Some numbers for new O/O

What Insurance Do You Have??

 

So i figured its been around two years since my last update and id throw out some current numbers since its been a while. And keep in mind several of these are rounded up or down since i'm not going to just copy pasta that much personal info and i'm missing a few minor things since i'm still waiting on some end of year documents to finalize for my final numbers. But eh close enough

Truck payments: $21,000
Insurance $13,000
Tires: $11,700 (it was a bad year for tires, stupid scrap yards)
Maintenance: $6500 (oil changes, lube, alignments ect.)
Repairs: $38,900 ($15,000 was my transmission and was planned, around 12K was leftover out of pocket from amazon bounceing a truck off mine)
Wreck downtime: $22,120 (down for nearly 3 weeks...stupid amazon)
Fuel: $80,000 (quickbooks says my average for this year was $4.38 per gallon)
Driver pay: $72,000
Supplies: $4,200 (tire chains, spare lights, oil, coolant, anti-iceing for trailer bed, grinder discs, lader ect)
Trailer payments: $14,000
Taxes and fees: $12,000
Tolls: $2950
Towing: $1900
Lawyer/accoutant/people i pay so i dont need to spend hours screwing with it fees: $2200
APU related expenses: $8800 (mostly payments, oil changes and such)
Loan repayments: $19,000 (dont ask, sometimes you gotta do uncomfortable things to keep the truck going and my first year was rough though its all zeroed out now so yay?)
Health insurance: $6,000
Work clothing: $1,200 (irs lets me charge my work boots and coveralls since 90% of my customers demand them. so i'll be ###### if they get money for these because i didn't want to put them on my work expenses)

Quick books says i am sitting at around $350,000 total income, though that's before final taxes and those last few items are added and subtracted so is subject to change by around $10-15K in either direction. Honestly it was a pretty good year all things considered. One of my best so far. Funny how when my truck is not on fire in the shop every 3 weeks i actully make a fair amount of coin. Also weird i actully have not only money left in the maintenance account at the end but more then i started the year with lol feels good.

 

How many miles did you run?

 

Just shy of 140k

 

That's a lot of miles. Seems like you could cut a lot of headache out of your life and also increase your profits running brand new equipment.

 

You would think so wouldn't you? I was actully pretty close to pulling the trigger on a brand new mack. Then i checked the math after they bumped the price up for the 8th time. Between the economic downturn, the ongoing parts shortages, the fact i could not survive another truck like this one, my only being 4 payments from owning this truck outright, especially after how much i have fixed or upgraded while the cost of swapping to a cat and stuffing new axles under it being less then the down payment i would need just to get my macks monthly payment down to double almost triple what im already paying.....

It really just makes a lot more sense to keep this, finish making it as perfect as i can and wipeing out my debt instead. Then building a nestegg and getting a new truck when im sure i could survive it being down for months playing whack an issue with the emissions system. Absolute worst case i have fixed so much i am absolutely sure i can have a good shop that can out of frame my crapar mx13 for around $20K and not ask too many questions, and that should easily buy me another 500k-850K miles to further build a nest egg. And if that still doesnt work, the truck and most of my debt will be paid off and i can always just walk away clean and try again later.

I just dont feel confident that taking on a $4000+ a month payment for multiple years going into a downturn is a great idea. Too many unknowns and too much risk for my comfort. Hell in 11 months at the current rate ill have nearly all my debt zeroed if i just do standard payments. Why screw that up taking on more debt then everything i owe combined now with a payment thats nearly 50% more then all my payments combined as they are now?

 

140,000 miles
350k dollars ???
in 2022 I run shy 23k miles and I grossed shy of 85k dollars.
what do you haul??? amazon loads ?????

 

End dump, landscapeing, rocks, fill dirt, sand, scrap and stuff. Usually i gross higher. Last year was something like 430ishK for 120ishk miles. This year was pretty slow and a lot of our high volume movers didnt. Still 72K in my pocket with 25k in my maintaince account is pretty good considering i started the year negitive.

Enddump is all about bulk lol.

As an afterthought im not sure why that seems low to you. I love what im doing, the money is more then sufficent for my needs and im paid about as well as a normal experinced company driver even considering all the #### i delt with on my rig. Plus once the truck is paid off and everything is squared away ill be making good money by any standard. $2.5 a mile average (it was a little higher actully, i just round a lot of numbers to hide personal info since i aint going to copy paste everything for obvious reasons) is pretty decent.

 

My numbers are similar to Arctic Fox, and being that I've didn't work for a month I was pleased with it. But you made it sound like we're just a bottom feeders. So what are good numbers?

 

So, it seems that you got around $90000 net. You could make more as a company driver for a decent company - 140000 * .70 cents/mile is $98000.
Why bother?