Concerns, Questions For Information

Okay, so I have been out here awhile. I already found my self just hanging out at the house for a month. I'm tired of the same companies du dah, qual come crap, bad drivers, you name it! Yet, I sit here and everytime i come across a video I feel the need to get in a truck and drive all night long? Yes, its in the blood now. :'(

I got a lot of questions and some of them may even be a concern relating to something else.

First off, I can buy a brand new 389 Pete. Probably in the 175k No extended engine warranty @500k "Standard is 200k? "Now it would be another 10K added for the extended warranty, would it be worth it? A lot could go wrong in another 300k miles. I think its worth it personally, so may bump the truck price up. Payments are monthly around 24k a year or 2500 a month.

Now what other fees do I need to pay? Is this right?
I need some average numbers as well if you can help out. I am trying to set a full monthly budget here as to my P&L

IFTA
Insurance (Calling Places for Quotes)
EIN
DOT Number
Highway Use Tax

Some other questions I have are...

Should I go completely under my own authority?
Should I stick my neck out for a trailer also?
Should I get this truck and look for someone that has trailers or run under someone else that has other owner operators?
Whats the deal?
What is best?

Could use some recommendations. This is entirely new to me. My uncle did it with no problem, having paid off two used trucks, but only making a 1.03 or something silly with a ranging fuel surcharge which recently was .17, a total of like 1.27 per mile usually. He recently sold his truck and wants nothing more to do with driving really, or that company for that matter. I also am not trying to stay out for weeks at a time due to the ELD mandate, unless their is a nice 2200mile run. Other wise, my goal is to at least be by the house for a 34hour reset, then head right back out.

Some insight would be extremely grateful here.

Thanks!

 

I am new at this. I am 110% certain I would rather buy a truck from a dealer/Finance than go under any lease through some larger carrier for a basic low down truck that will be 140-160k then be charged twice as much for payments. That's a no brainer for me to sway away from.

Financing a truck and leasing it onto a company is what my main idea and set out goal is I suppose since I know nothing about broker panels and all that. My main concern with this though is, what companies are going to pay the most? Will I be stuck at some low ball 1.03 a mile with a varying fuel surcharge? Avoiding larger carries would still be a must no?

 

10% Down payment, my excellent credit score and the average from the guy at the dealer as far as average price people are paying for the exact same truck with similar spec's and Interest Rate. 72month period.

 

Haven't looked much into companies that lease trucks on. A friend of mine told me to check out road runner. They do a lot of produce here in North Carolina supposedly, but unfortunately for her when with them, she had an issue where she would have to empty move up here about before she could get a load out of FL. She also told me to check out another place located just outside Chicago, IL. Waiting to hear back from them for more information. Thanks for the info as to what your approx cost are. No ELD for you? I hear ya driver. Can't say I like it that much either. Hoping for more change when its fully in effect. Higher rates, changes within the 10hours break rule. Changes with shippers/receivers taking long to load/unload that do not allow parking on site. Like I said though I live in NC for the moment closer to Greensboro/Martinsville,VA Speedway. Probably making a move up to Hazleton, PA off I81 here not before long though "Temporarily."

 

Well, it sounds like you are doing the same thing like I do towards my 5.0 15GT Mustang. How ever I financed through Ford and had trouble at first due to my credit. I had no prior established credit history before, so I had a rough time. Once I got my credit built up, which I was approved with a 666 credit score hehe, I put 14k down cash money towards the 45k or so car. Fully loaded. My first owned car as well. Probably not the best choice being my first car, but I do drive a truck. I have a sense of responsibility with the thing. Though, it literally is a go cart with a v8 after I get out of the truck from a long week. haha!

You got a Volvo.... Ehhh! I can't say much, but I have heard some bad about volvo. Not trying to dis your truck at all. Would definitely buy that over a international for sure though. hah! Freight liner as well unless it was an old FLD or something along them lines. Always been a Kenworth fan since a kid though. Loved the looks and the inside of my step fathers T2000 he brought home new one day. Ever since I started driving though I have fallen for the long nose petes. Not sure why.

To my point about that though. Someone showed me a comparison in review when it comes to the depreciation value on trucks, hence I am more inclined to stick with a peterbilt. I might be getting a mile to the gallon less or so, how ever I like them for their style, appearance an things of that nature.

I always pay higher on my loan for my car. It reduces the amount of the next months payment. It also lowers the overall principle of the remaining balance over time even if its by 10-100 dollars. 6.5% on my car. Sort of high, but regarding me just establishing credit when I got it that is the reason why, even with such a high down payment.

I'm in it to make enough money just to make sure everything is paid for along the lines of the truck and bills at home with some living expense while out on the road. Everything that comes extra just goes towards my truck, Maintenance account/savings really. My truck for about 7,500 extra will have everything it needs. Will basically be a show truck that is put to use really. My uncle actually offered to team with me if I got my own rig. He just doesn't want the responsibility anymore to own his own. Would rather work with me than deal with these other companies out here ya know. I always have that option though.

What bank did you use, if ya don't mind me asking? I got Fargo, but will obviously set up an entire separate account for the truck. Including another spare Credit Card just for the Truck. Another thing I have handy is having my cousin whose an Accountant to book keep everything for me. So when tax time comes all I need to do is file.