Total cost to get own authority?

www.OOIDA.com is a business website for the owner-operator and small fleet owner.

 

Buddy if saved up 23k in 10 months I think you can succeed in whatever you do in life good job man

 

If you are able to save $2,300 a month why not just keep doing what you are doing? Invest that money into mutual funds or something.

 

To the OP.

I've had my own authority for over a year now. Here is a list of all the down payments I had to make to get started with everything.
This is with 10 years experience going in and with a clean record.

Truck down payment- $4500 (2012 freightliner)
Trailer down payment- $1000 (dry van)
Omnitracs down payment- $850
Authority- $300
Plate Purchase- VA $1500
Insurance ( 1 mil, 100,000 cargo) down payment- $2600
NY Hut, KYU, BOC3, UCR- Approx $550 for all
2290- $550

Approx cost- $11,850

That number is close. I can't remember the exact $$ amount but I got it pretty close to what I payed down for everything to get started.

 

paper logs and sole proprieter is around 6k if you already have truck and trailer and a fresh CSA. I did it but never used it; my backup. That's most of what is in other posts with a Progressive 1mil policy.

I doubt there is a cheaper strategy for someone who already has the truck and trailer. LLC and S-Corp doesn't protect personal capital and assets either that's why I went cheap.

 

How many trucks we talking about here.? 1 truck?

 

Yea your insurance on a new authority is going to be ridiculous with that driving record. I'm 41, perfectly clean MVR, CDL holder for almost 6yrs, 700 credit score, and my insurance for my new authority 6months ago was almost $23,000 with 20% down.

 

In 2019 with 1mil general 100k cargo truck at 65k and non owned trailer at 40k with an unlimited milage I was 23k for the year, no tickets in the 3 years up to that, all I needed was the first month down with my credit too

this year it’s down to 17k and change