Please I need information on leasing my truck to a company

Please call me at 202-679-8564

 

If you want to make a million dollars in trucking, start with two million. Honestly, you would be better off investing your money in a good mutual fund, you will come out ahead in the end.

 

Can you please explain why you say this?. Did u once upon a time have a trucking company?. Just trying to learn as much as I can.

 

Yes I did... Just going from experience. I now have one truck, free and clear. house is paid for, no debt and much happier. Leased to a very good carrier with less then 10 trucks. Finding qualified people is the issue, and then the costs, workman comp, insurance, etc. Unless you go the 1099 route, which I could not do to a driver, and is in my opinion illegal.

 

The answer is yes or at least can be yes, but generally not to trucking companies.
there are trucking companies that do lesas their trucks, even some of the megas actually lease their trucks, but you would not be able to compete with freight liner or international, etc.
Some smaller companies lease penske trucks, but then again a one pony show would never be able to compete and they expect you to do the maintenence usually, not to mention a readily available truck to replace it with if a problem arises.

Now I have a friend with a construction that does buy and lease at times dump trucks when a long term deal comes up. he may go as long as 3 years before he even sees the trucks, and when the lease is up, he just adds the trucks to his company equipment list, he does the same thing with all matters of dirt equipment.

Something like this, you would have to luck on to a deal before buying a truck and buy what they need, it would be hard for just the regular run of the mill Joe to make work for them.

 

Investing in something you don’t know anything about is a bad idea.
I don’t know of any companies that will manage a truck for you. It’s a hands on business. I won’t go into details.
For the price of a good used truck ($50-60k) you can buy a rental property in most parts of the country and have a management company take care of it for 10% of the rent. You won’t have to do anything. Money in the bank every month and hopefully some appreciation.
A truck is not an investment. It’s a depreciating asset and you need to manage it yourself.
Have you ever dealt with a truck driver? I mean the kind that will take a job that doesn’t offer medical, paid vacation, 401K with a match. Yes the desperate ones that no good company will hire. The kind that will leave your truck in the middle of nowhere and quit.
Good luck to you

 

It’s been over 7 years since this question was asked.
Do you think he’s still looking into it?

 

LOL probably not, didn't even notice that. lol