Can a recent CDL graduate purchase a NEW truck and start out as an Owner/Operator?

Discussion in 'Ask An Owner Operator' started by knuckledragger, Jun 20, 2014.

  1. knuckledragger

    knuckledragger Medium Load Member

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    Everett, WA
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    Can a recent CDL graduate finance a NEW truck, obtain insurance and start out as an Owner/Operator? (Rather than starting out as a company driver.) This recent graduate has about seven years experience as a truck driver (driving straight trucks) but no experience with a CDL or pulling trailers.


    Please do not waste your time saying that this recent graduate should, 'start out as a company driver', 'learn the ropes', 'drive for a year and see if he actually wants to be a trucker', or that he could 'lose everything if he doesn't know what he is doing'. Lets assume he already knows these things.

    Can a recent CDL graduate finance a NEW truck, obtain insurance and start out as an Owner/Operator? (Rather than starting out as a company driver.)

    Thank you for any positive input you can share.
     
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  3. Old Man

    Old Man Road Train Member

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    IF you can find insurance and afford it. Truck finacing can be harder, they will want you to prove where the income will come from to pay the loan. You will also need a trailer.
     
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  4. Freddy57

    Freddy57 Road Train Member

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    Yes, it can be done...if you can find a carrier to lease the truck you will get much better insurance rates through them than on your own. You just have to look around and find the right carrier to partner with. I would recommend finding the carrier first and then buy the truck that matches what you will be hauling.
     
  5. Nedrudt

    Nedrudt Light Load Member

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    Just get your own authority. It's actually a lot easier than you think. And there are some dealers out there that can get you approved pretty easily for a truck loan, I mean it's not like your buying the semi as a second home, of course it's gona be used for work.
     
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  6. knuckledragger

    knuckledragger Medium Load Member

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    Can you suggest a few carriers that might take on a driver with his own truck but has no CDL experience? (Other than school)
     
  7. Chinatown

    Chinatown Road Train Member

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    Try Cardinal Logistics. Sometimes they hire with 1 yrs. exp. and sometimes a new CDL grad. Depends on the terminal and who that terminal hauls for. Could be reefer, van, flatbed.

    Cardinal Logistics will help you find financing and insurance.
     
    Last edited: Jun 20, 2014
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  8. zinita17601

    zinita17601 Road Train Member

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    Good luck with that
     
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  9. knuckledragger

    knuckledragger Medium Load Member

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    You said, "Cardinal Logistics will help you find financing and insurance". Is this the same as leasing a truck from them? Or is it 'true' financing where you can buy a truck and use it to drive for ANY company?
     
  10. Christian23

    Christian23 Bobtail Member

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    Does this " New Graduate" have the slightes idea of how much a "NEW" tractor costs ??????
    How about a trailer.....?????? ( I would expect the "New Graduate" would love to have that NEW as well.
    Good luck .
     
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  11. jldilley

    jldilley Medium Load Member

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    An acquaintance of mine from our sister church in Bloomington was in this very situation last year. He got his cdl, bought a tractor and trailer, then leased on with J.B. Hunt. After six months, he started running under his own authority. So yes, it is quite possible.
     
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