please steer this wannabe trucker in the right direction

First of all, 5k is about the going rate for a CDL school. If you've never held a CDL before, you need to do the 4 week course in order to satisfy the insurance companies of any future employer. There is absolutely no reason for you to stay in their motel (except extra profit for them).

If you go the route of company sponsored training, you will be indentured to that company. It is always better to do a private school if possible. That will give you more job options and most companies will reimburse part or all of the cost of school once you are hired on (its usually paid out over a period of several months, so don't expect a lump sum). The only purpose of a CDL school is to teach you the bare minimum to pass the state CDL test, so the cheapest school you can find is the best choice. Your real training starts when you get hired on and go OTR with a company trainer.

Most drivers will tell you that it is a good idea to work for a couple years as a company driver before going the o/o route. This business is cut throat with a steep learning curve, so it is very difficult for someone with no experience in the industry to jump right in to being an o/o and not losing your shirt.

good luck

 

You have asked a lot of different things and I know you are going to get different answers. So just add our opinions to your own experiences.

1. Schooling. All a school teaches is how to pass your CDL. That is it. You will learn to operate a truck by doing so and that will take about 2 years. That is according to the insurance industry. Most but not all companies start off by paying you below the going rate to offset the higher cost of insurance and the damage to the equipment you are going to do.
A company sponsored school has the advantage of not costing you anything out of pocket. It also usually has an offer of employment included. I went to a community college. The cost was $2500. The same financial aid packages there as in other college courses. You should be familiar with that system. Pell grants and all.

2. Buying a truck. I disagree with most of the drivers on this question. You right now have only a little idea of what is involved in trucking. That is a big negative against buying a truck. However, trucking is a business. Just like any other business. So it would be possible to buy a truck on day one and be successful. I have a very strong business background. I could have purchased a truck and started on day one. In my first three years, I totaled 2 trucks. I would not be in the trucking business now. I do not think I would want to be in the trucking business now. But that is me. You might be better at paying attention to the speed which you are driving then I was. You might be a better natural driver then I am. You might actually care about little trees, stop signs, and fire hydrants that seem to jump into your trailer. I do now. But when I first started I only knew they were there after I ran over them.
If you do buy a truck and trailer, buy brand new equipment. The big companies do that. They do it for a reason. I will not go into it here because it going to get a lot of folks who think they know better all fired up. Ask a tax lawyer. Also, unless you know how to fix a truck buying something that is in excellent condition is a better bet then something that someone else was trying to get rid of.

Lastly and it should have been firstly, join OOIDA. I recommend a newbie take their webcourses if you are wanting to do this without working for someone else. Both the 2013 and 2014 classes. Google to find the website.

Chinatown will give you a list of companies with good company sponsored training. I am betting one of those companies will be Mills Transfer.

Good luck and feel free to ask any question. The advice here is worth almost 3 times what you pay for it.

 

First the bonus is not paid to you in a lump sum. It is a carrot that is held out to you. Companies that offer bonuses take what they should be paying you all along and hold it out of your check and then give it back to you over time.

The plan that will provide you the most chance of success but is not based on any particular skill set that we do not know you have is to

1. Join OOIDA.

2. Go to a low cost community college for training or do your training at a company sponsored school provided it is a school that Chinatown (our local expert) has recommended to you.

3. Take the OOIDA courses on how to be an Owner Operator. Do that while working for a company and letting them provide you the experience that you will need to safely operate a commercial vehicle.

4. When you understand the term "Your own Authority" apply for it.

5. Start shopping for a truck and trailer. Buy new if you can. Buy quality used if not. Cheap isn't where you make money. SBA loans are a good sources of financing. Keep a good business relationship with your bankers.

6. Figure out your lanes. Figure out where you will find your freight. That should be in your business plan when you apply for a SBA loan.

7. Forget about the romance of trucking. There isn't any. There is this little waitress at the cracker barrel in Atlanta but she is mine.

 

That's not the case with the company schools I've investigated, so be sure to check before you commit. I went through Swift Academy, and was not obligated to sign with them.

A better route is to attend the school that is sponsored by the company you want to work for...

 

The OOIDA is the Owner Operator Independent Driver Association. Good organization, I am a member.

You have a legitimate MS degree ? Something in Management or Operations would seam more...fitting.

 

It is true that no company can MAKE you work for them. But if you go thru the company school then bail, you will be on the hook for the whole cost of the training. And from what I've seen, it's usually much higher than if you went to a private 3rd party school.