Hi, I am completely new to the trucking biz.I bought a truck and leased it out to a transport co. After months I still have not seen a dime. The truck is hauling, but after the company, driver, and expenses are paid, my cut has been zero. Explanations are there from the Co.and somewhat make sense, but is this normal for the truck owner to not make anything in months? I am in a contract with the company. How can I know for sure what is coming in and I am not being taken, and the company is just keeping my cut? Any advice here appreciated.
Leased my truck out to a company, have made NO money so far.
Discussion in 'Ask An Owner Operator' started by new2trucks, Jan 14, 2018.
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@freightwipper can help you. He's all knowing.
tucker and new2trucks Thank this. -
Thank you, new to this , how do I contact @freightwipper ?
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What does your contract say? There ought to be a section regarding payments to you for the use of the truck. That's where you'll find the answer.
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All it says is that I should be paid within 7 days, I realize I look pretty dumb here, but too late for that, how can I see the books? How can I know what is really coming in to the Co., so I know I am getting my true cut I guess is my problem here.
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Are you to be paid a percentage of what the truck makes? Per mile that the truck rolls? The number of hours the truck runs? The number of days they have use of the truck?
What deductions are being made from that amount?
Who is responsible for driver wages, maintenance, repairs, or replacement of the truck should something major happen? Is this stuff paid for before or after your cut is figured? Does it come out of your cut or theirs?
All of these questions should be answered in the contract you signed. -
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Read your contract with the carrier , let us know what it saysexhausted379 and Jagsfan Thank this. -
Right, I have all of that breakdown in my contract. What I don't know is what actually is coming in to begin with. I get a breakdown from the company bi weekly. The company gets their cut, the driver is paid, and expenses. Basically, what ever money is left after ALL expenses are paid is suppose to me mine. Which so far is zero. Supposedly we have been "breaking even". Problem I am having is that I own the truck, that is making them money, but no money in my pocket. The company pays all the expenses with what the truck makes, my cut last, and in my case not at all.
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wore out, Toomanybikes, Lite bug and 5 others Thank this.
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