Starting a New Motor Carrier Trucking Authority in 2023 and Paying the “Stupid Tax”

Here's what I would do if I was starting a new trucking authority in 2023 and why opening a new motor carrier authority will undoubtedly lead to truckers paying a lot in "stupid tax".

I'll also give you a free new entrant safety audit checklist and an email giving everything you need to get your state permits for KY, NY, NM, and the Oregon bond. I plan to update it with permit information for CT as well.

Just text me your name and email address and I'll send it out to you.

Call or Text [phone]

[phatmike]

Ty! Good video. Celebrating 90 day’s authority today. !!! Thank u for the helpful Information! Michael.

[KING-LEO]

Thanks for the info.i been driving for 27 years almost 3 million safe miles.i do own my own truck and currently leassed on to a smaller carrier .thay do will by me but if that ever changes i would have to check these people out.lots of good info.thx again

[ausdlantein]

Good video however since I started the truck industry back in 2016 people always says market is bad bla bla wrong time to jump bla bla just started when you are ready

[skipdegraff]

I'd really wait. It's April so there's that, democrats on power, rates on spot market stink, insurance is high, fuel is high, equipment is high but coming down.

Yeah I'm saying be company driver for the spring and reconsider. Probably try end of summer and actually rolling out just before peak season. IN A GOOD YEAR

[djja]

There was a big gold rush of drivers becoming o/o when fuel was cheap and rates were good because shelves were empty. (Please note that the market is terrible right now and o/o are dropping like flies due to high fuel and repair cost coupled with low rates.) Many of those guys actually did the lease to own thing with the carrier they were already working for as company drivers, and many of those lease to own deals were terrible if you looked at the numbers (C R England lawsuits), but the only number the trucker cared about was the cpm.

Some of those guys got bankrupted by their misleading and crooked lease to own deals (see C R England), or by the company preferring to give loads to company drivers while sticking leasers with the bills and keeping them on standby until they were needed.

There might be a good way to become o/o by working with the company that you company drive for, but you need to look at the numbers first, maybe save up some cash as down payment to have less financing on the truck, and talk to some drivers that already lease to own for the company because the truth is that the company can really screw you by not giving you the loads you need. If you save up some money for your own truck with less financing, and maybe get a lower price on a used truck, then that can save you tons of interest. Also, if you pay for the truck and don't owe on it, then you don't have to worry about keeping enough cash flow to constantly make that payment on top of all the other insurance and fees. Also, if you are taking out loans, then you need to plan to stay on the road and drive, because you are going to need that cash flow until you pay down some loans. You can't just take time off whenever because you are your own boss if you have loan payments because the bank will become your real boss.

Then there were guys that legit bought a truck, probably still with a loan, but didn't have to go through a crooked megacarrier's lease to own program. Like the other brand new o/o discussed above, many of them still financed way too much and then blew money like ballers instead of saving for a rainy day, putting money aside as a repair fund, or paying down their loans and debts. Now that the market is terrible, they can't make the payments on the truck, insurance, or to replace a blown tire. Maybe some should have invested in some accounting services or legal services, since o/o don't just drive, they have to run a business as well.

Then there are the guys that take loads for rates that barely pay the fuel cost because the market is terrible, and they don't think about their average repair cost per mile, insurance payments, or that they need a profit if they are going to eat and pay the rent for their family.

This is not a good time to be o/o. It might be better to company drive right now because the costs for o/o are so high and the spot rates are so low. Stop taking cheap freight. Tell these greedy brokers they don't get 30 or 40 percent just to post on a load board. Don't get sucked into a loan program where you have to keep taking cheap freight just to barely make your loan payment. You might be better off just working at a warehouse or as company driver right now because working just to pay loan interest and fuel will bankrupt you.

[Not-by-sight]

I watch every week the only stupid question is the one never asked. As always great video my opinion maybe the the best

[kevinimp]

the best advise you can give people is not to start a company at this moment wait for things to get better

[arunevaiciulyte]

I think they should verify how long that person has been pulling loads and how long the driver if he's the owner has had his cdl, its many ways that a person can get their truck and get loads through another carrier and self dispatch with your own bobtail insurance for a year or two until your mc ages, its a company I know of now that uses your mc# to approve you for a truck no money down and even a trailer, it's sometimes good to talk to people and inquire because it's companies providing great trucks for 10k down with only your cdl. It's so many ways to get a truck and start by using someone else's authority at first but at a fee of course. I'd suggest to anyone that they don't go put down $59k on a truck right now

[truckerpov]

Great advice. I would like to use your services in the news future. But please lower the background music volume you dropping these gems and the background music is killing it.

[arunevaiciulyte]

Idk but I've been looking and power only loads are paying more than a typical load right now and most of the times I'll see about 700 loads leaving a state and it will be double or triple power only loads

[iamfig]

Do I have to have a dually to get an mc number? I have a pickup truck that is payed off. But it is not a dually. Is there a market in hot shot for freight hauling with a half ton truck?

[terrell]

Vitaliy Question im an owner operator with 2005 and 2007 Frieghtliner Century and Columbia both are pre egr trucks. I don’t have any major problems with my truck since its no emissions. Im lease on with a carrier right now. Im ready to take it to the next level to get my own authority. Start off doing power loads only. I have the funds and to start the process. Both trucks are paid off and i have no debts no mortgage and credit score is 800. Its been a long journey to be in the trucking industry in 20 years. Im in this for the long term. Will it be wise to start around this time regardless with the freight rates?

[ducks]

Great video. Just finished my first round trip as an owner op. Barely broken even lol

[Imbrokeaintgotit]

Do you guys dispatch for drivers with ray cab thanks in advance

[RICHSLYDER]

Do you work with new carriers flatbed?

[MXXMXX-xmlj]

Got it talk to you later . Do you help with getting driver's