My husband is thinking of becoming owner operator in about a year. Could anyone tell me more about it? Is worth doing or are you better off staying company? How much are truck payments and do you pay for repairs yourself? Any information would be apperciated!!! Thank you!
It is great to be an O/o.. It is also horrible.. When you get the $ 2500 check you are floored... When you get a $15000 inframe bill you will hit the ceiling.. When you decide to take off good go for it it is your time.. no one cares.. When you decide to take off and you can't because the truck payment is due everyone cares.. To answer your questions 1.. It depends on him if he is independent and a self motivator go for it.. 2. Truck payments anywhere from a ok used truck at about 800 a months or a brand new Pete at 2600 a month....3.. Yes repairs are yours.. tires are yours brakes.. so on and so forth
Thank you for the information! Do you get.a card for fuel and then they take amount out of your check?
Ok what is the difference between owner operator and leasing? Sorry for all the questions new to the business.
You can buy a truck, put a deposit and do monthly repayments for X amount of years and at the end the truck is yours. All repairs etc are yours unless you have a new truck under warranty with a plan built in. That is buying. Paying X amount for so many years and they maintain the truck ( in some cases ) and then you give it back after X amount of years is called leasing. Once you sign that dotted line, you are committed for that period. Another thing is the tax. Not sure how it works in the States but here, leasing is 100% tax deductible where as owning is not. Another option to consider is either buying a good, cheap second hand truck and giving it a three month life span and after that, if you can see you will make it, trade it and buy new or another option is to source a owner operator who wants a break and make a deal to run his rig to see where the pitfalls are before committing.
Have you been reading as much threads as possible related to Owner Operator? If not, dig through as much as you can. There's a ton of great information through out this forum. Don't forget to "Subscribe" to some of the key/related threads to keep up to date with information. I can tell you one thing. I've been planning to get into my own rig, too. And there's is a lot of great info spread through out this forum. Good luck!
