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?

 

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.

 

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

 

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: ).