New to trucking, just purchased my first truck, advice please?

3 weeks a month, 4 loads for 1000$
Assumimg 2000 miles a week. Getting paid 75 % of 4 k. fuel cost of 1 k a week.

Bam, 3k income a month less taxes assuming a 3k truck payment.

If youre paying 3k monthly, all that should need is oil changes more or less.

If you cant drive it yourself, that truck gets sold tomorrow, hell post a price here

 

I have to understand this better.

Who dispatches this truck? Do you look at every load before the truck moves and track its every movement? Who is keeping track of the miles to maintain the truck? Who is maintaining the truck? Is your ifta being filed every quarter? Is your 2290 and UCR up-to-date? Do you even know what that means?

Do you make a $100,000 investment and hand the keys over to somebody that takes off to God knows where, you have no idea where your truck is, no idea where your truck has been dispatched to, no idea where it's supposed to go to, no idea where it is going next, no idea when it's supposed to arrive there or when it should be leaving for the next load, no idea how much money you're supposed to be making or if it's even making money at all... until two months go by and you look in your bank account?

I'm trying to understand this better and if you honestly answer it will help, but I'm really curious about the above questions.

 

I have a question. In the first post you said you have your cdl. I another post you say this truck is costing you your monthly income from your job. Why don’t you quit your job. You yourself take your truck to another company and show your sister how it’s done? Seems she hasn’t the time for you, you in current position not making any money so go drive the truck yourself. This way you cut out an expense of a driver and you attach to a reputable company and go make yourself some money? To me that sounds like your best solution. If not sell the truck. Heck you may even be able to sell it for more than you bought it for with truck prices today.

 

How much would you sell the truck for?

 

I don't know how much you're grossing a month, but I can use context clues to maybe puzzle some of this out.

You can't quite cover fuel -
Fuel is a variable expense. The cost goes up with miles, but so does the pay.
For argument's sake, let's say you don't have a fuel card, and your driver is dropping fat stacks on fuel at a mega stop. Fuel is $400 per day. But it's only that much if you're turning say 650 miles per day. But let's just call it 600.

You can't cover the truck payment with the business revenue -
For argument's sake, let's say the truck is $3,000/month. That's $100 per day.

You can't cover the $500 per day. You can't even cover the $400. Let's just say you are bringing in $395 per day at your 55%. That means the truck is bringing in $718 gross per day.

But the thing is, fuel will only be that expensive if you're turning a lot of miles. If you're turning 600 per day, then the truck is averaging a whopping $1.20 per mile.

If that is the case, there's a couple things going on here. Feel free to chose which one fits.

1. Your sister books solely bottom feeder trash with Amazon.
2. Your sister is fine cutting throats, and hauling cheap freight.
3. Your sister is lying to you about the revenue. Personally, I think this is the answer. Your truck should be averaging THREE TIMES what it's making per mile right now. I believe anyone that would rake their own blood for 25% EVEN WHEN THEY KNOW THEY'RE STRUGGLING is more than capable of lying outright to them as well.


Now was I in the ballpark with any of this? Left field? Right field? Parking lot? Wrong zipcode?

 

Sell the truck to your sister and run.

 

Neither. The choice is to survive. I roll my eyes when people say "put family first". If you don't put your job first, then how TF are you putting your family first?? You can't eat hugs and kisses.