Some numbers for new O/O

Right on, now you I get to start stacking that money , $15000 net is amazing

 

Unfortunately I don't get to STACK any money. I took out 28K to in-frame my engine a month ago, still putting that back, one penny at a time.

 

Here are some numbers for Spain doing Spain only routes

using the OP template

1 - never credit only cash, the legal amortization is 16%

2 - around 5000 a year depending how unlucky one gets

3 - same like 1

3-insurance about 2k year for truck, 700 for trailer, the insurance for the commodity depends on what you haul, for example total coverage is about 600 per year up to 250 000 total value for generic stuff that exclude glass, electronics, furniture and stuff like that

4 - around 3300 per month before taxes, 40k per year 1 months holiday + legal holiday days

5 - diesel about 4500 - 5000 litres of diesel per month and around 250-300 litters on adblue, the diesel tax is 0,331 + 0,048 + 21%vat depending on the price the cost changes atm that would be like 5k a month, the 0,048 is the healthcare tax and is 0% interest loan to the state this money is given back after 4-6months

6 - parking about 300

 

Thank you very very much. Do you know how much it costs to Operate a 2018 Freightliner with all the bells and whistles on Easter Island Please. I was hoping to be an O/O over there, not really interested in spain.

 

I gross well over 20K per month and here is how. I am going to break it down simple. Keep in mind, I am different in trucking. I came into it at age 48, just 3 years ago. I worked as a company driver for 1 year and literally at the 365 day mark, I quit and brought a brand new Kenny with cash. Now, I am fortunate enough to have had that kind of cash on hand, but I did. I paid the truck in cash. So, here are my earnings...
1. Year 1, company driver, 72,000 doing team OTR, dry van only
2. Year 2, Owner Operator With Own Authority. No lease, no company, 100% load board booking myself, and here were my numbers...
Costs- Maintenance Plan with first year warranty covered for a total of 2,000.
Tags, Fees, Passes, Permits, 4000. Fuel-60 thousand dollars.
Insurance- 28 thousand. TOTAL COSTS- 94 Thousand Dollars.
That's right, a new only 1 year experienced driver with a new truck, 28K for one year. I drove 120 thousand loaded miles which was exactly 40 weeks. I took 12 weeks off.
Revenue- 120 Thousand loaded/paid miles averaging 2.25 cents per mile paid me 270,000.
Final Gross PAY- 270,000-94,000=176 Thousand. I will pay taxes on 176K the Costs above are deductible. Now, what did I do to make that? I averaged 3,000 miles weekly by doing 2 things. I would take a long trip for anywhere from 2000 to 2200 and take a second trip from 800 to 1000 miles. It wasn't really that tough to do.
3. Year 3,
Costs- Warranty expired, I purchased a maintenance plan that's nearly all inclusive costing 18,000 bucks. Tires are 10,000 bucks. I get only the best. Tags, Taxes, Fees, Passes, Permits, 4000. Fuel, 60,000. Insurance, 22,000. Came down some as truck aged and my experienced went up. So, total costs were 114,000.
Revenue- 120 Thousand loaded/paid miles averaging 2.51 cents per mile= 301K.
Final Pay- 301K-114K=187 K. The 187K I will pay taxes on, the rest above in costs are deductible.
In year 3, I again took 12 weeks off. I finished my 3rd year 1 month ago. What I have done both years is save 24,000 dollars per year and put it into a mutual fund. If I do this for 6 years, I will likely have 200 K saved if I get a 6.5% average return per year, and in 6 years, my truck will have 800 Kish miles and I can easily get a new truck with the trade in. . This means, in year 2, I am actually making about 150,000 and in year 3, making 163,000 when considering I am putting back 24,000 per year. This is excellent money and again, I am actually not working terrible hard.

 

My attempt at comedy failed in my post. I am really not interested because it is too late for me to go into business as an O/O. Thank you though.

 

In year 4, with rates as high as they are and likely will be until late fall, my year will look something like this as an OO with own authority and truck completely paid for....
Driving Miles 120,000 in 40 weeks and off for 12 weeks.
Costs- 112K Total. Maintenance- 20K, Tires, 10K, Tags, Taxes, Fees, Permits-5K, Fuel, 60K, Insurance-17K for a Total of 112K
Revenue- 120K loaded/paid miles x 262 cents per gallon average. I am averaging 2.98 so far this year, but I'm anticipating the rates to plummet to around 2 dollars per mile come October and to continue to March of 2022. So, 2.62x120,000=314,000
Final Profit- 314K-112K-=202 thousand. 202 Thousand is what I will pay taxes on as the costs above are deductible. Lets say my total state and federal taxes total 30 percent. It means I will take home, in my pocket, the money after all taxes are paid, approximately 140,000 dollars for the year, or to break it down monthly, just under 12,000 per month in my pockets. Once again, I put pack 24 thousand per year to save for the next truck to be able to pay it off in cash, so I am actually puting about 9,500 dollars every month in my pocket. This is after all taxes, all expenses, everything, 9,500 dollars per month with 3 months off per year.; however, the 9,500 per month comes in my pocket all 12 months, which includes the 3 months I take off.

 

@HokieBlueBalls Im glad you joined the forum. Well done. I don’t necessarily agree with your year 4 thoughts but I’m confident your results will be what you think they are regardless.

 

Lets say the rates plummet to 1.80 for an entire year. What would I make? Could i stay afloat as an OO? Yes,
Will drive 120,000 miles over 40 weeks, and have 12 weeks off. Here goes,
Total Costs are 111,000. Maintenance, 20 K, Tires, 10 K, Insurance 16 K, Gas 60 K Tags/insurance/Tax/Fees 5,000
Total Revenue is 120,000 miles x 1.80= 216 K.
Final Pay is 105 K, but again, I put back 24 K per year for a new truck every 6 years, so I am making about 80 K per year hear. Paying taxes on that leaves about 60 K, or 5,000 per month in my pocket. So yes, if the rates go to 1,80 and stay there, I can be just fine. It's not preferrable or comfortable, but I can stay in business. One thing I could do to offset the low rate of 1.80 average per mile is to run for 46 weeks instead of my usual 40 weeks per years. It sucks but that would basically put 6,500 bucks per month after all taxes and everything in my pocket instead of 5,000. So, there is some cushion. If rates get to 1.50 on average an stay there, well, we would all be in trouble.

My point is this folks There is a lot to be said about having your truck paid for. I am flat out lucky, plain and simple to have this option. But when you are paying out money for a truck, it's killing our take home. It's more beneficial to purchase an old truck if you can't afford one, and especially do it when rate are high and are going to be high for while when you break in to OO with own authority if going that route. This way, you can absorb the unforseen maintance cost or breakdown of the truck. The high spot rates will absorb, easily offset your maintenance costs for that one year which will allow you to be that much closer to having enough money for a new truck with cash.