I'm all done with trucking ! How to shut down your trucking authority in 2022
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- Опубликовано: 13 июн 2024
- #trucking #authority #owneroperator
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Thanks for the information
I need your explanation on this please,
I have over a year with my authority, some broker keep telling me the can’t work with me because I do not have DOT inspection on file yet.
Some people says I’m the one who have to add dot inspection on file and others says It’s about Random DOT officers inspection.
What’s your idea on it.
Thanks in advance
Can i cancel the insurance even if i have 4 months left on the contract?im thinking about shutting down and going back to my old job,i was thinking of keeping liability until i sell the truck what dobu know about it?
Struggle is real !! I don’t do OTR little lone foot the bill for my own truck. Seeing my O/O friends struggle I’ll stick with my hourly dump trucking job and be home every night. At 49 an hour and plenty of OT if I want it, it’s a no brainer. This economy is dealing havok
The essence of wealth is finding an easy solution to a hard problem. I understand now general freight trucking is a hard solution to a easy problem. It takes a tall man to admit defeat, but now we all have a opportunity to try something new. There’s money everywhere, you just got to find it.
ty btw
Professor DiySemi
Lure em in with a thumb nail.... F' em with a video
Thanks I’m about to stop my authority running off the Loadboard has run me down. After diesel you don’t have enough to maintain the truck and business. Glad you made this video for us
Another great video for motor carriers. Thanks DIY!
Thank you so much for this great video. Im an OO in Cali and its becoming harder and harder each day. I just requested cancellation of my insurance and glad that I came across your video. I will now be working as a company driver and now not worrying if there will be work for me. I run local and again it used to be good. Rates are dropping and there are weeks that I only have 2 runs. I think im making the right decision and like you said, its always there if things got better in the future. Easier to reinstate it. Thank you again!
I love how there's a "translate to English" option on Cash's comment🤑🤣😝
He's sketchy
Great information. Many companies are struggling trying to make this decision. Very much worth watching this video.
Great info DIY.. stay safe my brotha!
Thanks so much for such a great explanation
Rather than shutting down an authority, I have lost my mind in 2022 and am looking to get into the O/O or trucking/driver industry. Why do this? I am retiring from my desk career, and believe that transportation is at least a viable career in semi-retirement, and can bring some basic monthly cash flow if managed correctly. I'm a new member with Adam, as I welcome his wisdom, experience and insights. As a fellow Badger, I'd hope that some of us locals could meet up sometime, and talk about the business of logistics and trucking. Cheers to all newbies (myself) and the grizzled veterans here.
Thank you for doing this Adam.
Good advice Adam. The average driver can make $250/$300(more if you want to actually work) a day without doing a whole lot of anything. If you are not netting that as an O/O it’s probably a good idea to suspend operations or shut down and take a driving job.
Unfortunately😜 I have dedicated freight 50-52 weeks a year and make a comfortable living. But! At 55 years old I would gladly trade my business for a driving job that would give me some flexible extended time off. As I get older it’s more about quality of life and not money.
Thank you for your help because your videos are very simple and you go straight to the point.
Very informative video. Thank you for the tips.
great info. Thank you
Hey now
This might be really good timing for some.
Click bait title but because it's you I'll allow it 😉! I'm parked now but still active. Working for FedEx Ground contractor and it's a mess.
Gotcha
Great information.
Awesome video. Thanks!
Welcome
Very helpful video Thank you
Great job on the video !
You got my attention with this video title🤣
If you are genuinely struggling just stop and do something else while you still have the chance. Don’t be stubborn and end up losing it all. These brokers do not care about your feelings and bigger fleets will run their trucks harder as this storm progresses. There isn’t enough cream to support the solo guy anymore.
Yep!!
Thanks 🙏
The Canadian trucking industry is BS.
Great big loads and little compansatoion.
Fuel is sky high and I will not tolerate this BS .
Best deal on the game is not selling out and grind harder and adjust to society
Good information. Don't forget to deactivate yourself and you drivers from your drug and alcohol consortium. You could find yourself being reported to the FMCSA for a refused random just for not checking your email. Bad spot to be in. Also remember those ongoing subscriptions to load boards, ELDs, etc.
People charge for information like this. Good job 👌
Anyone can send some gratitude ($cash$) with the super thanks button.
Donate to him without him asking for it. It’s the best that way.
you are too kind
wooooo !
Are other drivers noticing the truck stops not being as full?
Just look at dealerships and auction houses. Trucks a plenty.
