which is better

Discussion in 'Ask An Owner Operator' started by latoya thurmond, Aug 7, 2009.

  1. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Latoya, consider a few things. O/O needs a truck/trailer, insurance, registration, authority, permits, 2290. Next you need back-up money to pay for fuel, maintainence, breakdowns/repairs. We're talking $4000 to get road ready(not counting the truck/trailer) plus a good $8-10,000 cash for back-up money) Just fuel alone the first week could cost you $1000 easily. Sure, you can credit card a lot of stuff, but, 30 days later, you gotta pay on it, right? Now the other thing is: are you supporting a household and the truck, or just the truck? It makes a big difference. If you can not have to pay rent at home and just live in the truck, the money for rent/utilities/car pymt etc can be used for truck expenses. O/O's that have a family to feed and a mortgage to pay and keep up with the truck expenses need to make more money. And consider waiting 30-60 days for payment. :biggrin_2552:
     
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  3. L.B.

    L.B. Third Generation Truck Driver

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    Middle GA
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    Why would you RENT a truck and run under someone else's authority? At that point you are basically a company driver with no benefits, responsible for your own taxes, but have the responsibility of maintaining someone else's truck.

    If you were the guy with the authority I would say it sounds like a GREAT deal!! For you... not so much!
     
  4. latoya thurmond

    latoya thurmond Light Load Member

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    Jul 27, 2009
    chicago il
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    Hey thanks that was the best info so far.
     
  5. latoya thurmond

    latoya thurmond Light Load Member

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    Jul 27, 2009
    chicago il
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    What will be the expenses if I was leased on to a company?:biggrin_25517:
     
  6. 7mouths2feed

    7mouths2feed "Family Man"

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    Nov 29, 2007
    Jacksonville, AR
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    food, fuel, bobtail ins, medical ins, some provide plates others you make a weekly payment, either trailer rental or a lower percentage, maintenance, repairs, ....... Oh IFTA, taxes.... hmmmmmm I'm sure theres something else I'm missing.:yes2557: truck payment.....
     
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  7. latoya thurmond

    latoya thurmond Light Load Member

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    Jul 27, 2009
    chicago il
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    IFTA is that road taxs?
     
  8. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    IFTA is fuel/road tax. Each state you drive in charges you per mile. You pay it quarterly. What you don't pay through fuel purchase, you pay at the end of the quarter. If you buy enough fuel in the states you drive through, it evens out, usually. If you buy more than enough fuel, you get a credit. Some companies pay for IFTA, some don't. Figure about $150 a quarter.
     
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  9. latoya thurmond

    latoya thurmond Light Load Member

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    Jul 27, 2009
    chicago il
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    so what could I expect to pay in fuel going otr plate program if they have one and bobtail insuraance.
     
  10. Winchester Magnum

    Winchester Magnum Road Train Member

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    Alaska highway
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    $150/quarter? Geezuz !??!

    This last quarter, I got back $48. Quarter before that I owed $1.48. Quarter before that I got back .71 cents.

    But I try to buy most of my fuel in high tax states like communois and Florida.
     
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