Apr 12, 2024

The Most Desirable Truck Stop Amenities

The Most Desirable Truck Stop Amenities

We asked our community of nearly 1 million truck drivers to give us their top choices of truck stop amenities.

Do's and Dont's of a Trucking Lease Purchase <p>Starting your own trucking business as an owner-operator can be a big dream. One of the main hurdles you'll face is getting a reliable truck. Trucks are expensive, and only some in the trucking business have enough money to buy one upfront. </p> <p>Lease-purchase trucking is an option if you want to work towards owning a truck while gaining valuable driving experience. However, these programs have rules, and they might not suit everyone. </p> <p>Given the new <a href="https://www.trucking.org/news-insights/trucking-reacts-biden-administrations-independent-contractor-rule-and-renomination">Biden regulation</a> on independent contractor classification, much has been talked about lease purchase decisions. </p> <p>The American Trucking Association (ATA) strongly opposes the recent Biden Administration rule on independent contractor classification, criticizing the decision to replace a clear standard with a more complex one. </p> <p>ATA President Chris Spear expresses concern about the potential negative impact on the trucking industry and workforce choice, especially for the 350,000 truckers working as independent contractors. </p> <p>Despite the administration's arguments, the ATA asserts the vital role of independent contractors in the economy, pledging to work with stakeholders to oppose the rule. </p> <p>In the end, it should be well thought out by the person getting into a lease purchase program. That’s why we have a detailed guide on what you should and shouldn't do when considering a lease-purchase trucking arrangement. </p> <p><strong>What is a lease purchase program?</strong> </p> <p>Lease purchase programs are like rent-to-own plans designed for truck drivers. The trucking companies that lease and sell trucks also manage these programs. </p> <p>In a lease purchase program, you make an initial payment for a truck and keep making payments for a certain time. While making these payments, you can also work for the company leasing the truck. Once you fully pay for the truck, it becomes yours, and you can use it for your trucking business. </p> <p><strong>Two kinds of lease drivers</strong> </p> <p>Before we dive into the main part of this article, it's important to know that there are two types of lease drivers. </p> <p>1. A lease driver who goes for a <a href="https://roadlegends.com/blog/post/lease-purchase-trucking-companies">lease purchase trucking company</a> and uses their freight. </p> <p>2. A lease driver who leases from a commercial equipment financing company and arranges their own freight. </p> <p>You can choose either option, but many drivers find it simpler to lease with a trucking company, especially if they're new to leasing. </p> <p><strong>Do’s of a lease purchase program</strong> </p> <p>Stepping into the lease purchase program as a truck driver is a significant move that demands careful consideration. In this section, we'll walk you through the essential "do's" to set you on the right path for a successful and fulfilling journey toward truck ownership. </p> <p>1. Do your homework </p> <p>Before you sign a lease agreement, it's essential to do some research and find a company that matches what you're looking for. Check their policies on time off, the availability of freight, and the expected pay. </p> <p>Leasing from a carrier means you have the support of that company. They provide tools to help you, and you'll have access to the freight they offer. Their program will be designed based on the type of freight the carrier transports, giving you a good idea of potential earnings. </p> <p>Leasing independently from a commercial equipment financing company and working for various freight clients can be challenging, especially if you're new to leasing. While you can earn significantly more than with a carrier, there's also the risk of earning much less. </p> <p>Also, find out what kinds of trucks they offer. They might have limited options, and you'll need to look elsewhere if you want a different make or model. </p> <p>2. Go through the contract thoroughly </p> <p>Review the agreement thoroughly before signing, as many drivers face financial difficulties due to overlooking terms they didn't understand. If the contract is complex, seeking guidance from a contract lawyer is wise. </p> <p>Investing in a lawyer's expertise now, even with a small fee, can prevent potential hardships down the road. Understanding the terms and conditions