Questions about starting out with a used tractor

That's the myth anyway. Those jobs are few and far between. Plenty of local jobs; they just don't pay a living wage in most cases.

 

I bought a truck in September and leased on to a company I've known since I was little. We pull tankers, but I can at least give a little perspective as someone who has started what, sounds like, is similar to what you want to do.

1. I went the private route. I actually was fortunate to purchase from a fellow that already pulls for the same company that just wanted a newr truck. I have relatives as well as friends that work for the same company that had nothing but god things to say about the man and the truck. I realize I kind f fell into that, but I would still strongly consider private.

2. Leasing to start off has worked out pretty well in my case. It just lets the company take care of a few different things like ifta, drug tests, and different permits. I realize that's not a big headache, but it is one less thing t worry about right off the bat. With that said I am strongly considering running my own plates next year to have the ability to work for another company if things get slow.

second 1. With whom I'm leased to it probably would not be realistic, but I pull tanks and I do not choose my own loads. There have been some weeks I've been home every night, and I've also been out over a month.

2. I currently pay $250/month for bobtail and $1million liability.

3. I don't know.

4. I waited until I had the cash to purchase the truck. I'm fortunate that I have not had any major repairs yet, but I purchased the truck with the financial reserves to rebuild the engine if it laid down on me the first day. My truck was a little higher than your number, but it still had 700k on it without being overhauled. So far I have made pretty decent money with it with minimal down time.

I hope some of this helps even though our sectors of the trucking world may be somewhat different.

 

Buying a used rig is a reasonable business plan. Finding a steady gig where you can drive 600 miles out and back several times a week is a bit harder. Be prepared to follow the freight, because the freight's not going to follow you. Sort of like fishing.

 

What about foodservice?
Gordon Foodservice
Sygma Network
Reinhart Foodservice
McLane Foodservice
Blue Line Foodservice
Sysco

 

Don't want to be rude, but your looking for a unicorn. Yes a 35k truck is fine. There are companies offering what you want as well. I don't know what they pay or what you consider good pay. Yes, you will have the ability to run out and back as your own shop. How ever ability doesn't mean it's the smart move. You can really limit your pay that way. Do you have any customers? If the answer is no, how do you plan on finding freight? Load board? Just know there are 10's of thousands other guys with that same crappy business plan. Most are willing to cut your throat just so they can go out and back, and call themselves owner operators. The hardest part to being an o/o is taking emotions out of business decisions.

 

I enjoy having cheap truck bills that way I do not have to run my ### off. I own my semi. It was 4800 bucks a year to add myself and my semi to my brothers insurance. Threw on some MC numbers and off we went.
Also remember plates. Ours are 1500 here in ohio.

 

I went the used route, bought an 03 Columbia with 680k miles and a 48' flatbed for 26k last year. Had no idea what I was doing, got my own authority and started driving. I pay $750 a month for insurance and $150 for parking. Other than that, I have no truck expenses if I'm not moving. I stay mostly local but I'll do a long trip every month or two. Last year I put 55k miles on the truck and grossed 135k so I'm not doing too bad.

That being said, I've also been a mechanic all my life and do most of my own maintenance. The truck did need a bit of work but I probably saved around 20k last year by doing most of it myself. Not having truck payment has been a lifesaver. Freight is low? Screw it, I'll stay home today instead of driving for #### rates. Truck needs work? I'll take a few days off and do it myself. I know a guy who has $2500 worth of truck and trailer payments per month. He needs to drive at least 4 days a week to make a decent profit. Lately I've been lazy and only doing 2-3 days a week but I can because I don't have a ####load of payments.

 

I was there for a couple of years company. Most of the o/o I talked to when I was there were pretty happy but their trucks were paid for. Rates are little low I wouldn't want to go into it with them with a big payment. you're gonna run a LOT of northeast.

They have an l/p that a very high percentage actually complete. $1000 down, truck payment is around 450/week depending on the truck, then the nickle and dime stuff that goes along with it. $1 buyout after 3 years.

 

I also went the used truck route. Bought a '99 W900 financed through my local bank which I have a very good relationship with. That's very important. I also do almost all my own wrenching. A cheap truck and good mechanical ability will to a long ways in trucking. If you get in over your head with payments, one major breakdown can kill your business.