Trying to get started.

Sounds like your idea was a good solution. Lease on. His situation isn't all that unusual.

 

Did he buy it at a dealership? Anytime you buy a truck from the dealership... Buy the Premium 2000 warranty that covers the engine, transmission, & rear ends for 24 month/200,000 miles. Plus buy the additional coverage to cover the turbo(s), injectors, & water pumps.

 

yep. Basically over a year he'll end up giving up way more than those things are worth, but at least he'll be up and running. That's the nature of a lease.

 

It cost 23k to overhaul the engine! Don't know what kind of motor he has but a friend rebuilt a 2001 Detroit cost $8200.00. 200,000 warranty included. Know of truck for sale that has a Cat, was rebuilt cost $ 8600.00 with the 2 year Cat warranty. An out of the crate CAT is less then 23k. Anyway he paid for it so now find a co that pays for plates,IFTA,HUT,and go truck. There's co's out there that will do it gladly. Most will take costs out of settlement check weekly until paid. That's the way I got started as o/o. Just make sure you get your own plate ASAP. GOOD LUCK!!

 

What is it you give up a year leasing to someone? I like to know what I am missing.

 

Just because nothing is free, and the company will profit from every aspect you need from them.

 

Well in the last 17 years I have been leased to four different company's and never felt that way they took their percentage and I only worked for one that paid my tag. They took 30% furnishing cargo, liability, trailer, fuel card, filed fuel taxes, base plate and dispatched and my overall average last year was 1.76 per mile to the truck and I ran 103,760 miles and was home three days every week, just wished it would have last.

Yeah company's are going to profit and so are brokers big time, if they wasn't they wouldn't be in business long. You run your own authority, equipment, tag, insurance, have the extra paperwork involved with billing, IFTA, registration, etc.......... been there and done all that. You may have a lot of freedom but that broker still controls all that you do. I have seen a lot of commodity brokers cut a guy off because he quit hauling for them and took off and went to run harvest or he hauled some loads for other brokers and when he came back their was nothing for him to do. So the freedom only goes so far and the broker takes a big chunk of the pie. And as an owner operator I can go home when I want and decide if I want to take that load or not just like if I had my own authority, the title is in my name not theirs.

I am no way knocking the guys that run their own authority I would love to have mine again but times are tough and most of us are struggling and I just soon be leased to someone until things get better then I will go back as a independent.