advice needed please

Well going out on your own is a big jump.
You have been out for a few years correct?

Do you still have contacts with the freight moving?
Insurance might costs you a bit more.
You will need at least 6/10 grand in the bank just to run your trk. and help cover minor break downs.
Then you have to get the loads you're looking for. Billing costs, waiting up to maybe 30 days for payment.

Or do you plan on leasing to a carrier?

Do you have a bussiness plan laid out yet?


there are a lot of unanswered questions still that need to be asked.
Please do not just jump out and buy a trk. thinking you will set the world on fire with all that money coming in. jmho

 

What to do with 40G depends on your age and other finances.If you are young and have no debt,I would put it into real estate;30 years from now your mortgage will be paid and you will have rental income.You should be able to find a nice 2 family at a discounted price and low interest rates;eventually the housing market will rebound and you will have rental income that will help you to retire in style.If you don't want the headaches of managing a rental,I would put it into stocks with the help of an investment advisor or service.I would stay away from buying a truck because of all the competition ,rules,insurance requirements etc.you would be up against.My wife's brotherinlaw had a truck parked at home for a year when gas was $4 a gallon cause with fuel costs and low freight rates it didn't pay for him to put it on the road.They lived on her paycheck and he was Mr homemaker.

 

Time to sit down and do some research. Get an idea of what everything costs. Some costs are the same for you and me and some will be different, such as insurance. When I started, I wanted to keep my overhead down, so I bought I very high miler truck, a 2000 Freightliner Century Class. Got it for under $9,000. Had an oil analysis done and went over the truck VERY thoroughly before buying. I figured if I could keep that truck running for a year, I'd be able to upgrade to a newer, nicer truck. Kind of did the same with my trailer. It actually cost more than the truck though. If you're going to lease on with a company, you shouldn't have to provide your own trailer. Run the numbers and see if it works for you. Keep your overhead down, that's the key to the whole deal.