ensures you know your commitments and rights throughout the lease agreement. </p> <p>3. Choose a good company to work with </p> <p>Leasing provides freedom, but it also brings significant responsibilities. While picking your own freight is nice, making wise choices is crucial to avoid problems. You'll need to make decisions that benefit your business, even if it means spending more time on the road. </p> <p>Before committing to a lease, thoroughly examine the leasing company and ask to review a sample lease. Ensure there are no unexpected terms or costs, and feel confident about working with the company and transporting their freight. </p> <p>4. Have a bookkeeper </p> <p>When you start your lease-to-own trucking adventure, having a <a href="https://www.atbs.com/trucker-path">bookkeeper and accountant</a> is crucial. Before you begin, discuss your budget with them to get their advice on managing taxes and other business costs. </p> <p>They can guide you on which expenses to track using receipts. Once you've set up this connection, use their expertise; after all, they are professionals for a reason. </p> <p><strong>Don’ts of a lease purchase program</strong> </p> <p>Starting your journey toward truck ownership through a lease purchase program can be tricky. To make sure things go smoothly and you don't end up facing unexpected problems, let's explore the things you shouldn't do. These pitfalls might hurt your wallet and your dreams of <a href="https://cdlworker.com/blog/owner-operator-jobs">becoming an owner-operato</a>r. </p> <p>1. Take your time, don't hurry </p> <p>Starting your journey toward truck ownership through a lease purchase program requires careful consideration. Don't rush into deciding about the lease. Take your time to understand the terms and conditions thoroughly. </p> <p>It's a significant commitment, and being in a hurry might lead to unforeseen issues that can cause financial troubles or other complications down the road. Spend time checking every aspect to ensure the deal aligns with your goals and financial capabilities. </p> <p>2. Don't disregard insurance coverage </p> <p>It is essential not to overlook the critical aspect of insurance coverage when engaging in a lease purchase program. Ensuring that the leased truck has comprehensive and adequate insurance coverage is important. </p> <p>Neglecting this consideration can expose you to significant financial risks, especially in the unfortunate occurrence of accidents or unforeseen incidents during your trucking operations. </p> <p>Having good insurance coverage acts as a protective shield, providing financial security and mitigating potential liabilities that may arise on the road. Therefore, thoroughly assessing the insurance coverage for the leased truck is a proactive step toward safeguarding your lease. </p> <p>3. Don't ignore industry trends </p> <p>Staying well-informed about the latest industry trends is of utmost importance. Ignoring these industry dynamics can profoundly impact your decision-making process, influencing not only the terms of your lease but also shaping your overall business strategy. </p> <p>Recognizing and adapting to emerging trends is instrumental in positioning your trucking business for success, ensuring that you are well-prepared to navigate the ever-evolving landscape of the trucking industry. </p> <p>4. Don't skip customer reviews </p> <p>Conducting thorough research into customer reviews about the leasing company is crucial in the decision-making process. Disregarding valuable feedback from fellow lessees may lead to overlooking potential challenges or advantages associated with the services provided by the company. </p> <p>Customer reviews offer insights into the firsthand experiences of individuals who have engaged with the leasing company, providing valuable information that can influence your choice and contribute to a more informed decision. By actively considering and analyzing customer reviews, you can gain a comprehensive understanding of the leasing company's reputation, customer satisfaction levels, and potential areas of improvement, ensuring a well-rounded assessment before entering into a lease agreement. </p> <p><strong>May you make the best choice!</strong> </p> <p>Now that you've gone through the do’s and don’ts of the lease-purchase in trucking, we hope it helps you make the right decision. Becoming an owner-operator through a lease purchase program needs careful thinking and smart moves. By doing what you should and avoiding what you shouldn't, you set the stage for a successful journey. Think of it as a roadmap to owning your truck and making it big in the trucking business. </p>

