The Process Of Becoming A O/O?

Discussion in 'Ask An Owner Operator' started by geauxjoe, Feb 5, 2011.

  1. geauxjoe

    geauxjoe Bobtail Member

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    Dec 26, 2010
    New London,North Carolina
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    Yes I am new to this and I am searching every know place to search out a good company to lease on with. My question is once I decide where I am going to go I will need to purchase a truck and I need to know what all I will need purchase as highway tax , dot # and my llc # , open a bank account under the new buisness name? I am not sure what I need to do first and about an estimate on the cost of each? Please if you have a list in order on what I need to do first once I get leased on to a company and have them send me a letter of intent. Thanks for any information on this!!!!:Driver:
     
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  3. Big John

    Big John Road Train Member

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    Have money in the bank and a business plan for starters before you buy a truck. If you find a company that you want to lease to then see what they will pay for. Some pay for your base plate and some don't.

    Do a search this topic has been talked about a lot on here. Learn from others mistakes.

    If you ever find a truck before buying it spend some money and have it checked out, run the truck and engine serial number and see what comes up. Do not take the dealer or salesman's word for it because they are full of BS.
     
  4. Lilbit

    Lilbit Road Train Member

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    Here's a thread that should help you out some. Doesn't cover absolutely everything, but should be a good starting point for you.

    Becoming an Owner Operator - The steps, forms and info

    Another thing to keep in mind is some of your stuff may change depending on the company you lease on with. Each company has their own way of doing things.
     
    Strider Thanks this.
  5. geauxjoe

    geauxjoe Bobtail Member

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    Dec 26, 2010
    New London,North Carolina
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    Thanks for all the information and I have $10,000 set aside for this. I have $5,000 for a down payment on a truck and $5,000 to leave in my account for emergency maintenance if any. Thanks again
     
  6. blackw900

    blackw900 The Grandfather of Flatbed

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    Try the search function and read the 45,000,000 previous threads that answered these same questions...
     
  7. Hanadarko

    Hanadarko Independent Owner/Operator

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    Oct 1, 2009
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    Perhaps you missed this?

    There is a sticky totally dedicated to this very question at the top of the this O/O forum.
    It is the 5th question. It couldn't be more full of advice if it had to be.
    There are MANY MANY fees and costs no one ever considers. All of these are outlined
    in that sticky thread.

    :biggrin_25520:

    By the way...$5,000 for a maintenance fund. Really think that's enough...??
     
  8. Big John

    Big John Road Train Member

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    Sometimes $5,000 isn't enough in the entertainment fund. :biggrin_2559:
     
  9. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Jul 30, 2009
    Lexington NC
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    What $5.000 if he take $5,000 from the $10,000 for truck down payment that leaves him with $-3,000.00 because that other $5,000 will go just as fast, 2290, insurance, fuel, tags, and the list goes on. You need about $10,000 after you have gotten the truck
     
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