Thinking about buying my first truck!

I was a company driver and L/O for Thomas & Sons Distributors out of Coos Bay, OR. I ran the 3 western states. In February I went into another type of business with one of my kids. However, I wouldn't hesitate to get back to work with them as a L/O.

I was in a walk away truck lease. I had no interest in ever owning the truck. The payment was manageable and the owner worked a deal with the lease company for a mileage rate I paid which essentially covered anything that the truck needed, including tires.

If the truck broke down, they were under contract to fix the truck right away or provide a loaner truck within 24 hours...

I was easily clearing 8k a month after expenses and before my own personal income taxes. Not getting rich, but a decent living.

I'm happy to answer any questions anyone might have about Thomas & Sons Distributors, feel free to pm if you'd like.

 

The only truck I'd be interested in is that 2001. The rest are emissions garbage.

 

I have no idea why Flatbed makes this comment. I am an I/C, 2 years lately, and I have load refusal. If I go the O/O route, won't I be selecting my own loads and clients? The reason I went the I/C route is exactly 2 strong reasons. 1. More income. 2. Free choice on load selection. Like a lot of drivers, I really don't like to be told what to do. What I like is doing what I choose to do, choose how I run my loads. And clocks.

 

If you actually read and understood it the post was DIRECTED at wanabee O/O's just starting out who forget you need to GENERATE INCOME at the start so later on you can benefit from being your OWN BOSS.

Main reason so many fail as start up O/O's is they take too much freedom at the start and fall on hard times when they need $ only to realize they did not work hard enough at the start

 

Answer these questions truthfully. ..
What field you going to?
How much more money you ll be making a year after taxes comparing to a driver?
Is it worth to make 10k or 20k more a year as an Owner Operator? I am not talking about gross, Net profit after taxes!
Is it worth to buy an old truck nowadays?
If you spend 5 hours in the shop every 30 days, You could easily be buying a new truck and driving an old truck.
Do the math.. Truck breaksdown on the road( those old trucks do all the time trust me, I ve been there, done that)
Hourly labor $110,00 to 125,00
Parts... It could range from $100,00 to 400.00 sometimes even more..
Downtime ... it varies ... Let's say $60.00 to $80.00
Plus unexpected expenses,like road call.. towing ... yeah baby that's the price you pay for an old truck..
Let's continue...
Hourly labor + parts + downtime + stress ( Your health it's going to get deteriorate )
$117.50 + $250.00 + 70.00 = $437.50 times 4 equals $1750.00 + 1200.00 ( Payments for as n old truck) equals $2950.00 , basically you will be paying for a new truck driving an old truck
How much money do you expect to make as O/0 after taxes?
How much much money would you make as a driver?
" Doing good ", " Making money ", it's all relative, No offense but These o/os should be publishing their net profits more often in detailed instead of I grossed this I grossed that, As they said, not what you gross, but what you net .

 

What is "it" the effort of owning your own truck, your own business? If you have to ask, then no, it isn't worth it. A truck is a machine, not a business. Are you wanting to start a business or buy a machine? What's the goal? Money? Okay, so what are your plans to use a truck to earn money? You do have a plan, dont you? The reason why you speak to owner operators who dont make money is because they bought a truck without a business plan.

Well, they 'thought' that they had a business plan.

What a man!

What are you looking to do for freight, amigo? Scan the load boards and call brokers? For the most part, the guys that do that are the ones that dont make any more money than the average bottom feeder company driver. I didnt say all, but MOST. Some drivers can figure out how to make money making and selling used toilet paper scuptures to tree huggers. Many however, are just in the business long enough to keep freight rates low and then they go bust.

So, how about telling us your business plan to make money? Dont have one? Ask for suggestions, then go to the appropriate forum. Luck in battle.