Update

You are going to have to do a great deal of research and be very very very careful what you buy.

I know very little about the new trucks I only deal with mechanical engines because the cost and the problems associated with electronics and emissions are outrageous.

There is someone on this forum that has a truck that is still under warranty and I believe he has spent $24,000 to date and the problem still is not fixed. He is certainly not alone.

I don't know how any of these guys survive or make money but if I were you I would be very very very careful what you choose. Some of these newer engines are Just Junk, some of them have incredible emissions problems, some of them are in the shop more than they are on the road.

Some of them are continually misdiagnosed, with repair bills growing and growing while insurance and payments are also growing and growing. Apparently even taking them to the dealer often does not work resulting in more down time more large bills etc etc etc.

And if you are a new owner operator check your insurance cost because that also can be outrageous. When I was shopping for insurance I thought my price was very high, and the lady said well I just signed someone last week for $26,000 a year. Yours could be the same, lower, or even higher.

Couple that with a high truck payment and colossal repair costs and that's a formula for going broke.

Not saying that's going to happen to you but be very very very careful what you buy.

 

If that company is really worth a ####, for every hour you spend happily shifting next to your trainer, you will be sitting deep in bookkeeping adding up today's fuel bill you burned and will be questioned on how you can reduce costs with that same trip tomorrow? They have to teach you what it costs for everything. And especially how much capitol is on hand should poor kitty burn two pistons somewhere on a mining road. Or god forbid splash 100 gallons of fuel through a ripped hose near DC creating a hazmat incident costs that are essentially meaningless vs what your entire business, assets and so forth contained within same to be all sold to satisfy that little whoops.

For every dollar you make you are going to be paying dear old dad... er Uncle Sam, then there are the state witholdings as well as medicare, social security tables to work on plus the maintaince of benefits and pensions or 401k etc etc etc etc.

Then there is the revenuer. Property taxes annual on the stuff you own. Plus the company. However big or small you are.

Finally but not last. When eyeballing all those used trucks... remember this. I worked truck sales in auction house as a crew boss #### near ten years and frankly found maybe 3 tractors that would be bought by myself in a heart beat. ALL of the others had big problems which is why they are there being dumped to auction. to cut losses.

 

Man, I'm not nearly as well versed in the O/O side of things like many of the guys and gals on here, but my ultimate goal when I got my CDL was to eventually buy my own truck. Over time I've done quite a bit of research, specifically over the last 2 years and I've narrowed down what kind of truck I "plan on buying" which is still a very "up in the air scenario" as I'm not too eager with the way the industry appears to be headed.

But in the end it all comes down to personal preference and what type of freight you'll be hauling etc. I made my decision after having the opportunity to drive several different makes and models of trucks over time. But that aside, one thing I will say which is just echoing Dino up there, be VERY careful when buying a truck. Not only that, but make sure this is what you REALLY want to do, and this company is really going to be the right fit. It's a long-shot landing a gig as a rookie that you'll actually keep, let alone trying to find your footing in the industry while at the same time learning the ropes as a new O/O. I see it's a friend of your grandfather, so I'm sure that probably makes you feel a bit more comfortable about the whole deal, but I know a few people that are buddies with my dad who I could probably sign on with tomorrow and do something similar, but I know it wouldn't be a good fit for how I like to run etc.

Before I buy a truck, I plan on knowing exactly where I'm going with it, how the company runs, what the atmosphere is like for the O/O's etc, I'm talking EVERY minute detail before I even think of buying a truck. Because the last thing I'd want to do, especially as a new driver like yourself, is to buy a truck, sign on with a company only to find out it's not the right fit, then you're stuck with a truck payment etc and scrambling to go somewhere else just to stay afloat. I'm not saying that it will be like that for you, because it can be done, but it will be an uphill battle. You say you're currently doing diesel mechanics at work, so if you're good at that, it will definitely help. Your "outdated" knowledge would lead me to believe you have some researching to do before pulling the trigger on anything, but that's just my opinion and I like to see people succeed, so don't take that the wrong way.

One last thing I will throw out there to give you something to ponder on is this, have you thought about KEEPING your current job as a diesel mechanic, buying a used truck and putting a driver in it? It might not be what you want to do, but if you think about it, you'd still have a regular income to cover your usual expenses, while at the same time having a truck generating revenue for you. You'll have to pay the driver obviously, but if you do your due diligence in research, resulting in the purchase of a quality truck, you can bank a lot of what that truck makes minus the regular expenses of the truck, and driver pay. Once you see that the truck is running well and you've saved x amount of $$$, call it quits at your daily job and move over into the truck, or hell, buy a second truck and prosper. Or, just it quits all together and sit at the house and let a driver make your money for you. There's all kinds of ways to skin a cat and I'm just spit ballin here so take what I offer with a grain a salt. I wish you luck and I hope which ever way you decide to roll with this, it goes in your favor.

 

RUN!!!!!!! Way too many other options available.

 

I am a mom and pop operation.

What are they supplying? Do they have freight of their own or do they only get freight from Broker Boards. Do they have trailers? What kind and how many? Fuel, do they advance you for fuel?

My 2017 Volvo was acquired new from Lone Mountain. Transmission went out and was replaced at no charge. I would go that way again. I have 2014 freightliner Has some problem with DEF we can't figure out. Never again. I have a 2005 Pete long nose. Bought it cheap and that one works just find.

I would be very careful working for someone that doesn't really supply me anything.

 

So pretty much they are going to screw you over.

You don't know much about this business if you think this is a good deal.

 

Just from reading the OP's post, which are pretty vague for such an endeavor, I'd like to see you elaborate on that. Anyone who's been around here for a while, is aware you know your stuff when it comes to this business. I'm also skeptical on the deal, but if you could break it down a bit, you could enlighten a good amount of folks who might be pondering such a deal in a similar situation.