starting out

That is not such a simple question as you will see from the many varied responses you will get.

First you should have a couple of years experience.

Then do you mean as a lease operator or running your own authority as a carrier? There are several thousands of dollars difference.

You won't be able to lease to any company without experience. And insurance will cost $2,000 - $4,000 a year more with no experience and your own authority. In addition, you will most likely be given an operating radius limitation of 500 - 700 air miles.

If you are talking about a lease purchase you don't need any money. That is good because that is most likely exactly what you will have while in the agreement and when it's done.

 

I think newbs need to know what major component replacement costs are. If your transmission goes -$5,000. New radiator- $1500 (cheapy) to $1900 for a good one, plus labor. Virgin tires $400 and up, half that for caps. Two new steers and a 3 axle alignment runs $1200 ish. Kingpin job - $1000. An engine overhaul starts around $12000 an goes up depending if you get new injectors, turbo, ect. Charge air cooler $1000. If you buy a reefer and the compressor goes -$4000 to $8000. When buying a used truck look it over hard and ask the owner lots of questions on what's been done and ask for receipts.

 

Follow red and my threads of starting out under no experience but getting authority and yearly profit after expenses to get a general idea.

 

I would say easy double. You won't be able to lease with a good company until you have a year or two of experience. You have the same qualification process to lease as you do to drive.

For a lease, to make a truck down payment and have money for repairs, fuel and other operating expenses you should probably have around $7,000 - $10,000. This includes about a week of fuel and expense money. You would have about $1300 per month in truck payments.

With your own authority, to make a truck, trailer and insurance down payment, purchase authority, license, and permits and to have money for fuel and operating expenses you should probably have about $17,000 - $25,000. This includes 30 - 45 days of fuel and expense money. You would have about $2400 per month in truck, trailer and insurance payments.

Don't mistake a lease purchase offered by a company as truck ownership. Usually you are nothing more than a glorified driver. Few ever complete these agreements. Most never lead to truck ownership. Often you get a weekly statement saying how much you owe instead of a check. Many make less than they did as a driver.

Some have done it on less money and some have failed with more money.

 

If you want to learn about the way it's done and the costs, read these threads:

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/146942-how-to-become-an-owner-operator.html

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/147854-what-would-experienced-o-o-buy.html

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/125507-what-estimated-operating-costs-o-o.html

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/148340-keeping-track-o-o-operating-costs.html

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/134211-no-experience-but-getting-authority.html

 

new radiator was $3000. mine was rebuilt for $1500. plus 4 nights in a motel as it was the weekend. and that was in a decent sized town. could be higher if your in a town with only one shop and the radiator shop is 2 hours away.

the transmission that was rebuilt 5 years ago was $12,000. and the labor to R & R was done by the company mechanics. so, upwards of $15K. that one was local so no motels

 

If you can afford to get the trailer as well the little spent there will make a fair amount more money than a lease. If you are going to do a lease purchase be sure the contract is fair and not only towards their side. There is alot of money to be spent out here (we are learning this quickly) so be sure to have some put back for the unseen future.