Can a recent CDL graduate purchase a NEW truck and start out as an Owner/Operator?

Yes, I did. Twelve years ago. My son-in-law did. He has been in business a year now.

 

Your question... I mean, you're pretty much fishing for "yes" answers, since you made it clear you didn't want to hear anything to the contrary... so, I'll give it to you. Yes. Go for it. Presumably, we're talking about an adult, who can take responsibility for their own decisions. Decisions like this are supposed to be a part of the freedom they have as an adult, so let them go for it. Either they'll sink or swim. That's the gist of life in general. Maybe they'll fall on their ###, or maybe fortune will reward the bold. Only time will tell.

 

I had well over $20K in the bank, put 20 down on a Peterbilt and bought a 48 ft Transcraft Eagle with a side kit. I ran from 130,000 to 140,000 miles year kept it polished all the time and traded it at 430,000 miles which keeps engines under warranty and the value up on trade. You can write it off over the 4 yr period. Go to Dalla Peterbilt and get the best deal you can, take it back for any work and when you trade they know the truck. The pic you see is when it had 30k on it and it looked like that at 430K.

If you want to double your money, fold it and put it back in your pocket.

 

Probably not, most financing companies want proof that you got work lined up, Excellent credit or not. Unless you paying straight cash, you won't be getting a dealer or finance company to fiance you a truck with no Trucking experience or work lined up.

 

Now your talking, but still starter CO. with their own self/insur. will be the ones that will take the app., start finding job then buy truck to match job?

 

it's probably doable but its going to be a tough row to hoe and lots of chance for failure.

 

7 years driving straight trucks doesn't mean squat. To companies or the like neither does local driving with a CDL in a tractor trailer. There's 0 weight behind such experience so you might as well just forget trying to use that no matter which way you go.

On the other hand other than can a rookie fresh out of school purchase a new truck? Doubtfully. Used, possibly with a good down payment in pocket and enough funds in the bank to prove you can continue to make the payments, insurance requirements, repairs etc. if your credit even allows. Your talking about a lot of dough! Then you better make sure you have a rock solid business structure in hand plus a back up in it goes south because it's nothing like trying to get a loan for a car or home. Banks and finance institutions for business are really nit picky and finicky about who they hand out those loans to.

Trucking is a different kind of beast from that local straight truck BS. But if you don't know how the game works out on the road, you'll be bankrupt before you know it. In most cases one of the first things a lender wants to know is if you have experience in that field of work and understand how it works which you will have to prove and again, that straight truck work isn't considerable experience. The harsh reality is your going to get shot down so getting that experience IS highly necessary and bank up as much cash as you can in the mean time cause your gonna need every penny.

So since you don't want to "hear it" then I didn't sugar coat it for you just like everyone hasn't. That's straight between the eyes of how it is.

You'l need to save at least $20K just for a used truck alone and it's not gonna be great but wise picking might get you something halfarse OK. But you still need funds for maintenance, tires, insurance, tags, permits, money to pay personal bills and live on for at least a minimum of 3 months. Being an older truck though, you had better build money up for that up coming in-frame that needs to be done if you don't buy one that is already in need of it. Brand new.... Chances are pretty much gonna be none.