New authority and new CDL insurance estimate

@blairandgretchen has a pretty good thread. Although I think he’s leased to landstar it still has good information that pertains to both. Whatever you do, don’t listen to @MonetaryWage he is clueless. Unless your goal is to haul sea cans with a clapped out century.

 

New authority insurance is high for the first 3 years. You stated that you have a new CDL, if you can find anyone to insure you it will be EXTREMELY EXPENSIVE! I know that you don't want to hear this but, get some experience as a company driver first. You are going into a very complex business with no experience which could result in financial ruin.

 

Let’s do a math question.

Trucker A has a $10k clunker, hauling sea cans at $2/mile and is debt free. He averages $6000 gross a week.

Trucker B has a $216k rocket ship and hauls super duper loads that brokers only assign if you have a 2020 $216k rocket ship and he earns $3/mile and averages $6000 gross a week. He has monthly payments of $7500 a month for 5 years.

Who’s richer?

 

Again just more talking out of your love tunnel.

 

Well this got interesting…

You cannot even profitably run a truck at $2 per mile with or without a payment

 

If I owed a bank a $600k for a depreciating asset, I wouldn’t be on a forum. I’d be wearing my diapers running loads. You might want to get going.

 

Could be right. We should ask Bumper Jack what caused his fleet to collapse. Was it the rates or the $100k a month overhead?

 

That’s because you don’t know what you’re doing. How did I jump to owing 600k. I said I bought a truck for 216. Where did I say I borrowed 216? Much less 600? You really have made yourself out to look pretty silly. That’s what happens when you talk about things you don’t know anything about. I’m not sure you can recover from this.

 

Too many drivers refused to wear a diaper.

 

Your financial education continues to be your downfall in the trucking industry. I admire your heart and dedication, but if you don’t comprehend that that $216k you borrowed is $600k back to the bank or some similar astronomical number then you are in deeper diapers than I had originally thought, and I apologize for engaging you in a back and forth. K-12 did you little justice.