No CDL, buying a truck.

Well, having a truck you are sitting in a very good postion. To practice and take the test all you need is insurance, fuel and a Class A CDL holder while you hold a permit for practicing. Find you a trailer and lett'er rip.
As for the option's

Option 1. I'm pretty sure it does have a blue book value and as long as it is still road worthy it would sell. *Problem is fuel is really high now so paying for that alone would if nothing else break you just have a LOT of money to handle it because you have to include tire's, road tax, insurance (usally bobtail and combination) maintenance, living cost's.* Oh yes, it does get expensive and can run you into the ground if you don't know how to efficently.

Option 2. Refer to the *-* section of option one.

Option 3. Sound's like you might be on to something but in the long run you still have to do everything in the *-* of option 1 except you have one more cost coming out and that's paying the driver.

Option 4. Ehhhh, a lot of us would hate to see someone do that to a truck.

 

http://www.truckpaper.com/default.asp?pdcl=1

This website will give you an idea of what it's worth, if you decide to sell.

Being an Owner/Operator is a tough row to hoe, especially these days with $4.00+ diesel fuel. Add to that you really have no clue as to what to expect.
Talk to your brother first, let him tell you some of the pitfalls, and things to watch out for. I had my own truck about 10 years ago, and found out quickly it's much easier to drive someone else's. At least in my world.

 

Truck insurance rates are based on several factors, annual miles isn't normally one of them.

Primary Factors:

1. Truck Value and Liability Limits required, cargo insurance if required
2. Driver record, age, and experience.
3. Radius of operation (Generally local is under 50 miles, intermediate up to 200 miles, and long haul.)
4. Weight and type of cargo being hauled. (Fuel tanker being more expensive than truck load of twinkies or heavy truck like a coal truck with extended weights being more expensive than a highway truck)
5. Do you just need Bobtail only (Someone else insures truck when you are pulling their trailer you insure it when not hooked to their trailer) or do you have to insure the truck and trailer both.

Other things also make differences:

1. States traveled in
2. Cities Traveled in
3. Crossing border (Canada, Mexico)
4. Length of CDL Experience (Some types and cargos require more experience than others.)
5. Where you are based out of. Example, Kentucky charges 1.5% state insurance tax and there are cities in Kentucky that charge an additional 10 to 14% (that's a lot of money on $6,000 to $7,000 or more)

The first questions an agent is going to ask are

Who owns it?
Who's Driving it?
What's it Hauling?
What's it's Gross Wt?
Where's it hauling to and from?

If you can't answer those questions, it's not going to be easy to get insurance on it, and you'll end up through some state's fair plan pool. There's a lot of money riding on a truck insurance wise. Most of the time $750,000 to $1,000,000 in liability alone plus the truck itself, trailer, cargo etc. Companies want to know exactly what they are risking.

Skip

 

Daytripin..........I can't send you a pm as I have less than 50 posts, so I sent a message to a Moderator to see if they would send you my e-mail address or clarify if I am allowed to post it here..........I have'nt heard back.........

So, I don't know if I'm breaking any rules by putting it here.........Mods...please delete if this is not allowed.....thanks.

Anyway.........daytripin.........me e-mail is Please send me a message so I can get in contact with you.

Many thanks,

........

 

You're a good brother and in a tough situation. Not sure what I would do if I were in your shoes. I'll get back to ya on it.