Run Company truck as your own?

Discussion in 'Ask An Owner Operator' started by blackSheep07, Jan 27, 2015.

  1. blackSheep07

    blackSheep07 Bobtail Member

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    I'm wanting to get my own truck some time in the future, and have been gathering some info as I can. I have heard a couple people suggest running your company truck as if it was your own. How would I go about doing something like this? Would I spec a truck out on truckpaper that is similar to this company truck and jot the price down, separate it out into payments, then add other expenses? Fuel expense would be about the only one I can keep a close track of (that I currently know of), so do I estimate the other expenses? Also, I am paid a % of the load, so would I figure out the full % that the load pays minus the cut they would get if I leased a truck on to the company? Been driving for 2 years and have a ton to learn still yet. I think this would be a fun, and informative, thing to do while I pay down debt and build up savings, and possibly improve my driving. Thanks in advance for any info you have to add or offer!
     
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  3. Oscar the KW

    Oscar the KW Going Tarpless

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    The answer to all of your questions is yes.

    The best way to grasp what it takes cost wise to run a truck is to keep track of every expense that your company truck incurs. Since you know what the linehaul pay is to the truck, just figure out what your percentage of that would be if you owned it. Then ask your dispatcher what the fuel surcharge is so that you can add that to what the truck pay is.
     
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  4. double yellow

    double yellow Road Train Member

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    I kept track of every fillup, every PM, every tire change, etc for over a year. When picking the truck up after a repair, I'd just tell the service writer I was thinking about getting my own truck and ask what the company paid for the work done. Often it would be warranty work, but there would still be a bill for shipping & handling (on top of the motel).
     
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  5. Johan

    Johan Light Load Member

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    This might not be possible in every situation. Most of the vendors I use for our company trucks have a lag time between when the truck gets finished and when the service writer has a chance to sit down and tweak the RO into the final invoice. Sometimes the lag is a few days, sometimes its a few weeks. Either way, since I tend to have the trucks picked up as soon as they're ready, they almost never have the final numbers ready until sometime after the truck has rolled off their lot.

    But your company's maintenance director should be able to tell you right to the penny how much they spent to keep your truck running last year. Keep in mind as well though that some of the shop rates and parts pricing your company pays for service on their large fleet could be discounted a little or a lot over what you would pay for your fleet of 1.
     
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  6. Marusol

    Marusol Bobtail Member

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    Pretty much what the other post says. Keep track of everything. Now to add a bit to that your food, any clothing, tools, etc. you get while on the road is also tax deductible if you were an O/O or L/P/O. Another thing that you would be able to look into is Per Diem which I believe, if I'm not mistaken, $57 a day. This is basically money that you get tax free. You would be able to file that on your yearly taxes. If you are seriously wanting to get your own truck, these are a few more things you should look into before jumping the gun.
     
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  7. brsims

    brsims Road Train Member

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    You should absolutely run the truck as if it was yours. Work with your dispatcher if possible, find the better paying freight lanes, and keep your truck earning! Especially if you are on percentage pay, as the better money your truck earns the bigger paychecks you get. Keep yourself invested in your truck. That rig is your money maker. Not too mention, drivers who keep earning and watching expenses are the drivers who get the goodies as far as better freight.

    That said, also keep in mind YOUR needs as a driver. Some of us like going home on a regular basis, so we not only have to look at what the truck is making but where we are going to land at the end of the week for hometime. Others like to stay out for two weeks or more, and need to look at where they are gonna get those high paying weekend loads.

    I look at it from a percentage pay side, as that is what I get paid. So I'm always watching the freight lanes, looking for the lanes that have good freight at strong, steady rates. And I go home on the weekends. So I also need to be somewhere close to the house where I can grab a load on Friday that I can drop on Monday and still run through the house without too many out of route miles. And I run with a company where I can actually TALK to my dispatcher and load planners to get an idea of what I'm gonna be doing on the next load and the load after, so I can keep those in mind when doing my trip plan to make sure I have the hours to get everything done. Communication is the key there.

    Find a carrier that gets paid well for the lanes you want to run, keep that communication two way street between you and the company open at all times, and be prepared for the occasional crap load that is gonna position you for the really good load behind it, and watch your hours at all times. Remember, your carrier isn't getting paid unless YOU are dropping freight. That is the service the trucking industry offers, and the drivers are the only ones in any company earning the money to pay all the bills. Don't get ####y about it (since without dispatchers and load planners to figure out how to keep your truck moving and deal with customer service issues, salespeople to find the loads, safety people to cover your tailfeathers, and mechanics to keep your rig rolling you are gonna get screwed eventually), and be ready to work WITH your carrier, and you will avoid many of the problems that plague most newer drivers in the industry.

    It's a hard job that requires a lot from the drivers, no question about it. But if you prove yourself as a safe, professional driver who is out to make the bank, a good carrier will love you. And if you decide to make the jump over to the Owner/Operator side, You will have a much better education on everything you need to know to run your own truck (and fill all the positions I mentioned above by yourself) and be successful.
     
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  8. snowwy

    snowwy Road Train Member

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    he may know what his percentage is. but it may not be likely he knows what the actual load pays.

    as a o/o. you get a percentage of the whole amount. if your leased on. company drivers don't usually get a percentage of the FSC. so what would be a missing equation.
    also, does he actually get to see what the load paid? (rate con)

    then there's the expenses of running a truck. undisclosed a lot of times.

    running a company truck as a o/o is a good idea to kick around so you know what to expect. but the reality of it is, there's too many missings to make an accurate projection of what you, as an o/o, can realistically expect.

    licensing, insurance, (which is up in the air for the future), you can't pull freight without a trailer. etc.
     
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  9. blackSheep07

    blackSheep07 Bobtail Member

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    Thanks for the info! Looks like I was leaning toward the right direction. I do get to see what the load paid in full on my pay stub at the end of the week, just don't know if it includes the FSC or not. I figured that there would be some expenses that would have to be estimated, or omitted due to the circumstances, so it wouldn't be extremely accurate, but should provide a fairly decent learning curve never the less. I'll dig around and see if I can't find some figures to fit into the missing or estimated expenses.
     
  10. brsims

    brsims Road Train Member

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    There are some companies out there who "shave" the freight revenue and pay the driver a percentage of the remainder. Avoid those companies! You are doing the work, you deserve a piece of the whole pie (minus fuel surcharge unless you are paying the fuel out of pocket).
     
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