New Lease Purchase with a Co-Driver

Discussion in 'Lease Purchase Trucking Forum' started by Jodymcgrody, Aug 10, 2018.

  1. Jodymcgrody

    Jodymcgrody Bobtail Member

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    Mar 11, 2018
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    If I lease purchase a truck, how would it work with a co-driver?
    Would the company assign a driver and pay them directly?
    Would I simply advertise a position for a co-driver and pay them directly?
    I'm just thinking that I'd rather have the truck rolling and making money as many hours as possible. And also get the benefit of company maintenance through a lease program.
    Thanks.
     
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  3. MysticHZ

    MysticHZ Road Train Member

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    You're a business, you pay for everything.

    The co driver is your employee. You recruit them and hire them. You pay their wage. You pay their workers comp insurance. You pay thier payroll taxes.

    And the truck is your responsibility. You pay the maintenance. The company may require to pre pay into maintenance fund. The company may require you to use thier shops. The company may dictate when, where and what maintenance is to be performed ... Having somone control the most expensive asset of your busines is niether a convenience, nor a benefit.
     
    Last edited: Aug 10, 2018
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  4. Jodymcgrody

    Jodymcgrody Bobtail Member

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    Mar 11, 2018
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    Ok, thanks. Now it's a question of which is the best route economically, lease purchase or buy a used truck that can be paid off faster. I'll have to start digging into other threads for that one.
    I'm guessing that buying used and hiring a co driver would get the most return versus buying a new one/hiring another driver. It may be cheaper to just buy three used trucks and hire 3 drivers for what I'd end up spending on a lease purchase ultimately.
     
  5. Milr72

    Milr72 Medium Load Member

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    Don't do it! unless you have enough money to pay cash for the trucks you are buying and a bankroll to operate on. Sure recipe for being broke before you know it!
     
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