I live in NY, I presently run for a company doing, pier, local, regional and over the road, so I cover everything. We haul containers, dry van and refer. I'm tired of making money for other people. Plus I HATE THE PIERS. I run 2,500-3,000 miles a week. I get paid an hourly rate and overtime after 50, I do 70 hours a week. I bring home anywhere from 1000-1200 a week. I have been toying with buying my own truck. I located several under $20,000.00. My son is a diesel mechanic for Freightliner and repairs aren't an issue. I owned my own truck in the early 90s and had a driver. I gave it up do to brake downs on the truck. Now since I will be doing the driving I'm considering it again. I'm retired from NYC and have a pension and benefits so that's not an issue. Just want to make some $$, I'm recently divorced and she cleaned my clock. Back then we got paid $1.05 a mile loaded, empty. which was good since fuel was cheap. So I guess my question is do I lease on to a company or do my own thing. If I lease on who is the better companies and what are the truck requirements. If I do my own thing how hard is it to locate work and back hauls and who are good brokers to hook up with. The trucks I'm looking at are older but in great shape with loads of new parts. Looking for any help and advice. Also since it has been a long time I don't recall where to start after purchasing the truck. I was thinking to go with OOIDA. Are there brokers or businesses that take care of everything you need.....ie Insurance, IFTA, registration, MC #, DOT# etc...
IMHO in your position and you're in a very good situation, you could buy your own truck and lease onto a carrier so they can keep you busy and get you the loads. Then if you wish you can flip over to your own authority, in time. Flatbed, chemicals/tanker and heavy haul are the top earners. i haul chemicals as an O/O leased onto a co, and get paid by revenue/percentage, + FSC, so I make a decent living. In my case for instance it would not be beneficial to be paid by the mile. It's really up to you and what you fancy doing. I'm not really sure about rates and what you'll get paid with reefer, but I'm sure others will let you know. Good luck
Go for it man. I too consider going O/O since like you the finances are not as big a deal as a lot of truckers who need to save every penny which are the ones who seem to hate it the most. My big goal is to greatly increase my investment income and just have a truck for when I want to go out and drive across the country mainly for the enjoyment of it, and come back home to my other job. I could do that now but would like to have so much income that I could easily pay cash for any problem that comes along such as expensive breakdowns without having to drive full time.
While I can't help you on the "business" end( out of the loop too long) as far as the truck goes, if it was me, I'd go with the oldest truck you can get away with.Fuel mileage doesn't seem to be a big difference, as I routinely got 6 with my old trucks(what is it now, 7-8?) Most companies seem to be relaxing their rules on "newer" trucks only, and only require they pass an inspection. I, like you, had my own trucks in the '90's and did all my own work, and saved a ton of money. New trucks just scare the heck out of me, and dealers gouging you while you are away, can break you in a hurry. Good luck
