What would you do if you had no truck payments?
 

My 2004 truck is going to be paid off in December 2010. It'll have around 500,000 mi. I'm thinking of hiring a driver and becoming a home-based dispatcher/load broker with own dry van trailer and authority. I played with numbers and it looks that even with 1 driver it's possible to stay home. What do you guys think? I understand the truck will run out of warranty at the same time (2010) but I'm taking good care of it and don't expect severe problems. I'll govern the truck to 60 mph and look for a driver who can drive SLOW. Any comments?

Re: What would you do if you had no truck payments?
 

Do you actually drive that thing? :lol:



Rev; shouldn't talk. His 2004 only has 210,000 miles on it right now, and will be paid off in July of 2010.




To answer your question, just don't use the fact that it is paid off to justify taking lower rates. Personally, I plan to run mine for a few years beyond the payoff date, then sell the truck and get out of trucking completely. I'll be able to stash away the $25,000 a year I was paying in truck payments, plus the sale price of the truck (minus all applicable taxes, of course), and I'll probably use the money to go back to school, since by that time I will be debt free.

Well you are going to need to pay a minimum of 40k to 50k a year to get a somewhat decent driver..... Won't be enough left over to make it worthwhile IMHO.

It is difficult for two people to earn a decent living from a single truck. The problem comes in when something breaks. No driver will take the same care of your truck as you. If you do get a driver in your truck I suggest you keep a close eye on it. Some do a better job of staying on top of pre-trips, check fluids, etc., than others. There have been times when I have had drivers whom I thought were taking care of my equipment, checking fluids, doing proper pre-trips, etc., only to find out they were likely not even checking the fluids on a regular basis. If you do proceed with your idea I would make sure to get the truck back in about every couple of weeks or so and give it a good check. It is your money on the line. It is only a job to most drivers. If you only have a single truck it is usually best to drive it yourself. I can give you some real horror stories about drivers. I have had both good and bad. The bad ones can break you. If you plan on having drivers you should count on buying several trucks. If you have a major breakdown with one truck you are out of business until you repair or replace it. With several you can keep your business and income going.

I use the rule of " Odd Numbers " for equipment.

i.e. as GMAN stated, 1 truck that goes down is not making any money, if you have two trucks and one goes down, then one has to make enough for two. If you have three trucks and one goes down, the oher two can can make up the difference.....

The only solution is to have 3000 trucks.

Thats an even number.....

Now go back to listening to your Clay Aiken collection......

BigDiesel is correct. Odd numbers of trucks seem to work. For instance, 1, 3, 5, 7, etc., seem to make money. Even numbers seem to have a problem making it work, at least in the small number of units.

Okay, fine. 3001. Happy?

I'd like to see these numbers that allow 1 Ontario based dry van to make that much money. A kinda figure each truck would make $10,000 a year so you need about 5 trucks.

But I like to plan on the conservative side.