Behind the wheel... NOW WHAT?

Discussion in 'Ask An Owner Operator' started by Freightshaker71, Feb 23, 2012.

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  1. Feb 23, 2012 #1
    Freightshaker71

    Freightshaker71 Bobtail Member

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    Just bought a 99 Freightliner Classic at a very fair price....Really solid truck!!!
    Now what do I do.... I've had my CDL for almost seven yrs and I drove as a company driver for the entirety of my trucking career....So now I'm sitting on the edge of my seat hoping this all works out ! I have a friend who has his own Company and has his Authority and wants to lease me on... But I don't want anyone in control of me or my rig...I have considered just getting my own authority instead.... Not sure what to do ....I do know I want to be in buisness for myself and I want to make a go at being a profitable business man.... I have done nothing but hard physical work my entire life so I don't mind getting dirty... I'm just not well informed about the differences in having my own authority and just being an O/O leased on to someone Else's Company. And furthermore what would be the best choice for me at this point... He is offering 85% of the load and I pay for my Tags ,Fuel ,Insurance, and offers 50% of the load pay up front if needed to pay for fuel. It doesn't sound all that bad and he even said he had a dedicated run for me if I want it but I'm not sure I want to see the same highway twice for a while....I get bored seeing the same thing over and over....I'd rather travel around and see where the road leads me...!!! But I have no clue where to begin this adventure and there isn't really a one stop shop for all the things I need to learn in such a short period of time... Is there anyone out there who cld point me in the right direction and help a New Trucker out????
     
    Freightshaker71, Feb 23, 2012
    Freightshaker71, Feb 23, 2012
    #1
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  3. Feb 23, 2012 #2
    Logan76

    Logan76 Crusty In Training

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    I don't know anything, but I think that it takes a while to get your own authority and all of your ducks in a row. Why not lease on to your friend for a year if the money is there to get your feet wet while you learn some things and get your own authority, that way your trucks not just a lawn ornament and you have cash coming in?
     
    Logan76, Feb 23, 2012
    Logan76, Feb 23, 2012
    #2
  4. Feb 23, 2012 #3
    ac120

    ac120 Road Train Member

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    ac120, Feb 23, 2012
    ac120, Feb 23, 2012
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  5. Feb 23, 2012 #4
    Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    First there are docked threads on here that can explain your answers in detail, second your authority takes about 21 days and you have to have your insurance in place before it is effective, do you have a trailer? Are you looking at power only? Lease with your friend stack some cash while you make a decision BUT tell your friend if you are paying all your fuel, taxes, plates, and bobtail plus cargo insurance you want 90% or 92%, if he is paying cargo then i might consider the 85% to give you a general idea if you want to obtain your own authority you are going to need a min of $10,000 to get started you have a lot of things to think about and it will take some time to start generating revenue. Read the docked post and good luck
     
    Clasix1055, Feb 23, 2012
    Clasix1055, Feb 23, 2012
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  7. Feb 23, 2012 #5
    thelushlarry

    thelushlarry Road Train Member

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    Sounds good to me. I know of no other place you gonna get 85%. He takes care of finding the loads and billing. The deal sounds almost too good.
     
    thelushlarry, Feb 23, 2012
    thelushlarry, Feb 23, 2012
    #5
  8. Feb 23, 2012 #6
    BigBadBill

    BigBadBill Bullishly Optimistic

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    Based on what you are say I would lease to a small carrier first and learn a little more about being independent. It is not easy being on your own but very doable. But starting with no knowledge stacks the deck against you. 85% is fair and you would likely net better this way than starting on your own.

    Then while running under his authority start building a real business plan and learn all you can.
     
    BigBadBill, Feb 23, 2012
    BigBadBill, Feb 23, 2012
    #6
    pattyj, jjranch and LSAgentOZR Thank this.
  9. Feb 23, 2012 #7
    pattyj

    pattyj Road Train Member

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    Excellent advice Bill.I'm going on 10 yrs out here,all OTR and never have I leased.It's too much of a gamble.Some are successful at it but you really have to do your homework.I have yet to talk to a crengland driver that's been successful.Are there even any company drivers there?Is it like mandatory to lease with CRE?What is it they say that pursuade drivers into leasing?I think most drivers don't ask enough questions
     
    pattyj, Feb 23, 2012
    pattyj, Feb 23, 2012
    #7
  10. Feb 23, 2012 #8
    TheRoadWarrior

    TheRoadWarrior rocking-n-rollin again

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    They seem to come from the Car Salesman School Patti...lol
     
    TheRoadWarrior, Feb 23, 2012
    TheRoadWarrior, Feb 23, 2012
    #8
  11. Feb 23, 2012 #9
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    All these posts are right on. You have 7 yrs wheel time and a truck in your driveway. Lease on to your friend, get some $$$ coming in, then re-evaluate in 6-8 months. I'd say don't tell friend you might bail in half a year.
     
    Allow Me., Feb 23, 2012
    Allow Me., Feb 23, 2012
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    BigBadBill Thanks this.
  12. Feb 23, 2012 #10
    bbblotliz

    bbblotliz Light Load Member

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    Our company pays that and better... just sayin'.
     
    bbblotliz, Feb 23, 2012
    bbblotliz, Feb 23, 2012
    #10
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