MC number needed

Well at least I got 40 years experience in this industry and I'm an honest person obviously you're not have a good day

 

Thanks. You as well.

 

"All sounds good for you broker wise,why don't you also get an older MC and save on insurance?"
Really good question. I'm going to have to ponder that one. I'll probably PM you with an answer. There's been a crab sighting on the boards.

Steve

 

You do know that according to the fmcsa website, when you transfer ownership of a carrier you are automatically issued a new mc# right? That's why you don't see them being sold like they use to anymore.

 

Maybe correct me if I'm wrong but when I bought out the last company, the authority came with the package and it wasn't new at all, I am sure it is at least 5 years old. BUT my insurance guy said the mc numbers or the age of it doesn't matter but the records do. He said that my insurance would be cheaper than someone running with a bad record because I keep on top of things.

So why do people think the age of the numbers matters?

By the way, not to knock the OP but to me $4k it isn't worth the hassle and I hope that's per month.

 

Question ( raises hand ).
How much is kill you?
I was quoted $9200 for my first year.

 

Yeah, the more I look into this the fuzzier the fmcsa is about transfers. Good luck to the op. I could see spending money to buy an established trucking business with direct customers, but to buy an mc# just to look old for insurance seems like an attempt at a shortcut in this business.

 

Well transfers is a b**CH form what I was told.

I bought the company because they were incorporated and it avoided a lot of crap like dealing with requalifying for the authority (which I was told could happen) and all of that. It was a simple sell the stock and assume ownership, opposed to transfer of ownership like in an LLC or LP. Same with truck ownership, all we did was ... nothing. Everything was in the company name and all I did was authorize the manager to sign on the company's behalf.

 

Yeah, that would make total sense and the easiest way to do a transfer. I mean an llc wouldn't be that hard either for a transfer of ownership. You had better really like the name of the company you're buying though, lol.

 

No Sir, I didn't know that. Thanks much for the info. The question then becomes, why would one buy one?