Bying My Own Truck

Hey everyone I been contemplating bying my own truck but as I do my research I'm having a really hard time finding info on what the requirements are my main concern is experience I've been driving trucks in general for almost 7 years now almost 2 of those years are over the road flat bed experience but none of it is recent I've been out of the driver seat for almost 3 years now so I guess what I'm trying to ask is does anybody know if banks require me to have recent otr experience or is what I have now ok even though it's not recent and if I make it that far will a company consider hiring me as an owner operator with out any recent experience? Thanks in advance.

Welcome Dave. Because we're focused on helping new drivers get started in the industry we have a policy that we don't really discuss owning or leasing a truck. New drivers coming into the industry shouldn't be considering either of those until they have some experience so we really don't cover it.

But I think the bigger hurdle you'll have to deal with is the insurance company. I don't think you'll have a problem finding financing if your credit is good. But getting insured without recent experience might be a problem. So I would speak with some insurance companies on the matter.

And of course if you can't work out a deal to buy a truck you can certainly work out a deal to lease one from someone but once again you're going to run into the problem that most companies are going to require some sort of refresher course before they'll put you back on the road, even as a lease driver.

I would talk to some trucking companies and some insurance agents to find out what your best options are in this scenario.

Thank you for the reply I'm sorry I broke the roles there. But I guess I haven't thought about getting insurance as being a problem that's a very good point maybe my best bet would be just to go as a company driver for at least a year to get back into the swing of things then maybe consider buying or leasing.

Thank you for the reply I'm sorry I broke the roles there. But I guess I haven't thought about getting insurance as being a problem that's a very good point maybe my best bet would be just to go as a company driver for at least a year to get back into the swing of things then maybe consider buying or leasing.

That would be a perfect plan in my opinion. It takes a lot of hard work and smart decision making over a long period of time to run a successful business. You have to be immensely dedicated. But it doesn't take any skills or very much time at all to dig yourself a really deep hole financially if you make just a few bad decisions over the years or you get sick or you get injured, etc.

So it's always best to make sure you're armed with enough knowledge and experience in an industry to have a shot at being successful with your own business. And even then there's no way to learn enough to avoid making a few big mistakes and hard lessons so you have to account for that with some solid cash behind you right from day one.

Take your time and do the research.