You can take you test in an automatic...no problems there.
As for the loan against the house, I just hope you did not buy a brand new truck. If you were able to get a $30k truck, and you guys are going to lease on with a company, run under their authority and run teams, you have a good chance of doing ok.
Either way, I hope it all works out well for the two of you. I have always wanted to run with my father, but then again he has 5 million safe miles and been driving for 40 years and I just got my 1 million
Advice on getting a truck.
Discussion in 'Ask An Owner Operator' started by avatorlc, Oct 10, 2011.
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It is easy for a bank to say yes when there is home equity available, I always say "find another way".
SHC Thanks this. -
Dad died in 1998 - had i had a chance to go otr with him i would have gladly lost my house.
Some things are worth losing everything.Dryver and alien4fish Thank this. -
I wish you the best. There is no way on the planet I'd bet my house on a truck. Maybe when I was new though. Makes my gut hurt to think about the consequences.
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Thanks for worrying, i don't get into anything without thoroughly researching it. If for some reason driving does not work out for us my home equity loan is easily manageable with any other job I get.
We are setup to start successfully, All of my living expences & bills are covered for at least 4 months. We will be starting off with about 6k in operating funds in case of mechanical emergencies etc. And we do have a company to work for all lined up.
I am learning about things like 2099's and EIN's
I'm very excited about a Volvo 780 with 525k miles on it, they are asking 44k for it I'm going to try to get it for 40k with a 2 year power train warranty.
I will get the VIN number tomorrow and do a $20 one time look up on the truck. see what its blue book is. It's supposedly an ex US express truck I'm hopping that they take good care of there fleet.
I'm a bit concerned with the Volvo D12 engine and the problems with parts and EGR valves, Hopefully like all my other vehicles with proper maintenance and upkeep it will give us a few good years of service.
I will keep you posted. -
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My opinion is different that the other guys. Taking an equity loan is OK because you can get a low interest rate, but you need to hustle and pay down that debt to stay out of trouble at home--no excuses. This is not a high margin business, but rather one where high receipts are nearly matched by high expenses. Focus on costs and quickly build a reserve savings of $3,000- or so minimum to offset surprise repair issues. Keep in mind that you'll want to recapitalize for the next truck within the next 5 years or so. You'd rather not want to take out another home loan for the next truck or engine rebuild.
I don't like the lease contract deals out there because the big fleets don't provide good load prices. Tractor only lease operators are particularly at the mercy of the company whose trailers they must drag around. Rather, become independent operators and use the load boards instead. Learning to bargain with brokers for your loads is not easy, but at least you have a true marketplace for your skills and equipment. If you are driving team, you can discuss the value of each and every load before you commit yourselves. While one guy drives, the other browses the marketplace, trying to determine the next opportunity.
So, your dad and you can team drive and get very good wages--but only if you also have your own trailer. I recommend a reefer trailer, because produce and other refrigerated loads are more often time sensitive.
If you buy a truck at an auction lot, pull off the valve cover and check the cam wear as a starting point for overall engine wear. There are also a lot of trucks out there that are simply not being driven. Look around for deals. I really don't like the Lone Mountain or Arrow dealers that much either. I'd rather work with a small dealer if I can determine the worth of the vehicle appropriately. -
Oh! I forgot! I have a Volvo VNL780 and I like it a lot, but DON'T get the Volvo motor. You'll be sorry. Instead, find one with a Cummins ISX motor. They are fewer, but universally regarded as the better deal, even if you have to pay a few thousand bucks more. Get a dyno done before sealing the deal. Also, look up the VIN and see if its still under warranty. Most trucks over 500,000 miles don't, but check out the engine history at the dealer anyway.
I don't know where you are going to operate, but for cross-continental team drivers, the biggest paycheck will normally be a Salinas, CA to NYC or Boston refrigerated run. So, that means you'll want CARB compliant equipment--both the tractor and trailer.... -
I have said it before. Drivers are like elephants. They never forget anything with the additional disadvantage that they can't un-learn anything.
The D12 is one of the most dependable motors on the road today. Plenty of 1.5 million mile trucks with that engine. EGR and Injector issues addressed in '04-05. Won't go into detail but regardless with any EGR engine you don't want to be pulling out of the speed range it is greared for in heat. For a USX truck it is spec'd at 62 mph. Heat is the killer of EGRs. They don't call the middle of summer EGR season for nothing.
And Crazy is correct, make sure that you find a good dealer. If one tells you that Volvo parts are expensive, don't walk, RUN. They are just marking them way up. Volvo got the prices in line years ago.
As far as USX truck. I'm not a fan. Combine how they have the auto programmed and so many new drivers. I was once of the mind that you can't abuse a transmission with an automatic. I have since changed my mind since we purchased one. I realized that so many drivers drive them like personal car. If you get one then plan on new clutch soon and on regular basis.
And avoid paying for Arrow warranty. Premium 2000 is only one that mechanics and service writers tell me pays claims. And they all will insure your tranny and none will pay-off on tranny or rears claiming driver abuse (on the USX truck) because they know the issues and can win that one.
Best of luckLast edited: Oct 17, 2011
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NYC, Boston the land of cheap freight Places I dont go. Living in New Bern you have a lot of seasonal freight out that way that pays really good coming and going. I have dead headed from home out that way a few times to grab $4+ freight Mt Olive, Ivanhoe, Turkey there is a lot of farms out your way and a lot of guys I have talked to out there during the season are home every night get to know the guys at the farms and dont forget the government loads going out thereBigBadBill Thanks this.
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