Are you thinking of being a owner operator (Consider This First)

Discussion in 'Ask An Owner Operator' started by Trenton325, Nov 30, 2024.

  1. 201

    201 Road Train Member

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    Hey, I didn't listen, why should they? :dontknow:
     
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  3. OldeSkool

    OldeSkool Road Train Member

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    I love how everyone talks about the payment on a newer truck. I made a lot better money with a newer truck too when I was owner operator. I can guarantee it’s cheaper to make a higher payment than to have all the repair costs plus having usually several days downtime which usually costs more than the repair. Not to mention a towing bill. You end up making several payments with one repair bill.

    Now if you’re an owner operator running an old pre emissions truck that you can do about everything to, have a shop in your yard full of tools, and plenty of time on weekends to do preventive maintenance than you’re probably right. But you have to realize you aren’t the norm.
     
  4. ElmerFudpucker

    ElmerFudpucker Road Train Member

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    Down time is the real killer on older equipment. Repair cost are generally traded for a payment. But you can’t replace the lost revenue. And that’s if you do the bulk of your own repairs. A payment is cheaper than shop bills.

    working on the truck on the weekends only is a pipe dream. You have to shut the truck down at some point during the week just so you can order the parts. Plus after a while you and your family get tired of spending every minute off the road working in the shop.
     
  5. 062

    062 Road Train Member

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    New trucks are not immune to problems. If you need warranty work done at the international dealer in Greensboro nc. You have about a two week wait.
     
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  6. Ridgeline

    Ridgeline Road Train Member

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    I have been hesitant to post anything, but here goes.

    This why I keep telling you new owners and even those who have been running as O/O for a while - DO YOUR DUE DILIGENCE WHEN BUY A TRUCK. Most of the time that is ignored by people who think they know better and buy maybe two trucks in their entire career. It is met with opposition by those here and other sites that think that a truck is just a big car and it needs to be treated as one.

    Due diligence is a business thing, it is done a lot in the decision-making process. Many good-managed fleets (which there are a lot more than you think), just don't willy-nilly pick up junk off of craigslist and hope for the best. They follow the process to make sure that the risk of downtime is reduced or manageable for the long term.

    So Risk of downtime is the real issue for all of us, I can absorb the cost of it while others can't. The driver suffers and my bottom line suffers so for me it is simple, reduce the risk by being proactive, not reactive.

    Being proactive is to come up with a means or method to make sure that the truck tool is dependable and the risk is reduced as much as possible. I use a method that other fleets use that move high-value contracted freight, amortize the key components, and change them with parts sourced from a good supplier when the life of that component reaches the ATBF time.

    In addition, I do a lot of OAs at 17k, starting from the very first day I get the truck.

    This costs more money, and it is a lot of planning that goes into it, and coordinating it sometimes is difficult.

    There are write-ups about it in some of the fleet trade rags, so it is not just me saying it.


    Why do all of this?

    Well to make sure you do not have UNEXPECTED downtime.

    There is a solution: buy a new truck and setup a maintenance program that is proactive, not reactive. Put money aside, put your maintenance on a calender, and keep the truck moving.

    BUT you say "I want to be a big-time truck driver and not an ELD so I am going to buy something that looks bad ******."

    OK go for it, but I would buy new and the following quote is why.
    Here is another thought: a lot of owner-operators don't take care of their trucks, this is a myth that they do. I have had a "discussion" with one ***** clown about Due Diligence, and he said he would never recommend that. Four months later, his truck was sitting in the shop, and it took 3 weeks for them to fix the problem.

    I know a few who bought the truck of their dreams. They rebuilt it from the ground up with new major components like the drive train to make sure they don't have downtime, and they take the proactive approach to make sure it is dependable.

    This is the rub, you have to make money or you work on your truck, time is something that you don't get back.
     
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  7. ElmerFudpucker

    ElmerFudpucker Road Train Member

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    I don’t believe anyone said they were, but they don’t require the level of attention that a truck with a million miles does. Also maybe you should take your truck to Charlotte or Columbia or Richmond. Sometimes it’s worth a 3 hour drive to save a week. More than once I have done the repair myself because it’s faster than warranty. Again to save down time. Don’t step over a dollar to pick up a dime
     
  8. 062

    062 Road Train Member

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    I’m the one working on them because they don’t have time to wait for the dealer.
     
  9. NorthEastTrucker

    NorthEastTrucker Heavy Load Member

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    Its a difficult industry especially in todays economy and over capacity of truck. I feel like if I bought an older truck with nearly 500k miles back in 2022 when I bought a new one. I would of gone bankrupt already. I'm not saying the new ones are way better because these warranties only take you so far. Howver, Cash is King, depending how long your money stretches will most likely stay afloat. I personally wouldn't become a O/o again especially not in a fragile economy. When food prices doubled in the last few years and higher spot market rates have become far from few. These are huge signs to dial back. Direct consistent freight contracts might save some on whether they can have a meal tonight.
     
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  10. abyliks

    abyliks Road Train Member

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    There’s really a lot of different factors In this, running a truck locally is different than running it OTR, plans/commodity change, needs at home may change, someone who needs a truck to move their (insert whatever here) ~15k miles a year has different needs then someone running 150k on spot market, one thing I will say is nice is that as long as plates and insurance are paid there’s no money going out with a paid off truck if you leave it parked, because for the most part, plans never stay the same when starting out, sometimes you are better off parking for a little bit instead of continuing to do something that doesn’t work, I would never do a used emissions truck though but I’ve averaged 38-41k under my truck over the last 4 years, I do what I can myself, but a lot of larger stuff gets sent out. I could, for pre emissions trucks, you are buying cores IMO, unless you are buying a truely restored truck, which isn’t a rattle can job and a $400 wood floor

    That being said Now that I have a game plan and a little more knowledge, it’s time to start investing in new equipment, i can only do so much in a week, and laying under a truck is something I would like to start doing less of especially when I can just take depreciation on taxes instead of repairs.

    After 27 years the first time my truck saw a tow truck was in early October after taking that Kia head on
     
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  11. DirtyBob

    DirtyBob Road Train Member

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    Fact of the matter is any truck new or old can be a nightmare and most trucks new or old can make you money. I've owned new, I've owned old, I watch multiple people everyday that are successful on 1.8 million+ mile chassis. Never saw much difference except....

    If you want to make money with an old truck you better be ready to look it over thoroughly everyday to stay on top of it. You better love that truck more than anything because you'll be spending most your off time working on it. You better know some old hands that have experienced the quirks of your particular truck and drivetrain. That truck will be your life.

    You can try to be the laziest O/O with a new truck and only have other people work on your truck when needed and there's a good chance the truck will run well enough for business. If you try to pull that with an old truck you might as well burn barrels of cash that you won't have.

    The fact that most fleets don't go that route doesn't make it wrong. They have different business models, needs and demands. Mainly they can't get a fleet of old trucks financed and you definitely are not leasing them. Then you have to find company drivers who are willing to put in all the extra daily work and old truck needs. Not many of those around. And for the big boys, there aren't 40k old power units laying around to make pennies per load. A fleet of the same exact truck gives you an easier logistics path for parts and requires only training mechanics for one model which is easy to do with a new truck. Old trucks are more difficult to insure at bigger companies due to tighter insurance requirements for cheaper insurance premiums. These are all cost saving measures that only work at scale that go hand in hand with the new truck fleet that would never be a realized cost savings to an O/O.

    Don't buy a new truck because fleets do. Buy a new truck because you're lazy like me and like your family more than your truck. Don't tell the old girl she's 9 years old though or she might stop acting like the new truck I bought.
     
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