Three years of own authority costs combined.

Discussion in 'Ask An Owner Operator' started by TallJoe, Dec 25, 2019.

  1. 062

    062 Road Train Member

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    The two biggest things with ltl is finding drivers that want to do it, and scheduling the stops. If I could find a good driver that wanted to do ltl reefer. I would add a truck tomorrow.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    As far as maintenance related costs, I just finished up the year, so I have a running 4 year average of my costs overall.

    This snapshot doesn't include fuel, insurance or payments on the truck & trailer for the 4 year year period. I bought my Volvo 670 truck new in December 2015 and the Utility trailer new in Spring of 2016.

    The trailer is paid off and the truck should be paid off by the end of 2020, I'm hoping anyways ;-)

    My lifetime fuel economy is decent at 7.2 mpg. My insurance premium average over 4 years is roughly $7,400 a year for the truck, trailer & cargo insurance.

    Lifetime Maintenance Costs.png
     
  4. Scooter Jones

    Scooter Jones Road Train Member

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    I would say (for me anyways) buying new when I did at 5.5% interest has been a benefit for me.

    There were some bigger ticket items covered under warranty these past 4 years. Other than the I-Shift transmission which is "warrantied" (supposedly) to 750k miles, everything else will pretty much be out of warranty after the first of the year.

    An aftermarket warranty is out of the question...

    I'll see how it goes this upcoming year and decide if I'm going to run the truck 'til the wheels fall off or buy another one new. I've taken good care of the truck, however, there is a line that once crossed, and a thing called the law of thermodynamics, that will play a big part in what I will do.
     
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  5. stayinback

    stayinback Road Train Member

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    Well,If your up there in Palatine,Arlington Heights,Buffalo Grove with no Mortgage- Your a step above most- (Your still paying 8-15k per year in taxes though).....Unless your living free with family- Its not cheap up there.....

    Rolling Meadows and Lake Zurich Evict White picket fence families EVERYDAY See grown husbamd/Wife Cry with their Kids while awaiting their Rich coharts to pick them up with their belongings.- Just too much to be up there unless 2 incomes hit 150k per year.
     
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  6. TallJoe

    TallJoe Road Train Member

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    You almost pin pointed my address lol.
    I am paying close to 9k. I hired again that Shapiro guy to appeal the assessment. But to me it feels like another scam...as soon as they lower assessment they will increase the tax base. And the game starts all over. The property taxes doubled in the last 10 - 12 years.
    I keep saying to my wife that we need 150k combined income to live worryless here. And we are...as long as I dont see a crack in foundation or roof leaking...Anyhow, I feel like we pissing 5 grand too much on those Cook County Crooks evey year. I would not mind moving up to Pleasant Prairie, WI or Madison, WI but it's not all up to me...at least as long as I stay OTR.
     
  7. TallJoe

    TallJoe Road Train Member

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    Your 4 years of maintenance costs are 3/5 of mine in the last 3 years. I am sure your overall profit looks heavens better than mine too, despite your loan installments. Have you established direct customers or you also work with loadboards, taking random loads? I am trying to figure out how to secure steady and reasonable revenue source so that the equipment indeed pays for itself, even brand new, and by the time it is paid for, you can comfortably go get another one.
     
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  8. Scooter Jones

    Scooter Jones Road Train Member

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    No direct customers. Hard to do when one has no capacity to offer. Besides, the way I take time off I'm afraid I couldn't keep a direct customer happy with me LOL.

    Not sure about having much equity in truck for trade even after it's paid off. As you know, the new and used truck market has taken a dump again.
     
  9. Rideandrepair

    Rideandrepair Road Train Member

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    Equipment prices are always so unstable. There’s no good way out of any vehicle, that I’ve seen, short of paying a new one off in 3 yrs. And buying new again. Still costs a lot. It seems to be more luck than anything. Getting out of one, before major repairs, used to be easier. The new Trucks really make it unpredictable. Best you can do is go for fuel economy, hope for the best.
     
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  10. Afarinnatar

    Afarinnatar Bobtail Member

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    About every single carrier seems to buy new and replace at around 350,000 miles. There must be a calculated thesis behind this for financial reasons.

    Fuel economy is most important because it's your biggest cost along with your wages. I don't understand how people get 6-7mpg and act as if it's a good number. Slow down and trip plan.
     
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  11. Rideandrepair

    Rideandrepair Road Train Member

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    All I can say, Joe, is I’m in the same boat. This Job should pay 35%-50% more than it does, for O/Os and Drivers alike.$75k a year pay to myself, whether I work or not. The only reason it works is because I do the work. These are lean times, it will get better, sporadically, But I’ve seen your numbers before, and you operate about the same way I do. Like Scooter said, I don’t want the customers, but they’re out there. Not the best paying, big outfits, but there’s a few places that will sign up anyone. Have to look for the loads posted, that have everyone and there brother posting. Brokers always changing. These are the Shippers that are easy to set up with Direct. Same loads posted, so you know who the Shipper is, always different Brokers though, Ones that are using the Shipper to fill in for their other slow freight, or a lost Customer. Study the board, I tried for years on 1 Customer, they eventually called Me. I decided I didn’t want them. Too much hassle, for an occasional load.
     
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