How do my numbers look for car hauling? What am i missing or inaccurate on?

Pay your driver commission, not by mile. 20/25% is realistic. If you pay per mile you'll be losing some money, I pay mine 25% of the net, and it works out great. $1 per mile per car sounds great, but really your looking at 0.50/0.90 within 350/600 mile runs. Dont get me wrong, sometimes you can get some good loads that will pay over $1 mile. And the most important thing, buy a 4 Car! That 4th car really makes a huge difference on the finances. You can make some money on 3, but for another 5k you can get a nice 4car. And it'll pay itself back 10x over. Insurance is gonna be at least $1500 monthly on a good day, mine was 4k down, 1800 monthly.

Just giving advice here, dont get discouraged by these numbers. You can and will make money, but there are a lot of factors here. Good Luck! Hope it all works out for you and your business.

 

I am not a car guy, however this is good intel. I know of quite a few guys starting out with 3 cars, they always say I should have started with more.

 

You can make $ with 3, but if you can find a deal, sometimes the cost difference between a 3 & 4 isn't an extreme difference.

Are you running yet ?

 

How are your numbers looking now in the new year ?

Would you be open to possibly mentoring someone who would like to follow in your footsteps ? If so if you could shoot me a private message ( I think you are fairly local so if you run into a not crazy busy day we might be able to meet up in person and talk face to face )


Thank you for all the info you put out and your story so far

 

How do you manage to work without CDL? 3 car trailer stays under 10,000lbs gvwr?

 

You are the man I am looking for! Forgive me, I am new to this site and wanted to send a direct message to you but could not for the life of me figure out how. I have a few questions and ater reading these forums for hours, I think you are the guy to ask.

I currently own a brokerage (over 6 years). I also have a registered carrier with a USDOT # in FL (basically filed the paperwork and then never ended up getting the trailer 6 years ago) however, I recently moved to GA. I have a few accounts in the ATL area that totally justify me getting a 2-3 car wedge and dually to pull it. Here are my questions, and I would be so grateful to get straight answers from someone like yourself. (And yes, I moved my family out of FL because it is a cesspool).

1) F350 (GVWR 11,400) + Take3 Model40 (GVWR 14,000) that will ONLY operate within 75miles of Atlanta - I do not need a CDL, correct? I know this is a sore subject, however, a CDL is in my future. However, if I can get this truck and trailer going by March, I will have more than enough business. I plan on getting the wedge up and running, and then once a few months of it working according to plan, purchasing an additional larger rig and trailer and also, a CDL.

2) I know I need to file an MC-150 to have my Carrier address changed to GA. Once I do that I can apply for insurance. I am seeing numbers all over the place for insurance. What is going to be the rough cost for insurance on the Dually/Take3 to be compliant? I will be the only driver, and I have a clean driving record. And do you have to have a CDL for the Insurance? If I never plan on being over 26,000 lbs or crossing state lines, I see no immediate need for it, unless you need it for the insurance. This is so far the hardest question I have tried to get answered so far.

I really would appreciate your expertise.

 

Happy to help. Because of this board's rules against soliciting my direct messages are disabled. So I will do my best to answer your questions in the thread.

1) You are correct, at those weights you skate just under CDL in every state except California. For CA based operators they look at justbthe weight of the trailer.

You didn't ask, but those weights also get you just under apportioned plates (IRP) and fuel tax decals (IFTA). All other requirements such as medical card, DOT/MC numbers and entering weigh stations still apply. You will not need a drug testing consortium since you will be under cdl, although I highly suggest you sign up for a non-DOT drug and alcohol program as a cover your arse in the event of a crash. Lawyers love to attack those that skirt the cdl program as a lesser qualified company.

2) Yes, you need to update you address from FL to GA before shopping for insurance. I can't tell you what to expect for insurance rates as they are truly all over the place. Shop around, sometimes two different brokers will return wildly different quotes using the same underwriter. Expect to have Progressive for the first year, they seem to be the only ones currently writting new enterants with pickup trucks. My clients see premiums starting at $12k up to $20+ depending on their financial and driving history.

Another question you didn't ask but I will address. You have been a broker per above, so obviously you have broker authority.

You say you have a DOT number you didn't use from 6 years ago, this will need to be updated and reactivated. You will also need motor carrier authority to operate your truck if any of the short haul work you are doing fits the definition of interstate commerce.

Keep in mind that it is the INTENT of the shipment that matters not if the truck actually crosses a state line. They look at origin, destination and intent. This means cars from the port are always interstate commerce even if they only go a few miles up the road. Same applies if you are using the teuck to gather up vehicles and store them until bigger loads are built and hauled away by other carriers.

When updating your carrier address you will have to file an updated OP-1 if you already have MC authority and pay an $80 fee. If you don't already have motor carrier authority, just broker, you will need to apply for MC and pay a $300 fee. This will also subject you to the new enterant program and start the clock for a mandatory compliance review once you are operating.

One more piece of unsolicited advice, you should get the insurance quotes before you commit to the truck and trailer in case the rates are higher than you think. Domicile zip code, commodity (new/used/salvage) and years of experience all play signifigant roles in premium calculation. It may be cheaper in the long run to keep brokering the work to established carriers.

 

Wow. You are truly a wealth of knowledge. I appreciate it. I am going to start all of my paperwork now because that seems to be the only slow part of the process really. Be prepared though my new friend, I anticipate many more unforeseen questions.

I owe you one.