where to start

Discussion in 'Ask An Owner Operator' started by oldyankee, Oct 4, 2011.

  1. oldyankee

    oldyankee Light Load Member

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    Sep 28, 2010
    NC
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    I have been driving company crap for over 25 years.
    Looking to get my own truck but don't know where to start.
    I have a twic card, tank ,hazmat and doubles experience and clean license.
    Looking for something that get's me home weekends at least and live in NC for now.
     
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  3. rogueunh

    rogueunh Road Train Member

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    Not sure of the question. Are you asking how to go about getting a truck, or are you asking what type of work you can do to be home weekends in NC?

    I'd say the truck will be the easy part. What are you hauling, and to where???
     
  4. oldyankee

    oldyankee Light Load Member

    118
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    Sep 28, 2010
    NC
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    asking about getting my own truck and what would be involved.
    Hauling bulk chemical tankers now.
     
  5. rogueunh

    rogueunh Road Train Member

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    Well, basically you need to:

    Get your DOT# (FMCSA.gov)
    Get insurance (vehicle and cargo)
    Register vehicle with state
    Pay IRS Form 2290 (Heavy Highway Use tax)
    Then go to IFTA/IRP office and create accounts for both of those (will pay for sticker)

    As you can see, you need some cash on hand to pay for all of these things.
     
  6. G/MAN

    G/MAN Road Train Member

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    Sep 3, 2010
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    Are you asking about how to go about buying a truck, leasing on to a carrier or getting your authority?

    If you want to know how to purchase a truck, you look around, find a truck you like and write them a check. If you don't have enough cash to pay for a truck then you will need to find a lender who makes loans on class 8 equipment. You will usually need at least 10% down payment, perhaps as much as 20%, depending on your credit. You will also need money to run on and to keep you going until you start getting your money coming in. It is good to have at least 6 months expenses saved up before buying a truck. If you plan to get your own authority, you should plan on buying a trailer.
     
  7. rogueunh

    rogueunh Road Train Member

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    ^^^^^Yes. Actually "getting the truck" is the easy part. Go to truck dealer, and buy one.
     
  8. SHC

    SHC Spoiled Rotten Brat O/O

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    Westville, IN
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    Just plan on putting down $10k to get the truck and have a MINIMUM of $15k put aside for expenses ($25k if getting your own authority) and then the rest is just paperwork and booking the right loads for your wants and needs.

    If you don't have the $$ as stated above already saved up then I wouldn't even consider getting your own truck as you are most likely going to fail.
     
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