Thinking of buying a box truck to rent out, any advice?

Ever heard the phrase " worked like a rented mule " ? Rent out that truck and you'll understand.

 

You paying cash or getting a loan on it? I think it’s a great idea! Just kick back and watch the cash roll in, brother! Heck, I can’t believe no one has thought about this before?!? Transportation is easy! Child’s play! You got this!

 

Better plan would be local moving company. Maybe local home improvement deliveries. Appliances, furniture companies. Combination of all three. Need 2 strong young Workers. 1 with a CDL and no drug issues. Hard to find.

 

First get an idea, dispatchers don't rent trucks.
Second, you should consider getting a good lawyer who works with rental contracts.

Might consider getting a Uhaul franchise.

 

You came to the right place, although, be prepared, you will get a varied amount of replies, mostly on the negative side. Insurance will devastate you, and generally, people that rent box trucks, aren't truck drivers, just ask the safety dept. at UHaul. You'd be competing with the likes of those rental places, that have thousands of trucks, they don't miss one if it gets damaged. Who is going to repair it? $150/hour adds up fast. I think you may have been listening to the wrong people when thinking this may be a good idea.

 

who remembers this guy?

 

So how many years of trucking do you have?

 

This is a bad idea. The light to medium class truck rentals have some big players. Hertz, Penske, U-Haul even budget and enterprise are renting trucks. A number of truck dealerships are in the game.

If you have 50 to 70k in cash, you will make more money, with less headaches putting it in a money market savings account.