load boards and buying a truck

The point behind the lease is that when you lease instead of buying you can get a maintence contract, and some type a assurance that if you wreck it or it breaks down, you can get another truck while yours if getting fixed. That is how I did it with Prime. Prime lease offers another truck in those situations so you can keep on going. You can even take it to another carrier, because you don't lease from Prime, you lease from Success Leasing. Now, the two go hand in hand, but the deal is still there. I leased with Prime (got an older truck with only 16 months left on the lease) and did real good. Saved enough money ($15,000) to get the down payment on my new truck. And here I am today. I would go with Landstar but for the trailer rental of $175 a week; I still run with Prime, my truck, their trailer and get 72% of gross.

 

Ryder and Penske will only lease if your have been in business for more than a year or longer. Trailer rental companies ie. TIP, XTRA etc... will only reny under the same criteria. I believe TIP wants to see your bank account. I believe they have to have a couple of houndred thousand in hte bank. As far as brokers go the load boards are full of them. Now about pay, you can get set up with a factoring company which (if the broker or customer) is set up with the factoring company or approved by the factoring company they will pay you within 24-48 hours after they receive your B/L and confirmation sheet. RESEARCH the factoring companies first. I have done alot of research and narrowed the list of factoring companies that we recommend to our customers.
Hope this helps

 

Load Boards......NO.
Land Star .........NO

If you are gonna do it, do it to succeed. Why make someone else rich? Why get hit with all kinds of deductions? Why deal with some one who cannot just say 65% of 100% instead of 67% of 98% ( same house, just different color)

Next, get a little more experience, and preferably varied. Find what suits you and the kind of money you would like to make. I recommend reefer, some recommend flats, some drop decks, basically find a niche' , and that comes with experience.

And, don't rely on credit cards..... yes you need some credit, but loadin' up the ol' visa for a run or two isn't the way.
And Ryder for truck.........NOOOOOOO!
Just go buy a decent used late model to start with, but again, that experience word comes up, and thats he only way you are gonna know what to look for in a good used truck without getting taken for ride.So to speak.
The only thing I would recommend leasing is the trailer, and only if need be.

I would also recommend trying to have around $10K in the bank.There are a few good brokers who pay within 24 hrs, and some that pay within 14 days. But with these guys, you need a reputation, and thats gonna be hard fought starting out.
Now you can Factor, but I would personally save that as an emergency option.
With all of this in mind, think about this, you can run for someone else and make around $150,000....or run for yourself, if you've got the entrepreneurial spirit, and make upwards of $300,000.

Before I get bashed about the head and upper torso, let me say Land Star is good for what it is. They have "buying power" for parts and the such.
They offer 67% of 98% with their trailer ( which rental is charged) instead of just saying 65% of 98% ( usually only a .01 cpm difference) and to be honest, their rates aren't so hot.

Been there.......Done that......yada yada yada.

 

Anyone willing to explain that DAT board thing real quick? I see them all the time but no one actually using them.

 

Yep, I will add to that again. Stay away from Landstar. As far as I am concerned they are one of the worst choices to make.

Trucks: You better have experience and no what to look for when shopping. It's not just breaks and tires and the like. Any used truck needs a warranty and you need to insure the engine mounts are in good shape, hoses are replaced, belts are replaced, change the radiator cap just to make sure, spacers in spring shackles, leaks of any kind, and the list goes on and on. When training, get to the point where you check everything on your truck so you know what to look for. No walk around is considered a safety inspection and a normal safety inspection will not get you into the habit of looking for things most pass over. Nose to tail, you should be familiar with every bolt, and part on your truck. Then you will be qualified to go looking for a truck.

Too many buy used equipment and end up in the shop with a $6,000 to $12,000 price tag to get back on the road on top of the payments. Not a good thing when money is tight. Check those hose brackets to insure they are tight; especially in the winter months as they will leak.

 

What do you call looking at loads on internet, figuring out which agent is straight? and paying trailer rental on top 35% cut? (providing you do not have your own)
Not trying to pick a mb fight, just trying to point out a few commonly overlooked details.

 

Let me put it this way, I use to haul farm freight out of Pasco each winter and it paid good. Landstar told the Landstar agent he had to report his contract to them. Landstar then signed a contract with Associated Freight Brokers and no one could afford to pick up and deliver that freight.

The agent was having trouble making it and could not get trucks in. Pretty soon there were other companies pulling the freight.

Landstar has some good agents with some good freight. If you are with them and for a while and especially if you specialize, you can make some money, but far too many were going bankrupt.

There is not real money with Landstar as the main office only cares about the races in Florida and the Golf Course. The Owner Operators are just Asset providers to pay for their habits.

They don't pay their office personnel very well and had a big turnover while I was with them, and you can say all you want about making money with Landstar, but the fact is after they get their cut, you are just an asset provider and nothing more.

What does it cost of buy a decent truck and equipment?
What does it cost to keep one of them running?
What does it cost to buy a home, automobile and take care of a family?
What does it cost to put kids through school?

It just does not add up. I made more with Schneider than I did with Landstar. Now, before Associated Freight Brokers, Landstar had some good rates and things were much better.

Just because a few drivers are doing well, does not mean the rest of the fleet are making it. Then again, some drivers don't need more than a new pair of boots on occasion, so you can't tell me Landstar is worth the trip.

There are too many that have quit or forced into bankruptcy that worked for Landstar. Now, that being said, the same goes for many companies out there because the money is not there to pay for the operation, safety and provide a decent living.

Sorry My Friend, you can't tell me I don't know what I am talking about. The figures don't lie and I will not work for nothing. After Associated signed on, I argued with Landstar many times about the rates to no avail. Then I started the habit of just staying home while others struggled to make it. My truck was paid for, but I needed to spend money to rebuild the thing as there was not enough money to consider a new truck and I did not want the payments. After rebuilding it, I thought about just changing companies, but I was tired of the BS and sold out.