o/o lease agreement registration

Discussion in 'Ask An Owner Operator' started by northeasttransport96, Oct 15, 2024.

  1. northeasttransport96

    northeasttransport96 Bobtail Member

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    Oct 15, 2024
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    i opened my LLC i have a truck and trailer ready to hit the road but i have a friend that already is already on the road he wants me to lease onto his company and run under his authority while my numbers age and help me make some money for my own policy but what hes saying is that he reg my truck wouldnt that mean i own nothing my question is who reg the truck ?
     
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  3. Concorde

    Concorde Road Train Member

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    Do you already have your own numbers?
    Are they active?
    Nothing is going to “age” unless your authority is active.
    Waiting for numbers to age is pure silliness.
     
    TheLoadOut, Short Fuse EOD and Judge Thank this.
  4. northeasttransport96

    northeasttransport96 Bobtail Member

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    Oct 15, 2024
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    my authority is un active as of right now because nothing is reg or insured yet
     
  5. northeasttransport96

    northeasttransport96 Bobtail Member

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    Oct 15, 2024
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    to be very honest i've been a driver, and new to the o/o world and trying to navigate thru it while not killing the bank right away
     
  6. Pepper24

    Pepper24 Road Train Member

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    Don’t think your friend really understands.The statement about your number aging isn’t true advice when your dot number is activated that date is what brokers,insurance,go off.So say you lease to him and buy your own plate you are assigned a dot number at that time but it’s what they call inactive so you could run that for 10 years.Then 10 years later you activate by buying your insurance to start your own authority the only date any broker or insurance is looking at is the date your authority went active not when your inactive dot number was given.
     
  7. Short Fuse EOD

    Short Fuse EOD Road Train Member

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    I would personally not start an authority unless you have at least one customer. Ie. not spot market. I also question the wisdom of leasing on to a company that has no direct customers. @Long FLD I believe this o/o mentioned the same. Why start out with a plan that will probably lead to failure. You can run only spot market freight but it will be very challenging. You will have to cut costs, find some old school agents that pay more for reliability and service quality, and be a killer negotiator. You have come to a decent form to ask questions. I like that you care enough to ask questions.
     
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