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

Buying the first truck is the hardest. To finance one you'll need commercial credit, but nobody will extend commercial credit to a first time buyer.... unless.... unless you have a substantial down payment, (something like 50%), and someone who is established that you'll be leasing onto who will provide projected earnings figures to the lender... that will get you into a truck...

And Rollin Coal is right, you better have a reserve.... figure an amount of at least 40k... that will get you by, ensure that you can cover any repair, and keep you afloat should the first place you lease onto be less than honest with their figures... you have to be extremely careful in this business...

It takes more business sense than driving skills to make it as an o/o'er.

 

If you drive full time 5 years & just can't get enough, we will talk. This ain't a car, you want to make real sure.

 

Contrary to what the 1st page posted, that right there is THE BEST advice. And it only took 18 posts to get it made.

Go buy an 18 or 14 month calendar now and start recording when you do your services, loads, what repairs, costs, etc. Basically, keep a daily journal of EVERYTHING you do/with to that truck. Including your loads.

IF, yeah, that's a big IF. you can sweet talk your dispatcher into it, see if you can get them on occasion to pass you what the load pays. Don't ask for all of them. Just the ones that pique your interest.

The road to being an o/o is to start thinking like one too. Stop relying on your office to answer your questions and get you out of a pickle. Because when you get into that truck, you are on your own. You don't have a supporting staff any more to back you up.

This isn't a job driving a truck. You are providing a service relocating someones product. How you define that service will set you aside from a million others who provide that same service. THAT is what will get you noticed by brokers/shippers and on their return call list with loads that don't get posted. And that is where the real money is.

 

It never goes away. It just changes form. It becomes brokers/shippers/consignees. Just how it is. Someone is going to piss you off.

It's not about modifying a truck. It's about seeing it as a business now. WHY is your DM deciding some of the things they are? Can you anticipate those decisions.

 

Unless you are so strong willed you can't stand working for others, I would remain a company driver. 25 years ago it was a great thing to be an 0/0. You will spend so much time looking up load boards, no support at all, & it goes on. It's a tough way to make a buck buddy. It can be done though.

 

I was going to do an "ETA" but this will do it better I think:

ETA:
That last part won't happen overnight. Doesn't matter if you have 8 months or 8 years experience. The only way that will happen is by doing that. And going to a large mega-carrier and leasing on with them isn't going to get you there. You are a glorified company driver to them. just they don't have to fix your truck. YOU DO. Brokers don't want to hear "my truck is broke down." They want to hear, "your load is delivered on-time and no DSO" If you need to ask what is "DSO", you aren't ready.

 

mileage pay as an o/o is NOT what it's about. Worst thing you can do.

You want most revenue and minimum mileage. a week ago, I worked 3 loads. Paid $1050 for 300 miles total for the day. Each round was 88 miles total. I was never more than 50 miles from the house Followed that up with $1550 for 530 miles for a days work. $1850 for 650 miles.

Today, I am looking at two loads. Never more than 60 miles from the house. Total miles for the day, maybe 175 miles. Total revenue, about $850.

It's not about miles. It's about revenue.

You have to understand what are your fixed costs and you must cover EVERY month. As well as what are your variable costs and will only build if you move the truck.