Some numbers for new O/O

A very strong arguement could be made for that. A new glider with 40 down could be a very good route to go.


You also make a good point about buying a truck that's had 22 students wearing out the transmission gears. I would definately not buy a truck that started life at a training carrier.
Imo the best truck is the one you buy from an owner operator that bought new, ran it ten years and is retiring.

 

Your not very good with money are you?
7% is 7% or whatever the the interest rate is no mater what.
The bank would make the same amount of money on 230k at 7.75% no matter if it was a truck or house.
The longer the loan or mortgage the more they make no matter if its a truck or home.
The reason the don't loan money for 15 20 or 30 years on a truck is because the value of the truck goes down so rapidly. They have to get their money back BEFORE the truck is worth less than whats owed on it.
The house will be or should be worth what you paid for it in 30 years.
SOOO in 15 years on a 30 year loan and you quit paying they can repo the house and get there money back, they won't get no 115k (1/2 of loan) out of a truck 15 years old.

 

Well, that's the nice thing about choice and the ability to choose a path that an individual believes is in their best interest.

That's if they have the means to make it happen.

This industry is for better or for worse, relatively easy to get into as a pseudo owner operator.

Kind of like that song line from Dionee Warwick back in 1968, "put a hundred down and buy a car."

I've witnessed several guys crash and burn from buying older trucks, for varying reasons.

It was easier for them to get into them cost wise and the lure of making "big bucks" is just a temptation that many can't resist.

The fact is that a very HIGH % of these same guys could never afford or even qualify for a new truck if their lives depended on it anyways.

Thus, they go down the used truck path and encounter far more difficulties mechanically, and all that goes with it, than the average person ever encounters with a new truck in the first 3 to 5 years.

Before they even know what hits them, they're so far upside down, they can't recover.

Mind you, some do succeed at it and I commend them. However, it's a path that I won't go down.

My experience varies (on many different levels) from yours. That's okay because one size does not fit all.

Besides, where have you been lately? Fishing?

 

Actually no fishing. Red tide killed it this year. Just been busy with life.

And your are spot on about one size does not fit all. We are all different and what's best for one won't be best for another.

 

Again, we agree on many points. I think that it is foolish to lease or buy a truck before you have been driving for at least two years. There is SO MUCH to learn, not the least of which is learning if you can deal with the trucking life.

It is my personal opinion that new drivers should allow companies to pay for all their minor mistakes as they learn.

I have been seriously considering going o/o myself, with nearly 3 years as a company driver. I am still learning a lot, but I have also learned a lot.

The reason I am not going o/o is that I do not want a truck on my credit, even a well-used one, while I try to buy a small house. I am also working on a patent, which eats up a lot of my home time. And finally, I would prefer to buy my first truck with cash. These three things push back on my desire to own my own truck.

All that said, if a person new to trucking wants to buy new or almost new to get a longer warrantee with better coverage, it does have SOME benefits.

 

nah,u go hard or go home,based on what i read in here and people i know personally ,u wasting your time driving on w2,get freakin truck,call brokers and make 3 times more for your efforts.
What do you need to know aside backing up rig in docks ? Calling people and ask them to move their loads for $?
why the #### people need hometime in trucking bussiness,hustle couple years and quit driving put another young beast instead.i feel bad for procrastinating inside truck for 10 years doing same ####. 5/2 40hours .
No offense.just speaking my mind about this industry im thinking to get in(maybe not)

 

Ha ha ha. So its as simple as buying a truck and calling a couple brokers and instantly your income will triple. The grand wisdom of a young kid that knows absolutely nothing about the real world.

Guess all of us that have been doing this for decades never realized just how easy and simple it was.

 

That's really misleading as most people in that scenario CAN'T get credit to buy brand new equipment and don't have even the minimum downpayment needed.

Usually it's a forced thing for starters to buy what limited equipment they can... because they cannot buy everything they want.... Unless we're talking the idiocy of lease purchase....smh on that one.


The lack of business sense, business minded people is spot on!

Way way too many people get into trucking with horrendous lack of business skill or knowledge... Many with outrageous false beliefs about how things in business work. It's a prime recipe for failure every time!

 

Nothing wrong,..... actually if you are financially able, that can be a very wise decision to maintain overhead.

Most new or fairly new businesses can't afford that option, let alone find a bank to take that kind of risk on them so they are left with few options anyway.

Then we have the guys that could...BUT want to step one foot in the pool and not fully commit to the business.. I've seen that type as well.

 

Any update on how your business is going ?