same here, just trying to get my homework done so when I think the time is right, I can get it done rather than try and do the research at the last minute. I know my friend just jumped right into it and there was A LOT to do in a short period of time. It ended up takeing him longer than it should have simply becuse he didn't research it b4 the fact.

You are doing the right thing by doing some research before you begin spending money. If you have some credit problems then you might want to see if you can improve your scores before attempting to buy a truck. Having a good down payment will help. There are some good buys on equipment. The trick is in either having cash or the credit to buy something. The second is having somewhere to put your truck or get your authority and hit the road running. These days an uneven gait is probably more in order. You can still make a living in this business, even with the current economy. However, it takes a lot more effort to make the same money as a year ago. I spoke with an owner the other day who told me that instead of going home every 2 or 3 weeks he is staying out 2 or 3 months or more just to pay his bills. Others with whom I have spoken tell me that one week is good and the next is off. Having a cheap or no payment is the best way to go if you plan on proceeding at this time.

Geeshock,

Call over to D D Jones and see if they will give you some steady work if you get your own authority. You are in a good area. You can leave tidewater for a good rate and then you can pretty much demand a good rate back to the tidewater area. A good lane would be tidewater to midwest.

I looked into this recently myself. Basically it came to like $3000 a month but that included the miles I assumed I'd run for the month at $.065 per mile for maintenance. It also included a brand new APU which would be mine for a $1 at the end of the lease (24 or 26 months I forget right now). It also included insurance which I am paying through the nose down here in South Florida plus IFTA, plate, permits everything.

I'm still considering it. I just bought another truck for cash, there are a lot of deals out there now, but like I said I might try it out.

The only problem actually was they wanted a big deposit. I told them no to that so he keeps calling me everyday trying to get me to work another angle.

They wouldn't run my credit though I asked them too. Just want a deposit. I'm not going for that.

Thanks for the bite, I've noticed the ports are running prety steady here, not much else but the ports seem to be kicking butt.

They may just be protecting themselves. The way banks are reducing or cutting credit they may be fearful of not being able to collect should you damage the truck. I spoke with a Penske office closer to me after renting this truck. According to them I would need to go through the approval process all over again. The office where I did business before has called me to rent more trucks but I can't see making a profit when you rent one of those trucks unless you either haul your own products or have one heck of a contract with great rates. I made little or no profit the week that I rented a truck after paying the driver and rental. You can buy a truck and make monthly payments equal or less than a weekly rental payment. There is no reason to spend more than $500-800/month on a payment, especially with the price of trucks. I don't know how difficult it would be to get financing. Lower prices make it much easier to pay cash.

Ok, that's where he does ok, he owns a plant farm. He runs his own product. When your running a 53 foot trailer with each rack being about 125 or greater I can better see how he might be able to profit. I guess my next option is to look at the starter truck programs. Guess thats goinna be another thread.

Ok, here is what I found out talking with penskie. They require proof of 1,000,000 dollor coverage on the tractor. You have the option of eather renting a tractor or tractor trailer combo. They do require a credit check but if you put the required deposit up front the credit check won't affect your lease/rental. It's only in place SHOULD you not put the deposit down.

I got the following prices from penskie

for a sleeper cab

135 per day
675 per week
12 cpm ontop of the per day or per week rental

deposit is 2500

trailer

30 per day
150 per week
5 cpm ontop of daily weekly rental

3500 deposit

Figured I'd post these here for others that might need them

also the number is 800-736-7531 if you have any questions for them

The $2,500 deposit will go a long way toward a down payment on a truck that you will own. If you need to pay Penske $675 per week in addition to $0.12/mile then you would pay them over $1,000 per week if you run 3,000 miles. $675+ (3,000*.12) = $1,035 per week or $4,150 per month.


You can buy a box trailer for $3,500. If you have $2,500 for a deposit on a trailer you could probably have enough to pay cash for a trailer that you own. $150 + (3,000 miles*.05) = $300 per week or $1,200 per month.

That means if you rent both a truck and trailer from these people you will pay out $1,335 per week or $5,350 per month and you haven't bought fuel or paid your insurance. If you add the deposits on both pieces of equipment you will spend $11,350 your first month on equipment that you will never own.

You could pay cash for a truck and trailer in 6-8 weeks for what you will spend on deposits and rental and have equipment that is free and clear.

I was kinda thinking the same thin gman. I could get a truck that will last a month and make enough money to probably get something more than if I went this route. I'll save this as a meens to deliver frieght to meet a deadline, lol.