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.
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. 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.)
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 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.
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.
