New O/O

Discussion in 'Ask An Owner Operator' started by HaglerFan, Nov 10, 2024.

  1. HaglerFan

    HaglerFan Light Load Member

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    I never said for free, I'd obviously pay for it.
     
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  3. NorthEastTrucker

    NorthEastTrucker Heavy Load Member

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    Being fairly new as a O/o for a little over 2 years. However, your situation is different because your Truck will be paid off and new. Mine is new but I'm still paying it off. I had over 28 years experience and now over 30 years driving but insurance was a huge issue in 2022 even with my experience and previously being an O/o back in the late 90's but let that Authority go. Insurance now in the last 2 years has gotten worse. As for the Freight market it's still stagnant but slowly getting better. I don't think it will be the best until early 2026. If you have capital on hand be prepared to lose 25% of it due to changes. However, in a year or so that can also increase to a 40% profit as well. Even with my capital investments I'm surprised I'm still here but still trying to stay afloat.
     
  4. HaglerFan

    HaglerFan Light Load Member

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    Definitely used, but if I choose to go flatbed I need to get a properly geared truck.
     
  5. HaglerFan

    HaglerFan Light Load Member

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    Thank you for that.
     
    NorthEastTrucker Thanks this.
  6. HaglerFan

    HaglerFan Light Load Member

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    I've spoken to them, and they require at least six months, I believe, which isn't horrible but I'd hate to buy a truck for van/reefer then need a different geared truck for flatbed/heavy haul.
     
  7. HaglerFan

    HaglerFan Light Load Member

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    blairandgretchen, Oxbow and 062 Thank this.
  8. bad-luck

    bad-luck Road Train Member

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    Ok. Even though freight waves is saying that the freight recession is over, rates are still very cheap and a lot of owner operators are struggling right now.
     
  9. HaglerFan

    HaglerFan Light Load Member

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    Yeah it's definitely not "over" but let's admit a lot of owner operators are financing over priced trucks and don't know how to actually run a business and some carriers are irresponsible in their operations. I'm by no means saying I'm going to revolutionize the industry, but I'm in the position to not have a truck payment and some financial security to build my business as the rates seem to be slowly improving. Thank you for your responses and civility.
     
    blairandgretchen Thanks this.
  10. LOTSO

    LOTSO Heavy Load Member

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    I know I'm "Answering your question by asking a question", But...If you have gotten insurance quotes, what are they???
     
    Oxbow Thanks this.
  11. HaglerFan

    HaglerFan Light Load Member

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    Between $15-20k a year for new authorities but obviously substantially less for bobtail insurance, only, should I lease on with a carrier
     
    blairandgretchen and Opendeckin Thank this.
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