Running your own accounts and business under another's authority.

I have drove this truck local for 2+yrs as a company driver and have decided to buy the truck and trailer but silly as it is can't afford the $7500 lump some payment on insurance. The person I bought from is more than welcome to keep me on insurance(me pay 100%) and run his a authority for a flat rate of $1-$100 per month. Someone school me on if this will work. I will be doing my own accounts and billing. Yes if I had 7/8 k I would have my own insurance and spending the $300 or so on my own numbers but the 8k @ once just isn't happening right not. Thanks for any helpful replies..

 

i would be doing everything(load board,billing, collect and self pay) just leasing the numbers for a small flat fee and paying the insurance,with a signed lease that's legal correct? I think the biggest down fall I see is the taxs are going to be a pia that away* Good news is I just talked to a insurance company that may finance with 10% down (I had failed to find one till today) and go get my own dang numbers.



* I'd still like some opinions and facts on that way of leasing on.

 

I found a insurance compeny that is finacing my policy and I'm getting the number leg work started as we speak. I tried leasing on to two different compenys, that's not for me I'll compeny drive before I go that route again. Imo, if your going to O&O take that one more step in being totally independent.