Can owner operators make 4k per week after all expenses and taxes?

Discussion in 'Ask An Owner Operator' started by Power Meister, Aug 26, 2022.

  1. Power Meister

    Power Meister Light Load Member

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    Sure, you are at $1.64 income per mile. Which is pretty good. Driving 2800 miles in the week, and your income would be $4592/wk. It appears the hopper trailer is what gets the far higher rate than today's van spot rates.
     
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  3. Siinman

    Siinman Road Train Member

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  4. Power Meister

    Power Meister Light Load Member

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    Well, actually expenses are given as a per mile average, because the spot rates are given as a per mile average. Using per mile gives a reference point for the math. The math would be simple, just leave out any truck payments. And use .22/mile as average maintenance and repair expense. And use your actual fuel expense. Figure, 2250 miles per week ran. With those facts, what would your income per mile be? Also, as stated, $24k/yr is probably the average repair and maintenance expense, right? Further, you will get $5/mile loads and $1/mile loads that is why the average is used.
     
    Last edited: Aug 28, 2022
  5. Siinman

    Siinman Road Train Member

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    My amount would be way below on maintenance.
    Example for you would be a few weeks ago I did load from MO to WA $5994 and came back on $3800. One week light loads. Fuel MPG was 8.4 MPG going out if I remember right. Fuel was 4.11 Gallon first filled up and was 4.35 another time and 4.36 on the three times I filled up on way up and back. Got 9.2 I think coming back. None of this includes IFTA/ License/ 2290/Personal property taxes or anything else. So you will not be able to give a true fact answer unless you know all of your cost. Total miles was around 3700.
     
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  6. Power Meister

    Power Meister Light Load Member

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    Right, well the load from MO to WA paid $2.95 per mile. Just say fuel is $1.00 per mile. Maintenance is .11/mile on a new truck, and all the other Authority expenses added together are also .22/mile. So your income per mile on that load is 1.62/mile. But, actually, average spot rate today is 2.40/mile not 2.95/mile. So, at today's average spot rate your income before your truck payment and taxes would be 1.07/mile.
     
    Last edited: Aug 28, 2022
  7. Siinman

    Siinman Road Train Member

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    The load to WA paid 3.24 per mile. Fuel would had been right around .50 a mile. Maintenance would be closer to .08 and your Authority expense is averaged out of every mile ran per year. So again without knowing all the details it means nothing per mile. If you know all miles driven in a year you can come up with that number. If you plan on driving 100K a year or 120K a year makes a big difference in the numbers per mile.
     
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  8. Siinman

    Siinman Road Train Member

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    And why did you say and the end the change because of spot market rates? That is a spot market rate so no need to change it. I run spot market only.
     
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  9. Judge

    Judge Road Train Member

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    I only ran 84,013 miles last year.
    53550 loaded miles.

    I’m a slacker..
     
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  10. Siinman

    Siinman Road Train Member

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    I cant say much either I ran 76K last year because of health and issue with truck getting messed up from towing. But still made plenty not to worry about it.
     
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  11. TallJoe

    TallJoe Road Train Member

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    Maintenance is hard to determine on a per-mile basis. You can run for months on end without any issues and the only maintenance would be truck washes and PMs then you lose turbo and all of a sudden your account is drained for 10K between towing, truck rental, and repairs. Trying to average it out may not make too much sense either because one year when rates are good you drive and drain your truck life - mileage faster than in poorer times when you pick trips more selectively. Also, in poorer times, counterintuitively, the per mileage maintenance may be exorbitant because this is the best time to fix many overdue things while there is little incentive to do work.
    From my own experience, I never spent less than 15K and more than 25K per year but included all the things ranging from additives, truck washes, and tires to towing and turbo replacements.
     
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