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

Clutch D. Diesel · Sep 18, 2021

Moose1958 said: ↑

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.
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Clutch D. Diesel · Sep 20, 2021

BM 58 said: ↑

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.
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Patriot_Bearing_Supply · Sep 24, 2021

Clutch D. Diesel said: ↑

However, the guy has a ... reputation let's say, and I would run not walk if he got his hands on the money first.
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And now you know why he was so quick to offer you a position. Some businesses exist simply to screw contractors. Sooo... they will pretty much contract to anyone that will sign.

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

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

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