Late bloomer question

Depends on if you're providing the trailer or you're pulling a company trailer. Tractor alone (new), you can figure for depreciation, tires, fuel, oil and maintenance ALONE about $1.00 a mile. Then you have to pay yourself, insurance (several), license, fuel taxes, hotels, bookkeeping/office expenses, downtime due to breakdown or illness (note has to be paid), medical insurance? etc, etc, etc

Truck ownership should not be entered to lightly. Many are loosing their a s s and don't figure it out until that first major $3,000 breakdown/towing expense or they find themselves needing to take a month home time due to medical crises in the family. Absolutely DON'T buy/lease a truck until you've driven 12-18 months as a company driver.

 

Many of the lease and o/o contracts assume the driver wants to depreciate a paid for or 6+ year old tractor and can baby it until the wheels fall off. I always recommend figuring the depreciation as if you went out and put 20% down on a $140k year tractor (new) and will properly care for it and trade it at about 500k - 600k miles. I just can't see how any leased tractor o-o can pay himself a decent wage if his paid miles don't exceed 2300 MPW and $1.40 mile w/ surcharge and empty miles kept to less than 10%.

If you were to inherit some money, could plop down $100k towards a new tractor and lease on with the right carrier, you could be setting yourself up to be very successful and could comfortably sit home 4 weeks out of the year so long as you manage your money right and keep the truck moving and loaded consistently.