Thinking about becoming o/o with challenger

Discussion in 'Canadian Truckers Forum' started by Neptune1231, Sep 24, 2020.

  1. mudflap77

    mudflap77 Medium Load Member

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    Oct 11, 2010
    South western Ontario
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    Not trying to sound to harsh but you need some business sense first.
    What is your purpose of buying a truck? To make more money!!
    Your dream truck (389 Pete) is going to cost you probably around $240,000 CND. About $40,000 more then a aerodynamic one. You might get a discount if challenger is still buying Pete's but that will probably be $1500 to $2500 and you would get that on a 579 also. My new truck numbers might be high because some companies are offering discounts and I haven't talk to anyone lately that has priced out a classic.
    Using liner's fuel cost your dream truck is going to cost you around $5,000 a year in fuel or 5 cpm. Figuring 6.25mpg for a 389 and 7.5 for an aero.
    On top of that you have the difference of $40,000 in purchase price to pay interest on.
    I love classic trucks but I would never own one as a O/O to make a living with. If I become semi retired and drive for entertainment and not income possibly I would.
    I'm not trying to discourage you. I am trying to adjust your thinking to think of it as a business first.
    If you have available the funds you claim, my suggestion would be to buy a used for your first one. You might just find out that you hate owning a truck and not having a monthly payment would give you more opinions.
     
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  3. kloria

    kloria Bobtail Member

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    Sep 25, 2020
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    challenger is good company, i would say go ahead.
     
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  4. BigHossVolvo

    BigHossVolvo Road Train Member

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    Dec 15, 2016
    Calgary, Alberta
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    My Man, that's some reality right there.

    Listen dude, I'm an O/O with a new truck, that started at a company similar to Challenger. If they don't slip seat your truck, and you like what you're doing, don't mess it up going O/O right now.

    Our Dollar is shot, fuel is cheap right now but could spike, and come Nov 3rd everything could stop dead. Also if it slows down, company trucks always get fed first, just how it is.

    I went O/O, to get away from Sharing Company Trucks, and to avoid parking at the Terminal. I also wanted to run my truck my way, and not deal with the "maintenance Department". I didn't do it to make more money.
     
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  5. Neptune1231

    Neptune1231 Bobtail Member

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    Jan 2, 2019
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    Thanks for all the info guys. To me, being an o/o is not only about making more money. (Is important though) but I just want to have more joy in this job.

    Even if I make the same as I do now or a little more but with a really nice truck that's set up the way I want it. I would be happy with that.

    I drive a 2016 crapliner that pisses me off everyday currently.

    Im just worried about failing and losing all my savings on this venture.

    I'm still thinking about it but I'll probably pull the trigger eventually.
     
  6. upnorthwpg

    upnorthwpg Road Train Member

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    Sep 23, 2011
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    You think you will have more joy???? Nope.
     
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  7. sirjeff

    sirjeff Medium Load Member

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    Dec 1, 2013
    Kelowna, BC
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    Op: I wont try to talk you out of truck ownership.... but 1.30 a mile even if it includes insurance, trailer, other fees, isn't enough to get ahead OR replace aging equipment down the road. I totally understand the being happy with just having something set up the way you like it, thats what got me into it. It can be brand new with a warranty out the butt, but you will not be able to pay yourself a steady wage and "absorb" any downtime. One blown tire and youre not profitable that week. Its just not enough.

    Shoot for the stars man, there's way more money in trucking than that. You deserve to make more since you're the one sticking your neck out. Otherwise you're buying a job and will be a slave to that truck.
     
    Last edited: Oct 4, 2020
  8. Elroythekid

    Elroythekid Road Train Member

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    Sep 9, 2010
    Halifax Nova Scotia
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    Put that 100k into a retirement plan IMMEDIATELY!!!! At 26 it's time to start thinking about your exit strategy.
    Look around for a 12-15 glider kit and finance it thru an equipment leasing company, so you control situation and the truck cant be pulled out from under you.
    DONT USE THAT 100K FOR THE TRUCK! Use 10 for down payment. Find a good investment person and a good accountant. Both will tell you to use somebody else's mo ey and invest yours.
     
    mudflap77 Thanks this.
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