Need some driver advise...

Discussion in 'Lease Purchase Trucking Forum' started by svtreactor, Jan 21, 2023.

  1. svtreactor

    svtreactor Bobtail Member

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    Trying to be as short as possible on this thread. Looking for advise.

    I own a trucking company with about 15 co trucks and 10 owner ops.

    Some of my co drivers are considering purchasing their own trucks, most of the time when they do this, they expect me not to take em back as owner op's. We run short regional and local intermodal in KC area and could use the OO's .

    I just purchased a older truck 2007 Freightliner Columbia for $14k.

    I'm thinking about offering it to one of the guys as a rent to own type deal.

    What do you guys think of these terms;

    No money down, no credit check.
    2 year agreement, $300 per week. $100 due at end of term for title transfer fee.
    One month truck warranty, can use my shop for free for anything they find or that goes wrong.

    Would you drivers agree to this?
     
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  3. gokiddogo

    gokiddogo Road Train Member

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  4. wichris

    wichris Road Train Member

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    Whether you think so or not, you'll be paying for any major repairs. Either as a loan or for yourself when they walk away.
    Adopting the driver would be cheaper.
     
    Atlanta trucker, nredfor88 and ducnut Thank this.
  5. ducnut

    ducnut Road Train Member

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    You’re sticking out your neck. When you do that, it’s easier to chop. Don’t stick your neck out for anyone, in business.
     
  6. Long FLD

    Long FLD Road Train Member

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    If someone can’t afford a $15k truck on their own and all that comes with a 16-17 year old truck they’re not going to be able to afford to fix that truck while paying you $1200 a month so you can double your money.
     
  7. Lazer

    Lazer Road Train Member

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    Why not increase the pay for your company drivers?
     
    Atlanta trucker and Aamcotrans Thank this.
  8. svtreactor

    svtreactor Bobtail Member

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    55% of load to co driver, everything is covered. I pay the best in this industry. Everyone wants to become an owner operator, I get it.
     
    Atlanta trucker and ducnut Thank this.
  9. svtreactor

    svtreactor Bobtail Member

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    Nov 28, 2013
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    I was thinking a little different about this - This is how Prime and other companies grew their owner op fleet. If I can offer everything in house, why not join me type thing.

    Not sticking my neck out, at the end of the day it's all business.
     
    ducnut Thanks this.
  10. svtreactor

    svtreactor Bobtail Member

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    A lot of people can't offer to pay for a $15k truck, market is ####, I'd be helping someone out. $1200 a month payment for a owner op average of $200k+ a year locally shouldn't be hard to pay.
     
  11. skallagrime

    skallagrime Road Train Member

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    A 14k truck for the low low price of 31k, gee, sign me up
     
    gokiddogo, nredfor88 and Long FLD Thank this.
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