So you want to "own " your own company

Whoever owns the authority takes care of getting plates, insurance, appropriate permits, etc. How it is billed is between the truck owner (you) and the authority/company owner (mercer/landstar).

 

i had my own plates without having my own authority

i also had my own IFTA, passenger insurance and other things

 

Mercer will have you running their IL plate if you don't already have one. If you have one when you lease on you can run it until it expires then you will run Mercer's plate. At Landstar you can either run your own plate or theirs (also IL). Regardless who's plate you have you'll always be paying for it. You can pay in full or have an amount deducted weekly from settlements until it's paid at either company . This is spelled out in their contracts ask the recruiters for a copy.

 

Awesome, thank you for that.

 

What numbers are you talking about? You'll need an EIN from the IRS and that is all. You'll need to pay your 2290 to them as well. Landstar's 80,000 pound plate is $1650 and they'll deduct it from your check or you can run your own. You used to have to have a DOT number as a truck owner, but that was repealed a year or two ago and only motor carriers can have DOT numbers now.

 

Oh shoot, the DOT numbers was what I meant. I guess they don't make it too hard to do anymore.

 

Some states may not require workers comp unless you have a certain number of employees. An occupational accident policy is very similar to workers comp but less expensive. I have had drivers who have had the occupational policies and never had a problem.

 

Me too, I have my own insurance and reg plate

 

Well of course. The general idea is that you have a small fleet and make a bit on each truck. Nowadays 2 people are not going to be able to eat from teh same bowl significantly. You get the headache and resposibility for maybe, if you are lucky $10 to $20k a year. Tough decision, don't think I will be doing that. I just run me and that is a better bet.

 

I very much appreciate the information you posted above. It is helpful. I am putting together a plan to move forward, and was wondering what your thoughts are on purchasing a trailer.

Where is a good resource to purchase 53' dry van trailers? What is the value, ball park average with a little more than basic options, of a brand new one? 10 years old?