Can I get my own authority and haul freight without experience?

Well insurance companies don't know you. It's nothing personal. They just don't know how you are going to handle a truck. Why don't you just drive for a company for just a year or two first and see how it goes. That way you protect your hard-earned savings in case anything happens while you are still learning. Then once you have a handle on things. Then after that you can worry about brokers and the slew of other challenges you'll face with your own authority.

There's nothing wrong with eating an elephant one bite at a time.

 

You need a truck to get your authority. To get your authority you need liability insurance and that requires a truck.

 

Yes, you can get (into) the wonderful world of trucking with enough cash. I was reading a bit of some earlier posts I did not quote because I try to not quote old posts. However, that broker thing is not quoted correctly. It's not a question of if they will give you loads. That is decided most of the time by the liability insurance you have. The thing is with most brokers you are not going to get first line freight. You are going to get what's left. If you can live off these loads, great. If you can't at some point the cash is going to be gone and you will be either taking your rig to a dealer or watching a recovery company do it! I used to do truck recovery. I know what I am talking about here. This is why I am with @Ridgeline on this topic. I will do my best to discourage someone with little or no experience from buying a truck, and will almost do wave offs when it comes to also getting authority.

Can is a weird word sometimes. Most of the time when that word is used on forums like this I would really be better to use the word Should. Can and Should mean two totally different things.

 

5 years later, did you try it out? Came across this thread because I'm looking to do the same thing as what you were asking.

 

I've got the same question. Only difference is I have experience, I drove from 1980 to 2018 otr (48 and Canada) I was taken out of action due to a bike accident. My issue is if I don't have that requisite 1 year driving in 3 years I have two choices, start over (Not an option) or forget the whole thing. I'm 64 and I have the capital to buy a truck and trailer, even get my own authority. But I'm not spending the money if I can't get work.

 

It isn't the money for the truck, trucks are cheap, and so are trailers, but insurance will be high.

I would just drive for someone until you get experience to bring down the insurance cost.

 

It’s your call and don’t mean to crude.At 64 years old I personally would invest the money you’re going to use to buy a truck and trailer and get a job around the house. I understand not wanting to go to a mega starter company,but with the experience you have you should be able to find a small company at least in driving distance of home that if you went in at personally talk to them you would find someone to give you a opportunity.In my area a lot of ag companies like milk haulers hopper bottom carriers hire guys like you and even guys with no experience.Look around where do you live?

 

If your CDL didn't lapse, and your driving record is ok, insurance wouldn't be a biggie.

Yeah, you can do it, and get work. Will you make enough for it to be worthwhile? Hard to say.

How much drive do you have at 64?

 

Think of this as an investment. How many more years are you going to work?
What will your ROI be.
How long before you earn enough to break even. When you decide to retire. The equipment sold might return you 80% of the purchase price. Of course that depends on the equipment you bought.

Now how much would you make if you made the investment in a rental property or stocks, bonds, mutual funds.
Local bank has a High Yield savings that pays 5%. Can you get a return that good starting a trucking company?
Good luck with your choice,