New to truckersreport.co. need advice

Welcome to the forum.Are you new to trucking?You sound like it and I would suggest getting exp before taking such a leap into becoming an O/O.

 

READ the stickies here....
http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/

They are the ones on the very top. Lot of reading and likely to answer your questions or at least let you start making a reasonable list of questions instead of such a generic request.

 

If you want to be an O/O..............save your money and BUY a truck.

Lease programs only benefit the company. All your hard work will only add to the equity the company holds in the truck,there will be no equity in it for you.

Imagine having an investment portfolio which you worked hard to build that someone else collects the dividends on.

Stay away from lease purchase......there is no "purchase" only "lease".

 

yes I know exactly what you mean all too well.

 

U will only be a pawn for the company. I don't know of any that ended up owning the truck in the end. They will hit with the balloon payment that most didn't save for or they will run out of loads once the truck is about paid for. Also if you get upset with company for whatever reason and decide to leave truck stays. cause in the lease it will state u cant haul for anyone but them. I agree with other poster. save your money and buy yourself a truck or look at financing options other than that of a lease purchase. hope this helps and good luck

 

hey guys, Im kinda new here, but I need some advice..My brother is owner/operator who has fallen on hard times due to his truck breaking down and him not having the resources to fix it with. I am considering creating a new company and buying a good used truck. He is already driving the company truck he works for to keep a job but its not the money that he was making with his. My question is should I invest 30k in a truck, create the business and let him just drive. he has been driving at least 25 years and well experienced. I havent mention this to him, Im just doing research before we discuss it. last year he made 100k driving his t ruck before it went down. repairs are nearly 8k which he doesnt have the credit or cash to do..so is this a good idea or should i stay out of it? thanks in advance for the advice

 

why hadn't he saved any money, find that out first and you handle the money

 

he's divorced, three kids, child support and 3 kids in college, for starters