Thanks! This is response is very helpful, as I think I may have gotten myself into a situation. As you stated, this run will not last too far into the future so I should probably just stick it out. This company has no short hauls in my area and moving to where their short hauls are is NOT an option for me, LOL!
As far as purchasing a truck. I guess I'm struggling most with should I purchase new or used. I like gliders and I like 60 Series engines...
I can get a new truck for $165K, it will have a warranty and a lot of the maintenance I performed this year on my old truck will not even be an issue. I will have to finance about 75% of a new truck.
I can get a used truck for $60K to $85K but if this truck is anything like the last one I suspect I will dump another $40K into it so now I'm really at $100K for a half million mile truck. I would have to finance 50% of the purchase then I would just nickle and dime the repair bill as I move along and make money.
If I purchase a trailer I will not have the money to also purchase another truck. But I have no intention of leaving the oilfield anytime soon.
Crude Oil Owner Operator- Profit & Loss Statement (Full Disclosure)
Discussion in 'Oilfield Trucking Forum' started by Rockdoctor, Nov 1, 2018.
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One thing to remember. You have a profitable operation. Time is on your side. Use it to your advantage, make good choices. Youve done well so far.
The cheapest option to full profitabilty is to find your way back to slip seat operation. Thats if you and your wife want that.
The trailer is probably a smart move.
The truck depends on how you think the current truck is going to hold up next year or two. If it will hold together, you can recoup some of that money youve spent. If the high maintenance costs continue, thats another story. A new emissions truck can be expensive to maintain as well. -
There was another guy who commented he thought the oilfield and crude hauling payed more. There are O/O doing better and worse than me and there are company drivers doing better and worse than me.
I would tell anyone if you want to become an O/O and haul crude, you could go right now and do better than me as a company driver at the right company. I know guys who have made over $130K for the year as company drivers. I also know a POS outfit paying their crude haulers $300 per day. That's about $75K per year.
Definitely more headache being an O/O and more stress too. About the only thing I've got going for me as an O/O is I get to say when I work and where I will and will not go. But, that has it limits too as I suspect if I said no too many times I would find myself on the #### list with some dispatcher and see a real hit to my revenue.
SO WHY AM I DOING THIS O/O THING?!??? Guess I just like to suffer... -
Na, youre on the right track. Gotta crawl first, then walk, then... well lets just walk a while
Ive heard that all learning curves tend to take at least one turn through your hip pocket. -
Problem with trailers are most new trailers builds are out until like May. Anybody that do lease trailers right now is charging 2800-3200 for lease trailers. I hear companies doing the long haul runs and bringing red dye back to the field. I held off on moving out there because of some of the prices for equipment
CaboverKid Thanks this. -
Then the lease trailers are not that great for them type of prices. I will probably buy a few trailers and go thru the axles to get it right.
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My first recommendation would be to buy your own trailer (and not because I have one for sale in the classified section of this group). I bought my own in 2012 and never regretted it. It opened many doors for me back when trailers were in short supply. I had previously pulled a piece of junk of the company's that was only one spill away from me losing my job. Take care of a trailer and be smart on repairs and maintenance and they do not cost near what you pay in the long run to lease one. Then at the end of your career or whenever, you own it. There are good trailers out there but probably not older company-owned ones that have been abused by every driver under the sun that was only interested in getting more loads in the pipe.
Orange713 Thanks this. -
It looks like you'll be working for a month out of the year just to pay the trailer lease fee.
Between that and the fact that your fuel bill has gone up and you're not receiving the fuel surcharge, I think I might start looking at other carriers.Orange713 Thanks this. -
RockinChair Thanks this.
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Orange713 Thanks this.
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