Taking the plunge. My journey as an O/O.

Farmerbob, I don’t know if You remember or not, I was one of the only ones, who said You can make it, when You first started out. You’ve got a good work ethic. That’s the main thing in your favor. I started to say, yesterday, that soon You’ll be trading, only to find the same situation, after a couple years. Only deeper in debt. Trying to be pre-emptive. I Understand this thinking. Everyone does. IMO you should run this Truck, as originally planned. What’s done is done. It’s a tool, resale will be low, now or later. Best to get your money out of it, at this point. Stick with original plan.At least till You can upgrade without losing more. They’ll be glad to sell You a new Truck. Juggle the numbers around, You’ll end up paying Top Dollar. This Truck will never be new again. No matter how much you spend, it’s only worth what the bank will loan. With a little luck, You can get out of this one before a major OH costs you more money than it will be worth at that time. Forcing You to keep it even Longer.Tighten up, get quotes before letting them work on it. Hold them to it. Doing this on a one job at a time basis, will save You money. It mainly lets them know upfront, that you’re not to be taken advantage of. Most repairs have a flat book rate. That’s the question to ask, along with worst case scenario. When it comes time to pay the bill, sometimes you have to be an as#####. And challenge the charges.Otherwise, they’ll take all they can get. At this point You need to keep on a strict per month maintainenance cost schedule. Under $1000 a month on average. Always taking care of safety issues, but wait on other wish list items. The espar heater could have waited a couple months, for all you know, it will need more work before winter. U Tube has info on maintaining it. Pretty simple stuff. You’ll be surprised at how long some things will last, despite what Shops will say. The old “ might as well replace everything, it’s got 600 k.” Not true, the rest of the Truck is still old. Never be new again. Make the money first, then spend it. I know, I’ve made all the same mistakes, You don’t know desperation till You blow an engine, then wreck the Truck, after spending a ton of money. Out of options, no revenue, bankruptcy and foreclosure, the only option. I learned the hard way. Got to stay ahead of it, and have an exit plan. Like You originally planned. Just been set back a bit. Not too bad yet. Changing Companies, costs money too. More uncertainty, too risky at this point. Till you get ahead some. Good Luck, Your honesty shows character. Watch for the Sharks.They are hungry!

 

Good idea on the new truck, but bad on the Schneider.

 

Man, you took the words out of my big mouth. Only I was going to add, talk about jumping out of the pan into the fire.

 

Landstar would be my choice with a van but he is convinced that since they require a hazmat endorsement he will be required to pull hazmat loads.

Who would you recommend?

 

When a company driver makes more money than a self employed owner that’s working as much or more than the company driver there is no rainbows. It’s got nothing to do with hard work it’s simple math. I’m really glad you are so open to show everyone the real numbers.
I do wish you good luck and you succeed but no way I would even try what you are doing.

 

And at Schneider, you can get that new truck. However, I wouldn't recommend it. With as much money as you have tied up in your current ride, you need to keep that rascal for at least another 2 years.

 

Sni will be a huge leap ahead as far as learning and revenue. I recommend Landstar as well, but if you think Sni isn't a huge leap forward to being dispatched and revenue you are fooling yourself.
Right now his problem is maintenance per mile numbers. It is to be expected with a half million mile emmision truck.
I strongly recommend focusing on revenue before spending another cent on non dot-safety issues.
@Farmerbob1 . You can do well at Schneider, but your gonna have a learning curve. I would get to stepping.

 

Also Bob, you have a new one box. With a Detroit that's half the battle. Run the truck for a couple hundred thousand miles and revaluate after you figure out the revenue.
I have always found the hardest part of owning a truck is deciding when and when not to spend money. You will figure it out.