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

doesn't matter WHAT your credit.

Most banks won't finance older than 9 years old. You might get them to swing a loan IF you know your banker AND you have lots of documentation that the truck has a new engine/clutch from a well reputable shop.

It's got less to do with credit report for the age of the truck.

Your credit history will hurt you, not saying it won't. Every bank I talked with had issue with age of truck before they looked at my credit. On a 2003 KW even with a documented engine rebuild, weren't interested. On a 2009, then I was considered.

 

Back years ago i HATED the way the companies were treating the drivers.No good pay,not enough home time and way to many rules for the way i roll.I set up a business plan and started my search.It was do or die for me at the time.I was down to my last 5,000 bucks.

All i had left was a bottle of mad dog 20/20,a wish,a dream,a joint,my CB Radio and a HATE for company driving.I was living in a friends basement in NY with my Jimi Hendrix Poster on the wall and my 1981 feather roach clip and lava lamp.At that time i was down to nothing at all.I was on Parole and the courts were breathing down my neck.My Parole Officer at the time was a big nasty mean Lesbian from Mass.I was convinced she hated men.She was all over me about getting a job and growing up.She was all over me about stopping my wild ways and stopping the drinking and smoking my weed at the time.I hated this woman.

So i took the chance and went with it.I found a truck and bought the #### thing from an old guy.I did not have much to lose at the time.Everyone in my life at the time said NO NO NO and discouraged me from this.I pushed on with no support from anyone at the time. Needless to say i bought the truck with my very last 5,000 bucs.I put it on with a container outfit and started my O/O Carreer.That was about 23 years ago.What a journey it has been..

My first week out i blew a tire and had NO MONEY.Thank god the company fronted me the money and then took it out of my settlement. Week after week i was breaking down and working overtime on the side of the roadway.Thank god the truckers were truckers back then.Many guys stopped and helped me over and over.If it was not for them i would never be where i am at today.Things were a bit different back then. To make a long story short it was HELL FOR ME..But i kept getting up at 4 AM and pushing on.My big fat Lesbiam Parole Officer started to like me and helped me out anyway she could.She was finally on my side...I started to realize this woman became my friend.

My truck started to make me money.After some time i opened a bank account.I started to see some fruits from my labor.I hung out with the ''old timers'' at a diner every night in PA and listened to these miserable old bastads.Some of these guys had clothes on that were covered with grease and oil and they stunk bad.But they were a wealth of knowledge and new there ####.Looking back i owe these smelly grease balls alot.I did not know at the time but they took me under there wing.They kept an eye on my dumb a-z-z..I was just a young,stupid kid from the streets of NY with a criminal record.Back then these guys would actually smack you in the back of the head and kick you in the a-z-z.They were tough old men and took no #### from anyone.It is much different today.

To make a long story short i made it out the other side.I got off Parole and quit drinking and smoking weed.I did 3 years pulling containers and enjoyed it till i burned out.My Lawyer and Parole Officer helped me get my record expunged.I went back to night school to learn how to read and write.In which i still struggle with but i am alot better than i was.

It is still a constant struggle to stay ahead.I still work some 70-100 hours a week.I have learned so much and continue to learn.I like to think i know it all,but i don't.I still call the old timers,Ranger Bob and some Landstar old timers and they kick me in my A-Z-Z..I still screw up and do stupid ####.But i do not do the stupid #### more than one time..

All in all i would not change it.Today i have a beautiful home almost paid for and a beautiful Harley i love to ride.I have remodeled my home and it looks wonderful.My bank account is up over 100,000 and counting.I finally have something that resembles a life,on an O/O Wage.I have taken wonderful vacations and seen most of the USA.

I have not drank or did any drugs in many many years.I have not been in a jail cell in many many years.Matter of fact i walk alot these days and keep the weight off and live healthy.I am looking into night courses again to better my reading and writing as we speak.I hope someday to do my first 5k walk for a cure.


I wish you luck and i can tell you this is not for WUSSIES.It takes dedication,commitment and LOTS OF HARD HARD WORK.This is the toughest thing i have ever done in my life to stay successful and ahead.I hope you make the right choices for your life...If you ever need any help you can ask me and i can try to help.If not i am sure i can make a phone call to someone and get the answers.

Until then enjoy the journey and keep on trucking....Most of all we are all still LEARNING the O/O Business.We never stop learning...And thank god for Truckers Report.What a wonderful tool for truckers...I for one will donate money to keep this forum going...

Landstar8891

 

My boy jumped right in with owner operating at age 21 he has only been with it since october 2012 and he is doing fine.He had driving excperience since he was 18 but never worked for a trucking company. He is leased to a very good company,I believe that is 95 % of him being successful.

 

^^ And it looks like he had someone to teach him. It's good he is doing well because more fail than succeed. You done something right.

Any newbie needs to drive five years with a company and learn the business first. In the meanwhile save as much as you can for a down payment. If at the end of five years you don't have $5000-$10,000 saved up you don't need to be an owner operator because you can't manage money properly. Also in that five years you can find your niche in the business and even start gathering business contacts.

The same five years take out a few small loans at a home town bank and pay the payments on time.

Then when you are ready you can go buy a new truck with no problems.

 

To the guy that recommended he have 40K saved in a reserve fund, that's a little far fetched don't you think?? With that stash you might as well get an overhaul with the truck after you buy at

 

LOL! or perhaps a Last Will!

 

From another thread.........

pavel94

Light Load MemberMember SinceNov 2010LocationWaterford MITrucker?13 YearsPosts163Thanks3Thanked: 20 Times

Need Serious Engine Help!

Soo guys after buying a used 2006 Volvo out of the Michigan area. six days later the truck goes to put its first load. The truck was bob tail in Detroit, MI headed to Chicago, Il to pick up the load for Dallas, only a 10,000pounds. No biggie Well it picked up the load and headed to Dallas, in Sullivan, Mo going up a small hill on I44 the truck cut out and was pulled into the shoulder, it wouldn't even turn over. The tow truck came, we pulled it to the shop only to find the Cummins engine had a hole on the bottom. The engine it gone. I called Cummins they want $24k for a reman. I also found a used one for $12k+ labor im looking at $17k. What can I do the truck was purchased "as is" Need serious help?
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In the business world 40k is just a drop in the bucket..........

It hurts me when I hear of people like Pavel in this situation, and I would never advise anyone to go o/o without a substantial reserve.​