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dmcarroll1974

posts: 2

Apr 15, 2009 3:02 PM ET Quote Report Abuse

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Here is a question for you EP`s. I have filed the papers, and got the Tax ID. Is it feasible to lease a truck and get a commercial fuel card just by giving them the Fed Tax ID? Some have said that it is possible. Others have said no way. That would really be great, for that is all i need to start hauling freight!

robertj

posts: 1458

Apr 15, 2009 4:22 PM ET Quote Report Abuse

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It is highly doubtful that you can lease a truck with just the tax id number and no other information. I would expect the leasing company to want some personal information since the company is brand new and has no history.

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boiseboys

posts: 139

Apr 15, 2009 5:47 PM ET Quote Report Abuse

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Sadly, that was a possibility three or four years ago. Because of such practices, the industry is currently in a serious state of overcapacity, and many small companies are having a difficult time weathering current economic conditions. In fact, there were over 3600 trucking company bankruptcies last year, and that figure only includes companies that owned five or more trucks. Many more small outfits fell through the cracks and have been forced to idle equipment.

We are currently facing one of the worst freight recessions in history. Financing options are becoming harder to come by. Many banks will no longer write equipment loans.

That said, there are many leasing companies and private financers who are currently in possession of repossessed equipment that is costing them money. Those types of secondary lenders may be a bit more relaxed about their lending standards, but I would assume that they would compensate for that by offering staggeringly high interest rates.

As far as a commercial fuel card - that will require a solid credit history and personal guarantee.

Transportation is a tough game right now - best of luck to you!

dmcarroll1974

posts: 2

Apr 16, 2009 6:31 PM ET Quote Report Abuse

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Thanks for the info guys. It helps out.

trucking

posts: 1

Dec 14, 2009 4:59 PM ET Quote Report Abuse

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I would like to ship fraight through my own termanel i need to know how to get started i have my own trucks just need the fraight but i am just trying to get cunnected with some fraight brokers that need some fraight muved in the haywerd ca and surrounding areas and ferther mostly LTL i have three 24 foot bobtails they can go anywhere get fraiht to me ar teel me wher to get it and i will deliver it. any ideas please call me (510)938-7280 or email me at morgantruckinginc@yahoo.com ill be looking for a reply

kihuha

posts: 3

Feb 10, 2010 11:05 AM ET Quote Report Abuse

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Come invest in Kenya - our construction industry is having a boom despite the recession. Contact me at samuelkagika@gmail.com

Rockstarbabu

posts: 11

Feb 13, 2010 6:19 AM ET Quote Report Abuse

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hiiiiiiiiiii

i am neeraj In fact, there were over 3600 trucking company bankruptcies last year, and that figure only includes companies that owned five or more trucks. Many more small outfits fell through the cracks and have been forced to idle equipment.

prem78

posts: 1

Feb 23, 2010 6:30 AM ET Quote Report Abuse

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this is prem78.

this is very sad news that there were over 3600 trucking company bankrupt.

but our company has good news that we have some opportunity for them.

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