Finally got my own truck

I smoked for 22 years and quit 8 years ago. I still try to find my cigarettes every now and then when I sit down in my personal vehicle. At one point I was a three pack a day pizza delivery driver, in that same vehicle.

 

Clearly it is possible, or the megas wouldn't exist. They typically buy new trucks, run them a few years, then sell them.

Economy of scale is part of the answer that the Megas use though. Fuel buying, maintenance, etc, is typically done for less cost than a solo operator can manage.

I strongly suspect that most owner operators that buy a new truck as their first truck dont stay afloat long. Buy that used truck from a mega with 100k miles warrantee on it. Maintain it. Drive it till it dies. Buy another used truck, maybe a better one with less miles on it. Put the first truck in the shop and start bringing it back to life slowly if it is mostly sound.

From that point on, swap trucks and upgrade/fix the truck you are not currently driving. If one of the trucks becomes a true lemon, sell it for parts and replace it.

That's the path I am considering anyway. If I do decide to go owner operator.

One of the things that might make or break this plan is insurance costs for month-to-month coverage. If I have to buy coverage on two trucks a full year at a time, swapping trucks every few months while the other has maintenance or upgrades done might be too expensive.

 

It probably will. I attempted this recently as we had two trucks and was not interested in hiring. I was interested in keeping both trucks for your reasons mentioned above. As told from the insurance company, one would have to pay liability insurance twice, and both trucks under the same driver could share the same cargo insurance. So by the numbers that came out to about an extra $7500 per year extra just to keep both trucks available. Plus tags and elogs depending on if you run hard wired elogs or not

 

Cmon man. Are you a native Indian?
People can have that argument in Island or somewhere similar,but US from the beginning was a country of immigrants.

 

wrong you don't want to buy used truck from a mega they are known for going 50k between oil changes cause they don't care they trade them in at 300k miles and by 500k it needs an overhaul. I was very careful when I bought mine in 2012 it was a 2006 with 860k miles on it but it was only owned by owner operator which took care of it at 1.1 mil miles i overhauled the engine and now in 2018 its still running strong. best investment i made. even before overhaul i was spending 25k a year in maintenance. not bad for a $22,500 truck been driving it 6 years and still going.you don't need a new truck or close to new truck. ive been sucessful cause i started out my own authority, my own truck and trailer i paid cash for. and started out with zero debt thats how you minimize your risk in this business what happens when the rates fall and you cant make your payment you already lost. what if you get sick or need a surgery. I had a big cushion i would go out for 3 months come back home and i could afford to take 3 months off and still be fine. you need a long term plan you cant make it on a week to week basis.

 

I’m buying new next time around, with repairs and what Im paying for this one I could just drive a new one with a warranty and come out pretty close, . yes new ones break down but I’m not footing the bill lol..

 

Love your posts BW. You studied for years, bought new, got your authority, struggled, ran illegal, pondered replacing front tires, figured out you can’t do it like this forever, started making money, went through burn out, got motivated by a team driver, found out how tough it is, saw some softening in the market again, all the while becoming a solid business owner.

I’m fairly young myself and this business will make or break you. Real life slaps you in the face so freaking quick. I love seeing you become a hardcore Trumpish conservative if you weren’t already. Sometimes you have to walk the walk before it all makes sense. Also, you have become quite negative and jaded because what we do is no game, it’s dog eat dog and nobody will miss you when your gone. It’s I agree, frustrating seeing others undercut your livelihood.

Anyway, I’m proud of you and your not the same person as a year or two ago. Your probably much less happy and cynical but it’s what it takes to be successful in the long term. You will prevail and have the last laugh.

Side note: As drivers we all think we should be paid out the roof and it’s true! We should! However, economics don’t always allow it from a trucking company standpoint. Find a middle ground that puts less pressure on you as an owner. Your clearly stressing and don’t want to let Rob down. It’s admirable. Just be smart about it. At this point you would be better off to put him in a second truck.

Haters gon hate.

 

I'm a Canadian driver and YES they do check. We are not even allowed to move an empty trailer. If I drop a trailer at a warehouse and grab an empty I can't drop that empty at another plant and take a loaded trailer back to Canada.