Trucking Business 101: Can I Get My Operating Authority with a Rental or Lease Truck?
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- เผยแพร่เมื่อ 22 เม.ย. 2021
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Thoughts on this: 1.) I found I couldn't rent a trailer without 5 trucks or more in my fleet and 3 years active Authority; 2.) The authority needed to be active to get a truck; 3.) I realized that [renting/leasing (getting the truck)] could be done with [leasing (signing the truck operate under someone else's active Authority)] to a carrier since they would have the trailer is a much better option when starting-Landstar, Mercer, Fedex, Ups, or prime; 4.) Mirror what other successful people have done repeat that exactly; 5.) Become a dispatcher because it will show you how to get loads; 6.) Become a broker or agent with an owner operator company; 7.) Treat people well. Pay them accordingly.
Can you elaborate on 1) and 2)
Pretty cut and dry he laid it all out there . 1 They require you to have your company set up for 3+ years to lease a truck . 2 they won’t let you rent a trailer if you only have 1 truck
All those power only you listed don't do new authorities. Ryder lease and rent don't do trailers for solo; like you said... Amazon supposedly does power only sooner than the rest
It's the same even if you have a clear title on a truck... You gotta know someone or have a trailer. I had to save 16k and get a trailer, then went to mercer when CSA built up
My business partner and I are new to dispatching and trucking we recently started the process but felt stuck. After finding David on TH-cam and all his valuable information I decided to book his 1:1 consultation call and it was the best decision ever. He was punctual, informative, thorough, transparent, and most of all knowledgeable. David I wish you continued success with all your current and future endeavors! Keep up the great work and thanks again for your guidance!
Great to see you back. Please keep the videos coming.
Glad to see you back Man. Great information as always. Thank you
Welcome back david. Thank you so much for all you do for us. I have a suggestion. Write all your major bullet points on the whiteboard ahead of time. That way you can just point to them and it'll save you some time. Thanks
Great advice as always. Thanks for sharing.
And thank you so much for taking the time to talk to me today. It was a great call. Lots of great info. I truly appreciate it.
You can use your personal car (or any car) to start your authority. Insurance will be cheap so that you can age your authority before you buy/lease/rent a truck
That’s a good idea. Wish I knew that before.
So if i use my cargo van to help age my authority am i adding commercial insurance on it or regular auto insurance?? Are u adding the car just for aging the authority. What about inspections etc??
@@dameli1010 any more info on this I was thinking the same thing?
So is this possible I was having this idea with my cargo van?
@@jjjr243 I added commercial insurance to my cargo van and letting it age 3 months. Do the minimum insurance needed while aging. I'm about to start cdl training so I'm letting it age until I complete them I will launch my trucking physically
Awesome vids as always. Just wanted to thank you for your priceless information during our consultation. You definitely A1 in my book 💯🙏
Thanks for the info you definitely helped me make a smart decision!
You know it's learning time when David starts teaching.😀
It definitely was exactly what I needed to know. Thank you!
Good to see you after long time 😁
Thanks Mr McGill jus wanted you to know we have been watching since we started our business since last January it is growing already...also I have also started a consulting/ backoffice company to service motor carriers... I really learned a lot from you... thank so very much
What’s your email address? I would like to reach out
@@TruckingFromScratch trucknoffice@gmail.com
Welcome back!!!
Maintenance and road side assistance is included in most rentals. That’s a upside of renting
Agreed, and for any reason, you need to exit the trucking business. You can because you don't have a financed truck. You can return the rental truck and walk away.
@@j-power6061 Exactly!
You're very savvy and sharp Sir 💯
Great information thank you brother ✊🏿💪🏿💯
Yes very helpful answered just what I needed to know .
Very informative video! Keep the hood contact
Coming ✊🏾✊🏾✊🏾
Great job bro !
Yes it was thanks my brother appreciate it 💪🏽🙏🏽👍🏽💯
This is an EXCELLENT video
Great podcast
Great info....
This should help a lot of people
I use roetells for my truck and my motorcycles, awesome product!
You’re alive!
Actually very useful info.
I like your explanation bro
David, thanks man. What would the cost be to finance a truck? Also could you do a video on understanding the market? You mentioned it in this video. Thanks again!!
