Need some help:
Im going to be 22 in about a week, alot of comapanies require you to be 23 to get leased to them. Found this smaller trucking company in PA that said i can get leased to him so i found a truck and trailer to buy and got approved for the loans. Now hes telling me his insurance comapny wants me to drive his truck for six months to a year before i can work for him with my own truck, because of my age and i dont have that much OTR experience. I have about two years flatbed/stepdeck/lowbed local experience in CT, before that i was in a tri-axle dump for about 1/2 a year. I got layed-off from where i was working about three months ago, so ive been driving for this guy i used to work with, he has his own truck. did some OTR loads. His kid just turned 21 so he driving the truck now. Im already approved for my insurance if i lease onto a company or get my own authority. Want to do flatbed work.
would you guys reccomend leasing onto a comapny or getting my own authority and using loadboards/brokers??
PLEASE LET ME KNOW WHAT YOU THINK!!ANY ADVISE WILL BE HELPFULL

 

Fat, drunk and stupid is now way to go through life Diesel. Now your own double secret probation.

 

Most insurance companies want a driver to have at least 2 years experience for those who are at least 23-25 years old. My insurance company will cover a driver who is younger with at least 3 years of OTR experience. Until you reach your 23rd birthday I think you will find it difficult to lease to most carriers due to the insurance restrictions. I would not give up. You just may be delayed a bit. As far as running your own authority, it takes a lot of money to get rolling until the funds starts coming in. Insurance will likely be high due to your inexperience and age. That doesn't mean you can't make it, but you should be aware of the risks and potential problems with running your own authority without any previous owner operator experience.

As far as which way you should go? My advice would be to get some more driving experience until you have another birthday. Save your money to get started. Do you have any idea of what it takes to run your own authority or be an owner operator?

 

All of what GMAN said but you said the guy you were driving fors son just went to driving for him at 21, would he let you lease on to him and drive under his authority ??

 

Thanks for the reply....I just found about four companies that said they should be able to lease me on to them. Ive been saving money since i was able to work to get my own truck, my truck and trailer payment will be about $1450 a month and $525 for insurance if i am leased to a company. If i have my own authority my insurance will be about $1200 a month, so i definatly want to try to get leased to a comany just starting out. A couple of guys ive talked to have a truck payments between $2000-$2500!! I wont have any other expences besides the truck/trailer/insurance payment and the cost of living on the road...Im going to have some back up money in the bank to be safe. what do you think of 85/15% split for being leased??

 

Havent really talked much about doing that with him, His wife doesnt want to be bothered with the extra paperwork, But they said they would think about it...... havent gotten a yes or no yet

 

That is a pretty good split for leasing on to a carrier, depending on their rates. Most carriers pay about 75% with your own trailer. Insurance is high at your age. It isn't inexpensive for any of us.

 

Just out curiosity is that 1200.00 per month for 9 months or 12?

 

That is a pretty good split for leasing on to a carrier, depending on their rates. Most carriers pay about 75% with your own trailer. Insurance is high at your age. It isn't inexpensive for any of us.[/quote]

Yeah I saw some companies offering 75%. The companies I found are offering 80-85%. I found one company in Alabama, I think they were offering 80%. They haul Off Shore Drilling Equipment from Alabama to Louisiana and some to Oklahoma. I would be stuck down there but the loads are paying $4.50-$7.00 a mile. Requires hazmat. guy told me to wait till im 22 to fill out all the paper work. The other companies run the 48 states and most loads are $2-$3 a mile, sometimes there might be a better paying load but you might have to take a load paying a little under $2.00 to get out of that state they said