Lease or Own Authority

Look at Truck Writers in Blaine MN for insurance and OOIDA

 

I would start by leasing, it gives you more resources to tap if your have issues with say truck breakdown.

 

Own authority is better because you are your own independent business, leasing you give someone else control over your business.

Invoicing is 10 minutes once you make a template for that first invoice.
Factoring is another one that wants to cut into your revenue.

I don’t think it’s even comparable, it’s just about if you are able to handle all the paperwork or you just want to be a company driver with truck payment which leasing really is.

leasing to a company with a loadboard like Landstar I assume (not from experience) you’d limit yourself to their only loads, and I’m yet to have a week where one brokers loads are paying best every time.

 

Land

 

Yes, if you can.

 

A huge part of your cost of insurance is where you operate out of. When my buddy moved from Colorado to Texas his premium almost doubled. When I moved from Colorado to Idaho, mine went down $10k a year. So it's hard to compare to other folks policies.

 

I agree with this. I have been on my own since the day I started driving. I've worked for some other companies when I had to. I recently did stint in the oilfield because I thought I needed insurance because of child births and such. There is no better feeling in the world than being your own man.

 

If you have your own authority, like you mentioned above, then you don’t have to lease on with these companies, all you have to do is sign on as a carrier to haul their freight. You’re not bound exclusively to them but are just signed up to haul their freight when you’re so inclined. JB for example has their own O/O section to sign up and it gives you access to their 360 load board. That said, they also just announced they’re merging their board with Keep Truckin… but there are plenty of others.

You also don’t have to factor but if you need the money quickly or sooner than the 2-4 weeks than by all means factor away. It’s a tax write off, if you play the game right and keep track of all your expenses. Now days everyone has an app, either the broker you booked with or the company itself. You submit you paper work when you’re done and that’s it. It all depend on how you want to run your business.

Having said all that, why not lease on to someone, gain some experience and save a few bucks and then venture out with your own authority after you figure out what works for you.