Some numbers for new O/O

Don't take a load down south then. And like any other business in the world of being a human being, you have to develop your own relationships and run a business and stop acting like a truck driver. Maybe then you wouldn't have to deal with brokers. Brokers exist because there are a ton of drivers that have no business sense buying their trucks and expecting this special privileged and whining and complaining when this person gets a cut and that person gets a cut. They are doing your job. This is capitalism. If you don't want a broker taking half of your money, then get out there and grind and develop relationships and get your own accounts. The reality that most people refuse to face is that you will hear a thousand nos for every one yes, and most human beings don't have the persistence or work ethic to grind through all of that. So they just sit there whining and crying expecting something to change without changing their actions.

 

You'd think when The Lord rolled the 5th most powerful hurricane ever recorded up to the front door, they'd have recognized the signs.

 

What are you ranting about i have alot of contract loads. 90% of loads i pull are contract. My point is i see both sides of the fence when it comes to rates. I also see as everybody can qtrly earnings of these top brokers they are killing it. I pull a reefer i know what farmers are paying per truck load on produce its all public info. I also see what brokers are pushing those loads for way less than market rate by 50% . Drivers need to do theyre research instead of status quo.
Setting up your own contract loads isnt as easy as you think its hard to compete with the likes of CH Rob TQL that set up contracts and buy warehouse full of freight. Im fortunate to live in an area where the shippers takes care of theyre local drivers. I use the spot market back to contract freight. My brother works for Honda in OHIO they pay brokers huge bucks to fill theyre voids in shipping. Last month he paid TQL 10k to ship 5 engines from Canada to Marysville a 8hr run. Amazing . I bet TQL hustled that driver over 50bucks to. Just sayn.

 

My question is and always has been how on earth to you save enough money to not only buy a rig but have running money etc? I have driven nearly every type of trailer combination and load, been trucking 12 years. It’s my career goal to own my own but short of winning the lottery (I’d have to play first) I don’t see how it’s possible?

 

If you want to buy new, good luck making enough as a company driver to pay cash. Especially if you have a family to support.

Buying used is possible, but that will still take years if you want something with a little bit of warrantee on it to help if things go to crap.

Buying VERY used is much more possible **BUT** much more risky. If you aren't a decent diesel mechanic with your own tools to do most basic repairs, a very well-used truck will likely be a severe money pit.

TLDR: Paying cash for a truck is hard to manage, or risky.

EDIT: For some reason I thought you were asking about buying a truck outright with no loan. Buying a truck on credit isn't hard if you are thrifty and save a bit for a year or two. I had 22k in the bank after working for Shaffer for 1.75 years.

 

I did local at $18 hr. All strait time. Just bought truck 4 with 0 money down, 9% interest.

 

Saving the money is really pretty simple. Just takes more time and effort than most are willing to put in. Basically you just live like our grand parents did. Or if a young guy, like your great grand parents did. That generation knew how to save money because they lived through the great depression, you learned to live frugally or you died of starvation. Most people today do not have an income problem, they have a spending problem.

If a person makes 50k a year, there is no reason they can't have 30 or 40 thousand cash on hand in a few short years. And if they aren't making 50k a year driving a truck they need to switch to a decent carrier.

 

So how much did you have saved before you got a loan for your first truck?