Advice getting started

Looking to purchase a used cab/box trailer combo to start hauling OTR/Long Haul. I used to work in the industry many years ago repairing trucks and trailers and also making local (Chicago, IL) deliveries for the Sante Fe railroad yards.

Looking to purchase a rig and I am very interested in hearing from veteran drivers on rig preferences, expected purchase prices, insurance costs, operating expenses, etc.

I realize this is a very general question, so I will try to help you help me by providing a bit more info...

I am basically interested in a truck made by either Kenworth, Peterbuilt or Volvo. I have known drivers (years ago) who owned these makes and always seemed very happy with them. Any other advice will also be gratefully considered. A well equipped sleeper would be a must as I plan to haul OTR.

As far as box trailers go, any would do, but I am partial to Trailmobile as I used to build and repair them.

I want to shop for units that were manufactured in 2003 or later and have resonably good service life left, say at least 3-5 years before requiring major repairs or replacement as a whole. For instance, what would be reasonable milage on a used rig to last that long in general without major overhauls?

My initital investment would be around $75,000, but could go a bit higher for the right combo.

From there, any additional advice on insurance, licensing, finding loads, pay rates, etc. would be greatly appreciated.

I want to get as much verteran advice as I can before visiting local truck sales lots so that I am more current with my info.

Thanks in advance!

 

While I appreciate your viewpoint, not buying a rig wasn't the advice I was looking for.

I am well aware that being new to the industry will bring many challenges and I don't expect any of it to be easy. I am OK with that. My first actual (not go-karts or dirt bikes) driving experience came from driving a late-model Pontiac oval track racer at the age of 12. I was the only kid entered and won the race. They weren't aware I was 12 when I entered and once they found out, I wasn't allowed to race again there until I was 16. Put simply, I am not afraid of challenges.

I probably should have elaborated a bit more in my original post. I have a great deal of experience opeating heavy equipment and have maintained business insurance covering it all from both State Farm and a private business insurer for years, so insurance won't be a problem. I just don;t know what is reasonable on a tractor/trailer rig and would like some advice.

I have several friends who have recently lost their jobs as veteran drivers and see this as a good way to start a small new company, which will grow over time and produce jobs for guys like that. They would do much of the driving. The problem is that none of them can offer insight into buying rigs or running the actual business as they all worked for other, established companies. For me, it would be a long-term investment and only a part-time job, not my primary source of income. I would be heavily involved in the business side and much less as far as driving goes. The goal would be to add rigs as quickly as possible and practical to grow the business. The rigs could also be used to supplement our other heavy equipment projects as we currently farm that out to other companies.

So, I am looking for startup advice.

As far as the jet question goes, I love planes and flying and had the pleasure of flying a Hawker 800 a few years ago and that got me wanting one real bad. But, at a price of 7 million for the one I flew, that will have to wait for a while. I just don't have that kind of cash laying around and if I did right now, I would buy a fleet of trucks and put lots of folks to work, not buy the jet. So, my answer is mixed... Would I buy jet now? Sure, if I had the money to do it and not negatively affect the rest of my life. Otherwise, no.

The trucking company is a different story entirely and I believe I can help out others while diversifying my businesses.

Hopefully my explanation makes a little more sense and makes me look less like a ######### newbie.

 

Definitely helpful. Thank you!