New owner operator question

While you can add me to the list that thinks this is not the best of ideas, I admire your intentions. How well do you like your girlfriend? Because this could very well end your relationship with her, and leave you looking for another driver at the same time. And if it is YOUR truck, then you would be paying him, not him paying you. Maybe you should just sell him the truck.

 

There is more to renting a truck..

I'd advise you to sell the truck and go to business school because you obviously have no idea what your up against..

 

$800 a month and blessings to marriage no matter what upfront

 

Look at the OOIDA website. OOIDA has the correct answers for you. This organization is designed for the 0/0 and small fleet owner.

 

You asked for advice and got 7 identical answers including mine 8, but you still want to move forward with the opposite conclusion. All I can say is good luck I hope we are all wrong.

 

If you are looking to lease him the truck then simply look at how much it will cost you to have then add %10- %20 for your profit and that is what you will charge him. Make sure to get a contract saying that he is responsible for all damages insurance etc and prepare yourself for court. While I understand your wanting to proceed I as well can say that it is a bad idea if you ever want to keep your girl. Family and business hardly ever works.

 

I got my popcorn, awaiting this disaster in the making....

 

I was told when i got into the o/o world i was told the first year is the hardest save all the money you can and if you want to be home every night to forget it and go work at Mcdonalds run it like you have no home until you have a very nice big cushion of money to fall back on

 

I suppose that may be true in most cases if you have a big truck payment.

 

If anything sell the truck to your father in law. Run the truck yourself or sell it.
Why would you hang onto it if you're not planning to run it anyways?