Some experience - want to buy truck and trailer

Figure it this way;

If a truck gets 5 mpg and fuel is currently averaging $4/gallon (average over area I run), every mile you run you burn $0.80. If you want to pay yourself $0.30 a mile, then to just fuel and drive the truck it costs you $1.10/mile. Then you have fixed costs like; fuel tax, bobtail insurance, occupational insurance (get through OOIDA and you'll save enough in 2 mths to pay for your yearly subscription), plates (if you lease on, etc. You see quickly that $1.20-1.30/mile is just about break even - even if you purchased the truck with cash (which I HIGHLY RECOMMEND).

So, how can an O/O make it? Do your homework. I would say that you should pay yourself enough to pay your basic personal bills for the first 2 years and bank the rest in the highest interest SAVINGS ACCOUNT (because you WILL NEED funds for repairs) and let the money build. You have to realize that nearly 60+% of all money you will make will be taken by the truck in some form. Be it maintenance, fuel, insurance, taxes, replacement of the truck (which if you last long enough, you will have to do it).

There is also the time side that hardly any new O/O realize. To save money, you will be working on your truck; starters, air bag replacements, turbos, and other easy R&R jobs doing yourself can save you THOUSANDS - especially when you are on the road. Be prepared by stocking your truck with tools.

With all that said, you CAN be mildly sucessful being an O/O and enjoy more freedom than a company driver, BUT there are serious sacrifices. Good luck.