Considering o/o

Which part?

 

I started with about $85,000 when I got my own authority. I had already bought my first truck and was leased to Landstar for eight months before going on my own. That truck cost me $20,000, so my total investment to go on my own was $105,000. Still at it after five years on my own, with four trucks now. Thinking about adding a couple of more next year. It is far better to do it on your own vs. a lease program. Even though I have a lease program for our guys as well, I always tell them if they can save their money and buy their own tractor they will be better off in the long run. Many of them can't save the extra money that it takes to buy their own tractor, so they will be renting to own mine until it is paid off.

 

You said if when you started 20 years ago if you had $50k in cash or credit you would've been able to retire by now. With cash I can see how that might be possible, but with $50k in credit/debt?

Just trying to wrap my mind around that.

 

Sorry. I edited it to read (cash not credit). Thanks Oscar KW sometimes my proof reading is as good as (text) auto correct.

 

I support that, when I bought my first truck and leased to Landstar I had about the same, after the eight months leased onto them I had saved enough money, paid off my first truck and went on my own. It was very hard to do but it can be done. Kinda unfair for others who don't have previous management or business experience to think they can do the same. The OP most likely does not have either, or he would not be entertaining the thought of a lease op with the big blue weiner.

 

You realize that's true for ALL small business, not just trucking, right?

 

Not that other businesses are relevent on this thread, but 50% of all small businesses in the US make it past the 4th year. 80% of o/o truckers will fail in less than 2 years. (I looked it up).

 

Your trying to talk business, but can't differentiate between brake down, and break down?

Most bigger companies will give you a fuel card and help with maintenance, break downs and even let you in on their discounts and credit accounts if they have any. Most all companies anymore offer weekly settlements and some offer within 24hrs of delivery.

12,000 is not enough to buy a decent truck, but 5,000 down a 30,000 dollar truck will cost you less a month than most new vehicles.

 

Lol. I didn't spot that spelling error. I won't change it. It's not relavent.

A $30,000 truck is likely to cost $15,000 to $30,000 to keep on the road (check out Double Yellow's thread)the first year. That's perfectly okay if you have enough business sense to not haul for cheap.

I am only refering to indepentant o/o's, not lease operators.

 

Relevant. Independent.

I have a buddy who bought an 03 kw with 1.2 million on it around the first of the year for 12,000 at an auction. That truck had stayed on the road for several months needing nothing but diesel and oil.