operating capital

I carry $4,000.00 with me for fuel and misc. expenses...

We have a local factoring deal here in town that many of the local guys use... so far I have not heard anything bad about them.

Quick pay is another way to get paid when you need $$$...

 

$4,000 in cash? Please post picture of yourself and location. Just kidding.

Some banks will do factoring, we used our local bank one time for factoring to get started.

 

pay no attention to the fat man in the ski mask and gun creeping out of the freightliner parked next to you

 

My son carries more than that... I didn't have any kind of fuel card or credit card for the first 30 years or so of driving. Always paid cash for fuel and repairs... you just have to have a 3/8" grade 70 chain on the wallet...

 

Hey everyone. Contact England for their card. You can fund it with CC, comcheck, checking account, just about anything - FOR FREE - and you get cash price plus discount. No need to carry cash and pump start.

 

If you head out like I do for 5 weeks at a time your going to need about $11,000 just in fuel money.

I had to save up about $25,000 in cash to pay for my fuel and personal bills while waiting up to 45 days to get paid for the first load I hauled 5 weeks prior.

Keep in mind that you head out on lets say Jan 1st for a 3,000 mile run. You deliver on Jan 8th. You mail the invoice on Jan 9th. Gets to broker on Jan 12th. They send check on Feb 13th. You get check on Feb 16th. Check clears on Feb 18th. And that's best case which really never works out that way.

So, you either need a large amount of cash or a credit card with a healthy limit.

 

And my wife say I AM hopelessly lost in the 70's LMAO!! I to always(used to) carried a lot of cash--especially since that weekend in '77--spent memorial day in lockup in Lawrencville Va--for 68 in 55--back before any reciprocity--fine was $250--I had bout $85 LOL--course that $85 would get me home back then,,,,,
But even I have a check card--so I have access to all I need--and don't carry alot--or might have been once the kids figured out where all my hidin spots were LOL

 

Tonher - the waiting can be an issue. One thing to keep in the front of your mind. That factoring is costing your 40-60% APR. So work as hard as you can to go to recourse then no factoring.

Best of luck and be safe (and extra safe when passing green Volvo's)

 

I wish you luck. It takes a ton of cash to keep a truck running. I started out with about $20k for operating money annvesting in a scannerd there are times when it gets pretty skinny when you're waiting on checks to come in. Not to mention breakdowns and the "stuff happens" factor. I do haul for CH once in a while when the rates work because they pay fast and only take 1.5%. Not sure if you have done so but I'd suggest investing in a laptop and printer,fax,scanner combo. Alot of people will pay off e-mailed copies of bills with an invoice. It's really no different than transflo which the big companies use.