Need advice on best way to get a truck and become an O/O

Look I've been an O/O for over 2 years and I can tell you that if you don't have at least $25,000 safety net of cash don't even get in the business. You can finance all day and set back and say i'll be ok, nothing will go wrong. A motor replacement is upwards $30,000. I purchased a 2007 KW in 2018, 2 months after I had it injectors went out so there's $3,000 right off the bat. You set back and try to convince yourself things will never happen but they will. Considering your situation IF you have a safety net of cash then finance a truck and lease it onto a reputable company like Landstar where they always have freight because as you can see the Pandemic has starved several trucking companies out but, who's still working Landstar.

Other companies I have personally worked with that I know have freight and can always keep you moving are JB Hunt, CFI, USA Truck but, granted they don't pay that much starting off as an O/O. Don't kid yourself man you can't be Billy Top Dog your first day on the job. You gotta start small and work big. Those companies like JB Hunt started with nothing and got to where they are today with good ole hard work so that is my advice to starting a business as an O/O

 

No clue who are the people that you talked to but if you don't have enough credit to get a good APR, you don't have enough credit to get a good lease. Or any lease for that matter.

Usually leases require higher credit score then purchasing.

50%APR? Are you talking to the mob?

My FICO is 680 and I'm pre approved for a UNSECURED $35k loan at 18% @36 months.

 

Look in our jobs section. If you have a year with a clean record, you can get in for $0.

If you can pick up and deliver on time, and not get into trouble, you'll do well.

 

Have you talked to your own bank. I haven't done that. I spoke to a place I'm not going to name that sells used Peterbilts in Ohio need I say more.

 

But you can get a good deal on a truck. Ha Ha

 

You cant tell them anything. They see the spike in rates and what do they wanna do... rush to buy a truck because it "seems" like a good deal.

 

I started with basically no experience almost 2 years ago. If I was not creative I would had went down 9 months ago when I had to do a rebuild on my motor after spending 30K on fixing it the first year. Rebuilt platinum 29K. On top of that I am at about 17K for this year. Finally got this truck running right now. 30K in the bank would be wise after you purchased truck.

 

Never in the history of trucking has there been a "good" time to get into your truck or trucking, according to all the experts on here.

The rates cycle, as long as you understand this and are well capitalized you have as good of a chance as the next guy.

 

I agree. If you can make it when it is bad you will do well for yourself if your equipment lets you.

 

Going through the motions, is one thing. Understanding it all is another. Learn all you can first. Just signing on the line, and figuring it out, as you go, can end in disaster, real quick.