So you want to hot-shot? (Will be updated/edited frequently)

Sorry I didn’t respond earlier. Been real busy.

I completely understand why people lease to companies. I’ve been in trucking for approx 37 years myself. I have had several friends go the lease on route over the years and lose their equipment, even their homes in the process. From the outside looking in, it may seem like a viable option but the reality of it is, most people who lease on fail.

Yeah, today most independent owner operators use factoring companies and get their pay minus 2% within 24 to 48 hours. That makes it huge difference in the start up process.

What most new guys looking into trucking don’t realize is, even in a lease they're paying for everything that a independent is paying for. The lease owner operator is giving up a lot more than he even realizes.

 

If I understand correctly, this biggest difference in monthly expenses is the carrier typically pays for the lease owner operator's commercial insurance. Right? Which may be $1500 - $2500/month. So if a guy is averaging $15k gross income per month, and giving 30% to lease on, then that person is giving up $2000 - $3000/month, while putting the same amount of driving time, miles, wear and tear on equipment, etc that he would running as an independent owner operator.

 

A company that you’d lease to doesn’t pay for your insurance. They subtract that and everything other expense of owning and operating a truck from the income your truck produces. And then they also take 25 to 30 percent on top of it for their cut. Trust me when I say, you won’t be getting anything for free in a lease. The insurance through them could be a little less expensive because they might be getting a multiple truck discount? Will they be passing that discount to you? Maybe, maybe not. Basically companies that lease owner operators on are financing their start up so that they can get on the road. In return, they get a big chunk of the money your truck produces. It’s like taking a loan with a crazy high interest rate.

I’m not saying that companies that lease owner operator on don’t earn the money they ask for. I’m just saying that there isnt enough income in one truck for the owner operator to get ahead when giving up what they’re requiring. A owner operator is much better off saving up to become a Independent right out of the gate.

 

The rates in hotshot have gotten to the point you can't make any money. To many people in it doing it for dirt cheap.

 

Just need to outlast them for a little while. Classifieds are filling up with hotshot rigs the last couple of months.

 

Oversized and hazmat loads make the rest of the crap worth it

 

Fuel keeps climbing I'll find a great deal on another trailer. Just run for what ya need not what they want to pay. We just got undercut on a customer in Jan, were back hauling for them in Feb at our price Like 24KHotShot said just out last them

 

I hope you guys won't kill me for this opinion but...
I don't see the big fuss over fuel prices in this line of work. The difference is negligible.
This is not to say I wouldn't like to pay less of course but the bellyaching over fuel price is echoed everywhere when there are other financial worries to worry about makes fuel price a minor issue.

$3.50 a gallon at 10 mpg = $0.35 a mile. $350 per 1000 mile
$3.50 a gallon at 5 mpg = $0.70 a mile. $700 per 1000 mile

$4.00 a gallon at 10 mpg = $0.40 a mile. $400 per 1000 mile
$4.00 a gallon at 5 mpg = $0.80 a mile. $800 per 1000 mile

As a hotshot you shouldn't be moving for less than $2 a mile. $50-100 per every $2000 you make shouldn't break you. And if you are burning 0.5 mpg you should be earning a lot more than $2 a mile which makes fuel cost even lower percentage wise.
Again, it would be nice to keep that money in your pocket but I won't go hungry without it, I can get any broker to add $50-100 to almost every load.

Also its money spent only while you are earning money!
Everything else costs you money even when you are not moving!

Driving in the north east I worry about toll pricing more than fuel cost!

 

Can someone confirm if its required to have the DOT and or MC on a gooseneck. I'm a hotshot setup, Ram3500 with DOT and MC displayed on the power unit. I've seen some hotshots around with this info on the neck of their trailers and wondering if I'm missing something.

Trailer registration. I just got my tag today and the clerk told me that permanent tags are for 53 footers. I have a feeling she wasn't certain. She said my trailer weighing in at 4500 (not GVWR, which is 15k) didn't need it. Did I pay for the wrong thing? I do have an apportioned tag on my truck.

Thanks.

 

Never seen DOT/MC numbers on the trailer. As far as I know the numbers have to be on the power unit.

I didn't get permanent tags on my trailer either, just a regular trailer plate and my trailer was around 9500 lbs tare weight (24k lbs gvwr)