What's the best way to acquire your first truck?

Alot of broken dreams??? ummm ok lol

 

The best way is paying cash in full and having a sufficient bankroll left over to keep the business going. It's not the quickest way but it's the surest way to have half a chance at success If you lease purchase or borrow a huge amount of money for a truck you can't afford the first time the power divider breaks will put you out of business Most fail because they are undercapitalized and probably90% or better of solo o/o fail in the first year.


So you can do it right slow and steady,making temporary sacrifices to ensure success. Or you can do it the quick, difficult way with no money down, etc, etc. Think of it like a pot roast. There's not much of anything I like better than a good potroast. But we don't toss everything in a bowl and nuke it in the microwave for 10 minutes and call it a good pot roast... We put it in a crockpot overnight and honestly the first bowl after 12 hours is nowhere near as good as the ones at 24-36 hours. A good pot roast takes time. A successful trucking operation does too. You just don't get in it quickly and ride the highway to riches.. sorry it doesn't work that way we all wished it did.

 

alot of old fleet freightliners for 20K

 

And some will take 8 life times and stii not make it.With some people you could give them a brand new tractor with no money down and give them 15 years to pay for it and they would still never get it paid for.

 

1. Take the miles you're running now
2. pretend you're an O/O
3. figure your profits
4. subtract your expenses including trucks etc payments
5. put that in a savings acct
6. when you have enuf $ saved to pay cash outright, go truck shopping.
Good luck!
Mary

 

It's less about a lease or a loan and more about what your prospects are, business management skills, etc. There is a lot of good advice on this thread. Given your lack of experience you might consider driving for someone else until you get the experience. However we see a lot of guys become successful as owner operators with under two years experience. Take a "personal inventory" and see if your ready i.e. where will your business come from? If that falls through what's your back up plan? How much do you have in reserves? Lots to consider.

 

Any way that doesn't involve a high-speed chase with law enforcement! LOL!!!