Co Owning A Truck Forming A Partner Ship

Topic 17234 | Page 1

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Philly Fan 's Comment
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Hello Drivers,

I am interested in anyone's opinion about co owning a truck. I am not talking about team driving, unless the right load presented itself. I am speaking about driver A drives 7 days Driver B drives 7 days, while driver A/B enjoys home time and possibly has a part time gig to pad the expense account. An escrow account is agreed upon to provide for repairs, and protect each other from worst case scenarios. A rock solid agreement, with everything communicated and considered to be successful. A lawyer would draw it up and kept on retainer of course. A gentlemen's agreement. After a certain amount of time (5 yrs maybe), with enough resource (escrow) the partnership is dissolved so that both drivers could go truly independent with their own (owned bought) trucks. Or the agreement continues if everything is going smoothly and renewed for one/two years extensions.

I live in the Lehigh Valley of Pennsylvania about would be glad to kick this idea around over coffee if you local.

Of course I know this would be difficult but I am sure it has been done. I am not naïve to the risks. I am looking only for positive feedback here, anything is possible type of attitude.

Thanks drivers

Reaper's Comment
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Little word of warning o/o and leasing is a taboo on here. I learned the hard way lol.

Old School's Comment
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I am looking only for positive feedback here, anything is possible type of attitude.

It's kind of hard for us to tell you the truth when you dictate how you want us to answer you. confused.gif

Philly Fan 's Comment
member avatar

Thanks old school, just trying to avoid trolls. Reply how ever you wish.

Old School's Comment
member avatar

Thanks, I totally understand that. It's gonna be about an hour before I can do this, but I'll be back as soon as possible.

Errol V.'s Comment
member avatar

While Old School gathers his thoughts, here's mine:

A trucking job produces a livable wage if you drive full time. If you work your 7-on/7-off plan, by definition you'll be making half that. So those in-between gigs need to be pretty good.

There are some companies that offer that schedule, but, again, you're looking to make $15-25k in a year.

Also, the joys of owning your own truck can be discussed somewhere else. Starting out as an Owner/ Operator reminds me of Bre'r Rabbit and the Tar Baby.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Sam the Wrestler's Comment
member avatar

I personally see more risk than reward, especially if you're not going to run team. Not sure how either of you are going to make a profit, or enough profit to make it worth it because if it goes bad, it could go real bad. Then you may have to fork out money to enforce your agreement, and there goes what little you've made. Just my humble opinion.

Philly Fan 's Comment
member avatar

While Old School gathers his thoughts, here's mine:

A trucking job produces a livable wage if you drive full time. If you work your 7-on/7-off plan, by definition you'll be making half that. So those in-between gigs need to be pretty good.

There are some companies that offer that schedule, but, again, you're looking to make $15-25k in a year.

Also, the joys of owning your own truck can be discussed somewhere else. Starting out as an Owner/ Operator reminds me of Bre'r Rabbit and the Tar Baby.

Not sure why you linked a cartoon. Certainly has nothing to do with what I'm asking about. Actually inappropriate.

Thanks though for the other advice. So no one has been successful working this type of partnership.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Philly Fan 's Comment
member avatar

Little word of warning o/o and leasing is a taboo on here. I learned the hard way lol.

Thanks. Didn't realize it would be frowned upon. I guess I could un post it.

Rick S.'s Comment
member avatar
Thanks. Didn't realize it would be frowned upon. I guess I could un post it.

No prob. As the thread gets cranking and the discussion gets contentious - the entire thread usually just "disappears".

Rick

SAP:

Substance Abuse Professional

The Substance Abuse Professional (SAP) is a person who evaluates employees who have violated a DOT drug and alcohol program regulation and makes recommendations concerning education, treatment, follow-up testing, and aftercare.

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