I managed to save enough to afford buying a truck out right, repair it, and operate it for 2 months without further income. I've looked into getting my own authority, but after crunching the numbers, it doesn't make sense for just 1 truck, and startup insurance is insane.
Are straight lease companies just as bad as these L/p's
Lease companies, "NOT Lease purchase"
Discussion in 'Ask An Owner Operator' started by Craymarris, Mar 21, 2021.
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Nah you can do OK on percentage pay. A few bigs and tons of smaller outfits out there. Look into USA Truck, Schneider, Mercer, Landstar and JB Hunt for starters, then work your way down into smaller outfits until you find one that fits.
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All depends on ones situation. I too bought a truck for cash, fixed everything that was needing done and when I ran the numbers, it was better to go O/O with my own authority than paying someone a % of gross. Even paying a company to handle all my compliance and IFTA which I will take over later, and having a dispatch company. A lot of Luck is also involved as their are so many things that can go wrong in this business. The key that tips the scales is Insurance. Mine was around 10k for the year. 58, clean driving record, live in NW. I know a lot are double that number and if that were the case for me, I most likely would be leased on with someone.
I think there are a lot of good lease companies out there and can be found with research, don't believe everything your are told as they also have recruiters, get everything in writing and make sure you know what you are signing when that time comes. You might check out Silver Trucking LLC smaller company that I have heard good things about. For sure Landstar, Mercer and Schneider as @slow.rider mentioned. Good luck. -
I crunched the numbers where i'm at and with the freight rates not keeping up with the fuel cost I won't be able to keep this up much longer, the repairs on their truck is starting to eat me up.
Would you please tell me what I need to do to get my own authority and about what it cost up front, I know the insurance needs to be paid up front, I'm paying 10,500 right now, but it will go up when i go out on my own.Last edited: Mar 21, 2021
Reason for edit: new ideas -
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slow.rider Thanks this.
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I did pretty good with Landstar, even using their trailer,
Had thought of buying one, but then you’d lose out on a ton of drop and hook loads.
So after a while I just got my own numbers and bought a trailer and do my own thing, but insurance is 15K year. -
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Find a smaller company to lease on to that pays percentage. Lots of good smaller companies like that will treat you good. Don't settle for mileage pay
slow.rider Thanks this. -
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