Any Owner Ops Here?

• Forum Topics Tagged "Leasing A Truck"

Voila! Thank you sir Packrat!

Harvest I can understand your attraction to bright and shinney. There are alot of beautiful trucks on the road.

I am an owner op. I’m leased onto my carrier mainly for better insurance rates. I pull a chemical tanker, and as a general rule have better rates than box freight. I’m doing my taxes for last year now. It is looking like out of 210k my net profit is about 68k. I’m still massaging things a little but that is ballpark. For a good experienced driver that is company wages or less.

I work harder now than I ever did as a company driver. Last year I was on the road 296 days. I do it because I am single and just go and do. When I’m ready I go by the house. I’m retired from law enforcement and need something to do with myself. My retirement pays my bills at home. I’ll pull a load to Ca and go see my grandkids. If I want to stay a couple days or a week thats my decision.

Admire things of beauty and appreciate them. Drive a company truck and learn your craft well. Start looking at the business side of the industry if you want. The more you learn, the more you will understand why there are not more owner operators.

This is a extremly complex industry. The more I learn, the more I realize what I really don’t know. I learn something new everyday.

Stay focused and hone your craft while staying safe.

I am company and flirted with the idea, but there is no point for me.

I ran all of the numbers, and i prefer to always have a newer truck, excellent maintenance crews, the freedom that goes with working with the same dispatchers for years (yes, even as forced dispatch i choose where i wont go.... i just am not given those loads). I also go home more, or take more 34s to enjoy the road more than many owner ops.

i have tons of insurances and 401k, so if i get hurt, i am well taken care of. Not so for many owner ops. And i can just walk away at any moment.

I dont think you are wrong for entertaining the idea.... mamy of us have. But when you really look into it... no one talks about the high downpayment and interest rates for first time buyers, the mechanical issues of used trucks, a d high insurance costs ($15,000 -$20,000 per year is not unheard of).

I have a friend who bought a used truck for $60k. By the end of the 4 year loan, she actually paid $211,000 including all payments, downpayment, required warranty her bank forced her to get that covered NO repairs needed, repairs & maint issues ($35,000 year on, $25,000 third year, $20,000 fourth year).

for less than that she could have bought a brand new truck at Prime and paid it off by 3rd year. and honestly, i dont recommend that to people with less than a couple years experience. By then they should be able to determine the numbers on their own.

and when newbies thing about owning a fleet.... well ONE driver can kill your fleet.

Consider THIS before leasing or buying a truck or fleet