Aspiring Independant Owner Operator

How much does a new truck with a warranty cost?

I am 21, have been trucking for a few months and a big saver/have no expenses such as a family. Basically I am willing to spend 90% of my salary over the next couple years on a truck in the hopes of becoming an independant owner operator.

Do I sound crazy or smart?

Hell if you were 21, willing to save up enough to buy a truck in cash what route would you take specifically?

Any other thoughts and opinions are very welcome.

 

Buy Gold. Far better return on your investement.

Your 21 so lets say you buy 100,00 in gold over the next four years leave it alone for 20 years you'll have really nice retirement by the time your 45.

Oh and by the way YOUR CRAZY!!!!!!

 

I just don't get it!! !

I wonder who and how that Name got started?

From Trucking Schools? Trucking Companies?

I've seen Way Too Many Owner Operators Run Themselves into the Ground.


Is it just the wording of being an " INDEPENDENT OWNER OPERATOR" ?
That makes people and drivers "Wanna Be"? Does it build their ego ? If they carry a Name like that?




Where did they get this idea from?
It's like, They're going to Kiss A Frog and Turn into a Prince !


Nto, Do you have plans on what to do with that truck after you buy it? You don't buy a truck first and then figure out what you're going to do with it.
Park that Shiney Large Car in your driveway and take pictures of it?

 

Anything is possible.

You may have issues with insurance, most insurance companies want a year or two of recent driving experience, which may hinder your efforts to lease on to a company.

Because of your age you may also have issues with obtaining credit.

You need to call insurance companies and dealerships to find out exactly what you need to accomplish.

Being single and having no expenses and liabilities you have to potential to make A LOT of $$$ as a O/O.

I remember those days! Good luck to you.

 

I believe he plas to save 90% of his income over a few years and buy one new.

it will never happen though. Rooky like you will be lucky to make $30k a year. You can't live on $3k a year that's $250 a month. $62.50 a week. and thats IF you can make $30k which I doubt. Then add in inflation in truck prices over the next few years and I say you'r looking at 8+ years of living liek that. It's one thing to liv that way for one year. good luck on 8 years.

 

How do you figure? If I only drove 2000 miles a week and got paid .33 cents per mile then yes I would be making 33k per year. If the economy and freight picks up dont you think I will be able to make much more? Sense I have never driven in a good economy I have heard that 3000 miles per week is good/great.

3000 miles per week, .33 cents per mile, 50 weeks a year equals to around $49,000. Spend 10 bucks a day on food and I have around 46,000. Also if the economy picks up I should be making plus .35 cents after a year or two of experience.

I doubt the ideal scenario of buying a new truck in the next 2-3 years will take place looking at the present economy but I don't think saving up to buy a truck will take as long as you think. 4-5 years is just fine.

 

I am less interested in leasing a truck and more interested in saving over the next couple years and buying the truck outright with cash. I figure if the economy stays the way it is leasing a truck will be less profitable than being a company driver.

I am 21 right now. Lets say I am 25, have 4 years of driving experience and have enough money to buy a brand new truck. Do you think I would still have problems with insurance?

 

I wish it weren't so, but you're going to found out a lot of things about paper math and theory. And I assure you I'm no cynic.

 

After a year of experience in a good economy while only spending $3600 per year on food how much money do you think I could save in one year if I make .33 cents per mile?