The cost of becomming and Owner Operator.

Oh wow! Thank you for your input.

 

Now I'm curious because obviously there are things I don't know....what is umbrella?

 

Right here my friend
We got ours on sale tho but a write of is a write off!

 

Lmao! Hey one of them Benjamin's for that umbrella with the house included would be well worth it!

 

Nice set up btw

 

Extra insurance up to 5,000,000 for certain jobs.

 

Dang it!!!

I wasn’t even close!!

For the record. I did know. We had that term in many other business deals

 

In the end your friend is more likely to take lease purchase route.

 

I'm getting Ready to go O/O fulltime and Incorporated my company in April. After looking for a truck since February and emailing over 35 on Market book (even for a used truck after a while..) no one had any and they were all sold out. I finally went to Peterbilt and was able to establish a new 2023 that should be ready near the end of July (works out for me) only because I have believe on giving my current company notice after over 2 decades there even though they treat me like crap. My credit score is 800 but I still put $5k down. Having savings is a necessity in Trucking especially for Insurance, cargo insurance, fuel (crazy outrageous prices that never seem to be lowering anytime soon) etc. I have an additional $35k in savings for my business budget plus I can cash out some stocks & bond fund in a worse case scenario (additional $40k)..Quick pay payment IMO is a necessity (waiting anymore than 48 hrs becomes a issue when starting off) so..emergency money is needed.

 

You are just starting out and you got a brand new truck in this market with only 5 k down . Why just why ?