Hey i ran into a problem with progressive commercial insurance when trying to get blanket coverage, what insurance companies would you recommend for blanket coverage?
David best place to get a truck from and since you don’t have your cdl license how do you find your driver
Thank you
How do you calculate cpm when rent a box truck or sprinter van
Please keep making videos
Hey David what compliance company do you use thanks for the info!!!
Thanks 🙏
I just watched your video on getting your authority with a rental or lease. Would it be profitable to operate your business with all leased trucks? Not a short term but a continual lease? Thanks
Any loopholes for businesses under 2 years for leasing straight trucks?? Thanks.
How long do it take to get authority back once applied?
Hi David this is Gyna I subscribed to your channel and I have questions about loading the goods. Do you have to load the goods and unload by yourself?
The goat
What do you think is this best way to go.. ready to expand from one truck to 4 trucks. Should I buy used trucks or new trucks or should I lease new trucks.. want to attract drivers
Hi trying to get into the semi rental business , do you have any advice on how to get started ?
What’s a good place to get IRP started here in Indiana?
Hey David! Whats the best Chicago based company to lease under to build capital for your business
I would love to drive for an owner like you D.. Thanks for the great content.. Been watched for over a year.. All super helpful!
Question: Can I use my small suv to start a delivery business?
What are good loadboards in the West for box trucks?
Can you get authorization using a pickup with a trailer?
Do you allow owner operators to lease onto your authority
I feel like your video did not answer the intended question. I’ve ran the numbers for the past two months on renting a sprinter van charging approximately $2.50 per mile per DAT national average. It is hard to obtain profitability yes, but how do you activate your authority on a rental?
Exactly how do you do it?
It’s about insurance, you have to have your insurance or a insurance to use for the van. So find the company you are gonna lease on to or get your own insurance. Then get whatever else is necessary if needed if running on your own, llc, mc, dot etc
Have you figured it out? In most cases when renting sprinter vans or box trucks insurance is already attached by the leasing company. Please help!!a
@@Suziee_Suee when renting you need your own insurance $$$
I activated my ins with a truck vin I got online. Then u modify the rental truck vin once ur in the actual rental.
Can you tell me some company that I could lease a truck from just trying to get started
David, Awesome information like always! Please make a video about renting vs buying trailers when starting.
I was thinking this same thing
Can I have a person who wants to lease under me with a leased truck get a DBA as my company name so when they get truck lease they can use my insurance policy as proof of insurace?
Why do you need insurance if you're renting a truck? They already have a loss damage waiver (LDW) offered when you rent. I know there cargo insurance, but why commercial vehicle insurance?
Do you think it's profitable to run box truck out of Indianapolis and to be home daily ?
David, can you send a employee to a job that is asking for owner operators???
How much you pay for insurance a month and who are you insured with brother?
Could you rent a truck and run under someone else authority and be profitable? say I want to run under my boys dot but I don't have a truck could I rent one and profit say if I cut him 15% of my earnings a month. Plus rent on the truck.
When starting out do you think it’s best to start off interstate or intrastate
Interstate
Do you help getting authority packages? Or recommend a place?. I just bought 1st truck and trailer got the llc and waiting on the ein. Been watching your videos looking for good advice
Any advice, in Illinois they won’t allow me to purchase my truck without hiring a driver first?
@@CHICAGOBASEDGOD bro be the driver. Just get it up and running
When renting do i have to including the collision and comp deductibles on my insurance for who I'm renting from?
Lol
is their any way i can talk to you please let me know i have few questions to ask.
Budget (and other rental companies) dont want to rent me a truck if i plan doing more than 100 miles a day. Well, I want to do over 2 thousand miles a week. Can anyone advise me on this? I'd greatly appreciate it. thank you.
How do you attract drivers?
Anyone knows of a company that will allow you to rent a semi-truck with new authority?
I tried COOP but the DOT must be active for at least a year. Penske and Ryder will with new authority but much more expensive deposit
Good question that is the Question that brought me to this video. Looking for info on different companies down payment and and weekly charge for a rental semi
CTI INSURANCE
Good afternoon, my name is Morris. I've been in the industry as a company driver for a little over 4 years and I'm doing my research before starting my own company.. I found your TH-cam channel to be very informative. I wanted to reach out and see if you do consultations. Please reach out when you can. Thanks.
