Pros & Cons of selling my Authority???

Discussion in 'Experienced Truckers' Advice' started by Sumday33, Jun 22, 2022.

  1. Sumday33

    Sumday33 Bobtail Member

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    My authority is 2 years old with clean record and excellent service. What are the pros and cons of selling my authority. I just signed a lease to a very reputable company.
     
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  3. pavrom

    pavrom Road Train Member

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  4. God prefers Diesels

    God prefers Diesels Road Train Member

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    Con: letting someone who burned their authority start fresh, so they can do it again and again and again.
     
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  5. Ridgeline

    Ridgeline Road Train Member

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    Is the authority in your name or a company name?
     
  6. mnmover

    mnmover Road Train Member

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    You can "sell" your authority, but your dot number will not transfer, the FMCSA will issue a new one for the buyers. They are on to the start over again with a older number,masking their poor safety records.
     
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  7. SteveScott

    SteveScott Road Train Member

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    I sold mine a few months ago and have no regrets. It was in my company name and it was a new carrier buying it to save on start-up insurance costs. I'm not entirely sure how that worked out for them, but we had our lawyers hash it out and I got paid a good price. Once I verified the authority was in their name, I voluntarily canceled my DOT number.
     
    TallJoe Thanks this.
  8. TallJoe

    TallJoe Road Train Member

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    Good to know that Carrier Authority selling and buying actually works. I heard about it here and there, and was even inquired whether I would sell mine but I would not know either how that would work in terms of insurance companies not minding someone else buying it from me and continuing with the premium ratings as if nothing changed.
     
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  9. SteveScott

    SteveScott Road Train Member

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    If you look at the for sale forum on here you'll see guys wanting to buy and sell authorities. Those are mostly brokers who do nothing but act as a middle man for the buyer, and that's how I sold mine. I have no idea what kind of commission the guy got for selling mine, but that's fine as long as he got the job done.
     
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