Should I buy my own truck?

Discussion in 'Ask An Owner Operator' started by ic40oz, Apr 14, 2008.

  1. ic40oz

    ic40oz Light Load Member

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    I'm pretty new to this forum. I just would like some input on my decision if I make it. I have no trucking experience. I have TONS of traveling experience and dropping loads and picking up but all this experience has been in Iraq. Anyways, I want to truck. Ever since I was little wanted to drive truck. I have the finances to buy a truck out right. I also have enough money to put in a fuel acct, maint. acct. etc.. With no experience though, should I jump into the O/O? I mean obviously I will be getting my CDL and attending school, but after this having my own truck would be sweet.. Money isn't an issue. Any input would be nice. OR perhaps I should drive for a company to get the ropes down?
    Thanks
     
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  3. Hilltop

    Hilltop Medium Load Member

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    Here is what I would do if I was in your shoes.... Get experience by driving someone else's rig..See what it is like and see for your selfs there expenses that go into there truck... Get a good feel in shallow waters before driving into the deep end...
     
  4. Irishman

    Irishman Bobtail Member



    Is it even possible to get insurance ?
     
  5. Hilltop

    Hilltop Medium Load Member

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    Mmmmmmmmm! Great point.....
     
  6. frdr

    frdr Medium Load Member

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    no, you should not.
     
  7. Irishman

    Irishman Bobtail Member


    Is it even possible to get ?

    I understand it is possible for a radius of 500 miles, and even then, it is very expensive. But, is there a company out there that will touch a new CDL guy and his own truck, to do otr.

    I have spoken to three insurance folks, they pretty much, just laughed at me. Anyone familiar with a company that writes these policies. Thanks.


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  8. Hilltop

    Hilltop Medium Load Member

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    For a New O/O they want experience for like 2 or 3 years with a clean record...To even get work with your truck.. Let alone insurance
     
  9. Irishman

    Irishman Bobtail Member

    That appears to be the case.

    However, if some companies employ rookie drivers, perhaps there are some companies that will allow a rookie driver/o/o to lease onto them.
     
  10. witchwaywest

    witchwaywest Medium Load Member

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    IC40OZ,I won't steer you one way or another.When I started driving,I did a lease purchase on a used tractor. I put a small amount of money down,they had used tractors in the fleet to pick from and I bought all permits,insurance and the baseplate through the company at a discounted rate.Now,I did not make much money but I paid the truck off in two and half years,paid the bills at home and got alot of knowledge about the benefits of owning/leasing a tractor and the downside.You might try this,at least you can walk away without a painful hit to your finances if you decide the company is not the right or truckings not for you.After I paid my tractor off and I gained more experience,I left the first company and leased on to ones that had better pay and better loads.First,don't go and buy a brand new rig when first starting unless you have family or friends well established in trucking that can help you out.Second,like any other start up business,owner/operator is no different, so do the research on every aspect of the industry before jumping on the wagon.Last,you asked about insurance.Try USAA.They only deal with veterans of the armed services and their families.Good discounts, good service and they deal with small business accounts=owner/operator.Thanks for your service to our country and good luck stateside.
     
  11. Irishman

    Irishman Bobtail Member


    Witch............just to clarify. Did you do this with a new CDL and no otr experience ?

    If so, how recent was it.

    I understand it was possible years ago, but now, it is a totally different story. Thanks.


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