Need advice on leasing a semi truck.

You explained well. I want to add something which I believe is paramount for the survival of truckers. Companies and corporations created this type of scam, well designed and protected by the system, to avoid responsibilities with employees, to make them work for almost nothing in exchange, to keep truckers in survival mode because the money they get is not enough to live a decent life, meanwhile those companies and corporations with the amount of money they make , they buy politicians, bend the rules and regulations to their favor. So, the point I want to make here is that : ignorant truckers don't want to see the damage they are causing to this industry, they are helping big companies and mega carriers to destroy this industry.
In my opinion, if I'm going to lease purchase the equipment and also work for them, I MUST be treated like a business partner. 50/50 after all the expenses.

 

I wouldn't lease a truck. Save your money and get some time in the business. Buy your own truck. Dont pay a company to haul their freight.

 

What evidence do you have that you will make more money by not being a company driver ?

 

I had my own truck leased to Landstar about 8 years ago and did it for 10 years. I usually made the same amount of money as I did when I was a company driver.

You basically go from driver to doing everything yourself and I did not make more money for being my own dispatcher and downtime getting truck repairs and doing taxes( paying for an accountant) you have go see the accountant a couple times a year. I don’t think their is enough profit to justify the extra work and time.

when I would go home your always looking for that next good paying load or seeing if truck needs any repairs. Even if truck has warranty you still have the downtime plus motel expenses if not home.

Trucking rates were going crazy for about 6 years but 2 or 3 years ago it slowed back down. Some say rates are starting to go up a lot but it still slow. My company does quarterly video updates for the drives and they have been losing money last 2 years. Not a lot of money but they said it not easy any that why we are doing all these short runs as drivers we don’t like doing. They did make a profit last quarter. Trucking is not an easy business to be in.

 

Exactly. I did some research on leasing a few years ago. With all the responsibilities of leasing, I found you can make as much or more being a company driver. I am not a fan of leasing at all. Why pay a company to drive their truck and haul their freight. IF YOU WANT TO BE AN O/O, go buy your own truck.

 

NO ONE IS MORE BLIND THAN THE ONE WHO REFUSES TO SEE. !!!!

 

Well said

 

Never lease a truck, and never buy a former lease truck. Why? Because drivers beat lease trucks like a rented mule!

 

I was doing that several years ago, we talking about nettingl at least 160...

 

Never lease a truck from the company your working for. 1st they control the freight allocated and decided what you haul. Basically, they win you lose from the expenses standpoint. You carry the overhead expenses including fuel, maintenance etc. Plus it's their truck until you pay it off which is a longer road for you. As a driver your free to leave and can change companies without the overhead expenses. No company pays an Owner operator more money when their truck breaks down.