should i switch from company to o/o

A first time owner will have a very difficult time with that payment. I've never met a truck owner that can honestly claim they never made money costing mistakes at first, hell I still make bone headed decisions almost twenty years after buying my first truck.
It's going to be a very steep learning curve, a cheap but dependable used truck with a low monthly payment will help you weather the storm while you learn a thing or two.
Unless you got another twenty five thousand after putting the down payment on that new truck, you are asking for trouble.

 

Two threads for you to read are from @double yellow and @blairandgretchen both bought used trucks for less than $15k but one went with his own numbers and the other leased to Landstar. If you have a couple weeks try reading both threads maybe a page or two per night

 

As a first time owner I will tell you that 2.5k note will be pricy/tough to deal with. That being that you don't know the price of loads. Do you have your own authority? Are you dispatching yourself? are you getting dispatched by previous company? What %$ of dispatch do they want?

I would buy a used truck with a payment of 1500 no more than 1700.

Also I'd probably look into 101 transport as a o/o if you don't buy a trailer with truck too.


With the truck and payment set up I assume you're wanting to buy from loan mountain leasing. They offer pre owned trucks too. Once you get some more experience and business goes well for you buy the truck you want and put someone else into the old one.

 

Ok here is what I think and nobody knows more than me except my wife whom knows everything. I see you live in Colorado. Therefore, you will never get home or you will be hauling freight so cheap you could not pay for a tonka truck.

 

A lonestar? why would you want that ugly uncomfortable piece of crap!! lol
The less debt you are carrying, the happier and less stressed guy you'll be...Theres a big quality of life issue here..Wait till you get a long week flu where you cant drive. much less move, or something like that..Big truck big payment big stress..

If you are a good enough bi-ped to save money, and have saved enough for downpayment, save a little more and buy a 50k truck instead of the 150k truck...So many routes to take...my point, "the least debt possible!!!!"

 

wow..how old are you?

 

Kolorado, I have a different take on used vs new trucks. I took the used truck advise three years ago, when everything was said and done, It cost $3400 a month for two years not counting lost revenue from down time.
The only thing that saved me was that new(expensive) truck... Lol. Good luck.