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I am confused as a smart monkey! O/O, L/O or company driver?

Discussion in 'Questions From New Drivers' started by bangsistro, Jul 16, 2012.

Page 1 of 3
  1. Jul 16, 2012 #1
    bangsistro

    bangsistro Light Load Member

    74
    4
    May 24, 2012
    California City CA
    0
    I am gonna try to go to the point:
    - My goal is to be an owner operator some day soon. The reasons are many and I believe it fits my personality for bad and for good too.
    - I tried to qualify for a credit to buy a truck but my FICO is 530, to low; I have only 10k saved. Based on my own experience and comments that I read in this forum is not possible to become an O/O on that conditions so.....
    -Then I explored other options as a company driver or as a lease to purchase, I have my CDL no endorsements and 7 months experience driving a 05 freightshaker 10 speed hauling a refer.
    -I already submitted my application to some companies and they e-mail me back or actually contacted me to set an appointment for orientation (USA truck was the first, Marten, CRST, Shneider, one called Panther, Covenant transport, Knight, CDENgland, Melton truck, etc.)
    -Also received an offer from a local company, a little one to work as a company driver for 30c per mile.
    The point here is that I am so confused trying to chose between become a company driver or give a try to a l/p. I did read here a big No Nos on that, but in the other hand, opinions from people who succeed on it.
    My wish list is to have a chance to buy a truck under the most fair conditions, having the best home time possible and a chance to bring my family with me just sometimes.
    I am not just a hard worker but also someone with ethics who believe on to take care of the equipment I am handling

    Any company that you guys can recommend any program...anything!!! help please
    This time sign!! The freaking confused monkey I am now...and hoping not for so long!!!
    Thanks!!!
     
    bangsistro, Jul 16, 2012
    bangsistro, Jul 16, 2012
    #1
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  3. Jul 16, 2012 #2
    dude6710

    dude6710 Road Train Member

    2,162
    622
    Mar 26, 2010
    MN
    0
    Being that you live in CA i would just move. They dont like trucks that arnt new. You could get a truck from a buy here pay here place with about 4500 down on a 20-25k truck.
     
    dude6710, Jul 16, 2012
    dude6710, Jul 16, 2012
    #2
  4. Jul 16, 2012 #3
    bangsistro

    bangsistro Light Load Member

    74
    4
    May 24, 2012
    California City CA
    0
    Thank you dude that's right CA is enforcing new regulations for 2014 I am aware of that and buy an older truck was something I was considering too even when besides that I would like to move preferably to a northern state.
    But to move and buy a truck it's something I can't afford now I prefer to find a lease to own deal the thing is that I do not know if I can find it with my little experience (7mo) or sell my soul to a company as a driver only that's why I am requesting some advice.
     
    bangsistro, Jul 16, 2012
    bangsistro, Jul 16, 2012
    #3
  5. Jul 16, 2012 #4
    CondoCruiser

    CondoCruiser The Legend

    19,726
    18,734
    Apr 18, 2010
    Tennessee
    0
    No offenses, I'll get straight to the point.

    530? How does one get that low? You have to have some unpaid debt. There are many steps you can do to improve it. Play your cards right, one year you can have a positive number that you can borrow with.

    That's your first step if you want to become a business owner. That number will reflect how well you will do. You can't handle credit, you can't run a business. They go hand in hand.

    Don't be a victim of lease/purchase and all the glory's they paint.

    I would be a company driver. Get some experience under your belt while you fix that credit score. You are not going to get rich overnight. I made 30 cpm fifteen years ago. :biggrin_2554:
     
    CondoCruiser, Jul 16, 2012
    CondoCruiser, Jul 16, 2012
    #4
    jbatmick and lonelyswmtrucker Thank this.
  7. Jul 16, 2012 #5
    ShootThis

    ShootThis Medium Load Member

    606
    779
    Jun 20, 2012
    Wondering Where I AM Again???
    0
    Kids,Kids will do that to you,lol
     
    ShootThis, Jul 16, 2012
    ShootThis, Jul 16, 2012
    #5
  8. Jul 16, 2012 #6
    123456

    123456 Road Train Member

    10,555
    5,746
    Oct 22, 2010
    32179
    0
    Call Prime.

    End of your problems.
     
    123456, Jul 16, 2012
    123456, Jul 16, 2012
    #6
  9. Jul 16, 2012 #7
    NYROADIE

    NYROADIE Heavy Load Member

    773
    471
    Jun 24, 2010
    Rochester NY
    0

    What they said, but don't blame your kids!
     
    NYROADIE, Jul 16, 2012
    NYROADIE, Jul 16, 2012
    #7
  10. Jul 16, 2012 #8
    lonelyswmtrucker

    lonelyswmtrucker Medium Load Member

    612
    248
    Sep 14, 2011
    down the bayou
    0
    don't do a lease purchase, it's all 1 sided in the lease, no matter who u sign with. jct, prime, jb hunt, etc they all say they have people who paid their trucks off & got their title but who knows what they had to do to get to that point; know what i mean
     
    lonelyswmtrucker, Jul 16, 2012
    lonelyswmtrucker, Jul 16, 2012
    #8
  11. Jul 16, 2012 #9
    D33RHUNT3R

    D33RHUNT3R Medium Load Member

    643
    393
    Jun 2, 2012
    Nw Arkansas
    0
    Save your money working as a Co driver then pay cash.. If you cant save enough to do that you surely dont want to try and lease or be an O/O..

    My dad told me this and it has been very true ... You can have money or you can have kids ..Most the time you won't have both..

    But going into DEBT is not your kids fault that is only yours... You have been living beyond your means and not saving... When you learn how to SAVE and be paitient .. Then you might consider being a O/O till them You will be best off to find a good company driver job IMO.. then after a yr find you a local gig so you can be around your kids..IMO

    I have a cc rating of over 800 and I have 4 kids .. 2 teens that still are still at home and just started high school... it can be done !! We also have 6 months of living expenses saved.. The KEY... Dont go into DEBT for anything ...

    The only debt we have is our home which is still an asset for us.. everything else we pay for outright or we dont get it ...
     
    D33RHUNT3R, Jul 16, 2012
    D33RHUNT3R, Jul 16, 2012
    #9
    bullhaulerswife and DaReallyst Thank this.
  12. Jul 16, 2012 #10
    danielrod87tx

    danielrod87tx Bobtail Member

    1
    1
    May 20, 2010
    Seguin, Texas
    0
    You hit the nail on the head D33RHUNT3R.
     
    danielrod87tx, Jul 16, 2012
    danielrod87tx, Jul 16, 2012
    #10
    D33RHUNT3R Thanks this.
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