Im looking into buying a truck and leasing out? Need some advice please

I wonder why a trucking school would even have an opinion about whether to buy a truck and lease it on with a carrier. Millions have done it. I've done it. I would venture to say that most are successful.

Perhaps the school might have been talking about leasing a truck from the carrier you work for. I think most experienced O/O's on this forum would discourage doing that. This is because most companies that will lease you a truck, then lease that truck to the company (there are two leases in this example), will charge you way too much money for the truck each week. They make a healthy profit from the truck lease. You can't take the truck and lease it on with another carrier, because the truck lease will state that you can only drive the truck IF you are leased on with the carrier you work for.

If you buy your own truck, independent of a carrier, then you can lease that truck on with any carrier. Don't like the deal with the carrier you work for? You can go and lease on with a different carrier.

Question: what kind of trailer (and freight) are you looking to haul? If you are wanting dry van or reefer only, that might limit your opportunities. I have no idea about the opportunities in Jacksonville or Atlanta. For a home every day deal I do know that running containers, end dumps, bottom dumps, side dumps, etc. etc. may fit your needs and provide a good income for your family.

Here's an example: a few years ago I delivered to a car manufacturing plant near Atlanta. In the dock next to us was an independent O/O that said he had a dedicated run, pulling containers from the port of Savannah to the car plant near Atlanta, home every day. One round trip a day

 

I am an O/O. My biggest regret is buying my truck without due diligence. I should have had a trusted mechanic look it over AND had a Dyno test done. I did neither. Shame on me.

If I were in your shoes, start reading extensively in the Owner Operator subforum. Go on the OOIDA website and start your business plan with their template. Don't buy a truck until you have a plan.

 

You can make good money in Atlanta. If you don’t mind spending a night or 2 away from the house. Since you mentioned considering that as a possible move, you might give it a look.