynical. I then took a pause and gave it a lot of thought. Yesterday was the last day of my Covid isolation and I was thinking about your comment some last night! I have been in and around trucking going all the way back to the 60s hanging around my father who was a trucker. I thought about oh gosh close to 30 people that went the OO route! Of that 30 or so I can only remember about 6 or 7 that claimed to have made any real money. I also have another insight into this. I worked doing repo for a while some time ago. When you get into a tractor and watching wives and children cry as you remove their dreams, well, I could not do it anymore and I stopped! I don't care how well you have planned. Things can and often do change! You have a run of bad luck and----, It's gone! That's not me being cynical, it's me being honest!

 

I too have had friends that tried the flease route and several that became o/o’s. None that I can recall succeeded more than a few years. Sold their equipment and went back to the company driver routine.
If you have a few $ to throw down and buy a used truck good luck and hope you succeed. But a $900 weekly flease payment is not the way to do it.

 

leasing on with a carrier is not a lease purchase.

 

Didn’t say it was.

 

Back in the late part of the 90s, I was asked to consider going the OO route. The market was there! It was going to take very close to $150,000 to start up. I was needing more than just a tractor. I drove up to Nashville and Memphis looking at both new and used tractors. In the end, I decided the risk was not worth it. I crunched the numbers many times and when I applied some common sense business facts I determined that money would serve me better staying in my bank. Over the last 20+ years, I think I made more money by keeping the cash in the bank. This OO subject is one that can really set off passionate debates. I have nothing but respect for the people that are OOs. I am just not one of them.