Hello everyone,
So I just inherited a truck from my father yet I have no experience nor idea what to do with it. Obviously I would like to make money off of it by keeping it on the road. My plan is to hire someone to drive it, My question to all you experienced owners....
1. How should I go about keeping the truck running? Will a fleet company allow me to sign with them if I'm not the operator?
2. Should I go thru a fleet company or broker?
3. Should I go to school even if I have no desire to get a cdl?
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Inherited a Truck No experience nor CDLs
Discussion in 'Lease Purchase Trucking Forum' started by SheenaLove, Aug 15, 2018.
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You should sell it!
bryan21384, okiedokie, buddyd157 and 9 others Thank this. -
The TTR has been through this one before.
Believe me, I'm a champion of the under dog, and have seen them rise to lead packs - but the first instinct I can type . . .
Sell it.buddyd157, Cottonmouth85, rabbiporkchop and 2 others Thank this. -
Cottonmouth85 and rabbiporkchop Thank this.
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yep throw a For Sale sign on it -
Cottonmouth85 Thanks this. -
I have to agree with the "sell it" crowd. With no experience, you'll be lucky to keep beer money for yourself. What you don't pay to the driver will be going back out in fuel, taxes, insurances, maintenance and repairs. So, ask yourself if the stress of keeping that truck moving and the possibility of loosing everything you own in a lawsuit is worth a few thousand a year.
buddyd157, austinmike, Cottonmouth85 and 2 others Thank this. -
Two words....
S E L L I T!!!!
Believe me that's that with a cashout payment for it's value whatever it is. Once it's off your hands you will understand that the property tax liability you incur holding onto that thing and so on so forth etc would not be that big bad scary monster waiting to eat everyone at night. (And it will)
This is NOT a attack on you, your dreams and imagining what might be possible. It is strictly a cold assessment. Sell the #### thing. Use the money as your Pappy would approve you to spend it a certain way, CAREFULLY. AFTER YOU wait say 6 months with it safe somewhere to think on it before touching it if at all.
BE PREPARED to cross swords with the IRS, 2010 was the last year that inheritance via death of a parent etc was not taxable. It might cost you something. It might not. This is something where the executor and the HRBlock or some such would tell you much specific what to expect with that money.
If I had a tractor show up in my life, I would sell it then and there. The taxes alone would be more than what I would want to pay on it annually, never mind the fuel etc. My position in life has changed and I must bend to the wind like a strong tree.SheenaLove and RustyBolt Thank this. -
It would be the same thing if your Neurosurgeon uncle left you all his medical tools. Dont even consider it. Sell it.
Seriously, it'd be the same thing. Your going to end up killing someone. -
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haycarter and Cottonmouth85 Thank this.
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