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Thinking of becoming an owner/operator

Discussion in 'Ask An Owner Operator' started by beerwolfhlc, Jan 1, 2014.

  1. Jan 1, 2014 #1
    beerwolfhlc

    beerwolfhlc Bobtail Member

    27
    2
    Aug 1, 2013
    0
    Back in the early 80's I had a bad experience in a lease purchase program sponsored by North American Van Lines. It was the worst investment of my life,and soured me on becoming an owner/operator for a very long time, until recent events have made me reconsider, but NO MORE LEASE/PURCHASE. So enough of why I am hesitant to pull the trigger-what I would like to know HONESTLY is-signing your truck onto a company are you "locked" in for any amount of time like a contract or can you leave when/if you choose? And can you really survive all the overhead of the truck AND still have "quality" home time(ie-at least a COUPLE of days off)because I know "if the wheels aint turning,you aint earning"! I know I am capable of running the miles but I would like to hear REALITY from O/O's who are on the forum. I myself dont consider myself a "hardcore" trucker-I would really prefer to be home every two weeks or so as when I first got going I averaged 6 weeks out at a time and I refuse to go back to that. I look at that like "whats the use of making all this money IF I'm NOT home to enjoy it??"! THANKS beforehand to any and responses I get on this topic and HAPPY NEW YEAR to all!!
     
    beerwolfhlc, Jan 1, 2014
    beerwolfhlc, Jan 1, 2014
    #1
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  3. Jan 1, 2014 #2
    spyder7723

    spyder7723 Road Train Member

    15,471
    25,077
    Mar 31, 2013
    sarasota, fl
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    First off, lose the miles mentality. It's not about turning high miles, it's about turning high profit.
    Second, I've never seen a contract that didn't let you walk away from it.
    Third, it's either mileage pay or percentage, and I have yet to hear of a mileage based pay that will let you earn more than a company driver.
     
    spyder7723, Jan 1, 2014
    spyder7723, Jan 1, 2014
    #2
    Criminey Jade and SheepDog Thank this.
  4. Jan 1, 2014 #3
    russtrucker

    russtrucker Road Train Member

    1,767
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    Mar 27, 2012
    Central PA
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    Dad want to give his T600 for reefer/van use to me while he will find himself T800 for frac sand hauling.
     
    russtrucker, Jan 1, 2014
    russtrucker, Jan 1, 2014
    #3
  5. Jan 1, 2014 #4
    russtrucker

    russtrucker Road Train Member

    1,767
    337
    Mar 27, 2012
    Central PA
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    Probably go to Hirschbach or Brite.
     
    russtrucker, Jan 1, 2014
    russtrucker, Jan 1, 2014
    #4
  7. Jan 1, 2014 #5
    jfar28139

    jfar28139 Light Load Member

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    May 28, 2012
    Rutherfordton, NC
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    Our contract asks for 30 days notice for you to leave. Termination of the contract should be a point of negotiation when you sign on.
     
    jfar28139, Jan 1, 2014
    jfar28139, Jan 1, 2014
    #5
  8. Jan 1, 2014 #6
    RiskyBusiness

    RiskyBusiness Light Load Member

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    Dec 28, 2013
    Tyner, NC 27980
    0
    I agree with spyder. I have been an O/O for awhile and you can pull them placards off as easily as they went on. Read the fine print on your lease agreement under the termination of contract clause. Lease purchases really don't benefit anyone other than the owner of the truck. You will pay double for the truck under most LP deals with these large companies leasing their old equipment. The only way its beneficial to you is if your willing to stick with it and complete the lease to own the truck. I have a few O/O freinds that have gotten their trucks thru Lone Mountain Truck Leasing and its not like your standard LP program. You lease from them you take the truck to whatever company you want, you pay your payments on a monthly note, if you get tired of the company your with you just move it to another one same as someone who owns their truck would. I added the link to their current inventory details about the lease you'll have to talk to them for more info.

    Lone Mountain Truck Leasing; http://www.lonemountaintruck.com/inventory/
     
    RiskyBusiness, Jan 1, 2014
    RiskyBusiness, Jan 1, 2014
    #6
  9. Jan 1, 2014 #7
    caftransport

    caftransport Light Load Member

    68
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    Mar 18, 2013
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    Are you buying the truck outright with Lone Mountain or is it just a lease.
     
    caftransport, Jan 1, 2014
    caftransport, Jan 1, 2014
    #7
  10. Jan 2, 2014 #8
    luvtotruck

    luvtotruck Road Train Member

    1,978
    1,161
    Jul 30, 2013
    Phoenix Arizona
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    You are buying it, You are not returning the truck, Once payments are paid then the truck is yours, They have things set up to where when you get the truck paid off you should have a little more miles left in it before you hit the 1M Mile mark on the clock. I hope this helps.
     
    luvtotruck, Jan 2, 2014
    luvtotruck, Jan 2, 2014
    #8
  11. Jan 2, 2014 #9
    russtrucker

    russtrucker Road Train Member

    1,767
    337
    Mar 27, 2012
    Central PA
    0
    I would rather pay it now than monthly. Who knows how things go in companies. Something happens, run out of money, and ur truck taken.
     
    russtrucker, Jan 2, 2014
    russtrucker, Jan 2, 2014
    #9
  12. Jan 10, 2014 #10
    beerwolfhlc

    beerwolfhlc Bobtail Member

    27
    2
    Aug 1, 2013
    0
    Thanks for your input!!
     
    beerwolfhlc, Jan 10, 2014
    beerwolfhlc, Jan 10, 2014
    #10
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