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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Pay by percentage/ pick my own freight ??
Discussion in 'Lease Purchase Trucking Forum' started by MileMaker719, Jan 15, 2019.
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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.MileMaker719 Thanks this. -
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.
bacoman and MileMaker719 Thank this. -
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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....Tyreman, Western flyer and MileMaker719 Thank this. -
Last edited: Jan 15, 2019
ChromeGetsUHome Thanks this. -
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.MileMaker719 Thanks this. -
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?MileMaker719 Thanks this. -
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Last edited: Jan 15, 2019
thaistick Thanks this.
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