[cdreid]

I'm team driving hauling car parts now and ive decided i want to be an O/O now that i can finally see the math. I drive for a lease driver .. but he's still barely making money but that is frankly.. because he cant control his spending.

I'm curious about how hard it is to get a loan and down payment etc. My CR is 680 right now will go to 700 when i pay some stuff off shortly.. im hoping that will be enough. I have a car worth 10 grand retail right now i can get a loan on or put up for collateral. It should be easy for me to save $3 to 5k.

Ive considered all the options and originallly planned to get a CHEAP truck.. 15-25k. But now that i do the math.. well honestly the truck payment is one of the smallest costs of driving now. Fuel is the biggy. Youre better off buying a brand new truck if it gets 1mpg more than you are a CHEAP CHEAP truck that gets 1mpg less.

My plan is a used prostar or pete 387 (probably prostar) that i can average 6.5-7mpg with with a good transmission and engine. Maybe 500-600k mileage. Im thinking 50k??
I live in nc but am thinking of running for a company that pays its lease driver 1.30ish a mile at the moment WITH fuel surcharge. Id KILL to lease to a company that passed on full surcharge (do those exist now??).
With this particular company i can do 2500 easily leaving monday mornign and getting home friday evening. (I'm about hometime more than anything) or may find better runs up to chicago and back with someone.
I run HARD. I used to run 3100 between sunday night and thursday early am..

My questions are:
1. Is this a good plan
2. Different truck suggestion? NO freightshakers im sick of driving them.
3. Should i spend more or less on a truck.
4. Should i have a mechanic check it out? Are warranties on drivetrain available on used trucks?
5. Should i get my own authority as well to run if freight gets slow etc etc.
6. Where do i get the truck loan from or should i just go to dealers and have them run it.

Any suggestions? Im serious about becoming an o/o. The only thing i never liked about truckign was someone else controllign my life. Now its just getting the finances figured out.

[solo379]

Originally Posted by cdreid

My questions are:
1. Is this a good plan
2. Different truck suggestion? NO freightshakers im sick of driving them.
3. Should i spend more or less on a truck.
4. Should i have a mechanic check it out? Are warranties on drivetrain available on used trucks?
5. Should i get my own authority as well to run if freight gets slow etc etc.
6. Where do i get the truck loan from or should i just go to dealers and have them run it.

1)It's not a plan yet, it's just a projection....
2)If you are buying a used truck, i would be more concern with the quality, any brand could do....
3)That's a loaded question, too many variation.
4)Of course you should.
5)Makes no sense to me. It's should be one, or another.
6)The best if you could get it from your local bank, your credit is not perfect but could do.

You've said you are driving a team? 2500 miles?
And one other thing, i would not recommend it for less than $1.5 a mile, all miles run leased to a company. $1.3+ barely to break even IMHO.

[firebird_1252]

Originally Posted by solo379

1)It's not a plan yet, it's just a projection....
2)If you are buying a used truck, i would be more concern with the quality, any brand could do....
3)That's a loaded question, too many variation.
4)Of course you should.
5)Makes no sense to me. It's should be one, or another.
6)The best if you could get it from your local bank, your credit is not perfect but could do.

You've said you are driving a team? 2500 miles?
And one other thing, i would not recommend it for less than $1.5 a mile, all miles run leased to a company. $1.3+ barely to break even IMHO.

i agree 100% with above.

and for what its worth... a freightliner will make the same money a international/pete/kw etc. i sugest you buy what the best deal is.

[GMAN]

I would not be too concerned with the brand of truck. They all make the same amount of revenue. Most have the same engines and drive trains. You will usually get more for your money with a Freightliner or International. What you want is a reliable truck that you are not going to have to start spending money on right out of the shute. Paying a mechanic to check over a truck before you write a check would be money well spent. Take your time and you can find a good deal. There is no reason to buy a new or nearly new truck, especially starting out. You can buy a good truck in the $20-30,000 range. I would opt for something on the lower end of those figures. It is important to keep your costs and commitments down, especially starting out. One advantage you will have in keeping your monthly payments low is that you could more easily survive if the economy takes another dive. Your credit is marginal but you may find someone who will finance your purchase with a good down payment. You could probably get better terms if you wait until it gets over 700. I would try to find my own financing. A local bank or credit union would be best and likely offer better rates than one of the big equipment lenders. You need to know where you will lease your truck before you buy it. In fact, many lenders will require a letter of intent to lease before making a loan.

Most carriers pass along 100% of the fsc. Do a little research to find a carrier that best meets your personal needs. I would recommend a carrier that is agent based and pays percentage. You should do much better than leasing to a carrier that pays mileage. Unless you pull a van, you may need to either buy or lease a trailer. Most carriers will not want you to have your own authority if you lease to them. If you want to get your authority then I would not lease to a carrier. It is a lot of expense unless you are getting your own freight. If you lease to a carrier with their own direct freight contracts, you might do better during a down economy than if you have your own authority.

