Owner Operator Lease Purchases:
This option is used by many individuals to get started in the business. Some
people have commented the transportation company offering this lease purchase program usually tries to pass off
their almost worn out equipment to unsuspecting excited individuals just wanting to be in the trucking business as
an owner operator.
We've heard the comments that the transportation companies will try to control the
owner operators in their programs by demanding their freight is moved first before the owner operator can commit to
haul freight for other brokers and shippers.
Comments like this are probably true in some instances but as with most things
purchased it is buyer beware. You have to do your homework and ask a million questions before signing the dotted
Increase your odds of getting a good used semi-truck by insisting a 3rd party
asset appraisal service perform a valuation inspection on the power unit. You may have to pay for the inspection
and valuation but it could be money well spent.
If the transportation company does not allow you to have a 3rd party valuation
assessment performed on the big rig tractor, we hope the red flag came up immediately as maybe this company is in
fact not the one to partner with as you try to be successful.
There are good owner operator programs out there for you to succeed. You just have
to smoke out the bad ones by asking questions and requesting valuation inspection of the offered
In respect to a transportation company wanting you to take care of their freight
loads first, where is the problem in being loyal to the company who gave you a chance when others may have shut the
door in your face?
If they have met their contract agreements with you, sold you a good semi-truck,
have helped you be successful and have continued to treat you fairly, why would you not want to make sure their
freight loads are moved first?
Purchasing A Used
Semi-Truck: Get a 3rd Party Inspection and
While you are trying to decide "do I purchase the coolest looking semi-truck on
the road as a chick magnet or do I buy the truck with the design that gives the best gas mileage and ride; don't
forget to put a 3rd party truck inspection and valuation as the next important item on the list to
I know you're blinded by the pretty shiny wax on the tractor while thinking why
should I spend money for an inspection when the salesman or the rep of the owner operator program has told me
this is the best used semi-truck on the lot.
The first questions in my mind to ask either of these individuals who are most
likely not certified mechanics would be:
- Can I see the front end inspection report because I don't want to be throwing
away my profits on needless tire replacement due to front end problems like worn out king pins and
- Was the special computer software used to verify the miles shown on the
odometer are the actual true miles?
- Can I see the inspection list of items most likely needing reconditioning
based on the true miles driven?
If they give you the look of a deer blinded by headlights and start saying uh, you
definitely may want your next question to be the one requesting that your 3rd party inspection/valuation team be
allowed access to the truck for sale or lease to complete the valuation process.
Even if the information relating to your questions was produced, you may still want
your own team to inspect and give you an valuation opinion before you sign the dotted line.
You are, after all, committing thousands of dollars for a used semi-truck and
there is no way you want to find yourself sitting idle in the service department's waiting area for a part on your
just purchased used truck to be reconditioned.
It is of course your decision but we do
recommend that since you will most likely be spending thousands of dollars for a new
or used semi-truck; you should create a team of advisors.
The team should start out consisting of a trucking accounting specialist, a
truck finance specialist and a 3rd party inspection / valuation company to help you make the best decisions related
to your purchase of big rig truck or fleet of semi-trucks.
Once you sign the dotted line and become the proud owner of your semi-truck; you
will need to add a big rig service company with certified mechanics to your team to satisfy service provision
requirements spelled out in your loan or lease documents.
BigRigCentral hopes you found the information helpful.
Those first important decisions related to big rig financing options and
semi-truck inspection / valuation process may determine whether you are indeed successful in the trucking
Your semi-truck in the shop with you paying an enormous repair bill right off the
bat or you leaving thousands of dollars of tax deductions on the table could put you out of business before you
really get started.