Some questions....help??

O/O would be the most foolish thing you could go into in this shaky economy. Health Ins. will kill you, you'll need bobtail ins. don't forget taxes and SS, a good accountant, they aren't cheap, truck repair is over $100/hr., plates, got to be $3-$5g's a year, and believe it or not, a million in insurance is what we had 20 years ago, that's where lawyers start today. Really, O/O's that are making it today, probably have dedicated accounts they've had for years, but for a new guy, failure is almost guaranteed, and heaven forbid if you kill or injure someone.. Drive someone else's, let them have the headaches, you go home free and clear..

 

Once in a while we like to tease. But this is a serious question and deserves a serious answer in plural.

Insurance premiums for you will be in five figures annually. A quick call to Geico of all places would get you a idea in a few minutes. Just be sure you are sitting down for this one.

You will pay some money to plate a truck in Arkansas. I don't have any idea of Oklahoma and other certain states where there are advantages to plating there. One plate matters over all others, the Gold Alaska one. =)

Health insurance for a family? Let's just keep your money and face the medical billing head on because you are going to have to pay 10,000 dollars deductable on everyone before each one gets insurance to pay on them. My 6000 deductable is essentially met (Medicare) for the year and whatever I do from here to Xmas is free. So it will be the time for me to fix what can be fixed when it really does not have to be fixed right away.

You will need someone to handle your mail in real time. Some of those letters are important letters that if you do not respond to in a timely manner will be big problems.

This industry is really bad to get into right now. The spot market is essentially below true cost. There is no money in it. Ive bought a tractor before and have a taste of whats all involved in it. Buying a tractor and getting loads are two separate problems.

Some on here has tried to warn you that the industry is in a bad place right now. You will do well to hold off, accumulate cash and wait a couple of years.

 

It's not all so glum, it can be done. When I bought mine, 2 things were imperative. 1st, it can't be a $189,000 dollar Peterbilt, there are so many good used trucks, bought from the owner who is throwing in the towel, and certain sectors of trucking are good, flatbed, I think is the best bet today for an O/O, and 2nd, you have to be able to work on it yourself and I mean the little stuff. I knew several O/O's that went under because of repairs alone. Remember, the less you have into it, the better it is when and if it goes south. And if there's a hiccup overseas, guess who pays for that at the pump. An immediate decrease in pay. It's a lot easier getting into it than getting out of it.

 

True, but the OP doesn't know this unless somebody tells him.
New people don't know how much they don't know. Shaming them and marginalizing them doesn't help anybody.

 

Hey, I'd rather give this person the facts than another silly "hair follicle" thread.

 

Your post was fine. It gave him information to work with.

 

Well Thanks for the replies that aren’t being smarta**es about it. I was just simply asking a couple of questions that pertain to the industry and I just thought the professionals here on this forum could shed light on the subject. I had asked a few questions on here before. I guess I should have added a few points to my question.
.Louisiana is where the work and myself are
.End dump and day cab is the equipment
(True it cant be a 200k rig) I’ve looked around online at some good used trucks and trailers)
. Route is local and up to 4-5 trips a day @ Around 50 miles one way weather depending
.would be owning truck and trailer and contracted through a company that I have been speaking with the owner that I know has a lot of work

X1heavy, my current deductible is 6k with private insurance. The reason I asked about insurance is that my wife works for a private organization that does not offer insurance. Insurance wouldn’t be a big deal if she changed jobs and I hoped on that insurance. Then it would be just the truck insurance I suppose I’d be dealing with.

Again, thank you all for your replies. I really appreciate anyone’s input!

 

if your spouse worked for a company that offered health insurance, they may require you to cover yourself.
as for the day cab, gosh any brand would do for what you describe. I would try and find one with a 'double channel frame', 13 or 18 speed transmission. if age is not a concern you should be able to get a decent unit for under $30,000. sounds like you need a 'work truck' nothing else, try and find one 'pre-regen' 'pre-def'.

 

as for your trailer, end dumps I dont have a clue

 

Is it seasonal work? Don't forget to budget for slowdowns.