Hello everyone. I’m here to ask questions and not be bashed or put down on like I’ve seen on some facebooks post.
I have had a class a cdl since November 2023. I haven’t been with a “big company” yet. Only pulled equipment for a company I was working for. That being said, I had some questions from real life experiences. I understand the market is not what it used to be but I’m ready to be done with hauling equipment to the plants for shutdowns and working the shutdowns to and get out on my own. Hopefully I can move by the spring of 2025.
1. How does one finance these high dollar trucks/trailers? Monetary requirements for this?
2. How is the insurance price for a new authority etc.?
3. Advice on tackling the future in this industry (other than to “stay out of it”)
New CDL
Discussion in 'Ask An Owner Operator' started by JAB!, Jun 30, 2024.
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Let me tag the most knowledgeable ones. They will give you appropriate advice and ask the right questions.
@Ridgeline @Midwest Trucker @Long FLD
There's other members that have been owners for a while now and they'll chime in but they're the first ones that came to mind -
Hello and welcome aboard. Buying Class 8 equipment will require excellant credit score (FICO) and a very big piggy bank. I.m not up on current prices, but but a new class 8 (3 axle sleeper) will be about $150 K. And a new trailer 40 grandish. Regardless, you can go used, anywhere from 1 yr old to 10 years old. The best advice is get some highway time with a carrier at least a year. This is to see if you feel the same about trucking as you do now. The days are long, and it's the same day after day after day. Dealing with traffic, dispatchers, security guards, police agencies, lumpers, pretty ladies behind the plexy glass at your delivery, shop mechanics, (these are people barking orders at you !) And you thought trucking was freedom ! ! Well, kinda' is.
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New CDL / New Authority is the worst possible of all cases to insure. You'll likely see $50K or more insurance cost alone.
By comparison, an established company with a well qualified driver would pay about 15% of that.
New truck / dry van is going to be $225K, minimum. Financing options are few and far between for new entrants.
Advice: learn on someone else's dime for two years, at least.TX2Day Thanks this. -
Everyone wants their own authority. This is why freight rates are what they are. Shippers and brokers use up these guys because they think they’re making big bucks. Allah logistic. Big dog playin it LLC. Michael Jacob Trucking LLC. On and on.
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