@@markm0000 I'm a TA doing my 34
Lot is over half empty
It should slow down even more
This why box trucks the wY to go
DIY is the Glen Beck of trucking.
Lol... Get me on Fox news. Buy gold. Be Mormon
ty btw
Lowering insurance to 750k liability while dropping cargo will get picked up by carrier411 people, they will put a mark on their system for brokers to see, unless cargo insurance is kept on file. Once you decide to reinstate your authority and raise coverages brokers will tell you, you are showing up as a new authority.
Quick question, do I need to close my bank account when I close my trucking company? Also, I just want to close my trucking company but not the back account of it since I want to still my use my bank account and change my business from trucking to another one and still be able to work and get 1099 to my company.
Great video i have a question Adam im thinking about purchasing another truck as a back up truck for when my trucks engine goes out i have progressive , when i purchase that 2nd back up truck im going to need insurance but its going to be parked in storage intill i need since its getting financed and won't be a cash buy wont i have to pay Auto on it while it sits in storage and won't that make it not worth buying ? Im having trouble figuring this out maybe you can help me understand how i can do it thabk you
My insurance company lets me assign one truck to "spare truck" allows me to fully cover it at a lower rate and use it when another truck is down or whatever
Diy ive followed you for years , i think ive met you on the road. Hope your not giveing up .
No Sir
What if I was never active but I purchased my authority for $300? Never got insurance.
Nothing you need to do if you didn't activate it
How long you done this for , cause that’s my thing👉🏾I want to get it now but be 2023 misseson before using it
Hi questions. When I close my authority can I rent out my trucks? I want to learn how to rent them to someone.
You will need a lawyer to make a contract for you
What if you just want to run in the state in which you reside? Can you cancel the MC and do only US DOT? Is it cheaper on the insurance costs?
you can do that. insurance will depend on what state it is. some are very high
I'm thinking about leasing to a company and I have my authority now. Can I keep my authority active and keep my plates and just cover up my name and numbers and put least to over
yes, but your permits will need to say the new company on them
I hung it up
After 7 years over no more owner operators that model is over
If i just started my authority is not authorized yet was only left to put insurance liability and i signed lease program under onother company authority can i keep it for one year if not guaranteed yet what option i have
You can just leave it. Nothing you need to do
👍🏻👍🏻😎
Are all these steps applied to Broker authorities as well?
Like IFTA as you mentioned they will come after you.
not alll
If I’m leasing on to another company can i keep the same plates or i have to get new ones?
You can keep them. Just have to have carrier put on there as carrier responsible for safety
@@DIYSEMI Okay thank you.
Hi. Does that oce 46 take care of the Mc # also?
you gotta watch DIYs getting your authority video
That's what it's for
Bi brother I’m in a bad situation with my factoring RTS company, I signed up just couple of weeks ago. I took one load with them, then I hire a dispatcher and where I live there is a good load that pretty much available all the time but RTS don’t work with them as they pay within 46 days, so my dispatcher suggested me to switch my factoring, now RTS SAYS I’m in 1 year agreement… I think I have to pay them or sth
what is your advice ?
Thanks I’m advance
If rts won't work with a broker there is probably a very good reason. Beware of that. If u signed a contract you are bound to it. Any reason you can't work the broker without factoring it? Wait the 46 days or take quick pay?
@@DIYSEMI thanks for replying, I can’t afford waiting 46 days right now just bought a trailer. But idk about the quick pay I’ll look at it. I was doing amazon for a while never deal with these things. Thanks again sir
@@truckandtea Just ask the broker about quick pay and what they charge on quick pay
@@dispatchbusiness3653 it’s a direct shipper n they don’t offer quick pay. And since they pay within 46 days RTS won’t accept them. But I solve it for now. And learn a hard lesson with factoring company contract. RTS is worth. gotta make a cancellation notes 3 month before renewal or they auto renew for you! Never recommend it. Thanks for your comment tho, appreciate it
If I do my own IFTA on a lease do I just keep doing it as always
is something changing? are you quitting ? need more info
@@DIYSEMI I’m dropping my authority and leasing on to a oilfield company thanks for replying I don’t usually get that
I am keeping my plates I did put their name on my cab card as them responsible for safety I will have insurance through them too
U can keep your own ifta if you want. Would need to provide proof to the company you lease on to. I would go under their ifta. Easier for u and should be no extra cost
Video idea that might seem like a bit much. You seem like the kind of person who does their own taxes. Maybe mock up some numbers for a 1 man O/O and do them step by step on some office software like trucking office or whatever. Just a thought.
You like to see me work dontcha? Lol