Benefits of being an O/O at a company VS completely freebird?

Discussion in 'Ask An Owner Operator' started by RussianBearTruckeR, Jan 21, 2019.

  1. 2 CHAINS

    2 CHAINS Light Load Member

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    Like i said i do very well being leased on have for yrs. I get the 100% independent life . But the numbers arent much different . Ill take my discounts that lower my operating cost . And all the time off i want . Its an even trade off. I buy new truck every 5yrs . They usually have around 400k on them when i trade in. This truck 5yr 500k warranty so it will have plenty of value at trade in as well. Just bought a APU 6months ago more value to the truck. I got the APU through company im leased to new at a discount saved 2500.00. 8k for new evolution not bad that includes install. So yea big brother helps alot ill take it.
     
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  3. 2 CHAINS

    2 CHAINS Light Load Member

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    Sep 8, 2018
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    Has nothing to do with discipline . Has everything to do with lowering operating cost banking more income and working less. Im lucky if i work 8months out of the year. Thats alot of hometime
     
    RubyEagle Thanks this.
  4. chimbotano

    chimbotano Medium Load Member

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    Great !
    The only issue I have with this type of deal is that these companies will get more and more stronger and you know the rest .... but maybe I’m wired different. I see a long term rewards., but that is me.
     
  5. ulenie

    ulenie Medium Load Member

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    I am barely home and I drive a big orange truck. That stung
     
  6. RubyEagle

    RubyEagle Medium Load Member

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    Exactly. l read here a post that someone said you are paying for that free plate, free trailer usage and discounted insurance out of every settlement when leased on. They aren't doing it out of charity for you!

    Company driving went down big time with the new tax laws. Lost their trucking deductions and especially their per diem. Us O/O keep our per diem and got an extra 20% tax deduction on our profits after all our trucking deductions. But at least they still get a week paid vacation right?
     
    chimbotano Thanks this.
  7. heavyhaulerss

    heavyhaulerss Road Train Member

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    Been an o/o for 20 years. Pull flat. Started out as o/o. I love the way it has worked for me. I don't work as hard or as long as other with their own authority, but I balance work with home time and keeping healthy.
    Raised 6 kids, so the balance worked out well. Never gone more than overnight. If I loaded out, the next load was right back home. Usually 600 miles out, then back.
    The last 5 year's I've been home everyday. Get a great fuel discount too. I wouldn't think of going on my own, just not worth it to me. In my area, I could have done very well, as some I know doing 200,000 and more gross. But my private life, wife, kids, and my health would of taken a back seat, and I didn't want to put money as a first priority.
     
    chimbotano Thanks this.
  8. mover man

    mover man Road Train Member

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    The question was not o
    O/O vs company driver, it was owner operator leased to a company vs own authority.
     
  9. chimbotano

    chimbotano Medium Load Member

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    Like I said before in other posts. You are the only one can put a value to your business and the value is s going to be according with your needs and expectations. For me, family/freedom are the most important elements in my life. I work hard , but I believe I work smart.
    I run about 1500-2000 miles per week and most of the time I just run 3 weeks per month and I worked about 10 months per year . Since I try to prevent breakdowns, I had not big repairs other that regular maintenance.
    The other 2 things are important to me are
    Keep my equipment in the best condition possible and be mindful about my rates .
    I refused to haul under 2.00 per mile when the market is down (reefer) because I don’t want to screw it up for the rest of us .
     
    heavyhaulerss Thanks this.
  10. mover man

    mover man Road Train Member

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    MANY years ago I used to dream of getting my own auth and eventually having 3-5 trucks. With wife at home doing paper work. It was much harder back before everything was computerized. However bring in the moving business it was even harder.
    However the wife and I used to argue about it.
    Being leased onto a moving company meant. Someone had my back. Need a grand or two to run load. They give you advance. Bought plates and permits charged back over time. Need a over haul or new truck. They would finane you if needed. Glad forward kids grown graduated college and on thier own now.
    Difference now.
    Leased- they find load I can turn down or accept.
    Own auth- I find load.
    Leased- break down while in load. One phone call They repower or rent penske for me.
    Own auth- Totally up to me to handle. Penske wants $7-10,000 deposit cant use amex for that.
    Leased- deliver load paid next week.
    Own auth- generate and send bill. Wait 30 days or more for check to arrive.
    Leased- My choice they can get plates etc. And charge me back over time. Or I can do myself.
    Own auth- Totally up to me.
    Leased- Go home and stay as long as I want.
    Own auth- same deal.
    Leased- Over haul or new truck time. They will finance and charge all or prt over time. Or I can pay myself.
    Own Auth- Thats' my baby no help.
    THE BIG ONE= MONEY DIFFERENCE
    I have no idea the difference, but last year in total between loaded empty dispatched and not dispatched I put 68,000 total miles on the truck and grossed $2.72 per mile.
    So what ever the difference is, I really don't want to no.
    At this stage in life for me own auth isn't worth the additional work.
     
    chimbotano Thanks this.
  11. chimbotano

    chimbotano Medium Load Member

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    I’m o/o 100 independent 1 truck/reefer.
    I run about 60 k I grossed a little bit over 200k I kept a little bit more than half after paying everything else such as truck, trailer insurance .
    You are absolutely right about having more trucks . It is a pain in the ###.
    Now , with one truck only , I feel more relax and I’m 20 years younger and believe or not , keep more money in my acc.
     
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