Is it worth it?

Discussion in 'Questions From New Drivers' started by Dubon0708, Aug 2, 2024.

  1. Dubon0708

    Dubon0708 Bobtail Member

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    Aug 2, 2024
    Kissimmee
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    So like many others I’ve been driving for 24 years and I want to become an owner operator. My questions are not how much can I make, I can figure that out on my own. The question is, is it enough. I’m more interested on how much it would take to maintain my truck. Assuming it’s a 2017 in good working order, what can I expect on the high side. Oil changes, insurance, etc? I would be hauling a tanker, non-haz, about 450 miles round trip daily. Pay is about $1,300 a day gross, home nightly, 5-6 days a week of work.
     
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  3. blairandgretchen

    blairandgretchen Road Train Member

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    South west Missouri
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    What does that same run pay a company hand?
     
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  4. Dubon0708

    Dubon0708 Bobtail Member

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    Aug 2, 2024
    Kissimmee
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    Well, the company driver makes $26/hr to run that same load and they do it in about 11 hours.
     
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  5. blairandgretchen

    blairandgretchen Road Train Member

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    South west Missouri
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    About 22% of gross. I see.

    Are you buying the truck outright, or financing, and how many miles are on the 2017 units you’re looking at?
     
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  6. blairandgretchen

    blairandgretchen Road Train Member

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    South west Missouri
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    To your question, it’s a big variable.

    6 year old trucks are at 500,000 miles depending on their usage, which is about where they run into larger maintenance items - often with after treatment systems.

    If you continued on that track with 100k miles/year, within 5 years you could be looking at those costs, possible inframe, transmission, and general items that come along with 7-13 year old trucks.

    Is it possible to use a pre emission, well maintained unit - or - do the numbers on the front end support payments on a new or one year old unit?

    The $2.88/mile all miles is certainly reasonable, there’s just a lot of questions to consider.

    First of all - what would you say your top 3 reasons for considering it are?
     
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  7. Dubon0708

    Dubon0708 Bobtail Member

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    Aug 2, 2024
    Kissimmee
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    I’m buying the truck cash, so no payments. My main goal here is to make more than I currently make to support my family and a better life. I do love it so switching careers is not an option. Another thing to consider is that I’m a hustler with no accidents or tickets but these onboard cameras are going to get me fired. As an owner I don’t have to install them. They beep for looking away for too long, they beep for going a mile over set limit even though I’m going down hill! (what we call hills in Florida,lol) I’d be content with an extra $1,000 a month more than I currently make. I am the company driver in the example I gave where they pay $26/hr.
     
  8. Dubon0708

    Dubon0708 Bobtail Member

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    Aug 2, 2024
    Kissimmee
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    Oh, I forgot to mention that I would be doing 75% of repairs and have a friend with a shop that gives me a good price since I’m helping and mainly just using shop.
     
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  9. blairandgretchen

    blairandgretchen Road Train Member

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    South west Missouri
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    Your trailer or theirs? Any cost to you if it’s theirs?

    Under their authority and insurance?
     
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  10. Eddiec

    Eddiec Road Train Member

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    Feb 2, 2015
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    $6,500.00 a week gross earnings (working 5 days)
    Subtract the following Weekly Cost:
    • Fuel - $1,500.00 a week @$4.00 per gallon burning 375 gallons a week getting 6 mpg - running in Florida, no hills
    • Driver Pay - $1,000.00 (adjust as needed)
    • Maintenance & Repair Fund - $500.00 You gotta maintain it AND it's gonna break!
    • Tags - $50.00
    • HUT Tax - $10.00
    • Physical Insurance - $50 ( normally 3 - 4% of truck value)
    • Bobtail Insurance - $20.00
    • Truck Payment ( Equipment Replacement Cost) - $400.00
    • Taxes- ?
    • IFTA - ?
    • Workmans Comp - ?
    • Accounting Fees - $10
    • Cell Phone - $25
    • Trailer Cost - ?
    • ELD Fee - ?
    • Health Benefits - ?
    • 401K - ?
    Known Cost: $3,565.00
    Known Cost : $3,565.00 Per Week
    Known cost : $3,565.00
     
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