Dude if every O/O could made 100k after all expenses every yeah, truck driving career would be a freaking golden miracle to everyone, #### spend 2 yeahs driving , BOOM you pretty much got yourself a house. If you company paying you decent I would just stay as company driver
Should I buy a truck!
Discussion in 'Ask An Owner Operator' started by S.V.Buyck, Nov 9, 2019.
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85% will fail in the 1st yearbaha and FlaSwampRat Thank this. -
sherlock510, FlaSwampRat, Midwest Trucker and 1 other person Thank this.
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Op
If your not ready to marry a truck stay out of it..Accidental Trucker, sherlock510, 86scotty and 3 others Thank this. -
It sounds like you have capped out the reward side given a super low risk and should probably stay where you are.FlaSwampRat Thanks this. -
Let me add a little to that.
Trucking is a business and all business runs in cycles. Ups and downs, dips and peaks. Business is all about timing. Blockbuster video for example had something great because of their timing. But the sun has set on that model. Timing can be everything.
Right now we are in a dip based on the past. This may be the bottom or just the start but none of us knows the future. Only that relative to the past, rates are down about 30% from last year. The longer they stay down the more equipment will be up for sale at lower and lower prices. So this may be a great time to buy a good cheap truck. But its a pretty hard time to make money in trucking. Running 150k annual miles at crap rates to match your current company driver pay will just use up your trucks life faster. Buy a great truck in the coming year and go thru it at your liesure.. Then when the rates rise.. Whenever they do.. Thatd be a better time to enter. When the rate is higher so that you make good money on less fuel and mileage and the truck lives longer. Also as an employee you have few tax deductions. Building a truck on 1040 schedule C can help lower your tax burden and get you some generous refunds.
My 2cents.Midnightrider909, FlaSwampRat and Coffey Thank this. -
i Don’t see why not.
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Last year I worked 260ish days and made about 72k as a company driver. This year as my first year as an O/O I'm on track to make about 45 to 52k. I'm way below what my expectations were plus the logging industry that I work in is slowing way down so I'll be looking for some new commodity to haul soon. I was able to pay cash for my truck and live on quite a bit less than what I made so I'm not to concerned about work being slow this winter.
They say money is the #1 reason of divorce, well it's also the #1 reason of a business failing. If you are able to manage your money to always have that emergency fund available and have your income fluctuate quite a bit than go for it. The freedom to be your own boss is worth it.
Many people are used to that steady pay check every week. Being an O/O is for the most part not going to be that way.FoolsErrand, sherlock510, baha and 2 others Thank this. -
Hell No!!! Not now, if you absolutely want to do it, wait for prices to drop some more,it’s going to get worse before it gets better. Then survive till it gets better. You’ll be “ Poised for growth” as they say. But still broke!!! Lol
baha, Midwest Trucker and FlaSwampRat Thank this. -
I am just saying I would be more comfortable talking to OO's in real life, even then a guy has to take some with a grain of salt, but when you talk to one that has been in business for years and not whining about where he works, and is driving decent equipment, you can decide if the guy is somewhat up and up. talk to ten guys working the same place and only one of them has something bad to say, well you can get what I am talking about.Rideandrepair and FlaSwampRat Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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