Kicking around the idea of getting my own truck in the Spring of 2014

I was thinking around March of next year possibly getting my own truck and signing it on with Superior Carriers as an independent contractor. They pay 62% of the loads. When you get your settlement statements the only thing you have to worry about is taxes and expenses. They pay you 100% of the fuel surcharge. Potential gross income is from $150-165k annual.

Out of that you would have to deduct truck expenses/repairs, taxes. Truck insurance is already taken out before you get your settlement so you don't have to worry about that. I assume if you use more fuel than what the fuel surcharge covers you will have to deduct that from your income. I am still researching the fuel cost so I am not sure how much that would eat into the gross but I do know of several ways to conserve fuel so you don't have to put out so much for it.

I know $150-160k does not sound like a lot of money, at least not to me. But if expenses, fuel, taxes leave me with at net of 70-80k that is more than I am netting now as a company driver. Just wondered if anyone has signed their truck on with any company and got paid percentage. Is it worth it?

 

Feel free to elaborate. That is why I am on here asking questions. Nothing is set in stone. If I can't make money at it I am not going to buy a truck. Simple as that.

 

Thanks. I will start keeping track of that.

It is nice to not have to worry about fixing a truck that is not yours. Being a company driver you can write it up and be done with it. Owning your own truck would probably be like having a second wife. All the money goes to it....

I was just thinking about it though. I figure if I am going to stay out on the road it would be nice to make a little more money.

 

Thanks for the positive post. Being signed on with Superior as an independent contractor would not be the same as a true o/o. I would run under their authority so I guess that is where the difference in gross income comes in. They take some of the headache out of it. I would be self employed and own the truck. It is not one of those fleece deals.

I have cash set aside for a truck and maintenance so I would not be entering this venture in debt. I don't think I could make it with a truck payment although some of the guys that have their trucks signed on have a truck payment and they are making it.

 

I don't need anything fancy. The truck I am in right now will probably be on the sale lot soon. I could probably buy it for cheap. It has had a lot of new parts put on it. New turbo, egr, injectors. Steer tires are recently new, drive tires 80%. Already has compressor and pump set up on it. Not the prettiest truck but I don't care. It runs good. Has 528k miles on is so I think it will still go another almost 500k. Got a Cummins in it.

Option B is a KW T600 mid-roof with Cat C15 (used) for more money and would have to get the compressor and pump, pto, and drive shafts put on by our shop. No charge for the pump and compressor if they have them around but labor cost for install which is not a whole lot.