Average startup cost?

Discussion in 'Ask An Owner Operator' started by cvnorton, Feb 20, 2018.

  1. cvnorton

    cvnorton Bobtail Member

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    For those of you O/Os out there.....how much funding did you start out with to hit the road?

    This is just a pure shot in the dark from my research:

    Truck: $25,000 to 45,000
    Heavy Highway use tax: $500
    IFTA: $1700
    Truck Ins: $900
    TWIC: $100
    Passport: $135
    LLC: $500
    Cash or credit on hand for unexpected repairs: $15,000

    So approximately: $60,000
     
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  3. gokiddogo

    gokiddogo Road Train Member

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    You have the right thought process
    I would say 75 to 100 is more comfortable. And be prepared to flush it all down the crapper if the shtf real bad.
     
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  4. Oldironfan

    Oldironfan Road Train Member

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    Add some extra zeros it never hurts.
     
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  5. cvnorton

    cvnorton Bobtail Member

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    Yeah I was originally thinking $100 - $150k so you could get a better truck and have more operating capital for those unexpected breakdowns. But I also thought some of the other things I listed were more expensive then they actually are.
     
  6. againstthewind

    againstthewind Road Train Member

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    money to pay off corrupt DOT officers lol
     
  7. ttown247

    ttown247 Bobtail Member

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    After drivers pay their down payment $5k-$15k for their truck I guarantee you most have less than $10k in operating expenses and probably less than $5k for a lot more drivers
     
  8. 77fib77

    77fib77 Road Train Member

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    Truck Ins $900?

    You can finance part of the truck.

    Ifta pay per quarter. I think you meant plate.
     
  9. DSK333

    DSK333 Road Train Member

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    Have you confirmed this number?
     
  10. cvnorton

    cvnorton Bobtail Member

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    Maybe I was looking at company ins or registration/plates. It has been a while since I looked into it. And I know many finance their trucks but that is dependent on getting financing at a reasonable interest rate though if at all.
     
  11. gokiddogo

    gokiddogo Road Train Member

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    Insurance for a startup probably 12k a year for low valued equipment and 18-22 for high dollar equipment. Plates 3000 a year or so. Ifta and road taxes are peanuts. 2290 is 550/year and ucr about 75/year.
    Just don't be one of these guys that gives his business a big interest free loan to buy a truck and gets himself a job for company driver wages and never repays the lender for the equipment purchase. Then you're actually going backwards. Lots of folks do it and don't realize it til they need to replace the truck and uhoh the lender has no money. Or you save up your company driver earnings and buy the next one..........lol.... happens every day..
     
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