Bought my first truck

Well I've gone and pulled the trigger.

I just bought the 'company' truck I've been running since Sept of last year.

Its not much to look at. Its a 2005 Columbia with a 2004 C15 and 10 spd. Had 994400 when I first got in it. Coming out of a 2008 386 13spd, I really didnt like this truck. He k.. I still dont like it.

It has 1044453 mi on it right now. Some minor issues were fixed after I first got in it. Radiator drain plug blew out, the bushing on the clutch rod left me with out a workable clutch, and a little motor that controls the hvac vents quit working. Other then that its been as reliable as an old dog. Averages 5.5 - 5.8 mpg pulling 53ft step deck.

I paid $20k cash for it. He agreed to buy me some new Mich steers to replace these gawd awful Hancooks on here now. I still have $30k left to cover any issues that may or may not come up.

I leased on. I get 85% of load. I pay for the tag, fuel, bobtail insurance and I will be renting his trailer for $125 a week until I eventually buy my own. I get .08 cents fuel discount if I use Pilot or Flying J.

My plan is to continue as I have been with this truck for another year, try to bank some money and either sell this truck or trade it in on something better.

This will be my first go at it. I was hesitant to go all in with my own authority. He gave me a song and dance stating that if I got my own authority that I would not be able to get the same rates that he has. It made sense.. so I opted for this option. I can opt out and do my own thing at any time.

I have so much more to learn now. I was never a business savvy person. My wife is on board and she is far more savvy regarding the business end of things then I could ever hope to be. Hopefully this truck lasts long enough for me to step up.

Thanks in advance.

Hurst

 

Thanks for the replies.

Any input is appreciated.

He's paying cargo, liability etc. I'm only paying bobtail. It all gets finalized 1st week in march.

Its not a new company. I've been running here on a 1099 since Jan of last year. I know the owner and we have a good working relationship. Nothing should change regarding what the truck does. If anything I have more motivation to run more efficient while trying to get in as many runs as I can.

My end goal is to get enough trucks going to where I dont have to be out here anymore.

This is a big step for me. Excited and afraid all at the same time. I'll definitely let you guys know how it goes. By April I should have a better grasp on how things are.

Thanks.

Hurst