Everyone has already given excellent advice, and you should listen to them.
You are on the right track by figuring your expenses, but many of them are off base. As stated by others, your truck is too expensive, your interest is too high, your estimated miles run is too high, and although you calculated maintenance, you are planning to take it out of your earnings. What if your blow an engine on your first run?
Do you have enough money to replace it?
Go to
How to Become an Owner Operator and Make Money in Trucking: Interactive Cost per Mile (CPM) Calulator to Aid the Owner Operator for an
interactive CPM (cost per mile) spreadsheet calculator. You can put in all different kinds of figures and your CPM, Income per Mile, Income per Day, Cost per Day, Net per Mile, Net per Day, Average Miles per Day and your Expenses to Income percentage will all be calculated automatically. You can play "What If" and figure out how much you
realistically need to make and how much you need to run to turn a profit.
If you figure above an
average of $1.00 per mile income, you are too high.
I have been an owner operator for 37 years, and I haven't seen a slump in the trucking industry this bad in all that time. It gets harder to make a dollar every day. The harder it gets, the more rates are cut, and the more rates are cut, the less you make. It is a vicious circle. I wouldn't advise anyone to become an owner operator at this time.
If you do decide to go for it, I wish you all the luck in the world. You're going to need it!