Jan 17, 2024

Trucker Path Levels the Playing Field Between Large and Smaller Brokerages <p><em>New Trucker Path for Brokerages offering enables small to mid-size freight brokers to dispatch, track and manage their loads while growing and retaining robust carrier networks</em> </p> <p><strong>PHOENIX – April 03, 2024</strong> – Trucker Path, a subsidiary of leading global SaaS provider Moatable, Inc. (NYSE: MTBL) and the most comprehensive and relied upon mobile app for North American truckers, today announced Trucker Path for Brokerages. The new offering will enable small to mid-size freight brokers to dispatch, track and manage loads more efficiently and effectively to better compete against larger, more resource-rich brokerages. </p> <p>“Built for small to mid-size brokers, Trucker Path for Brokerages greatly simplifies the process of dispatching, tracking and managing loads awarded to carriers by freight brokers,” said Chris Oliver, CMO at Trucker Path. “By enabling significantly enhanced visibility into load location and status, it improves productivity and shipper satisfaction and streamlines processes to simplify operations. Trucker Path for Brokerages will help smaller brokers differentiate themselves and compete for carriers and customers like their larger competitors.” </p> <p>Trucker Path for Brokerages enables small to mid-size brokers to enjoy advanced features that streamline the interactions between the broker and carrier while making them both more efficient and productive. Providing their own customized version of the Trucker Path app to their carrier network gives brokers the ability to dispatch load details directly to drivers and track the progress of loads via an easy-to-use dashboard. Once deliveries are completed, the driver captures and uploads paperwork using the document scanner in the app for immediate processing. </p> <p>“The value of Trucker Path for Brokerages extends beyond replacing cumbersome, manual, time consuming and error-prone freight management and paperwork processes for freight brokers and their customers,” Oliver stated. “For small to mid-size brokers, it also increases efficiencies and carrier satisfaction. </p> <p>“Carriers also benefit from all the productivity tools the Trucker Path app offers the nearly 1 million North American truckers who already rely on the app regularly for truck-safe navigation, destination entry/exit guidance, real-time parking availability, fuel discounts, and more,” Oliver added. “It helps make life on the road safer, easier and more productive for drivers while also helping improve recruiting and retention for brokers.” </p> <p>Trucker Path for Brokerages is available to small to mid-size freight brokers at very affordable pricing. More details can be found at <a href="http://www.truckerpath.com/for-brokerages">www.truckerpath.com/for-brokerages</a>. Brokers attending the TIA 2024 Capital Ideas Conference April 10 - 13, 2024 can visit the Trucker Path booth #116 for more information. </p> <p><strong>About Trucker Path</strong> </p> <p>Phoenix-based Trucker Path, the provider of a wide range of truck driver-centric mobility products, is a subsidiary of leading global SaaS provider, Moatable, Inc. (NYSE:MTBL). The Trucker Path app is currently used regularly by nearly 1 million professional truck drivers. Offering best-in-class navigation with truck-optimized routing, the Trucker Path app also provides access to vital up-to-date information about truck stops, real-time parking availability, fuel prices and discounts, weigh station statuses, and truck scales and wash locations. The company also offers TruckLoads, a digital freight exchange that connects drivers, carriers and brokers; and COMMAND™, the industry’s first and only Operations & Driver Relationship (ODR) platform that provides small to mid-size fleets with the necessary driver and TMS technologies to successfully run a fleet. For more information, visit <a href="http://www.truckerpath.com">www.truckerpath.com</a>. </p> <p><strong>Media Contact:</strong> </p> <p>Susan Fall </p> <p>LaunchIt Public Relations </p> <p>619-890-9415 </p> <p>susan@launchitpr.com </p>