[cdreid]

Team driving we're doing 5 to 6k between monday midmorning and LATE friday night or early saturday. We could do more but theres a lot of city driving at the ends of the loads. Where we should be running 600 we're running 5. Also the scheduled pickup times screw us.

As far as brand ive driven petes, internationals, etc etc etc and theres a huge quality difference. Freightshakers are just that, theyre loud vibration buckets. They turn great, get good mileage, theyre a cheap workhorse but these are our HOMES lets be honest. We have that other place we visit. Internationals are quieter and ride smoother. Petes are much nicer inside, ride a little quieter and a lot smoother. Its worth 10k over 3 years easily for me to not feel like my bones aare vibrating when i get out of the truck.

I'll listen to you on the 20 to 30k im just worried about inheriting an older trucks problems or problems leasing on. If the engine goes after 20k miles.. im screwed.
Percentage sounds great... honestly one of my biggest problems is companies and o/o's seem to keep their contracts and numbers top secret.
I can raise my credit further i just havent put that much effort into it. It isnt really that i have bad credit it is that i have had no credit.. i dont borrow money. I pay cash. A bad thing these days i guess.

Ive never driven flatbed. Always dry van or bedbugging. Id actually prefer bedbugging but bedbuggers do NOT get home. Is flatbed that much better? i notice most o/o's seem to run flatbed. Heck it might be nice to get a midroof and not worry so often about bridges.

I dont have a family to support though i 'help' my mother and sister and friends. I dont >have< to make 700-1200 a week. ISo if freight dries up as long as i make truck expenses and money to eat im ok. I should even be able to double or triple truck payments in good times.

I understand about authority and frankly i dont want to do that paperwork anyway thanks.

Do i just need to start making phonecalls about runs available and terms for companies? Id LOVE a company that had runs here to wherever and back. I used to be home 3.5 days a week and run 3100 miles a week. As an O/O that would be simply amazing. And i agree on 1.30 a mile its mighty low this is just my first experience actually seeing the figures an o/o or lease driver makes, though i see a lot of bs spewed here.

Thanks everybody id love any other help. and GMAN you are as always amazing man youve done more to help drivers than anyone on any forum etc. Especially me

[firebird_1252]

personally if i was teaming the only 2 brands for me to look at would be freightliner and volvo. but its up to you. granted my columbia isnt made as well as my dad's petei'm hanging out right now, front windshild closed and more then enough room.

[cdreid]

My aversion to freightliners isnt about room they have plenty. Its about noise and horrible ride. I LOVE their tight turn radius and they'll haul ass if you have a good engine/tranny. They'll beat you to death though

[Instigator]

I was also thinking about becoming an Owner Operator again, that is until I took a hard look at the numbers. First off I would not rule out a Freightliner tractor as I drive one now and I like them (2000 FLD) yes they ride a lot better then International. Peterbilt and Kenworth are all bells and whistles so I would stay away from them in the beginning for expense reasons. Freightliner, International and Volvo are much cheaper alternatives.

The company you looked at is not paying you enough money to make a living. You can expect .92 to .96 cents per mile as your cost of doing business, lets just round that off to a dollar per mile, your costs for truck, Ins etc. So at 1.30 per mile you are earning only 30 cents per mile. Anyone that tells you any different on the numbers has not owned a truck before, theses are real time numbers.

You need to find a company that will pay you at least 2.00 per mile pluse a fuel surcharge, I also suggest getting a program that will tell you the correct fuel surcharge so you dont get burned. I would not run my truck for less than 1.75 on a back haul and 2.00 on a main haul, you can get more if you know where to look. Brokers are all crooks so be aware of that going in and trust no one, they will all lie to you.

Finding a reliable tractor is of most importance for your sake and setting up a repair fund is crucial to your survival in this industry. I would not go with any of the lease deals out there from trucking companies they are all working against the driver and they are too easy for the company to take back your truck before you actually pay it off. Purchase your own truck from a bank loan, credit union or truck leasing facility that has a good reputation.

I would also look at Penske and Ryder trucks as they do sell them after so many years but they are usually in very good shape and should have all reapir histories on each vehicle. They also have a reputation for excellent repair and maintenance standards. Hope some of this info helps, best of luck to you and keep us posted!

[cdreid]

We're teaming (makes a huuuuge difference) doing 5k a week and clearing around a grand each a week. We could run more but the routes our company has are kinda screwy... lots of city driving. I agree with your .30 a mile numbers. Im looking for freedom and hometime though. Money is way down the list.

As for trucks - ive driven just about everything and i just cant stand freightshakers.. they deafen you and wear you out. A good international is smooth.. they just have that weird side to side rocking thiid ng. Petes are in a class of their own. I could care less about the fancy cab doodads.. it's the ride and the noise that make me prefer pete/international. Freightliners in my experience turn MUCH better and haul ass... they dont have the pull of a international/pete with a cat c15 but they fly. The only way i would consider a freightliner is if i got a killer deal on it.. Though the new model looks nice. frankly these days with fuel through the roof the truck payment is hardly even a factor comparatively. Youd just about be better off buying a new truck that gets 7-8mpg than an old one you own outright that gets 5.5-6

Youre completel yright about penske. I worked for a company that leased penske trucks. I drove the oldest truck in the fleet and they couldnt pry me out of it. Ran like a top. Plenty of power. great jake. ugly as a dog heh.

