Bare minimum amount of capital needed to get your own authority?

75k is probably about right.

EDIT: This is obviously meant to be the min startup capital for a one man show trucking company. I'd want way more if I had bad credit because I'd want to finance as little of my truck as possible. The correct cost of capital right now is way less than what subprime truck loans are charging.

 

OOIDA membership is $45 annually. TCRG Consulting, tcrgconsulting.com. | TCRG's Richard Wilson will handle an operator's authority filings for $150 on top of the application fee ($300) and costs associated with BOC-3 process agents (about $100).

 

best answer you are gonna get.

 

enough for a good bankruptcy lawyer

 

I figured at least 10k after driveing off the lot if your going to lease to someone. 25 to 30k after start up cost if you are getting an authority.

 

On an own authority start up, have your truck paid for...expenses are really high in the first year. on start up, if you have about 25k in the bank you should be ok. More is always better.

 

To further your statement, there are fees associated with incorporation papers, insurance requirements, IRP plates (for carriers), workers compensation. Brokers must post a surety bond using form BMC-84 which can cost on average $2000/year. Surety bond rates are based on credit scores.

 

Anyone that pays someone $150 to answer a questionnaire/upload some forms with the DOT and pays SIX TIMES the cost of a $25 BOC3 is a fool to follow such bad advice. In fact, sign up with OOIDA and they'll be your BOC3 for FREE.

 

Agree