No Gungho O/O?

Only for a niche market with a true o/o. Meaning he owns his truck trailer and operating authority. Otherwise you just get broker freight and leftovers from the company your leased to. Greatest revenue makers of today are usually over dimensional, government contractors, and special commodoties haulers such as hazmat (explosives and nuclear transporters). Most lease operators wash out and go broke after a while so be wary and at the very least take some classes on running your own business BEFORE attempting this.

 

I don't view those of us that respond as being negative. Personally, I try to be factual and let whom ever is trying to decide get as much information, both good and bad so they can make a logical informed decision. That's what this site is about. If he was making so much money then why is he an instructor now? Did you ask him that?

 

Yes this is true. Many put aside about .08 cpm and will have about 10 grand in this account. This wont pay for a new engine but will be enough to handle most other "problems" you might encounter. As for making lots of money sure the truck may make close to 200 grand in a year in the hands of a savvy operator who really hustles but half of that will go towards "expenses."
Some Union drivers will make close to a hundred grand WITH benefits and not have any of the hassles of actually owning a truck. An an o/o you will have little to no "free time." You will spend most of your time attempting to repair your truck yourself to save money.

 

Sure we buy or lease them from dealers and some people prefer to lease for their own reasons. Some even lease them from companies where the truck will be leased, which I don't advocate at all. There are companies out there that do nothing but lease trucks and trailers to companies and some individuals, but just like buying/ leasing a car, the trucks warranty works pretty much the same., except a truck will run out of the bumper to bumper 100,000 mile warranty in a year or less.Then they have the remaining 300,000-500,000 warranty to cover main compotes, like the engine etc, rear ends and transmission, but it doesn't cover everything and there are limitations to it just like any other warranty. There are exceptions to ALL warranties and extended warranties are available, you pay for them, but you have to be very careful about those as well. Just like a lease car you have to pay for servicing it, tires and all the other expenses that go along with it. Each lease is different, so be sure to READ it and don't sign it unless you understand every word.

No read above

There is NO way to tell you that as I don't know your financial obligations. $10,000 is NOT unrealistic and would barely cover 2 months depending on expenses. Just add up EVERY thing that has to be paid and multiply by the number of months and don't forget to take into consideration the rising cost of fuel, oil etc.
Planing is the key to success in this industry and getting every bit of information will help anyone make a good decision based on realistic real life cases.
Dress neatly and have all your information and paper work organized and put together as a presentation before you approach ANY lending institute other wise you risk looking very UN professional. Don't make up or exagerate figures and facts as in some cases you can go to jail for providing misleading information in order to get the funding that you need.
After all whether it's one truck or 100 it's a business and you have to convince them to be your partner. You have to sell them on taking that risk with you.