I’m sure it’s a common question on here somewhere but I will own my truck this August. Been a driving for 8 years now I’m familiar with the basics from calculating gas mileage rate to move the truck how to find loads and read and understand a load board IFTA and factoring. My truck is relatively new 2017 Freightliner currently at 422,020 miles practically have either replaced or repaired all kinda normal ware and tear items or something jus went bad after i receive my title I’m interested in going to get my US DOT and MC numbers ASAP would like to know what’s a decent capital to have stashed away to get the ball rolling outside of start up fees n dues until first few loads pays out
Minimal capital suggested starting off as a O/O
Discussion in 'Ask An Owner Operator' started by The Highway Hustler, Jul 16, 2019.
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There will be some on here shortly letting you know, that you need enough that you would never want a truck anyway. lol
tommymonza, Rideandrepair, Opendeckin and 3 others Thank this. -
I’d say absolutely as much as you possibly can. Sounds like your already getting a truck next month and then your authority so at this point it doesn’t really matter.
Rideandrepair, singlescrewshaker and buddyd157 Thank this. -
You need enough dough stashed away to run for 30-40days without getting paid..
Using a factoring company you can get away with a bit less, but that is my feeling..Rideandrepair, The Highway Hustler and Midwest Trucker Thank this. -
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What's a big repair bill?
How about 10 or so medium ones outside of warranty in years 4 and 5 totalling the cost of an inframe? (while still making payments in the 4th year) I cant be the only one!
OP: I would say best bet is to have enough to cover at least a months operating and access to a line of credit for everything else.
I did it like a crazy person. In the hole 20k, 100% financed on brand new, and bridged by a big fat low interest credit line against my home. It has worked out for me (always been leased to a carrier mind you) with hard work and a little luck - but the only input I can give (which isnt really applicable to you anyways) is just dont do it that way! And to be prepared for a bunch of medium sized repair bills.Last edited: Jul 17, 2019
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