My thing looking for companies is trust. I want a company with a lot of routes near/through my town (asheville, nc). Just not willing to be otr and out for weeks anymore. Id rather work for 5 or 10 cents a mile less working for good people than pull down the big paychecks and get screwed. Good companies are hard to find..

[GMAN]

Originally Posted by cdreid

Team driving we're doing 5 to 6k between monday midmorning and LATE friday night or early saturday. We could do more but theres a lot of city driving at the ends of the loads. Where we should be running 600 we're running 5. Also the scheduled pickup times screw us.

As far as brand ive driven petes, internationals, etc etc etc and theres a huge quality difference. Freightshakers are just that, theyre loud vibration buckets. They turn great, get good mileage, theyre a cheap workhorse but these are our HOMES lets be honest. We have that other place we visit. Internationals are quieter and ride smoother. Petes are much nicer inside, ride a little quieter and a lot smoother. Its worth 10k over 3 years easily for me to not feel like my bones aare vibrating when i get out of the truck.

I'll listen to you on the 20 to 30k im just worried about inheriting an older trucks problems or problems leasing on. If the engine goes after 20k miles.. im screwed.
Percentage sounds great... honestly one of my biggest problems is companies and o/o's seem to keep their contracts and numbers top secret.
I can raise my credit further i just havent put that much effort into it. It isnt really that i have bad credit it is that i have had no credit.. i dont borrow money. I pay cash. A bad thing these days i guess.

Ive never driven flatbed. Always dry van or bedbugging. Id actually prefer bedbugging but bedbuggers do NOT get home. Is flatbed that much better? i notice most o/o's seem to run flatbed. Heck it might be nice to get a midroof and not worry so often about bridges.

I dont have a family to support though i 'help' my mother and sister and friends. I dont >have< to make 700-1200 a week. ISo if freight dries up as long as i make truck expenses and money to eat im ok. I should even be able to double or triple truck payments in good times.

I understand about authority and frankly i dont want to do that paperwork anyway thanks.

Do i just need to start making phonecalls about runs available and terms for companies? Id LOVE a company that had runs here to wherever and back. I used to be home 3.5 days a week and run 3100 miles a week. As an O/O that would be simply amazing. And i agree on 1.30 a mile its mighty low this is just my first experience actually seeing the figures an o/o or lease driver makes, though i see a lot of bs spewed here.

Thanks everybody id love any other help. and GMAN you are as always amazing man youve done more to help drivers than anyone on any forum etc. Especially me

I appreciate your confidence. If you plan on running team, I would look for a truck with fewer miles or one that has had work done on the drivetrain. Probably something in the 300,000 mile range. I doubt that you can find a good truck in the price range that I mentioned with only 300,000 miles. A truck with 500,000 miles still has a lot of life left. Running team can put miles on a truck very quickly. You could have almost a million miles on the truck in a couple of years. With fewer miles you will pay a premium on the price. You could start with something with higher miles and decide after a year whether you want to plan on a rebuild or trade for something newer. I like the idea of letting the business pay for itself. Start with an older truck that is in good shape and save some of the profit to buy a newer truck. One key factor to me would be driver comfort. International does have nicely laid out sleepers. Most trucks will ride better with a longer wheelbase. I have driven 379 Pete's that ride about as rough as anything on the road. Once you get one that is around 260" wheelbase or longer, the ride is much better. Volvo is a good team truck. The ride is good and it is probably the most comfortable truck going.

If you only need to make $700-1,200/week, you could stay a company driver and make that much money. If you want more flexibility then you may want to buy a truck. You may not have much control over how you run if you sign on with a company that pays mileage. The main reason is that most pay for all miles, so they can dictate more how and where you run. I would check around for an owner operator only company that pays percentage. Depending on the type of freight you pull, you could lease to a carrier and make $!.70-2.25/mile or more. It will be difficult for you to make much money running for $1.30/mile if that includes the fsc. Most of the reputable carriers pass 100% of the fsc along to the owner of the truck. It is a good question to ask. I receive a national fuel price summary each week. From that I can calculate my fsc.

Flatbed freight can and usually does pay more than vans, but some vans do very well, especially during certain times of the year. The down side to flats is that you will need to tarp in all sorts of weather. You also don't see many flatbedders who run team. I think you have about as many owner operators pulling vans and reefers as flats. It is often difficult to tell if a driver is the owner or a company driver. If you pull a van you won't necessarily need to buy your own trailer. Most flat bed companies require you to have your own trailer and equipment. Some will rent you a trailer, but you will still need to buy about $2.200-2,500 worth of tarps, binders, straps, chains, etc., Some will finance the equipment for you with a down payment.