Lease out my semi

Discussion in 'Ask An Owner Operator' started by Link15, May 30, 2021.

  1. Link15

    Link15 Bobtail Member

    24
    2
    May 30, 2021
    0
    Good questions. I grossed 130k. Can't pay 75k but know how to run. Lot to consider.
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. 401-Alex

    401-Alex Light Load Member

    212
    233
    Nov 25, 2013
    401
    0
    In the words of some guy who needs to lear English.. You shou sale the truck. Current market for a used truck will give you a good return. If you have a trailer same also . put authority on hold. And canceling insurance isn't hard. The price your gonna pay to have some guy drive your truck isn't worth it. Im independent I've thought of buying trucks and hiring drivers. #1 finding a good driver. Most insurance companies want 3+yrs exp. # 2 profit after expense. Lets say a 7k gross week 1500 to the driver for pay and thats at .50cpm running 3000 miles a week truck getting 6 mpg avg. 1500 in fuel with around 375 a week or 1500 a month on insurance if your lucky.. And this is no break down no maintenance no problems profit and you know trucking has no guarantees from week to week forgot tolls. Depending on where you run. 200 a week. A possible $3,425. That number is only a example as not all weeks will be 7k some more some less an this number is without a truck or trailer payment.
     
    Link15 Thanks this.
  4. roundhouse

    roundhouse Road Train Member

    1,277
    2,417
    Jul 11, 2018
    0
    My hired drivers worked exactly 65% as hard as I did. And they managed to break stuff on my trucks that I didn’t think was possible to break.

    you likely won’t make any money with a hired driver , certainly not enough to be worth the risk. If you’re hired driver gets in an accident , YOU will get sued .
     
    Last edited: May 31, 2021
    gentleroger, Link15 and 401-Alex Thank this.
  5. Happily Retired

    Happily Retired Road Train Member

    9,073
    17,666
    Apr 16, 2014
    high plains colorado
    0
    Your funeral, my friend. There was a time, when good drivers were all around, and willing to make a change. Today, drivers are more concerned with the cupholders( sorry) than what that noise is, or worse, what that pegged gauge means. When I had my trucks, they were my babies, and NEVER thought once about someone else driving it. Too many horror stories today, the posts here a FULL of incompetent drivers, twisting up company Volvos, knowing there's plenty more where that came from. In short, I agree, sell the truck and get a fishing boat. Take it from me, someone with 35 years in trucking, consider it a blessing you can't drive anymore.
     
  6. slow.rider

    slow.rider Road Train Member

    2,005
    4,668
    Apr 4, 2017
    NYC
    0
    If you're going to sale the truck, may as well sale the MC number too.

    But money can be made with it. There's attorneys who specialize in business contracts can likely offer relevant services or at least guidance. Also OOIDA and NASTC will likely have resources available. OOIDA annual fee is like 40 bucks, I think NASTC runs like 350.
     
  7. Link15

    Link15 Bobtail Member

    24
    2
    May 30, 2021
    0
     
  8. Link15

    Link15 Bobtail Member

    24
    2
    May 30, 2021
    0
    Thank you. Sounds pretty on point. Would you change anything in your answer if I had no debt and would sell the truck at a loss?
     
  9. Link15

    Link15 Bobtail Member

    24
    2
    May 30, 2021
    0
     
  10. Link15

    Link15 Bobtail Member

    24
    2
    May 30, 2021
    0
    Thank you. First I heard of selling MC. Besides asking an attorney and OOIDA, how are Authorities sold?
     
    slow.rider Thanks this.
  11. gentleroger

    gentleroger Road Train Member

    4,704
    10,752
    Jun 1, 2010
    0
    If you have "no debt", how would you sell the truck at a loss?

    If you are going to hire a driver then you need to factor in all the costs. Take your numbers for the last three years and average them out. You have a 7 year old truck which is about to start nickle and diming you, so increase your maintenance costs by 5%, then increase that by 15% because the hired driver is going to get things fixed where/how it's convenient for him - not your pocket book. Increase your insurance costs by 20%. Next, drop your revenue by 15% - he's not going to work as hard or take the same chances you will. Finally subtract $75,000 for driver pay - you won't get someone to stick around for less than that. Odds are that even at that wage you'll be replacing the driver every year.

    If after all that, it looks like you'll still be making enough to make it worth your trouble, then start looking for a driver. Keep in mind that it's going to take 4 weeks to seat a driver, so you have all of your fixed costs to cover.

    From my perspective a one truck operation with a hired driver is a bankruptcy waiting to happen. Running the numbers it looks like a person would need a minimum of 8 trucks to truly be profitable. You'd be better of selling everything now than burning through your capital and then shutting things down in a year.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted