A Gift?...Or A Curse?

[two_ton_trucker18]

I have come to a fork in the road, fellow drivers. I have a chance to own my own rig. No payments...Grandparents want to flat out BUY me a truck. But here is the thing, I've been OTR for 8 years now and don't know a thing about managing my own truck. All I know is, keep fuel in it, change the fluids when they need it, and if it breaks...Fix it now not later. Hell, I'm even reading books on doing routine maintenance, so I wont have to pay someone to change my headlights. LOL

I'm thinking about running intermodal from Nashville to Memphis, if I do this it will probably be with a daycab.

How do I figure the precentages to hold out for each week. For fuel, maintenance fund, insurance, taxes, ect. I guess what I'm getting at is, how do you manage your income. Because if I do this, I don't want screw myself in the long run.

So, would some of you PLEASE tell me how to do this, My family and I would be eternally grateful.

[rank]

[quote="two_ton_trucker18"]How do I figure the precentages to hold out for each week. For fuel, maintenance fund, insurance, taxes, ect. I guess what I'm getting at is, how do you manage your income.[quote]
Truck only? New or used? How may miles do you drive in a year?

Quick estimates without knowing anything about your operation?

$5,000/yr for mait.
$.60/mile for fuel
30% tax
$12,000/yr insurance

[jdtj63]

I have come to a fork in the road, fellow drivers. I have a chance to own my own rig. No payments...Grandparents want to flat out BUY me a truck. But here is the thing, I've been OTR for 8 years now and don't know a thing about managing my own truck. All I know is, keep fuel in it, change the fluids when they need it, and if it breaks...Fix it now not later. Hell, I'm even reading books on doing routine maintenance, so I wont have to pay someone to change my headlights. LOL

I'm thinking about running intermodal from Nashville to Memphis, if I do this it will probably be with a daycab.

How do I figure the precentages to hold out for each week. For fuel, maintenance fund, insurance, taxes, ect. I guess what I'm getting at is, how do you manage your income. Because if I do this, I don't want screw myself in the long run.

So, would some of you PLEASE tell me how to do this, My family and I would be eternally grateful.

I would go back to school or learn a trade.

[Ian Williams]

As jdtj63 said, you would be better off spending the $30-50k for a decent truck on training to become a mechanic, electrician or other skilled tradesman.

If you do decide to get a truck work for a O/O or smaller company that will mentor you on everything that having your own equipment entails.

[rank]

a truck driver that is also a heavy equipment mechanic can make some money.

[jdtj63]

a truck driver that is also a heavy equipment mechanic can make some money.

I can drive a truck. 20 years experience so far. I would like to learn mechanics and make some money. where to start? :?

[GMAN]

I have come to a fork in the road, fellow drivers. I have a chance to own my own rig. No payments...Grandparents want to flat out BUY me a truck. But here is the thing, I've been OTR for 8 years now and don't know a thing about managing my own truck. All I know is, keep fuel in it, change the fluids when they need it, and if it breaks...Fix it now not later. Hell, I'm even reading books on doing routine maintenance, so I wont have to pay someone to change my headlights. LOL

I'm thinking about running intermodal from Nashville to Memphis, if I do this it will probably be with a daycab.

How do I figure the precentages to hold out for each week. For fuel, maintenance fund, insurance, taxes, ect. I guess what I'm getting at is, how do you manage your income. Because if I do this, I don't want screw myself in the long run.

So, would some of you PLEASE tell me how to do this, My family and I would be eternally grateful.

I would suggest you get a truck with a sleeper. Intermodal is on the bottom of the food chain with rates. You may want to haul something else which pays more. Besides, some intermodal goes farther what you would want with a day cab.

[two_ton_trucker18]

Thanks for the advise fellas. 8) After thinking about it for a bit, I'm not ready for the o/o biz. I still have alot to learn. Don't get me wrong, I'd love to have my own truck but there are too many aspects I don't understand. But maybe one day I will be. :wink: Thanks again.