Buying a truck.. Who should I lease on-to?

cowan ???????

 

This isn't what you want to hear so you might want to stop reading now. If you go O/O, the headaches grow exponentially. Every aspect of driving and running the business falls on your shoulders and being an O/O isn't about just swanning around a truck stop in a "large car." Look around at the number of O/Os still making truck payments after all those years and most have no retirement plan. Sound like your cup of tea?

I think anyone would be making a huge mistake to go O/O in this economic environment and when fuel prices could very well hit $5 per gal in the not-too-distant future.

Think about it; a trucking company can finance, buy, insure, operate and maintain a truck for fraction of what the O/O must pay. They have more business expertise and resources at their fingertips than we'll have in our lifetime yet they measure profits in pennies per mile. They use O/Os because they can make a couple of phone calls, take a nice fat of profit off the top and pass the headaches on to the O/O. Do you think you can beat them at their own game? I don't think so.

At 22 (with 6 months of exp) I think you're acting prematurely. You would be far better off to shoot for a decent company job, or better yet, a union job with great pay, full benefits and a retirement plan.

Frankly, you're staring at 50 working years ahead of you and we can't even imagine the state of trucking in twenty years. Unless you're physically handicapped or a person with a record ( I suspect you're not), go in the military, retire in 20 years and then go trucking if there is still a trucking industry that appeals to you. Trucking will look a lot better with that retirement check hitting the bank every month...

 

what a negative post!!!!!

 

I would find an insurance carrier,a company to lease to,and a good reliable mechanic(assuming you won`t fix it yourself) before I bought anything.At 22 the first two may be difficult or too costly for you to make a profit.You could buy an older less expensive truck in case you have to park it and return to being a company driver-at least you could still afford the payments.If you have trouble obtaining insurance,maybe you could hire a driver and team until you have a couple years experience.I fully understand why you want to do this and I dont blame you.Your age and experience is going to be a problem and it will be expensive.Freights cheap,fuels high.The less you know the more it will cost you.I don`t know any companies that I recommend to anybody to lease to.You might have to get your own rights and use load brokers until you find(if you can) your own customers.Good luck,young`n,you aren`t the first one to dream or stick your neck out against the odds.Think before you leap it wont be easy.

 

Pray about it, and if you think you can do it, Go for it! I wish I could!!

 

I don't know about that. I've got a business degree and a desk job and still want to drive a truck! Go figure!