Hi all, been lurking for a while now, both without being a member and being one. Thought I would ask a couple question's on what you would do if you were in my shoes...
I've recently turned 21 years of age, have been trucking since the day I turned 18. Logged north of 250k miles over my career pulling food grade tanks within the state of AR. I know trucking-of course to an extent-and have always thought about being an Owner operator my whole life. Think maybe its time to tuck my ears back and jump in.
The truck in question, is a 06 Pete exhd, stand up. 550 horse Cat in front of an 18sp with 3.36 running gears all at a little over 600k miles, no motor work, new clutch, knee deep in rubber and stacked with brakes. 2 owner truck, second owner got the truck at 72k miles. Very meticulously taken care of pre-emission truck. Asking price on the truck is 40k.
Truck comes with a job, hook to his hopper bottom, pulling within the state with the occasional out of state run. Very rare to go out of the 250 mile radius.
Pay varies from load to load, but a friend of mine, pulling for him, says its between 1.92 a running mile to as high as 2.50 a running mile. That being said its mainly short runs, 2-3 trips a day within the state to various locations. Any where between 4-600 miles a day.
The truck is gonna make money I believe, why I'm even considering buying a truck at 21 years old, is because it comes with a job. Which everybody knows, if your not 23 or have OTR experience, your basically out of luck. Payment on the truck would be around 7-1000 a month, so if everything goes south, I could just park the truck and make the payments. Trailer rent is 275 a week, with insurance being around 700 a month, for 40k on the truck, 30k on the trailer, million liability, and 25k cargo.
Would you go for it? Couple owner operators I know said they would, although a 40k dollar truck is hard to swallow for your first truck, but they all say, if it comes with a job, and you can get along with the guy, they would go for it.
Another thing thats been bugging me, that everybody I've talked to has suggested, seeing how the truck would basically stay in the state of AR pulling unfinished farm product, that I run a commercial farm tag, pay the heavy road tax, and go to trucking. They also say I can pay for say, a 72 hr permit to run to surrounding states, etc.
One thing that scares me, is to me, thats tax evasion, and nobody wants the IRS, or uncle sam to pay them a visit.
Getting my authority, is no problem at all, but some say go this route, while other say authority is the only way to go.
**I've got plenty of startup money, I'm just weighing my options and soaking up the advice**
No problems at my current workplace, pay is well, just heres my chance is all.
I would just like a little more advice, what you would do, or what you wouldn't do. Also sorry for the long post, I just don't want to make a huge mistake, at such a young age.
Thanks for reading guys and gals.
Taylor
Would you do it?
Discussion in 'Ask An Owner Operator' started by zpmps2, Jan 22, 2013.
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