Thinking of going O/O

You forgot to mention insurance.

ETA: You mentioned it. I just overlooked it.

 

...so from that $85.90 that you THINK you are ahead:

how much is going towards your health insurance vs. the company driver?

how much is going towards your retirement vs. the employer match for the company driver?

You say your truck is paid off. Are you going to keep running it forever or do you plan on replacing it someday? How much are you setting aside in order to be able to replace your truck when it no longer is practical to keep on the road?


It really doesn't seem like you are doing as well as you think you are.

 

There's another thing about these "company" leases I am seeing... They're NOT A LEASE PURCHASE just a LEASE.. You never get to keep the truck, you just "fleece" it from the company for a year.. and at the end you turn it in... You gain NO equity and have all the responcibilities of a O/O.. The ONLY advantage is you can turn down loads as a O/O that as a co. driver you had to take..

This is what scares me, they are offering this to a LOT of new guys right out of school.. Swift isn't the only one to do this type of lease.. Steven's Transport is doing it too! With guys with 3-4 months experiance right out of school!! AND they're using HIGH PRESSURE SALES TECHNIQUES" to sell it.. like calling you every day 2 & 4 times a day trying to "talk you into it"... WTF!!

 

Hey ajs1975. Dont let everyone discourage you. I plan on only driving for 1 year w a big company to get my experience and then buy my own truck. From what i have learned so far i wouldnt lease anything. I have talked w a few O/O and i think just getting started you should look for an older truck thats had a major overhaul and has receipts to go with it and is clean of course have it checked out. You dont need to spend 75 grand on a truck. Buy a 20 grand truck you can pay it off quicker and have smaller payments. I dont know if you can turn a wrench but if you can replace bolt on things and do the service on the truck you can save yourself alot of money. I have heard you need to always have 10 grand on hand for repairs at all times.

I am waiting to hear back from 2 big companies on Mon about training in the next few weeks. With all the homework i have done about becoming a OTR driver i am already building relationships with contacts for loads when i do get my own authority. I didn't realize until recently a friend of mines uncle is a driver. I found out by telling my buddy i was thinking about driving a truck for a living one evening. He talked to his aunt and she has offered to find me loads because she already finds his and has been so for 13 years. I dont mind sending her a small check every month for helping me out especially if they are good loads. Talk to as many people as you can about trucking you never know who may be able to help you. You need a business plan and you need to stick with it.

It sounds like freight has picked up some from what some people are saying. I hear of $2.50 a mile loads and better now! Good Luck in what ever you choose. I'm not even a driver yet so dont listen to me. Do your homework. I'm just saying. Good Luck!

 

Wll, I'm making the transition from company to o/o, did my home work, will NOT, NEVER, EVER lease from a company. chk boards like this, or just google the companies that lease and you'll see why. I got lucky enough to find an o/o only company that hooked me up with getting my truck through freightliner. my credit sucks, the trucks a 2005, 500kmiles, has 2 yr warranty, was a JB Hunt fleet trade. BUT, the notes in my name, paid in 2 yrs, and hopefully with a little luck and gods good graces, I'll be one of the fortunate ones to succeed. If I fall on my face, then I'll go back company.

But again, DON'T LEASE from company.

 

My feeling is you would be better off doing your time with Swift, get your year in and then move on to a better paying paying Co. Maybe lease on then and with better pay. I blew a tire on I 95 in N. C. a few weeks ago and it cost me just about $900.00 to have someone come out and put on a new steer, just an example of unexpected expenses.