So you want to "own " your own company

Having experience as a mechanic should help you when you own a truck. So, you paid cash for your truck, but plan on borrowing for the rest of your start up costs? I don't have any contacts to rent or lease a flatbed in New Jersey. You may check the Truckpaper. There may be some listed. Some trailer dealers rent used trailers. You may also check with Xtra Lease or one of the other trailer leasing companies. You will need to purchase tarps, binders, chains, binders, etc. Buying new will cost you around $2,500. OOIDA will act as your registered agent and file the proper forms with the feds if you are a member.

 

much of that is handled by a transportation licensing company I already have on retainer. The other parts are handled by a factoring company or your accountant if you are using either.

The rest of it is handled by myself or the company I am leased on to.

All nice, but all you'd need is an MC # and a USDOT # (which is sounds like you have.) and a bunch of folks to lease on to you.

 

I will admit I've only read about three posts from this thread. I am a "partsman" for a very high volume OEM dealer on the west coast. I come from a family with a very heavy truckin background(CA924). As maintenance is concerned, parts will become a major expense, this is where I step in. Here I will offer common courtesies for you to give to your "partsperson", these tips will not only save you money but time as well.
1.Know your VIN#,. A Vehicle Identifiction Number(VIN) is the seventeen digits, identified by a sticker in the driver's door jamb,or/and also stamped into the framerail(In most cases). In 99%, of cases only the last 6-8 digits(of VIN) are required, know these 6-8#s like your own phone number.
2.Know exactly what part you need, either by proper name or "accepted slang". ie...Do not call your dealership asking for "the air valve towards the back of the frame?". A proper request would be i.e., "The relay valve that's in between the abs modulators", or "the height control valve", or "the quick release valve for the spring brakes", or "the solenoid valve for the fan in the AMU".etc...
3.BE (or at least seem) PATIENT when waiting at the counter or on the phone. Watch your body language, mannerisms, and tone. When the partspersons are out of ear and eye sight they will either talk about how rude you are, or how cool you are(this determines pricing). Basically your attitude determines anywhere from +-90% of over cost pricing on aftermarket, and +-50% of pricing over cost on proprietory.
4.Be loyal...If you find a partsperson and always ask for them...That's cool, but be very careful not to ask for someone else when said partsperson cannot answer your call. Basically what happens is the partsperson you "get" will pass the "sale" to the initial partsperson that you intended to speak to, (doubledipping). This adds "workload"(and a sense of disloyalty) to the initial partsperson,the one you should have just waited for. (This gets talked about amongst parts people as well).
5.Never ask for a discount. Never ask "Can you do better than that"? etc. You will "earn" your discount as a customer(volume,courtesy,knowledge,loyalty,etc).
These five points are just a very bare minimum of conduct for an owner operator to adhere to when dealing with partspersons. Realize as a Partsperson I could just say "I don't have it" Leaving you stranded.
I know parts is a small part of the big picture, but this is a little bit of inside, insight...

 

Very good ADVICE that many need to follow

 

ALL good points. I have had parts guys fall over backwards for me and those I constantly return to. And when you place that huge order for brakes/engine work etc. They can REALLY make it manageable in a hurry.

when I was a student for auto mechanics I worked as a parts counter person in a Champion Auto. We'd do much the same thing of what you describe.

 

do not think you will make it becase you have no truck payments. I know a few guys that you could give a brand new truck to and give them 10 years to pay for it and they would never have a dime to pay toward the truck. that false sense of security you have might be your worst enemy

 

I don't think I'm going to make it because I have no truck payments.. Although If I had truck payments I would have a nice newer truck that I wouldn't have to put money and work into it.i just put about 1400 in brake parts,wheel seals,lights and I ran into a few bad bearings and hub/bearing races.Being a mechanic I think is going to help me out the most!!!

 

As a dealership partsman I too have wondered New truck payment vs Old truck maintenance. My view is skewed though. I come from a family that has owned a "successful" small operation of trucks for over sixty years. I have never received a dime of income or support that was not directly related to truckin.
In response, YES you have to be your own mechanic. But....
This is not so easy to do, even without payments(Old truck). If you are going to take this route, know your game. Know everything you can about the "parts" and "mechanicals" of your truck. Do not be the guy at the counter that does not know the "color" of his motor? Believe me, it happens. Also understand that anything Old, that is still certifiable, requires "expensive special tooling" even for some of the simplest maintenance (fuel filter wrenches) and upto the more complicated repairs(fuel injector sleeve removers). Prepare to invest. Parts, service tools, and knowledge become key when being an owner/mechanic. Buy ALL service, parts, maintenance, and drivers manuals that pertain to your truck. READ THEM. FOLLOW THEM. LOVE THEM. Yes folks, these trucks come with instruction manuals. These are just the basics of being an owner/mechanic(trucker). Here's a little more.
A. Know a better truckdriver than yourself. Learn from them.
B. Know a better mechanic than yourself. Learn from them.
C. Know a great partsperson. Learn from them.
ABC is all you need to know. Touting or claiming you're "in" with management or sales(at a dealership), so you can get faster or better service, will only bring discontent to ABC. If you are doing things right these 3 points should not account for more than 33%(should be only 22.2% but I am taking quality of driver into perspective) of operational costs at the worst.
I am speaking from a dealership point of view and, admit more and more "truckers" have to deal with the dealerships nowadays.
My advice, buy a New truck(No repairs), and continue living in fantasy land. You might "save" now with a New truck, but do not expect to make any money once your warranty has expired(1-5yrs). Of course you will also have to consider downtime during "warranty repairs" of which there are ALOT. If you plan to own your New truck beyond 5yrs, and make repairs, consider buying a dealership because only they have the means to make simple programming "fixes"(heated mirrors, CPC parameters).
As far as being succesful these days in truckin you have to have a niche. You have to have a reason to have trucks that nobody else has. Its simple manage 1 truck profitably or own a hundred, a thousand, or have a niche. It's the only way you are gonna make money.

 

Lets say I hit the lotto for about 24k. I have been driving for almost 8yrs and want to become independent. How should this $$ be handled? Should I get a cash deal for truck n trailer, or shld I aim for something with a little warranty? Should I rent, lease, or pay cash for the trailer?? Can u help gman, lilbit??? I have 24k cash to startup, so I have achance at success, right?

 

Congrats on your cash holdings. You'll need a fair bit more, or take on some debt to realize the goal of becoming a motor carrier. If you're interested in maybe leasing on with someone like LandStar for instance, 24k *might* just barely be enough to get you rolling. If you're using brokers you'll want to get quick pay or use a factor for immediate cash flow, and roll the dice on breakdowns since you won't have a maintenance fund in place.

You can do something for sure, but you're going to need some luck on your side, or a good lender.

Welcome to TTR.