[BanditsCousin]

Yikes! I know paper logs are a pain, but to their credit, I've never been late to a load

I've heard a lot more stories of companies auditing logs throuigh the qualcomm. I have yet to see sufficient proof, since Qualcomm isn't admissable in court :wink: A United driver went to court and they had to throw it out because Qualcomm updates in periods that make it inaccurate. I argued with my dispatcher till he showed me proof.

So, with your o/o dream, lets see what it costs, and what it pays YOU-

Company driver-40cpm + Benny and the Jets

Owner Operator Expenses-
fuel-55cpm (currently)
maint- 5cpm
truck payment- .15 ($1500/mo @ 10,000 miles driven/month)
Insurance- 5cpm ($500/mo @ 10,000 mi)
Qualcomm fee??????
Escrow?????
What does layover pay???

So, we're at 80 cpm ($.80) to run your truck. the insurance figure could be wrong, but includes bobtail, liability, and workman's comp. At $1.26 ALL miles (w/FSC), you are looking at a profit of $.46 if you run right. Sure, the amount of profit will be more when the truck is paid off- but thats 3 years. I your desire for the open road fades. you have a depreciated Freightliner that you'll ned to pawn off on someone Which bring me to another point- drivers that work cheaper because the equipment is paid for. Thats the type of job THIS is :wink:

Can you take the truck to another carrier??? That is the question IF they know you can jump ship and take the equipment they're likely to keep you loaded, running and (hopefully) happy

Any which way you put it, its a gamble. You'll need to run hard and never come home. And you should find out what is being made. As REv Vassago shot down, 60-65K would be an extreme upper end of the spectrum, and might require teaming or lots of hand loads/unloads and miles. Overdrive magazine says the avg O/O makes about 45,000/yr. My actual income is probably less than that when I add up expenses.

[BanditsCousin]

OH, I forgot to mention insurance-

You are so gung-ho on this insurance bit, and how you "must" have group insurance and whatnot. Group insurance isn't always cheaper and/or provides more benefits.

As an o/o, we both know you'll need health insurance. I use Blue Cross Blue Shield and it costs me about $114/mo for some awsome coverage. Same thin with TRUCK insurance. I found better deals through GE for truck insurance and OOIDA for workman's comp. Mama always told me "you betta shop around!"

HTH

[Rev.Vassago]

I've got medical and dental for my entire family (me, wife, 2 kids), and it runs me around $485 per month with a $1000 deductible on the medical. I've looked into the group plan that my company offers, and they couldn't cover me for under $500 for medical only, and the benefits were a whole lot less.

[solo379]

Originally Posted by BanditsCousin

I use Blue Cross Blue Shield and it costs me about $114/mo for some awsome coverage.

Am i missing something? Or it's just a misprint?
BC/BS for me and wife(set as a small group) $557 currently for me! :roll:

[-FlyByNight-]

Originally Posted by -FlyByNight-

Yeah, but as and O/O leased to Crete you are allowed to pay for group health insurance. Single it's $300 or $350 depending on which deductible you choose. I'd go with the $300 plan.

Didn't know if you saw the above post or not. The deductibles are $1,000 and $500 respectively and it's good insurance, BC/BS. Either way, I have a pre existing condition that will not be covered if I were to get my own private health insurance policy. Trust me, I've tried.

Speaking of insurance, here's a new twist that's been going on more and more. I know 2 single women who are insuring single guys on there policy for extra cash. I know that one gets $100 per month. Some insurance companies are insuring what they call, "Significant others".

I have BC/BS PPO with no deductible for $438 per month. That's for a single person.

[Shawnee]

I bought my first truck at the age of 25, I always pay cash for everything if I can, I don't like to owe money, I always have extra money put away (at least ten thousand) in case of emergency repairs to the truck, If I use the credit card for repairs etc. I always pay it off at the end of the month

I personally wouldn't buy a truck from a company because then you are sort of stuck with that company

I would suggest a used truck for a first time buyer, buying a new truck as a first truck can be asking for trouble as most first time buyers don't have money set away for when miles are low and there is always a good chance of losing the truck because you can not afford to make payments

I have owned used and new trucks and there are advantages and disadvantages to both

New trucks have the advantage of everything being under warrenty, but big payments, used trucks, have more maintenence

Get a good accountant, and I would suggest becoming incorporated, you will get more tax write offs

I was very young when I became an O/O and I am still young, but I was smart with my money and I think I have been very successful in what I do

[Bigmon]

BC/BS for me is $138 per month. The plan through NICA is $27 per week, but not as good coverage as BC/BS.

[-FlyByNight-]

Steve,
That's interesting. How's the new trip coming along? Still fighting off the lot lizards with a winch bar? :P

Shawnee,
As I said in my initial post, I'm leaning toward buying used and definitely intend to incorporate for just the reason you mentioned and even have an excellent accountant that only deals with trucking lined up.

Bigmon,
What is NICA? :?

[Red Clay Rambler]

I guess that Bandit's Cousin's insurance is so cheap because he is relatively young compared to some of us>>>> :sad:

A decent BC/BS health policy for my wife and I would run around 3-400 monthly. We are both in our 40's.