gcferroinc
Seasoned Expediter
I have a question for someone that can help me. We have a 2005 KW and flatbed that we are selling for $58,000. The person interested has asked that we keep the truck insured and add him on our insurance for 2 months until he can come up with the down payment to add it to his existing policy.
The thing is that he will be hauling his own direct lane. So it will be my insurance covering the equipment, my plates and heavy highway tax on the truck for 2 months until it all expires and he then gets it in his name. Of course, the legal stuff concerns me. He mentioned that this could be done by implementing Trip Leases for each load he does from his own company. Don't no much about this. I am in a bind and need to sell the equipment. He is highly recommended but has no upfront money. He will pay the loan with all legal contracts in place but over 30 months. I would prefer a check up front but that is hard for most people now.
If anyone has any suggestions on this, please let me know.
The thing is that he will be hauling his own direct lane. So it will be my insurance covering the equipment, my plates and heavy highway tax on the truck for 2 months until it all expires and he then gets it in his name. Of course, the legal stuff concerns me. He mentioned that this could be done by implementing Trip Leases for each load he does from his own company. Don't no much about this. I am in a bind and need to sell the equipment. He is highly recommended but has no upfront money. He will pay the loan with all legal contracts in place but over 30 months. I would prefer a check up front but that is hard for most people now.
If anyone has any suggestions on this, please let me know.