I asked for names of companies that operate like Landstar and others... I got
What does this have to do with my question? Like I never thought of this stuff. Yea, it's a blatant "don't you know anything?" I don't see how to take this other than condescension,
Zero practical knowledge? Really? That deserves nothing less than a one finger salute. I reckon there is no experience that transfers to trucking. The business is unique and no practical business experience applies?
Point was obvious, I have experienced people to draw from. Is that not a good thing? I reckon the only way to learn trucking is to go in blind and blunder your way for 5 or 10 years?? This joker never got advice from anyone? WTF
I think I asked for direction to this abundant number of companies, why not just answer the question instead of explaining why I'm unqualified. Or just don't reply.
Enjoy your echo chamber
What's out there for a new guy?
Discussion in 'Ask An Owner Operator' started by ohandy1, May 29, 2021.
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Last edited: Jun 1, 2021
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To OP, i would like to just say everyones advice here resonates and is useful. Take whatever you can from it, whether it is constructive criticism or positive feedback. Ultimately, if u wanna be your own boss, only you will be able to and have to make the decisions. Good luck man.
ive never leased with anyone so i dont have experience with that. I went independent from the start.
Cattleman84 Road Train Member
- Nov 1, 2017
I think the OP takes things a little to personally... Instead of taking the questions people have asked him as what they are (people trying to get a feel for how well prepared for the OO world he is, so they can give him the appropriate level of advise) he gets defensive and blows a gasket.
So if he gets so bent out of shape over a few questions... Hows he going to handle it when he is faced with a $40k bill for an engine replacement? Or $20k for a complete set of new tires for the truck and trailer? Or how about when some POS broker stiffs him for several thousand dollars for loads he delivered months ago? Or when he is faced with a claim for several hundred thousand dollars for "damaged frieght" that was probably damaged before it even entered his posession?
I'm not so sure he is ready for the realities of trucking... Just my $0.02
Most lease-on carriers require at least one year of experience. Most commercial financing companies require two or a hefty down-payment.
I would try to get started with the least amount of capital put down as possible so you're not dumping your entire savings into a start-up venture. Starting out in insolvency right off the bat is never a good idea for any business so I would find a lease deal with a minimum down-payment rather than trying to finance a truck and end up in an upside down loan right off the bat.
At SFI I know one guy leasing there and their 2019 or 2020 (can't remember which he has) Cascadia Premiums are 221" wheel base, 2.28 ratio, 400hp. $800 a week for 140 weeks. They have a $42K buyout. So you're paying roughly $154,000 for a $115K truck at the time you started the lease, which is equivalent to a ~20% interest 3 year loan on the truck. But the down-payments are as little as nothing to $5,500 (which I believe is to cover the break of lease contract fee for high risk leasees). As long as you have a carrier letter agreeing to sign you they will lease you a truck. Your CDL experience and credit score will determine the down-payment.
I don't know anything about TEL lease.
At Lone-Mountain, they require an actual credit check and go by that I think unlike SFI where if you have a carrier promise to hire letter they'll give you a truck. Their 2022 Cascadias run about $160K brand new on Truck Paper I've seen. They want $20,500 down and $2,695 a month for 60 months. That's the equivalent of about a 5% loan with financing.
Obviously a much better deal than SFI in the long run but if you have the money to put down on a Lone Mountain Truck, I'd personally put that down on a used 2015-2017 Cascadia instead and have your payments and term cut in half. But only if that $20,500 isn't all you have.
I'd personally recommend a no money down walk away lease-purchase with a carrier. Get your feet wet in trip planning, fuel routing, IFTA tracking, dealing with maintenance and breakdowns on your own, etc. Get a year's worth of financial reports and tax filings and then you have a better idea on how to operate a business and have a history of income for your business to get you started in purchasing your own truck. It's what I did. It'll also really help humble yourself hauling $1.50-1.70 freight after your fuel surcharge and then once you get on your own and start hauling $2+ freight you'll realize how little of an increase it really is and won't go out and blow it and sink your business.Speed_Drums Thanks this.
kemosabi49 Trucker Forum STAFF Staff Member
- Jan 13, 2013
gekko1323 Heavy Load Member
- Jul 14, 2018
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