Thanks for all your posts!
Without you guys I am lost!
I have been a company driver for 10yrs now
Me and my wife first met the got my licence
And we have 2 kids under 5yr
Bought a condo in 2015 it's ok to start out with..
I am pretty good with save money and investments. The last 2 times I have had a down payment for a truck my wife took it for a family vacation and the other was a down payment for this here condo all within 2yrs or so. Good vacation. And good down payment for this condo.. cheap and easy to live here affordable..
I live in Alberta just south of Calgary. Been with this job as a company driver now 2yrs. Dedicated scheduled..it's.. ok don't like the traffic and times when leaving..
I like driving long haul better...
USA and Canada have good and bad points for both country.. for drive long haul.. that another story.
Need advice:
Now my wife promised me in return for the family vacation and buy this here condo that she would be buy my side as a owner op.. now she changed her mind.. when I come home on my days off.. not happy to see me.. not want me around.. maybe she is tired or stressed out from the kids or what? But seriously I am happier on the road than being home.
So can I make it as a owner op with only me as the boss with no wife back up?
Now was thinking this for idea.. also need advice
I have had lots of breakdown over the years and I know what's what..been a company driver for 10yrs now.. i want to be in total control of the truck and maintenance.. I feel like I can do a better job at maintaining the truck than the company could ever!!
I think I am ready to be a owner op
I was originally looking at a 2012-2014 kenworth or Peterbuilt for $60-70k 700-800kilometer on the truck... looks ok for start out.. but I want some kinda backup... and most company no more than 7yrs old..I also want some kinda safety cushion of warranty.
Or
I was thinking around $100,000 for 2015 or 2016 Volvo with 200-500kilometer as my first truck with warranty up to 4yrs or 800,000 kilometres that way I have the safety cushion of a breakdown.. but I would still have some kinda repair bill but not much..
Advice? or ideas on that?
Plan? Pay debt off.. just credit card be debt free.. and after that use my debt repayment for the rest of the down payment
Goal $60,000 for the truck down payment
$50,000 for the truck down payment and $10,000 in the bank for a backup..
thoughts on this? Advice
My boss at work use to be a owner op. Well supposedly. Told me to apply for the finance in a business name.. so I go down to the registry office and get a inc (incorporated) business name? And apply for all credit for the truck using that business name?
Then get a good tax man that I can trust and afford to get this all set up and ready to go?
Advice
Goal for this is now..( the inc business name and the tax man)
Goal: down payment $50,000 and $10,000 in the bank by December 2018 ready to go to work January to March 2019
Thoughts on that and Advice?
Was going to put the truck on Bison on the van division.. running Canada 7-14days out or USA 7-14days out
Advice? or ideas on that?
Already looked at the owner op contract already miles and pay they want 12,000 miles per month out of you at 1.20/mile
Advice? Ideas?
Can I make it as a Canadian Owner Op?
Discussion in 'Ask An Owner Operator' started by DaWingd Wheel, Jun 20, 2017.
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1st deal with the wife issue, that's the most important.
12000 k a month, do they expect that as an overall average? That's 'live to work'. Wow.
$1.20 a mile. Do they pay insurance, plates etc.? A buck 20 isn't that much.
Why such a huge down payment?
Sorry, more questions than answers for you.CrappieJunkie Thanks this. -
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CrappieJunkie Thanks this.
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Ok what to do with the wife issue ? She has everything she needs and wants..
They want minimum 12,000 miles a month out of you I was thinking more like 14-17000 or around close to 20,000 miles per month to make it buy
Yes $1.20 a mile they pay insurance and plates
Why such a huge down payment? I want to feel safe and secure and with something of a warranty till I get newer
Borrow less.. pay ed more
Now only borrow finance $70,000 to get started.. -
Wife doesn't want you around, you don't like being home and you don't see an issue there? SMH
FSC on top of the $1.20 I assume. -
Wifes cheating in you. Lol
passingthru69 Thanks this. -
How do you plan to run much more than about 12000 per month with electronic logs?
Get life / wife situation good at home. Going on the road to get away from it isn't likely to solve whatever problem is there. Now that I write it... doesn't sound much different than becoming an alcoholic.
If 1.20 is the all-in rate you will not take home much more than a company driver does, and you will assume all the risk. You might get ahead if you get a truck you can drive to 2,500,000 km without having to do any major repairs, engine rebuild being probably the biggest.
The only reason to become an owner operator is so you can earn more money per amount worked. If you can't do that you are just an idiot who started a business and found a sucker to work for less than another company would pay him to work. Guess who the sucker is? There is nothing wrong with being a company driver at a decent company and making decent money while carrying none of the risk as far as breakdown, maintenance, insurance and payments if supply of work slows, NONE of that. I consider Bison a good company, I have never heard resounding negativity from their drivers.
Firing up a business at this point, I would guess, is likely to finish off whatever life your marriage has left in it. Then what is worth what? Only you can answer...
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