Great.. trying to get in the game with the minimaless overhead as possible.. not trying to get rich just earn a living and free up schedule in the same time.
Doesnt insurance help or pays for a rental ?
Can you get authority without truck?
What’s up David. I’ve been watching your YT for a few weeks now. I just filed for my LLC this morning but I’m not too sure on how to move forward
Good job, you can schedule a consultation w me if you would like. The information is in the description of my videos
Great content....my Uthority went active...penske has me at 675 week 11 cent mile......can you get brokerage n book.yiur own loads??
You can tell this guy smart just from the pamp bar on his neck
Yea, I was thinking on this same subject. But, I don’t see it as profitable. Due to the issues of a “new company. “ plus, why pay a 6k on a rental. when that 6k can be added to a down payment on ur own truck.. I’m still waiting, myself.. but all information is great even just to play it out in ur own head. Thanks McG..
some people do not want the headache. they lease the truck
No shyt lol
You do broker consultations?
Any advice, in Illinois they won’t allow me to purchase my truck without hiring a driver first?
That’s BS.. but, u should have sumone .. who can drive to get u a pre buying advise, of that truck value of making u a profit.
FUNDING
@david. Hey man I've been following all your videos and was just curious who do you recommend for an insurance company for beginning trucking companies and what is a rough estimate for that payment.
I'm not sure where you got the $1,000 per week rental rate, but I got written offers for $490 per week (maintenance included) + $0.15 per mile
so your numbers for rental are over inflated.
If you drive 2500 miles per week (which is very realistic) at your current written offer, that’ll be $375 plus your $490 equals $865/week so it’s not as far off as you may think.
It’s actually not inflated if u do some research
Who are you renting from?
what about uHaul trucks
Can I use my DOT from my old job to drive my own company truck??
Use the DOT # that belongs to your old boss?
Noooooo. You have to get your own.
And I was informed that you have to be in business for two years in order to be able to rent a semi for your business.
Hey David, I appreciate what you do on here. Also I would like for you to know that I believe someone made a mock page impersonating your page and channel. I clicked on the page and it has zero subscribers. And no videos. They commented on one of my comments on another trucking video
Thanks for the heads up. Can you send me a screenshot to info@mcgillcfo.com? Thanks
@@TruckingFromScratch yea definitely.
Which information??
hey i ordered the trucking loss and profit off your site but the excel file is locked how can i get this fixed. couldn't find any other contact for you thats why im messaging you here.
What’s your email? I’ll send you the password
@@TruckingFromScratch logistics@leahing.com
Hey David very helpful vids i been watching for a couple months now, i have a question i'm looking to go O/O in the next few months, can you get your own authority first before having a truck just to get that part out the way to be ready for when you do purchase a truck?
Yes
If I remember correctly… you need proof of insurance to finish off the requirements for getting that Authority
@@ALL4SCUBA05 oh ok that makes sense and you would need something (a truck) to insure. So the answer no, you need the truck before
Can you just operate with your ddot until you get the authority
Good Morning Bro 🙏.. Good To See You Again.. As Always Good Info. I Have A Question , Is There A Way I Can Contact You I Am Getting Ready To Start This Trucking Business So I Can Get A Little More Info.. Thanks 😊🙏
Yes, the contact link is in the description
💙
Can I get my operating without having or renting a truck
Please do a MC authority reinstatement process video!
Is that truck rental include maintenance?
Yea
I know what a vin is but how u know the value? As in the price of the truck?
Call rental company and ask
@@benayahisrael2118 shalom ach...that's all I wanted to know when they said value if they meant the price
@@TayG_9Deuce shalom ahch. I just went thru all that today. They want to know the value of the truck if it was sold today. If you’re renting from budget it’s prolly around 40k
👌
Can’t you just rent for a week, get authorized then get your truck?
I saw in one of your videos that you do taxes for trucking company. How can I get you to do my trucking business Taxes?
You email him.
Ryder you to lease from them you have to be in buessniess for 5 years or more
Yeah but how?