.95 per mile? What am I missing?

California requires you practically have a "new truck/engine" these cost roughly $150k today and figure financing only 1/2 that ... where the hell is the $1,500 truck payment or lease, or rental or depreciation or whatever you choose to call it in those figure noted above? And where is the salary or mileage pay? So bottom line you broke even, at best for all of the worry, stress, and initial capital investment. May as well drive a company truck if you're not going to earn any equity in the truck. At least if you get sick for a few months and can't work, you don't have to worry about your truck going for a walk one night.

 

Definitely good to know. I haven't gotten that far as to starting to own a truck. I collectively found general info throughout my couple of months research about driving, and put it on excel. I have found there are different variations in costs, whether fixed or variable. I didn't change all the numbers in there, since I don't know the detail set up they have.

I have left my excel as this since I was projecting a general idea on what the result would be a couple of years from now [factoring I have paid off the truck lease - which is why it doesn't show on here]. Coming from the finance industry to start trucking, I know there are other sides of trucking financial accounting, which have been mentioned here. You need a ledger that shows monthly equipment depreciation including true asset loss. This would be important so you would know on paper if it is wise to trade before or after lease end. Each years depreciation isn't the same. Also, need Sub-ledger costs, such as admin, supplies, etc.

But I'm not a trucking guru. What a finance guy sees on paper, may not be what needs to be looked at as a trucker. A ton to learn for me, and am very excited to. I must say, it is more interesting reading these O/O threads more than the company driver. I find much more primitive info!

Thanks for everyone's input so far.

 

.95 cents a mile, you might as well go dig a 6 foot grave putting the dirt on a tarp, jump in and pull the tarp on top of yourself. Only a fool would work for nothing.

 

I have just resigned to the fact that no matter how many facts proven by my receipts I have, this mindset will never change. Sorry y'all are having trouble making in the hypothetical "tough" times, I know I could run all day long making money at that rate. I choose not to because it is not necessary but in crunch time, I know I could survive and grow with this wage and profit margin.

Mike

 

95 cpm....dont waste your time

 

I'd rather waste my time going 57mph

 

How many years have you been a O/O?

 

Survive, yes. Thrive? Not a chance.

 

I have been semi o/o 4 years. Enough to know what it costs for me to keep the girl on the road. Before that? 3/4 ton pickup and 30' flat doing hot shot. I may not "understand" this as well as some claim to but I do know that if I have been around this long, I'm doing something right.

Spyder, I'll say this. I could add trucks and pay drivers on that. I'm leaving it there. I got nothing to prove.

 

Unless your truck is paid for and you live in your truck and everything you own is paid for...I dont see how even going 45 mph will turn a profit with 95cpm