Someone will run my truck and trailer Questions

Discussion in 'Ask An Owner Operator' started by Trucking121, Jan 17, 2021.

  1. Trucking121

    Trucking121 Bobtail Member

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    Jan 17, 2021
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    Hi I have a friend who will run my truck and trailer for me since he has a lot of experience in the industry. He will also hire driver, maintain the truck etc.

    1. Should I still apply for DOT#? or can he run my truck under his DOT#?
    2. Do I get insurance under my company name or he adds this truck under his company insurance and bill me? (This truck will be registered under my company name)
     
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  3. Oscar the KW

    Oscar the KW No Filter

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    What does your friend with lots of experience in the industry say?
     
  4. Concorde

    Concorde Road Train Member

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    You’re going to lease onto your friends trucking company and he’s going to keep it rolling for you...if so, see below.

    You won’t need a dot#, you’ll be running under your friends.

    You will need “Non-Trucking liability” aka, but somewhat different “Bobtail insurance
     
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  5. Trucking121

    Trucking121 Bobtail Member

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    He never done this before.. thank you!

     
  6. Trucking121

    Trucking121 Bobtail Member

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    Jan 17, 2021
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    That's similar to business liability insurance or is this an auto insurance? I'll research bobtail insurance, thanks!

     
  7. AModelCat

    AModelCat Road Train Member

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    Sounds like you'd be better off just selling the truck to your friend because 3 hands in the pot means you're not gonna make a penny off that arrangement.
     
  8. Dino soar

    Dino soar Road Train Member

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    If he has his own company why is he running your truck?

    Without more information you are post raises more questions than answers..
     
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  9. Trucking121

    Trucking121 Bobtail Member

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    Jan 17, 2021
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    I’m looking for investment / business opportunities and he pitched this to me (buy a truck and I’ll run it for you) he will be in charge of getting a driver, and coordinating everything (including maintenance etc but I would pay for these expenses) and he will get 17% of my gross earnings.


    What’s your opinion on this?
     
  10. Trucking121

    Trucking121 Bobtail Member

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    Jan 17, 2021
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    This is an idea he pitched to me.
     
  11. Dino soar

    Dino soar Road Train Member

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    Thank you for clarifying that.

    I would not try to just dissuade you for the sake of doing that, but my honest opinion is that it's a very difficult situation For more reasons than I can actually write out in a post.

    As was said earlier with 3 hands in the pot you are lucky if anything is left over. I don't think 17% of the gross is even enough for him to just pay a driver. Are you saying that you would pay all expenses including paying the driver and then you give him 17% for handling things?

    I will respond to your post honestly however I can but your best bet if you have money to invest is to just by real estate and pay the realtor 10% to handle it and that's the best answer.Many people become wealthy in realestate. Most people lose money in trucking especially if they have no experience and rely on someone else.

    There are a lot of ways this could go badly and cost you a lot of money, and hear my words- COST YOU A LOT OF MONEY. Even if everything went smoothly, you would not make very much in the end and it would be a very bad risky way of trying to use your money to make more money.
     
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