New to Trucking. Should I lease out trucks?

Discussion in 'Ask An Owner Operator' started by johnhawden08, May 18, 2022.

  1. johnhawden08

    johnhawden08 Bobtail Member

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    New to trucking. THinking of buying trucks. Talked with some drivers and they told me to lease my trucks out to them. Wondering why they'd want to go with leasing with me instead of company. Is that good way to go? I mean, what are my liabilities here? Why not lease with companies than me?
     
    Chinatown Thanks this.
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  3. kay_ray

    kay_ray Light Load Member

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    Do not buy trucks and lease on to any driver. Market is really bad right now. Trucks are expensive. You being new and knowing nothing about the business side doesnt help . Save your money and invest into something els . Now is not the time .
     
  4. johnhawden08

    johnhawden08 Bobtail Member

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    Thanks! Wonder why he propose that idea though?
     
  5. RockinChair

    RockinChair Road Train Member

    Because he saw an opportunity for him that likely would not have been good for you.
     
  6. Long FLD

    Long FLD Road Train Member

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    Because he probably can’t get his own financing. So if you buy the truck and do a lease purchase with him then it puts all the risk on you.
     
  7. blairandgretchen

    blairandgretchen Road Train Member

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    Certainly help yourself to the resources here - you'll find the answers to your questions.
     
  8. Chinatown

    Chinatown Road Train Member

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    Become a member of ooida which is a business website for the owner operator and small fleet owner.
    www.OOIDA.com
     
  9. johnhawden08

    johnhawden08 Bobtail Member

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    I can definitely wait a year or more if needed. But I do want to start getting my feet wet in trucking industry. I'm working in Tech so leaving my job isnt worth it. Something like a side hustle is how i want to proceed. How should i go about it, any advice?
     
  10. Ridgeline

    Ridgeline Road Train Member

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    Seriously go into real estate. this business holds too many liabilities and you WON'T protect your personal assets.

    This is a full time job with millions of dollars at risk when one of those trucks gets into an accident.

    I have a serious question for you, where did you get the idea that this is an industry that you can make money in?
     
  11. Rubber duck kw

    Rubber duck kw Road Train Member

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    Trucking is not a side hustle, some of us are actually trying to make a living out of this not looking for beer money. Take up delivering pizzas or something for a side hustle.
     
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