Looking to becoming a Owner Operator

I don't think you understood me so I will explain it in simple terms.

Lease purchses are a scam. It doesn't work. In the end the company decides who will and will not get a truck. Not you. Its an illusion of control to make u think you are actually being your own boss. The fact is the company makes tons of LP drivers.

You have no right to the truck period. Unless you have a title or a title with a lien holder you have no rights to the truck. Put simply....you are a company driver paying the carriers bills.

I invite you to do this. Ask an LP carrier to send you a current copy of an LP agreement to review. Guess what......they won't let you see it in advance!!! Tell them if you put in an application....and it measures up would they send you a copy of the LP in advance. Don't commit to going to work for them.....you want to see the contracts. Ya know what.....they won't let you see anything until you get baited into orientation.

Any carrier worth their salt will send you a copy of a contract. I am an Owner Operator.....and I am here to tell you that the good carriers worth their salt will send you a copy of a contract for review. If they don't.....I don't even consider them.

If you manage somehow to get them to send you a current copy of an LP contract make sure to have a lawyer or OOIDA go over it with you. They both will tell you LP is a very bad idea.

 

Its simple man. Some people make it like its rocket science.

Right off the bat I have been leased onto a company that takes 20% of gross and I use their trailers and dispatch all that they pay for. I dont have any LLC or any business license. I run under their authority and have insurance etc up to million bucks on liability. Pay about 150 month for that thru them.

I clear about 3 grand a week but i like spending time with fam so i work 2 weeks off 2 weeks.

In mh opinion if you're just starting off then lease on with a smaller company that lets you do paper logs and percentage so you can put most the risk on their shoulders.

Once you save up some capital then go get your own authority own trailer and go that route. Why? Because the insurance for new authority is like 1,000-1500 month as opposed to say 150 when ur leased onto an established company.

I did this for 2 years and now soon plan to do my authority.

Honestly man if you can run under someone elses authority and for say 8-10% of gross they take care of that plus your permits and all that jazz plus your pay then its honestly better that way.

Because under your own authority typically you would factor your own bill of ladings so you could get paid right away not wait a month or more and factoring companies charge like 4-6% anyways. So all you're really giving this company you lease onto is another 3-5% for all the headaches of running an authority and paperwork and blah blah. Its worth it.

Only thing I recommend is get your own fuel card as you will get all the savings at the pump.