Should I rent/lease a truck from Ryder or Penske?

Discussion in 'Ask An Owner Operator' started by 908AudiTT, Oct 22, 2013.

  1. 908AudiTT

    908AudiTT Bobtail Member

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    I go to college and I have about 3 months experience with Schneider. Before I get blasted about "staying in school", yes I am staying in school! I only got my CDL because I enjoy trucks and I want a back up plan, and I plan to start my own trucking business after graduating. Im 76% done with school so I'm not too far away from graduating in engineering and business.

    Anyway, my friend and I can get loads, so that's not the problem. I was reading about truck renting/leasing. Seems like a great option considering my position. Because of the HOS, doing it alone wouldn't be as profitable, so I will do team driving to get as many miles as we can during our breaks from school, i.e. winter break, spring break, summer break. This means I would need the truck sometimes.

    I've read the price for renting are around $800-$900 and leasing about $3000/month (which of course would save some money than just renting per week) and also about $0.18/mile and also additional insurances such as cargo. I want to get O/O experience by doing this before owning any trucks in a couple of years.

    So has anyone done this? How did it work out for you?

    Thanks! :biggrin_25519:
     
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  3. rollin coal

    rollin coal Road Train Member

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    You're not ready for it. You already think "miles & miles - more miles = more money - I'll get a team driver with me and run more miles".... WRONG..... it's about rates and running less miles for higher rates. There are lots of people out here who think like you that screw it up for people who know what they are doing. Lots of them running for nothing, or less than nothing, and going broke. You have zero knowledge of the industry you'll get chewed up and spit out like most of the others who thought about miles and miles. That is, if you can even afford to get insured. I know it ain't what you want to hear but you need to. It's not that difficult but there are company drivers with 20 years experience who can't figure it out. I predict rough roads ahead and several years of running in the red, if you can even make it thru the first 6 months, or first downtime, if you try to go thru with this foolish idea. It seems like a couple of times a month somebody posts a thread like this almost seems like a troll topic. Good luck whatever you do.
     
  4. Bakerman

    Bakerman Road Train Member

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    Any money you make will go towards fuel & truck rental.
     
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  5. snowwy

    snowwy Road Train Member

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    the fact you are thinking of RENTING a truck from penske or ryder. PROVES you are not ready to start a trucking business yet.

    you apparently haven't even looked at the fees. which will kill you more then a brand new truck and trailer payment.
     
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  6. 908AudiTT

    908AudiTT Bobtail Member

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    I understand what you're saying, but in my situation it's something I would have to do. Obviously I'm not looking to make a million. So what should I do? Buy a used truck with an extended warrant or what?

    I am tired of people saying don't do it. Then what should I do? Not have ambition and work for a company?
     
  7. 908AudiTT

    908AudiTT Bobtail Member

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    ... okay so even when I graduate should I stay idle? How am I supposed to start with a company if everyone is saying it's so bad of an idea? I am not an idiot, but apparently many think I am around here.
     
  8. Cummins_444

    Cummins_444 Medium Load Member

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    Forget renting.

    This is exactly what I did when I was in college. I worked all the breaks and summer months. I bought a truck. Paid $5,500 for a well maintain 1981 cabover. That truck never left me on the side of the road. At first I was only 19 so I ran grain and hay around Indiana. I started running flatbed once I turned 21. I tried the miles thing first summer over 21 after running 3500-4500 miles every week I was never so glad to go back to school.
     

    Find a nicely maintain truck cheap. That way it can sit while in school and not cost you anything.

    k100.jpg
     
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  9. 908AudiTT

    908AudiTT Bobtail Member

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    Perfect, you talk from your own experience!

    So you think I should buy a good cheap truck now, and use it during my breaks?

    Thanks my man!
     
  10. Cummins_444

    Cummins_444 Medium Load Member

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    Yep. You said you already have work lined up.
     
  11. 908AudiTT

    908AudiTT Bobtail Member

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    I have a friend (been friends for 7 years) and he's a broker, usually has loads from here to OH and TX and of course back.
     
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