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Originally Posted by ao6376
25 y/o female out of michigan ,looking to become a oo.can anyone help me?what is a good comapny? How hard is it to get financed? I love to drive.
It is difficult to recommend a company without knowing something about the type of freight you want to pull and whether you plan on buying your own trailer along with a truck. As others have noted, this is not the best time to consider purchasing a truck. However, you could probably find a good deal providing you either have the cash or can find suitable financing. Most lenders seem to look for a credit score of at least 650 and a couple of years of experience pulling the type of freight you want to do as an owner operator. They prefer to see some sort of track record. You didn't mention how much experience you have but at your age I am guessing that it is limited. There are leasing companies who may loan money but may have higher interest rates than a regular bank. Most owner operators are having a difficult time. Many are sitting as much as they are running and those who are running seem to find it difficult to get decent rates. Things will turn around, but there is no way to know how long that may take. There are programs such as Select Trucks that will put you in a truck for $1,000 but they will also charge you about $20,000 over retail for the privilege. I suggest staying away from any of the carrier lease purchase programs. There have been some who have made a go of it starting out as an owner operator without much experience, but those are rare and most have a good nest egg to start.
As an owner operator you will do much more than drive the truck. There always seems to be something to do on them. I would encourage you to wait until the economy improves before jumping into truck ownership. In the mean time, save your money and gain as much experience as possible. Think about the type of freight you want to pull. Most carriers require from 6 months to 2 years experience as a driver before they will offer you a lease or contract. If you do decide to go ahead and buy a truck I would suggest getting into a truck with a very low monthly payment. Something around $500/month would be best. With the lower cost of used trucks that should not be a problem.
In any case your questions are always welcome. You will find a very broad range of experience on this forum. Most are willing to share experience and advice.