becoming o/o

[rognre]

i am lookling to buy a truck and sign on with either foward air or landstar,here is my question if i have $25000 to spend on a truck should i buy one i can pay for or buy a better truck and use the 25000 as down payment,either way i will have about 7500 left in bank to get started,is this enough?

[BanditsCousin]

Before I can start answering your question, I'd need to know your current experience/resume and a few details. Everyone wants to buy a truck and get rich, or live well- few do it :wink:

[jrhbull]

How come when someone asks questions about starting up as a o/o poeple always tell them that most never make it?? It seems theres plenty of freight avaliable?? Maybe im missing something??

[coastie]

How come when someone asks questions about starting up as a o/o poeple always tell them that most never make it?? It seems theres plenty of freight avaliable?? Maybe im missing something??

Well I had not seen anyone say anyone will not make it on this thread. But I know the feeling...

Any business you go into is a Big Risk. When you go into a business you need to know the business. Most say they will not make it is to those who just getting the CDL's But some of them do makes it. Cause they sit down and research out all the facts.

Just guessing most who does not make it as an O/O goes in without a Business Plan.

1. They Do not plan for the worst, and when it happens, they are left out in the cold. (Break Down , Illness)

2. Do not Plan for increase in Operation Cost, Such as Fuel price Increase. (Not being Flexible)

3. Do not have a Cost of Operations set, nor a Budget set. (Know HOw much it cost to run your Truck, Set Limits to control Spending)

4. To busy being a BillyBig Rig, and Over spends. (Buying the Biggest badest Truck that cost more than they make),

5. Leases onto a Company and is to Blind to see they are not making money. (Cost you 90 cents to move the truck and your hauling for 85.)

6. They accept any load offered, Not having a minum price they haul for, or they just haul CHEAP Freight.

That is what I am seeing, and I am sure there is more reasons.

[jrhbull]

I see.That all makes sense thanks , for the info. I think there is plenty of opportunity if ya play right

[pepe4158]

Your leasing on with someone....hmmm my experience with watching the lease owners in the companies I was with was it was a matter of politics whether you will make it or not, if the dispatchers like you , you do well $ wise, if you tick one off, get ready to starve.

[GMAN]

i am lookling to buy a truck and sign on with either foward air or landstar,here is my question if i have $25000 to spend on a truck should i buy one i can pay for or buy a better truck and use the 25000 as down payment,either way i will have about 7500 left in bank to get started,is this enough?

I would opt for paying cash. You can find a good truck for that amount of money or less. I would also suggest looking at carrier's who pay percentage rather than mileage. You didn't mention your level of experience in your post. Most of the better carrier's will require 1-2 years experience. Some will require more. Unless you have a major breakdown, such as an engine, $7,500 should get you started and provide a cushion, if you are going to lease to a carrier.

[rognre]

been driving since 1994,currently i am working for a local/ regional company in st louis,been there since 1996.run out 200-400 mi then return,usaully hauling containers or air frieght.sometimes we run line hauls for forward air.driving since 1994 no wrecks,tickets,anything else.

[rognre]

gman what would be your limit to mileage on a truck if you were buying it.

[rank]

either way i will have about 7500 left in bank to get started

I would like to see a little more to be safe, but it depends on the year of the truck too. We bought at '98 T800 in December and we've already spent about $10,000 getting it right. Turbo, cylinder head, compressor, mains and rods.....and this truck looked like it was in show room condition.

gman what would be your limit to mileage on a truck if you were buying it.

Well, I'm not Gman, but I would suggest that it depends on how many miles you plan to run. If you plan for a rebuild at a million and you drag vans around for 125,000 miles/year.....a 750,000 mile truck should buy you two years. But if you pull something more specialized, or do local stuff, you will likely run fewer miles meaning you can get more years before you rebuild.

[GMAN]

gman what would be your limit to mileage on a truck if you were buying it.

I don't go strictly by miles. I once bought a truck with about 900,000 miles on the odometer, but it had a new engine with less than 100,000 miles on it. I look at the general condition and the work that has been done. If major work has been done I want to see the paperwork. I prefer to find a truck with fewer than 500,000 miles, but low miles are no guarantee that you are getting a good truck. You can find a truck with 200,000 that is ready for an in-frame. I look for good value. It all depends on how the truck has been maintained. There is no real magic mileage at which an in-frame must be done. I have known of quite a few who have gotten more than 1 million miles out of an engine before having to do major repairs. Most engine manufacturer's with whom I have spoken say that you need to be prepared for an overhaul once you get around 750,000 miles on the engine. Again, it depends entirely on how it was maintained.

[YoungZ.W.]

Hows business been going GMAN??? Does it usually pick up in the summer for you???

[GMAN]

Hows business been going GMAN??? Does it usually pick up in the summer for you???

Freight and rates are up from a couple of months ago. This has been an unusually slow year, so far. Things are nearly always slow during January and at part of February. I usually take off from Christmas until after the first of the year. Freight is usually stronger in the summer months and slower in winter, especially for flats.