FCC--Fremont Contract Carriers

Just finished my taxes last week, I netted $91,500 last year. Now keep in mind I had an extra .07 a mile coming out each settlement going into my slush/vacation fund. I was able to pay my bills at home, take on average 6 to 7 days off a month, and put $10K a year into a savings/retirement account, and meet my quarterly tax obligations.So in my opinion I did just fine on this program.

 

This was my third try at being a L/P-O/O I made my share of mistakes the first two times, but I learned from those mistakes. The mistakes I see L/P or O/O make for that matter
1.They get these big settlement checks and don’t plan for breakdown or paying taxes.

2. Put extra money away in a rainy day fund in case of breakdown or paying your fixed costs when you do go home. Because your fixed costs don’t stop because your broke down or your home for a week.
3. Build your maintenance up as quick as possible, and I always tried to keep at least 10K in my maintenance fund.

 

I’m not leasing again, when my oil analysis comes back I will decide if I’m going to keep this truck, and squeeze another 75 to 100K miles out of it, or trade it in. A dealer has already offered me $23500 as a trade in on something newer with less miles, but another salesman suggested I sell it on Facebook market place to a private buyer and could probably get $30K easily. From doing research my truck with similar mileage is selling for between 30 to 35K on TruckPaper and similar sites.