You lack the knowledge to make a go at it, you've been doing this for how long, less than 6 months, there is a lot more to it than just leasing on with a company.
Look I see it this way, the more prepared you are, the more successful you will be. The failure rate, in the industry is above 90%, close to 95%, and many of these are drivers who waited, learned as much as possible, and still failed.
But as DD said, you have your mind made up, so ...
SHORT TERM LEASES, (6 month)
Discussion in 'Ask An Owner Operator' started by Nahbrown, Oct 7, 2023.
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Another Canadian driver and Diesel Dave Thank this.
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i know this though if I stay a company driver I will not learn anything about the business side of trucking. You stay comfortably numb to anything other than what it takes to drive, deliver and reload. Even if we fail I will get one heck of an education of the specifics of why we failed.
If our company didn’t have contracted rates with many companies I wouldn’t even consider this right now. Our Owner Operators make their money out but often are slim margins on the return load.
If our personal financial situation was like it was in our 20s and thirties then I wouldn’t even consider it right now. Its not, being debt free with a military retirement gives us options to take some risk.Another Canadian driver, Diesel Dave, Siinman and 1 other person Thank this. -
I don't believe you have a chance at all of getting a rental or 6 month lease truck to be honest without being in business for 3-5 years.Another Canadian driver, Nahbrown and Big Road Skateboard Thank this. -
Only thing I would say is track your numbers on the company truck and see if it makes sense to run your own truck after knowing the numbers with them. Get with the other O/Os that work there and see if they will share the cost side from the business like Insurance and whatever they charge to run under them.Dwellsouth, Opus, Another Canadian driver and 3 others Thank this. -
I'm like @Siinman, i started with zero experience in freight, or trucking in general. But i had thorough knowkedge of truck and trailer repair, and a 20 year old CDL i hadn't used.
And while I am 100% behind anybody who has served. That discipline doesn't always make great business owners.
Great luck whatever you decideAnother Canadian driver, Diesel Dave, Nahbrown and 1 other person Thank this. -
Im going to talk to 2 or three companies that rent/lease to see. I was hoping someone here had a recommendation but this seems to be an off the wall idea. I don’t know if a large deposit or paying 3 months upfront would matter. Either way this option is my least favorite because the money is lost and not applied to any principle however it’s the least financial risk if you are just starting out.
When we make the move it will probably be to purchase a low mile used truck.Another Canadian driver and Siinman Thank this. -
What everyone is telling you, it's a dead end. You're not an established business none of the places that do it will talk to you about it. It's expensive even when you can do it. And honestly you two haven't figured out how to take a shower every day and not interfere with a schedule? A team on ELD's?
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Another Canadian driver Thanks this.
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If they rent a truck to you, and they probably will because they don't have any business, you will have to pay them $1000+ weekly plus 20 cpm.
If you drive 5000 miles per week, you'll have to pay $2000+ every week...Nahbrown and Another Canadian driver Thank this. -
Back in July my truck was down for a week in KC for an injector. I was loaded for Phoenix and already had a reload coming back. I checked with PacLease in KC because they had trucks available. I will tell you that it made zero sense for me to try and rent a truck to do my round. The office moved some things around and a guy coming back from TX grabbed my trailer and went made all the drops. I don’t remember the exact terms but it wasn’t worth what they wanted to get paid for a truck. I rented a car and came home for a week.
Siinman, Nahbrown and Another Canadian driver Thank this.
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