FAQs
How does my truck make money?
Our affiliate works with 14 DOT American carriers to transport loads across the continental United States. The trucks are paid by load. The drivers are paid by the mile. Through your lease agreement, you are contracting our affiliate to run your trucks for you, and you are paid a portion of the profits.
How can I only make a one-time Capital Operations Payment and yet renew my lease with new trucks every few years?
You are paid an additional weekly payment of $700 from our affiliate to cover all maintenance, truck upgrades, and all ongoing truck expenses. MGM Elite Trucking receives and pays this $700/week to Southern Truck Leasing on your behalf to
keep your lease payments up to date and your truck on the road and making you money. This additional $700 weekly lease payment will be reflected in the End-Of-Year Financial Statement sent to you by MGM Elite Trucking (and may possibly be written off as a business expense).
What if my truck gets in an accident? Am I liable?
Our affilate transport company holds the insurance, title, registration, and door tags with no risk or liability to you. Your truck will be repaired and back on the road as soon as possible with little to no loss in profits to you.
Could our affiliate abuse or neglect the trucks?
Our affiliate is to keep the trucks compliant to the lease agreement. The trucks being highly maintained, upgraded every few years, insured, and registered is in the best interest of all involved parties as it creates consistent income and a reliable reputation.
Are the trucks a tax write-off?
Yes. Our trucks offer incredible, ongoing tax benefits. Each truck is under a Capital Lease and worth $190,000. Most states allow for an 80% depreciation over 1 to 2 years. Every two years, your truck is upgraded to a new truck, and a new depreciation cycle begins again. Please refer to a Certified Public Account for details.
Can I terminate my lease at any time?
Yes. It is a walk-away lease. You can terminate the lease at any time per the lease agreement. You also have the option
to buy out your truck at the end of the lease. (Please refer to the lease agreement for further details.)
Who are the national carriers partnered with MGM Elite Trucking?
Our national partners include The Evans Network of Companies, Allay Logistics, Jax Transport/Logistics, and West Motors. These partnerships ensure your truck has consistent freight opportunities and steady income. We provide examples of the contracts with these partners to show how our partnerships benefit our business partners.
How does the insurance process work?
Our affiliate sets up the initial insurance, covering your truck’s liability and physical damage. Additionally, national carriers like The Evans Network and Jax Transport may provide cargo insurance when your truck is operating under their contracts. We also show examples of insurance agreements between our affiliate and the national carriers to ensure transparency regarding coverage.
How is the weekly payout structured?
The weekly payout is a fixed amount from MGM Elite Trucking. This ensures you receive a predictable, steady return on your new business, regardless of fluctuations in mileage or operations.
How can I be sure my truck will stay active and profitable?
Through our partnerships with national carriers, your truck will always have steady freight to haul, minimizing downtime. Our affilate transport company manages logistics and driver operations to ensure that your truck remains on the road, generating revenue.
What kind of trucks are included in the lease?
Southern Truck Leasing provides high-quality, newer trucks that are compliant with industry safety and regulatory standards. These trucks are reliable for long-haul and regional routes and are maintained by our affilate transport company to ensure optimal performance.
Who handles driver management?
Our affilate transport company is responsible for driver management. They ensure that experienced, qualified drivers operate your truck and follow industry best practices. This ensures the truck remains operational and profitable. Randall Reilly is a talent acquisition platform that helps to find, hire, and retain top talent for drivers this company handles all our ads and requires that all the drivers have at least three years experience no accidents and are full DOT compliant
What happens if my truck requires maintenance or repair?
Southern Truck Leasing and our affilate transport company handle all maintenance and repairs for your truck. This ensures that any issues are resolved quickly to minimize downtime, allowing your truck to stay on the road and generate income.
Is the mileage guaranteed?
While the exact mileage can vary, trucks are typically expected to run between 3,000 and 5,000 miles per week. Our partnerships with national carriers ensure that there are steady freight opportunities to keep your truck active and profitable.
