Looking for Guidance

Kevin Rutherford has whole show about getting a truck and making money. He was on Satellite radio now does is show from his website and I see it replays on Facebook. LetsTruck.com you might like his ideas or not.

starting out all on your own can be very difficult. Just having the money flow to run 30-60 days is very expensive. You have to find customers and get paid by them. Insurance is crazy expensive from what I read on here. The odds of making it are probably not in you favor without some experience owning you own truck. Likes leased to a company having access to to their customers and fuel discounts any everything.

 

Did someone mention to have money in the BANK

 

Thousands and thousands cause mechanics dont take ebt cards.

 

When I went through it I did everything completely backwards…

First thing is get an insurance quote before you do anything else. Figure out roughly what make and year truck you want and type of trailer. Do some window shopping to get an idea of what you will spend. Grab a vin number, you may need one for the quote.

You may be limited to Progressive for a couple years depending on a few factors..like where you live..

Once you figure out the type truck and trailer and how much you’ll need to borrow try finding a lender. All the commercial lenders I have worked with required 2 years in business. Once I reached that milestone it was kind of shocking how much money was available to me. Heck, even RB Auctions approved me for $280k line of credit.
The loan part will/can be very challenging if not impossible for a new business. Perhaps your personal banking institution writes commercial loans and you could start there. Mine does but I didn’t want to use them in case I failed.
Trust me, it’s not like buying a personal auto where anyone with a pulse can get financed.

Clear those two hurdles which won’t cost a dime before anything else. If you don’t get sticker shock from insurance and can get a loan then go for it if that’s what you want to do.

Everything else is regulatory crap and there’s a ton of it and it costs a small fortune. Just not going to waste my time listing everything at this point in time.

I got started by buying my first tractor with cash and leased on to another carrier. This gave my Corp time to establish credit and I learned very valuable information in that time.

After 2+ years I went on my own.

 

20+k for insurance new owners higher maybe .

 

You will be much happier with a Volvo than a Mack. Believe me, I’ve driven both. Mack was brand new and the Volvo was 10 years old, and still no comparison. And for me that’s says a lot, ‘cause I’m a Pete guy to the core.

 

Business name and EIN tax number,business bank account