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money question

Discussion in 'Ask An Owner Operator' started by jlb90, Aug 5, 2017.

Page 1 of 3
  1. Aug 5, 2017 #1
    jlb90

    jlb90 Bobtail Member

    2
    1
    Aug 5, 2017
    0
    Hi everyone, I'm thinking about getting into the business, I know lot of truckers and a lot of them claim to be making a ton of money, but I'm pretty sure they are just very bad at math. My question is as an owner operator what are your typical expenses, including everything like repairs, payment, truck depreciation, trailer lease, insurance... also what is average yearly revenue, or per mile pay for o/o. Also do you think its a big difference is pay for o/o and company driver?
    Thank you
     
    jlb90, Aug 5, 2017
    jlb90, Aug 5, 2017
    #1
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  3. Aug 5, 2017 #2
    Ridgeline

    Ridgeline Road Train Member

    22,723
    123,014
    Dec 18, 2011
    Michigan
    0
    Most of what you hear is BS.

    This is a business, it costs money to make money and for some reason people don't get that if you want to start in this business, then they need to become a driver first and get on the road.
     
    Ridgeline, Aug 5, 2017
    Ridgeline, Aug 5, 2017
    #2
    BoyWander and Puppage Thank this.
  4. Aug 5, 2017 #3
    javelinjeff

    javelinjeff Medium Load Member

    621
    185
    Aug 30, 2007
    victorville,ca
    0
    I'll give you some estimates,,expect a 1500 truck payment,750 insurance payment,700 trailer payment,300 monthly service,250 month tires truck/trailer,250 month fuel taxes,200 registration fees,,these are based on a $65,000 truck financed,carrier provided liability ins plus physical damage paid by you on financed truck,rental or purchased trailer,monthly service at truck shops,tires at 2800 annual expense,IFTA,plates and permits,,,these numbers DO NOT INCLUDE BREAKDOWNS OR ROAD SERVICES! These numbers can and will vary,,plan on $4,000 a month just to give you an idea. annual earnings can be estimated to be around 180k before fuel and expenses listed above,,after the dust settles on these numbers,expect to pay taxes on about 45-60k depending on your accounting
     
    javelinjeff, Aug 5, 2017
    javelinjeff, Aug 5, 2017
    #3
  5. Aug 5, 2017 #4
    JL of Indiana

    JL of Indiana Light Load Member

    136
    142
    Jul 14, 2017
    0
    There is no money in trucking. Move along...
     
    JL of Indiana, Aug 5, 2017
    JL of Indiana, Aug 5, 2017
    #4
    Western flyer and BoyWander Thank this.
  7. Aug 5, 2017 #5
    cjb logistics

    cjb logistics Heavy Load Member

    766
    643
    Aug 13, 2016
    Liberal Ks
    0
    I agree, but if he still wants a shot I will sell him my truck and contacts.
     
    cjb logistics, Aug 5, 2017
    cjb logistics, Aug 5, 2017
    #5
    JL of Indiana Thanks this.
  8. Aug 5, 2017 #6
    jlb90

    jlb90 Bobtail Member

    2
    1
    Aug 5, 2017
    0
    I figured that's what it was, people get a very big paycheck and think they are making a lot of money but don't account for all the expenses and don't even know how much money they have. So the biggest expense would be maintenance/ repairs I assume, if truck is paid off, so what has been your experience in terms of maintenance/ repairs costs in last couple of years?
     
    jlb90, Aug 5, 2017
    jlb90, Aug 5, 2017
    #6
    BoyWander Thanks this.
  9. Aug 5, 2017 #7
    fargonaz

    fargonaz Road Train Member

    1,167
    4,583
    Feb 9, 2015
    Mesa, AZ
    0
    Umm... Fuel?
     
    fargonaz, Aug 5, 2017
    fargonaz, Aug 5, 2017
    #7
  10. Aug 5, 2017 #8
    DUNE-T

    DUNE-T Road Train Member

    7,039
    17,145
    May 10, 2015
    Detroit, MI
    0
    As an O/o with own authority you can make 100-150k, or you can go completely broke. There are too many variations
     
    DUNE-T, Aug 5, 2017
    DUNE-T, Aug 5, 2017
    #8
    Coltgrimes36 Thanks this.
  11. Aug 5, 2017 #9
    Jeck

    Jeck Light Load Member

    167
    105
    Feb 22, 2017
    0
    I believe there is good money. I been O/O for 2 months. Went in on the 31st for a oil change for $350 and got a $2200 bill. 3 seals leaking and trailer issues. I thought $2200 was a steal! But I have yet paid myself anything.
     
    Jeck, Aug 5, 2017
    Jeck, Aug 5, 2017
    #9
  12. Aug 5, 2017 #10
    fargonaz

    fargonaz Road Train Member

    1,167
    4,583
    Feb 9, 2015
    Mesa, AZ
    0
    So you got the customer to pay for the seals, please, do tell, what is your secret?
     
    fargonaz, Aug 5, 2017
    fargonaz, Aug 5, 2017
    #10
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