Apr 03, 2024

The Basics of Commercial Truck Financing and Refinancing <p>Whether you're an owner-operator looking to upgrade your rig or a budding entrepreneur looking to get into the trucking industry, the first step is always to understand the basics of commercial truck financing and refinancing. </p> <p>This comprehensive guide will walk you through the essential steps of dealing with commercial truck financing and everything in between! </p> <p><strong>1. Finding Your Truck</strong> </p> <p>Before diving into the financing process, it may be helpful to narrow down the specific truck and price of the truck you want to purchase. Having more information about the truck can help round out your loan application and expedite it. </p> <p><strong>Brand New vs. Used:</strong> Brand new trucks offer the latest technology and are covered by longer warranties, but they come with a higher price tag. Used trucks may be more budget-friendly but will have a shorter warranty period and require careful inspection to ensure they meet safety and performance standards. </p> <p><strong>Amenities:</strong> Depending on your business requirements, you may require different amenities of the truck. Some truckers prioritize comfort features for long hauls, such as sleeper cabs, while others focus on fuel efficiency and payload capacity. </p> <p><strong>Budget:</strong> Establish a realistic budget by considering not only the upfront cost of the truck but also ongoing expenses such as maintenance, insurance, and fuel. This will be crucial when determining the financing amount you need and not financing more than you can afford. </p> <p><strong>2. Types of Semi-Truck Financing</strong> </p> <p>There are many different types of financing options available and understanding the different options allows you to choose one that is best aligned with your business goals. </p> <p><strong>Debt Financing:</strong> These are typically business loans and involve taking out a lump sum that you will repay over a set period with interest. Debt financing is suitable for purchasing a truck outright, giving you ownership from the start. </p> <p><strong>Equipment Financing:</strong> Tailored specifically for the purchase of business equipment, this type of financing allows you to spread the cost over time while using the equipment for your business operations. It is also more accessible than your typical bank loans. </p> <p><strong>Small Business Line of Credit:</strong> This is a more flexible financing option that is provided by the <a href="https://www.sba.gov/funding-programs/loans">U.S. Small Business Administration</a> to help small businesses get the funding they need to get started. There are a few different SBA loans available, depending on your business needs. </p> <p><strong>3. Choosing a Lender</strong> </p> <p>Selecting the right lender is a critical decision that can significantly impact the terms of your financing; this can depend on your loan requirements, credit score, and repayment history. </p> <p><strong>Banks and Credit Unions:</strong> Traditional financial institutions often offer competitive interest rates and a range of loan products, such as commercial vehicle lending or small business loans. However, approval criteria may be strict, so you will need a good credit score among other qualifications. </p> <p><strong>Alternative Online Lenders:</strong> <a href="https://www.l.lendio.com/trucker-path"> Online lenders</a> have gained popularity for their quick and streamlined application processes, as well as their more flexible terms. While interest rates may be higher, the accessibility and speed of funding can be advantageous for those with lower credit scores. </p> <p><strong>Business Loan Brokers:</strong> These professionals have a large network of lenders that they can connect borrowers with. This saves you time from applying separately to these different lenders, streamlining the application process. </p> <p><strong>4. Check Your Qualifications</strong> </p> <p>Before applying for a commercial truck loan, assess your qualifications to strengthen your loan application and the finance options that you qualify for. </p> <p><strong>Credit Score:</strong> A good credit score is key to securing favorable loan terms, preferably of 640 or higher. Regularly check your credit report for inaccuracies and work on improving your score if needed. </p> <p><strong>Business Revenue:</strong> Lenders will assess your business's financial stability, so if you are looking to expand your business ensure your revenue and financial statements are in order. For those looking to get into the industry, demonstrating a steady income stream increases your chances of approval. </p> <p><strong>Payments:</strong> While some lenders offer no-money-down options, offering a substantial down payment can improve your loan terms. By saving up for a down payment, you can strengthen your position during negotiations. </p> <p><strong>Insurance:</strong> Comprehensive insurance coverage is often a requirement for getting financing for your vehicle. This can include primary liability coverage, cargo coverage, and physical damage coverage, amongst others. Research insurance options in advance to include accurate estimates in your budget. </p> <p><strong>5. Completing and Submitting the Application</strong> </p> <p>Once all of these have been completed, it's time to complete the loan application. </p> <p><strong>Personal and Business Information:</strong> Specific documentation requirements may depend on the lender, but most of them will require tax returns, financial statements, and personal identification. You should also provide accurate information about your business structure, years in operation, and the intended use of the truck. </p> <p><strong>Loan Amount and Terms:</strong> Specify the loan amount you're requesting and the desired repayment terms. Other factors that you should mention include interest rates, monthly payments, and any additional fees associated with the loan. </p> <p><strong>Review and Submit:</strong> Carefully review your application before submitting it and ensure all information is accurate and complete; this will ensure that the loan process can be expedited. </p> <p>Embarking on the journey of commercial truck ownership is exciting and understanding the key aspects of financing is very important for success. Before applying for a loan, it is important to do your research and get all your documents in order to ensure that the loan is approved as quickly as possible. </p>

Feb 22, 2024