Hey guys and gals, i decided to go ahead and get me the 2008 Kenworth T2000 with the Cummins 475 and ultra shift transmission. Now i was gonna go ahead and lease it to a company so i didnt have to get my permits and stuff myself since i hear its costly. But that not gonna be a possibility for me so i need to get my own insurance, DOT permits, MC, US, and whatever else ima need. Now my question is where can i inform myself of what im going to need and the cost of each thing...im in south Texas and need info..thanks
O/O advice, starting out...
Discussion in 'Kenworth Forum' started by jtjslim2, Nov 24, 2014.
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You first need to see if you can get $1,000,000 liability insurance and $100,000 cargo. Cargo is the hardest to get. Insurance may stop you dead in your tracks. Possibly because or your past history or record.
Also, they may want you to pay up front for the year. It could cost you anywhere from $6,000 to $12,000
So, start with insurance first. Your adventure may stop with that. -
Read the 1000 or so threads already on this subject.
EZX1100 Thanks this. -
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I bleieve they did except for the cost of insurance.
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Lol....I was kidding.
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How do i look for those threads??
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There is a thread about what it takes to get authority and to get started. Your state IRP office is a good place to start. Without at least 1-2 years driving experience, it will be a challenge to find insurance. Some start with Progressive for the first year. There are limitations with Progressive. It would be easier for you to lease to a carrier until you get a year of two of experience. Unless you can get insurance you won't be able to get authority, base plates and permits, etc.,
I will give you a short list of what you will need to get started. First, is insurance. Once you have insurance and pay your 2290 (heavy highway use tax) to the IRS, you can get your base plates. You will need to pay your UCR tax. It costs $76/year for one or two trucks. If you start prior to the end of this year, you may be required to pay for this year and next year. Depending on where you run, you will need an apportioned base plate. Starting in January, major changes are coming to your local IRP office. It could reduce the cost you pay for your base plate. I would expect to pay from $1,500-2,200 for your base plate. You will also need to set up an IFTA account and pay quarterly fuel taxes. If you run New Mexico you will need to purchase their weight distance tax. Again, quarterly taxes will need to be paid. If you run Kentucky, you will need a KYU number and pay quarterly taxes for all miles run in the commonwealth of Kentucky. New York has a HUT sticker you need to buy and then pay quarterly taxes to the state for miles run in NY. If you run Oregon you will need to set up an account with them. They have a weight/distance tax similar to NM and KY. I think they still require a $2,000 deposit to open an account. Unless you plan on running Oregon regularly, I would buy a trip permit for the first few times.
It isn't cheap starting a trucking company. Insurance, base plates and permits can get expensive. You can easily spend thousands of dollars and still have little to show for it.Willie Pete Thanks this. -
Why can't you lease on with a carrier? That could be some important info because if it was MVR related you might have difficulty getting insurance.
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