Hey y'all, as some of y'all know I just graduated uti for diesel tech. Looks like these companies don't want new techs so I'm looking to go back otr. My question is, how much should I budget on a weekly basis for expenses? Like insurance, accountant, plates, taxes, etc. I already figured 1400-1600 a week for fuel running 3500 miles. And 1500 a week for repairs and servicing. I want to have enough in an account for 1 month so I have a cushion.
Weekly budget question
Discussion in 'Ask An Owner Operator' started by philv, Dec 28, 2016.
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Are u looking at o/o, or running under your own authority?
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It is the best and most profitable way 2 go. Do you have a trailer yet? Any contacts 4 direct customers and shippers? Also things 2 keep in mind. New authority your insurance on a single truck and trailer will probably be in the $1200-2000 per month range. Also a lot of brokers and shippers won't contract with you until you have minimum of 90 days active, and that is a select few. A lot of others want 6 mths to a year. Also with have more start up cost. IRP, UCR, BOC, and IFTA.
philv Thanks this. -
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Ya probably good choice. Lease on. Save up some cash if don't have it yet. Good number is have at minimum 10k cash set aside after all the startup cost you dish out, also make sure you are signed with a drug testing consortium and pay your 2290tax also. Insurance will be $1500-$1800 as long as you have a clean record starting up. Truck and trailer payment will vary of course. And fuel same but you can get those figures better than myself pretty easily yourself. Ifta taxes aren't so bad.
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I would think fuel should be around 1000 a week. General maintenance for a tractor and no trailer around 250 a week. My plates and ins run 250/wk yours might be higher though. Your wages another 1000/wk. Plus your truck payment. Those are my rough numbers for you.
philv Thanks this. -
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Do you think 10k would be enough for start up costs?
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