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Truck and Trailer monthly payment $5200 too much?

Discussion in 'Ask An Owner Operator' started by Letsgetreal, Jan 7, 2017.

Page 1 of 4
  1. Jan 7, 2017 #1
    Letsgetreal

    Letsgetreal Light Load Member

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    I recently met with my buddy. He is now an owner-operator. I am proud of him, but he said he's paying $5200 per month for his truck, reefer, and insurance. This blows my mind because I think it's really expensive. What do you guys think? He has a new truck that he pays $2500, a used reefer that he pays $1200 and $1500 insurance? I think it's too much. I don't know how is in business, but he told me he takes meet from Nothern California to WA.
     
    Letsgetreal, Jan 7, 2017
    Letsgetreal, Jan 7, 2017
    #1
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  3. Jan 7, 2017 #2
    nax

    nax Road Train Member

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    NO ####!...

    Ask him to join TTR and offer his POV....

    These "friend" stories are usually people talking about themselves...lol
     
    Last edited by a moderator: Jan 7, 2017
    Reason for edit: Skirting profanity filter
    nax, Jan 7, 2017
    nax, Jan 7, 2017
    #2
    TequilaSunrise Thanks this.
  4. Jan 7, 2017 #3
    Socal Xpress

    Socal Xpress Road Train Member

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    That is steep.....How well does the freight pay him?
     
    Socal Xpress, Jan 7, 2017
    Socal Xpress, Jan 7, 2017
    #3
    Pnwtrucker Thanks this.
  5. Jan 7, 2017 #4
    Pnwtrucker

    Pnwtrucker Medium Load Member

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    Yikes $5,200. Glad it ain't me
     
    Pnwtrucker, Jan 7, 2017
    Pnwtrucker, Jan 7, 2017
    #4
    blade, Letsgetreal and Mike2633 Thank this.
  7. Jan 7, 2017 #5
    Bakerman

    Bakerman Road Train Member

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    First year owner operator out on his own, 20 grand a year for insurance is not out of line.

    New truck payment sounds about right, used trailer payment sounds quite a bit high.
     
    Bakerman, Jan 7, 2017
    Bakerman, Jan 7, 2017
    #5
    blade, akfisher, ReeferOhio and 2 others Thank this.
  8. Jan 7, 2017 #6
    BoyWander

    BoyWander Road Train Member

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    It's certainly possible...if the insurance includes all types, like general and trucking liability, cargo, non trucking, physical damage, etc. and new truck and trailer, it can get close to that. You mentioned reefer, I don't know for sure but maybe cargo insurance is more expensive for that type of freight.

    The cost of my truck, trailer and insurance will be like $56,000 for this year.
     
    BoyWander, Jan 7, 2017
    BoyWander, Jan 7, 2017
    #6
  9. Jan 7, 2017 #7
    nax

    nax Road Train Member

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    @BoyWander ...Did you consider "Power-Only" for the short while....and only do drop & hooks
     
    nax, Jan 7, 2017
    nax, Jan 7, 2017
    #7
  10. Jan 7, 2017 #8
    iRookie

    iRookie Light Load Member

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    Sounds about right for a WANNA BE OWNER OPERATOR that's hauling cheap freight just to make a truck payment and netting less than McDonald's entry level employee.

    626c0fe6a3a099f1bd3ea158b3a08527.jpg
     
    iRookie, Jan 7, 2017
    iRookie, Jan 7, 2017
    #8
    blade, cnsper, Lepton1 and 3 others Thank this.
  11. Jan 7, 2017 #9
    Letsgetreal

    Letsgetreal Light Load Member

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    No, I am straight forward. Why would I hide it here? Good point though lol
     
    Letsgetreal, Jan 7, 2017
    Letsgetreal, Jan 7, 2017
    #9
  12. Jan 7, 2017 #10
    Letsgetreal

    Letsgetreal Light Load Member

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    He didn't tell me. He looked happy. Supposedly, his reefer was expensive because of his credit.
     
    Letsgetreal, Jan 7, 2017
    Letsgetreal, Jan 7, 2017
    #10
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