Need major help

Can you get a loan for a truck and will landstar allow you and the truck to lease on?
Get the credit approval and get approved with landstar , then start hunting a truck .

there’s plenty of trucks out there, you just have to find the right one for you.
Be sure to read some of the other threads here about how to have someone inspect the truck before you buy it .

I bought my own rig mostly so I could build a shower and chemical toilet in it.

Yes the trucks are more expensive now, but the rates are higher so it’s balanced out. the thing you need to be ready for though, is if your truck breaks down , and right now with covid , you may not be able to get the water pump or one of the zillion computer sensors or whatever parts you need for weeks .

 

The big risk is unexpected repairs. The rest you’ve got the right ideas about. You can pretty much make anything work. It’s all about having control over your Life. If you can make it happen and that’s what you want. Go for it. $300 more per week, on average is $1200 a mo. Etc. Can’t listen to one person. Overall during normal times, considering all costs, he’s probably right. What you choose to pay yourself, and how much you work will determine your success. If you’re used to working hard for someone else. You’ll enjoy working hard for yourself even more.

 

Well there's a couple things.

First of all and the most important factor is that you have to have enough money. You have to have enough money to actually purchase the truck pay your insurance and pay for any repairs that you need whether that's a $500 repair or a $30,000 repair, and still be able to keep going. And some repairs the truck May sit three or four weeks, so you still have to be able to pay all of your bills and keep going. There's a reason why this business has something like a 95% failure rate

So that is the very Ultimate Super number one thing because without that you have to stop. The next thing is buying an overpriced truck and trailer. I don't agree with anyone that says well it's great if you jump in now you'll make all the money and and the rates are good and you'll pay everything off and it'll work out and be even... It's very possible you could spend $70,000 on the truck today and in a short period of time something could happen with these rates and something could happen with the whole industry or the truck itself and that $70,000 truck might be worth half. Also the rates are good right now mostly, but we're entering an era of super high inflation and and the price of fuel is rising and Rising and there are other economic things happening that are not good. But the point is you can't base your business on what you're making now that is a prescription for failure. You need to look and see how small of an amount of money can I make and still survive because when the rates drop all the people that are cheering you on saying it's great jump in now you'll pay everything off it'll work out... No no no you have to prepare for the worst and if you can get through that then when the times are good you're okay. When you work somewhere you have to show up and you get a paycheck. When you have your own truck your number one priority always has to be that you can SURVIVE.

I'm not speaking about you, but too often people I think that they're going to get a truck and it'll be great and the rates are good so I'll make money and hey everything will be perfect I won't have anything to worry about.

It's a much more intelligent approach to look at it from the standpoint that if you have everything financially in order and you make certain that you get the absolute best most Dependable truck that you can, you can make a reasonable living. And of course it goes without saying that the intelligent people that are owner-operators of the ones that live frugally.

When you see a guy that bought a truck and six months later he's buying a Corvette and a new pickup truck and a Harley-Davidson and a speed boat, then his wife is buying diamonds and Furs and redecorating the house and planning luxurious vacations, the writing is on the wall. It's just a matter of time.

 

The rates are high right now, especially reefer. However I can tell you that when you have your own truck, whether you have your own authority or are leased to someone, you are going to run your butt off. Your going to be working on your truck or taking it for repairs or maintenance on your days off. Being an O/O is a 7 day a week job. It is ALWAYS something. Just be prepared

 

Get insurance quotes and crunch the numbers. Odds are you're going to work even harder to pay the bills. When you're an OO you're never truly off duty. Line 1 is a lie! You will always be doing something work related. Trust me...it never ends.

 

You seem unrealistic. This guy buying you a truck and letting your 9 yr old ride? Seriously? Yes, he should be paying 5 or 10 cents more but this is why I would never buy someone a truck. Trucks last at least 500k, how long does a needy driver last?

 

Yep.

I bought a 92 Volvo off a farm in Nebraska on A Auctiontime. I bought the trailer from a Reitnour dealer in Texas.

I have 27 years experience in truck and trailer repair. I did 3 weeks of work before I put it on the road, and still had issues. Had I not had a significant savings, and the ability to repair myself, I'd have been done less than a month in.

Do not assume a newer truck will not need so much repairs. While my 92 has cost me about 17k (I just bought it in mid April) in parts, plus my labor, you likely don't have the ability to repair yourself.

Say you buy a 15 KW with an ISX.

Can you afford a 6k injection pump repair?
A 6k turbo?

Hell, simple DPF issues at dealerships can easily cost 5k plus.

I know absolutely everything about my truck, top to bottom. If all goes well, I'll be out for 3 weeks, and when I get back in, the money continues. New 3.70 rears, new Michelin XDN2's on the back, and front heater core and evaporator core.

There is confidence in knowing your truck well, and even more when investing in it.

 

One more tidbit. Working for yourself can be great, or terrible. The mindset that "you can do what you want, when you want", or "you're your own boss", while true, is detrimental.

While I'll not hesitate to tell someone to FO if they deserve it, I know that every customer is my boss, and I can be fired just as easy as any employee.

If you do this, brokers will likely be your customers, and the best way to get more work from your customers is do what you say, when you say, and don't make excuses.

I've been self employed since 2004, and wouldn't ever work again for someone else, but I drive myself harder than anybody else could.

Good luck

 

How many years experience,
Hazmat and tanker?
Experience on tanker/totes, hazardous materials hauling?
Find a Landstar fleet owner.
Some will sale truck to you and you drive for them.