I'm considering buying a used truck and trailer and getting my own authority. I'd like your opinions.
Five years ago I got my CDL with HazMat, doubles, tanker at a Sage Technical course here in North Carolina. I was able to get a pre-hire from Schneider Bulk but they wanted me to attend their training at Harrisburg, PA even though I had my CDL. Great training! However when I went to New Jersey directly from training to spend six weeks with a trainer, I quit after seeing how unsafe an operation they ran at that terminal. Plus they were complete jerks without provocation.
I called Colonial Freight Systems in Knoxville, TN. Great people! They were hiring company drivers then so I went for orientation and was assigned a lease operator to train with for eight weeks. We ran Marion, NC to So Cal and back for three weeks coming home once a week for a day and a half. Only drove a night, let me back up twice, filled out my log book, etc etc. I finally asked for another trainer, this time another company driver. The night he picked me up he had an accident caused by making a U turn and a guy on a Harley slid into his landing gear. He had another preventable the night before brushing a ploe in a restaurant parking lot and someone called it in on him. We did log legally and did not run as a team. After two weeks, I simply couldn't stand being in the truck with another person period.
I quit and called Watkins and Shepard where some of my Sage classmates went. They had me attend a shortened orientation in Hickory, NC. It was great! Tim the safety manager spent alot of time with me, taught me how to downshift with a 44K load going down Black Mountain. He had me do it three times to make sure I could. Then I ran 48 state LTL van OTR for nine months until my mother got cancer. I never had to chain up but I did plenty of mountain driving in the Pacific Northwest, busy traffic in Atlanta, tight places to backup in Mid Atlantic states. I was assigned broker loads many times when WS didn't have freight.
Recently I inherited 200K. I own my little mobile home, car and have no debts. I'm single and have no tickets or accidents in over ten years.
I love driving but I don't want to be run by a company dispatcher.
I would like to buy an older, reliable tractor and trailer, get my own authority, insurance, etc and get broker loads from Web based loadboards. I can afford to start slowly to try to minimize mistakes. I do want to make a profit but I don't want to run my butt of either. I see some trucks on Truckpaper for around 30K. 2004 - 05 Freightliner 10 speed, detroit engine, approx 500 to 600K miles. Ryder Truck leasing has alot of trucks listed.
I was an OOIDA member for a couple of years. I wanted to learn and support the organization. I would definitely renew my membership to take advantage of discounts, advice etc.
I would like to haul flatbed loads, but I would need securement training. I'm not willing to go work as a company driver for six months. Watkins and Shepard told me I had to go through school again not just a refresher. I've been through PTDI training twice already.
Part of me says put ALL of my my money in mutual funds and forget about trucking.
Some experience - want to buy truck and trailer
Discussion in 'Ask An Owner Operator' started by Cruiser09, Feb 16, 2011.
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And there's your sign
....invest going out as an O/O with the small amount of experience you have could prove disastrous financially.
If you decide to give the O/O thing a shot..you will have to run, because being new at it you will have to run to prove yourself to the brokers OR the company you lease on to. Yes it can be done but it takes planning, determination and hard work
good luck in whichever you choose to do. -
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The finance charge will be more than he would make off a fund. I agree with just starting out with a truck lease on to a company to learn the business. If you really want to go into it and if it was me I would take $100k put in a fund take the other $100k buy a good truck with a few years of warranty left on it lease onto a company to learn the business. You should not have a problem clearing $6k a month if you run good with a frig and microwave and the help of walmart it will be easy to live off $500 a month and in about a year and a half you will have banked about what you have invested. There is a lot that goes along with this plan like do go after a fancy truck and spend all your profit in the chrome shop a decent mid roof if you only planing on pulling flat. I cant sit here and go through all the detailing but with planning and determination you can make it work
P.S. see that truck up there in the picture yep that Volvo 780 D16 535 WHAT EVER YOU DO DONT GET ONE OF THEM
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I would not invest anything in the trucking world. Talk about a gamble. Betting on the ponies would be less risk.
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Get as much info as possible. Note this: Investing ANYTHING in this world has a significant rate of loss. The world is set up that way and its nothing we (common folks) can do about it.
My 2 cents, put 100-125K into different investments, Roth IRA, Money Market and CD's. Keep your money "fluid" so you have easy access it.
Budget 60-60K for the truck venture. 20-25 for the rig, 10K for the trailer. Insurance 10-12K per year and look to spend 3-5k for licenses, registration, Fuel Tax, and other stuff. And set up a maintenance account (blown turbo, tires, inframe, etc) 10K to start up.
And like the veterans on this forum, seek lease (leech) operator status. Set goals for yourself. Learn the business and get out after a year.
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