Wannabe Question

[ColtsFan]

First time poster long time lurker here. Question: I would like to start a driving career later this year. I have a class B with HAZ but may upgrade to class A. Is there a way to start out with no experience without teaming?I have a clean driving record, credit rating, home situation, location, work history, etc.

Would like to buy my own tractor and be an o/o if the prospects looked good enough. But, all the companies I look at only pay about $1.18/mile which includes the fsc. That isnt enough money for me to buy a tractor. Maybe a smaller company? If I could make $30k a year after expenses, I could live on that.

[BanditsCousin]

$1.18 isn't enough to finance a tractor, let alone buy one :wink:

If you go with a mega carrier, you'll have to do the team/training gig. Have you thought about buying your own straight truck? Theres good money in that if you get hooked up with the right company.

[ColtsFan]

Have you thought about buying your own straight truck? Theres good money in that if you get hooked up with the right company.

Yes. I am looking at expediting as well. Companies like Landstar Express and Express 1 sound good. What companies are you familiar with that pay well? Thanks for the reply too.

[BanditsCousin]

I'm not too knowledgeable about Class B trucking. Panther2 trucks are over the roads, I think they make good money. Thats about all the advice I can give 8)

[ColtsFan]

Yeah, Panther2 is one of the biggest companies in expediting. Thanks for your help.

why buy your own truck if you only plan to make 30,000. you can make a hell of alot more than that without the headaches of owning

[ColtsFan]

Well..that is a very good question. lol But, it can be summed up in one word. Control. However, since I am on the outside looking in...that level of control may not be high enough to justify buying my own truck. That is what I am trying to find out. But, if I dont buy...I will probably look for a company or fleet owner that will take me on as a 1099 driver. (contractor not an employee) I already have health insurance and a couple of retirement plans set up. So, I just want something that pays me money. If I am a 1099 driver...that should allow me to get a higher pay since they are not paying for my benefits. As far as the truck goes, I like anybody else wants something decent to drive that I can set up and expect to have for a while. If the owner takes that truck away and gives me something else to drive...I would want some time to remove things like stereo and aftermarket seat that I installed.

[larryh31]

As far as the truck goes, I like anybody else wants something decent to drive that I can set up and expect to have for a while. If the owner takes that truck away and gives me something else to drive...I would want some time to remove things like stereo and aftermarket seat that I installed.

I wouldn't spend too much time or money to "set up" a truck that I do not own. Relationships can change real quick in this business. Lets say you get into an accident or get some tickets. You could be fired right on the spot. Now you have to figure out how to get all of your stuff out of their truck and travel 1,000 miles back home. :shock:

[ColtsFan]

I wouldn't spend too much time or money to "set up" a truck that I do not own. Relationships can change real quick in this business. Lets say you get into an accident or get some tickets. You could be fired right on the spot. Now you have to figure out how to get all of your stuff out of their truck and travel 1,000 miles back home. :shock:

Good point. Nothing like a "catch 22". LOL

I ran into a friend over the weekend. He gave me his owners phone number and I called him Monday. He said if I buy my own truck and trailer (versus drive his) he would give me 90%. Which would = about $1.90/mile. Said I would get about 2400 miles a week. I could buy a nice used 03 Volvo with less than 600k miles, have a generator added, and an 01 Great Dane 53' for about $61Gs after my down payment. That would run me about $1200/month. Is that good or bad?

[Rev.Vassago]

I just had a Panther II driver come up to me at the T/A in Dallas yesterday, asking for a business card. He said he's going broke working for them.

[ColtsFan]

I just had a Panther II driver come up to me at the T/A in Dallas yesterday, asking for a business card. He said he's going broke working for them.

Do you know what he drove? Van, straight truck, or t/t? I know that January-March are usually lean times for expedite freight. Is it slow for TL and LTL this time of year too?

[Orangetxguy]

How long of a term were you qouted, to get a $61,000 note for $1200 a month? Is there a ballon payment on that note? And how big is it.

[ColtsFan]

How long of a term were you qouted, to get a $61,000 note for $1200 a month? Is there a ballon payment on that note? And how big is it.

That is a "fairly" accurate estimate based on a 5 yr note at 7% interest. I went through the bank loan approval process about a year ago. They were willing to loan me a similar ammount at a 5-7% interest rate. If memory serves me correctly...the last payment will be a little higher. Which may be what your calling the balloon payment. I have better credit now, so things are looking good for the loan. They knew it was a commercial loan, but treated it more like a loan for a used car when it comes to interest rates. Im pretty lucky, not to pat myself on the back or anything. But, I will have a partial income from my current job that is guaranteed income in addition to what the truck will make. I have a 700+ credit rating with very little debt aside from my house. Single and no kids. So, I am entering the biz from a good position. Like I said, I am not bragging. Just thankful.

[Rev.Vassago]

I just had a Panther II driver come up to me at the T/A in Dallas yesterday, asking for a business card. He said he's going broke working for them.

Do you know what he drove? Van, straight truck, or t/t? I know that January-March are usually lean times for expedite freight. Is it slow for TL and LTL this time of year too?

He asked me if Graebel leases straight trucks on, so I assume that is what he had.

[BanditsCousin]

If I could get $1.90/mi, I'd probably reconsider bedbugging. Thats a damn good rate friving under someone else, no matter what % you get of the total revenue! 8)

And the "control" thing is a myth for owner operators. You have some span of control, but you still have to play ball with dispatch (scracthing each others backs :wink: ).