Seeking Guidance As A New O/O With A Lease . .

If I may, let me offer another avenue.

Now I'm not an owner operator, but let me tell you what my buddy did. Just like you he had roughly $20k to start with. He almost did what you did OONewbie. He didn't like the idea of parting with so much of his money which left him very little so he decided to lease straight up with Prime. He chose Prime because they paid percentage and not a set cpm.

He got a brand-new Cascadia with no money down. He's averaging around $1.60 a mile and averaging around $1200-$1500 net a week. And that's including holding taxes back for his quarterlys. He has since added to his $20k.

Just a thought.

 

Because of the increased fuel mileage right out of the gate and the increased expense of parts for older trucks it is getting harder and harder to justify older equipment in a traditional model (not doing something specialized). I am amazed and the amount of money and effort some of the MPG Masters put into their trucks just to get near what some of these newer trucks are getting. Not to mention the comfort factor. Fuel won't stay down forever and the better MPG will again be a big deal when talking bottom line.

But looking at it from the other side, if you can find a good used truck that has already had a rebuilt motor and you are ok with doing some of your own work then you can do well with a pre-emissions truck.

 

I can pretty much guarantee that truck you listed doesn't have FET included. The going advertised price on Cascadia Evo's are 140k+. A lot of dealer's do it to make it look cheaper, but you have to pay the FED's their 12%. Lou Bachrodt does the same thing down in FL.

 

That was directed at Double Yellow. As far as FET from Lone Mountain, they are the first buyer, so the FET will have been paid already.

 

if you have open line of credit that's maxed out. pay it off.

if you don't have open line of credit. get some.

maxed out cards will drop your score like a rock, overnight. and get you a 20% vehicle loan.

paid off cards will max out your score overnight and get you a 5% vehicle loan.

i don't shoot for a loan unless my credit cards are paid off. i get my report every month. and i've watched my score swing 300 points. between maxed out and paid for.

my vehicle loan is 3 years old. paid every month. and has done nothing for my score.

that higher score also made for a nice refund from my insurance company.

 

First off all Landstar is not good company because if you lease with them you pay them about 35% oft your gross which is insane. I leased with small company and pay them 17% of the gross. So imagine if you make $6000 gross per week you pay $2000 to landstar ..thats almost double what I pay. I have friend who ran away from landstar, came to our company and is happy now.
Now I agree with you if you dont have mechanical skills to fix truck its better to buy new because you will have warranty.
But when you own old truck there are other advantages. You dont have monthly payment for your truck you are free, you can spend more home time. Right now I take holidays whole february because my old truck paid off and I dont like much driving on icy roads..I could not do that if would have new truck payment. I know one driver he is paying $2500 plus $450 insurance for his new volvo. He cannot stay too much at home because of high payments.
Also with new truck there is always risk if the freight rates go low to much and you dont have much in the bank, your truck will be repossesed. You mentioned that you will have left
like 4-5k ..believe me its not enough.

 

i think you mean "open line of credit" not "open light of credit"

 

What in the world am I reading here!!??

(To some What a bunch of cry babies, whiners and pessimistic bunch of pooh ssies #####!!

Hate me I don't care.

Because you hold yourselves back full of fears and miss adventures you come in here telling this man his situation will be a failure since "YOU COULDN'T MAKE IT"??

to OP. Dear sir, get that new truck, get extended warranty, join landstar or my company (which is the best- pm me for details) and truck on.

Every time I see threads like this I am afraid of even reading them. Every one's situation is different, I've suggested others to buy used pre-emissions. Others I suggest new like in here.
Now how dare you say Landstar is a bad outfit? Where have you been the last 20 years son?
how would you say an old truck won't break down but a new one will?
bunch oF kock blockers (not to everyone) .

OP, your failure or your success is up to you. You're on the right track with your 1st post, IMHO I just pick another truck brand if available but you're not me. Still you're thinking great.

You'll hear people say; - I told you you couldn't do it.
but you'll also hear "once you prove them wrong" - I knew you could do it.
I have a 2014 pete 579, living the life after I almost drowned on a 2008. My trailer is a 2015 without brake problems, nor alignment, nor electrical, nor missing parts, or floor broken NOR LOOKING LIKE I NEED HELP FROM THE GOV.

If there's no money in trucking maybe some of you should get out.