Rates are crashing and fuel to the moon!

I'm trying to hang on until Thursday at least. My authority will be a year old then. Then come June 1st I'll have been driving for a year.

Be a bummer if I called it now being so close.

 

You gotta also remind us about the truck you drive and the mechanical skills you have.
Large mechanical breakdowns is usually the main reason to put o/o out of business. People like you are in a different position compare to the majority of new entrants, who don't have any skills besides driving an automatic truck for a mega carrier

 

Yes. I am willing and able. If not I'd have probably decided my money was better spent in other ways. Even with crazy rates of summer, the profit margin is a lot slimmer when payments and repairs are in your way.

Biggest thing is I don't buy things I can't afford. I had no idea what the rates were a year ago, so that had no play in my decision to do this.

If I'd have had to finance a truck to start, I'd never done it.

 

It depends on how much cash reserves they were able to stash prior to getting their numbers. Those who came to join the spot market from under a lease, are subjected to rude awakening too. 1.50 per mile + fuel surcharge might still be better than 2.50 per mile and fuel above $5 when you have to pay for all the additional 'own authority' overhead.

 

Add all the extra Liability, and aggravation involved. It’s a lot easier to just run a Truck.

 

I hope you're right.

 

You and me both. Not everybody banked a huge stash the past year. Life happens. But I'm up for the challenge and been through a slow time or two.

 

I run two trucks and one is booked out until Tuesday (than vacation so one less truck in the market lol) and the other until Wednesday. Volumes are still good but some trash rates out there. I would like to apologize to everyone as I did take a trash rate to Mississippi in order to pick-up my new trailer. It was delivering to the city my trailer was in and just had to do it.

I wanted to get rid of my old trailer ASAP and decided to trade it in to the dealer. I'm pretty sure my 2018 GD reefer lost $10K in value in just the past few weeks. I'm still getting 95% of what I paid for back in March 2018 and would have signed up for that when I bought it. I think there is going to be a bigger asset crash than even I expected.

 

I did it though. And i got a pretty high interest rate for a year before I refinanced. I'm still swimming...

 

The trouble with going broke in trucking is that it usually happens so gradually that a guy isn't really aware if he's not watching every nickel.
You turn around one day and your bank account doesn't cover your bills and there's nothing comin in.
It's kinda like bleeding to death from a paper cut.