Should I buy my own truck?

I really appreciate the feedback. On insurance, I do have an account with USAA, I have no IDEA how much it would cost me to insure a truck. From what I hear though it wouldn't be cheap.
I have been looking into TONS of information about O/O.. But like in the army, first hand experience is alot better than words in a book or online. Maybe if I work for a company like you stated for a year or 2 with my own set up, then go solo on my own?
I have done countless hours of research just driving for a company and using their equipment.. The gig sounds solid and that is where the experience will fall into place. I was just wondering if this could be done from scratch.. I'm a jump into kinda person. I get a solid plan, make another plan (just incase) then dive in.. I'm loving the feedback though.. Keep er' coming.
Well back to dust storms and slow internet

 

Irishman,You asked a couple of questions and I'll try to answer them.
1.When did do the lease purchase?1980.I was 22 years old.
2.Did I have a CDL? No.I had the equivalent at the time,a chauffeurs license.
3.Did I have any experience with OTR? No.The only experience I had was transfering trucks and tractors for Ryder.Also some training at a small truck driving school.

Yes,I do know this was all 28 years ago,job reqiurements,rules and regulations have changed.It is alot more complicated than it was back then. I do still think it's possible for someone, even at 21 years old,to buy a tractor and find a lease.It may not be with a major OTR carrier but there is work with some smaller outfits even close to my home.Example.A neighbor of mine moved to the states from Europe.He had no verifiable experience.He obtained his CDL.Purchased a used tractor from a dealer and found work hauling containers off the piers down in New Jersey.It pays good and he's home most nights.Nobody ever asked about his experience.The only thing they wanted to see was that his tractor was roadworthy and his paperwork was in order.Up the road from me there is an LTL carrier that uses o/op's.Same thing with them,if you have a good tractor and clean CDL they will sign you on.

 

Witch.........thanks for your reply.

The problem that I have encountered is that Insurance companies will not write a policy for a new CDL holder, without at least one year's experience otr.

If you happen to run into your friend, could I impose on you, to ask him where he got the insurance.

Thanks again

 

Irishman, call around with your local insurance writers and see who carrys or writes for Lloyds of London. They will insure anything. It may be a bit pricey for your first year but I am pretty certain you can get a start through them. The other carrier is progressive but they are very expensive and only give you a 500 mile radious of your home.

 

Thanks Engle.............I've sent off a few e-mails.........

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As I read the posts, I am seeing that this may be possible.. Expensive at first but quite doable... hmmm.. I'll have to do more research in the insurance department..

by the way, Baghdad, Iraq.... 99 degrees today.. IT'S ONLY APRIL

 

IC40OZ,I did some phone calls to USAA.As far as buying a tractor and insuring it,you won't have a problem.They have no restrictions on the age of the owner-operator.That's the good thing,the bad thing is,it will be expensive.Another thing will be if you only need bobtail insurance.This will cover your tractor when unhooked from the leased trailer,not when hooked to the leased trailer.In most cases when you lease on to a company your tractor and their trailer and load now are covered by their policy.Do find out before you sign a lease agreement what their policy is regarding what they cover.USAA does farm out its heavy truck insurance but they still will guide you through the process.The number is 8005318722 ext 77605.

 

Irishman,As far as my neighbors insurance company,I'll have to speak with him.I did post to IC40OZ about USAA.It does cover only armed services and their family members.They do farm out their heavy truck premiums.I do believe it's Progressive.Their open to the general public but with more costs and restrictions than going through USAA.

 

Witch........Thanks, the USAA does'nt work for me. But, if you get a chance to ask your neighbour, I'd really appreciate it.

All the best.


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Witch! You are the man! I appreciate your help tremendously. I will deff line something up with USAA and see if I can get something through there. I'm starting to get more and more involved and thinking about really doing this.. Any of you out there see this as a mistake? That is, buying a rig, brand new cdl, expensive insurance.. etc..
THANK YOU