Pay by percentage/ pick my own freight ??

Discussion in 'Lease Purchase Trucking Forum' started by MileMaker719, Jan 15, 2019.

  1. MileMaker719

    MileMaker719 Light Load Member

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    Unfortunately no I have only talked to guys at truck stops and online about it which is why I was thinking going lease first to try and learn everything and then once I have a better grasp on things then going out and trying to get my own authority.. with that being said if it’s possible to do and I could get a truck and get insured with one year or so of experience I would def love to be able to skip that lease purchase step and go straight to running on my own if it was a realistic option ?
     
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  3. KB3MMX

    KB3MMX Road Train Member

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    Correct.

    Skip the money consuming leases.

    Learn while you're getting experience and make a SOLID plan. Trust me you will be far ahead of 99% of the truck drivers out there if you do it this way.

    Do not rush.. prepare for the transition down the road.

    Learn the regs. Learn how IFTA works... Etc etc.
     
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  4. gokiddogo

    gokiddogo Road Train Member

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    Don't be so quick to write off the % you give up if leased on to someone else's authority as money you've pissed away.... for that % you will learn some valuable information such as: what rates to expect for what lanes, and you may have direct access to their customers which don't use outside brokers for much and may not be interested in a 1 truck company, also paying probably about the same after the carriers cut vs what you might find the same load for on the spot market depending what you can negotiate on with the broker. The carrier will also do all your tax filings, drug testing, irp, etc. Jumping straight to own authority, without this knowledge, will lead you to be more likely to be eaten alive by predatory brokers. Which most of them are.
     
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  5. MileMaker719

    MileMaker719 Light Load Member

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    Right this was kind of my thought process initially too . I’m still trying to figure out what are the best companies to look into for lease purchase? Any advice on some good companies that offer a % pay and allow me to pick freight and not deal with being dispatched even if it’s a closed board better then forced dispatch I gotta think right ??
     
  6. thaistick

    thaistick Road Train Member

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    You have 6 months experience, you have bad credit, you are looking to lease purchase, in 6 more months you hope to have saved $3k, and you want to clear $4k/wk AFTER expenses????
    Good Luck sir....
     
  7. MileMaker719

    MileMaker719 Light Load Member

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    610 is 90 points away from being good I have brought it up from a 427 to a 610 in 1 1/2 years (also most lease companies I’ve seen don’t lease based on credit ) I have 2k right now and yes In 6 months plan to have another 1-3 k more correct . And I make 900$-1200$ A week Right now as a company driver so yes I do expect to be able to make at least the same as what I’m making now or more or why even get my own truck ?? So with all do respect I don’t think I’m that crazy right ?? Also with all that being said I am very new to all this and this is exactly why I’m on hear trying to ask for help and get more information on this so I can have a better understanding of what I’m looking to do and whether or not it’s even worth it you know ? So I would have to say I’m doing all the right things to obtain information and prepare for my future wouldn’t you ?
     
    Last edited: Jan 15, 2019
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  8. thaistick

    thaistick Road Train Member

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    Something like 90% of lease purchase guys fail...what makes you think you are better than that?
    I'm not trying to bust your balls, but you need to know this isn't a game for the faint of heart.
    What business experience do you have? Because becoming an o/o is a business, and a couple back to back breakdowns can bankrupt you.
    Read some business books, work on saving cash, get your credit right, get another 6+ months experience in. Consider an older truck that you can pay cash for.
     
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  9. gokiddogo

    gokiddogo Road Train Member

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    If you want to get into your own truck you have the right idea about making more. If you make less you would be a fool to do it. That being said, I think you should rethink your path forward as well as your expectations. Plenty of people try and are bull headed and impatient, get themselves into a very bad deal and while it all appears good it ends in financial ruin. I would bet lots have wished they stayed company drivers making that steady 900-1200/wk. Did you mean you need to net 4k per month? Or do you really mean per week? Is that the number you want to pay yourself or the number the truck grosses or after fuel or ??

    In order to make it successful you need a solid plan, for starters. Lease purchase is not a solid foundation. Saving some money and finding your own truck with your own financing is a much better route. Why anyone would borrow money for a truck with the caveat the lender is also the sole source of revenue is beyond me. With your own financing you can take your truck to whichever carrier you please.

    I recommend saving a lot more than a fee thousand before you get started. Try 50k. And that's for a used truck that you'll also have payments on. And will need small to medium repairs as you go along. You may not see any money coming in for a while while you are getting things rolling. And be prepared to lose it all.

    How is that 900-1200 looking now?
     
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  10. MileMaker719

    MileMaker719 Light Load Member

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    I don’t think I ever said I’m better then anyone I simply came on asking about how it works and what companies I should look into?? Also I have never owned my own business no but I’ve been in upper management at a few places and have a vague knowledge of how things work . With that being said I’m 31 and looking to start going down the path to eventually owning my own business which is why I am doing research now . Everyone who is an o/o right now started somewhere and that’s what I’m doing . This is why I wasn’t initially going to go straight to owner opp with my own authority because I was red to learn the business which the way it was explained to me I was going to try and learn this by doing a lease purchase program . If you have a better plan I’m all ears and open to any and all information out here I’m not looking to prove I’m better or smarter then anyone just a guy looking to learn about trucking and how to one day get my own authority and figuring out the best way to reach that goal . But like I said I’m open to all advice and would love to hear about where I should start and what companies to look into once I get my year mark ?
     
  11. MileMaker719

    MileMaker719 Light Load Member

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    Wow yes I’m sorry I meant 4K a month or 1k a week net is what I need to make it make sense not 4K a week lol also the lease thing was because I wanted to learn the business while building credit and saving money ideally . As a company driver I’ll never ever even in 20 years be able to save 50k lol so this is why I wanted to look into a lease situation where they don’t go off of credit ? I agree getting my truck on my own is better but I guess I figured getting one period to start would be better then being treated like a number (or worse at my company ) in the mean time . I want to have my own truck where i don’t have to worry about another grown man spitting chew all over my front seat and sleeping in my bunk on my sheets when I come home for two days . All I want really is to figure out the best way to start working towards my goal of owning a business one day and unless someone else can show me how to do it with my income and situation I figured I would take the next step towards a lease and gain some knowledge and experience and make a little profit along the way ?
     
    Last edited: Jan 15, 2019
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