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Feb 12th, 2024
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 Trucking business question
#8495302
01/05/22 01:07 AM
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Joined: Nov 2015
Posts: 220
kkfish
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Woodsman
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Woodsman
Joined: Nov 2015
Posts: 220 |
Do any of y’all have experience or currently owner operators of a truck? I was presented with an opportunity and just ain’t sure if I wanna get into it. Gonna retire early if I do but never doing it or knowing much just ain’t sure. Basically company finances the truck and it’s pulled from pay and u own it after 2 years. 80% of what u gross. Some short in state hauls and some to Ohio Atlanta and such. No cross country hauls. Also I have to get own health insurance. The guy has a good company and handles all repairs and basically refurbishes what u drive of course a portion comes out of ur pocket. Then there’s insurance for truck and probably other things I’ve missed as I’m green to this. Anyway what’s the good bad and ugly.
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Re: Trucking business question
[Re: kkfish]
#8495326
01/05/22 01:49 AM
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Joined: Dec 2020
Posts: 1,423
Sewer rat
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Most of the time deals like that are horrible and I do mean horrible. Are you a truck driver now? It is about as far from retirement as you can get. I have owned a truck and trailer since 2015 and I have my own operating authority but I rarely if ever haul anything for hire. I have the truck to haul my own things but thought I could haul some for hire when things are slow. I tried that 2-3 times and hated it.
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Re: Trucking business question
[Re: kkfish]
#8495334
01/05/22 01:58 AM
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Joined: Aug 2012
Posts: 15,577
TexFlip
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What's the hold back in order to pay off a truck in two years?
Just to make sure that it is done thoroughly, I go both ways.
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Re: Trucking business question
[Re: kkfish]
#8495335
01/05/22 01:58 AM
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Joined: Nov 2015
Posts: 220
kkfish
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Woodsman
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Woodsman
Joined: Nov 2015
Posts: 220 |
No not driver now. I can get license pretty quick and feel I could do that kind of work but just ain’t sure about making that jump. Gonna retire in another year and just pondering something new. Don’t have money to just blow so asking and getting opinions and research since it would be a big investment
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Re: Trucking business question
[Re: kkfish]
#8495337
01/05/22 02:04 AM
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Joined: Nov 2010
Posts: 3,240
Marc K
Veteran Tracker
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Posts: 3,240 |
Waaaay too many details missing to offer a decent analysis!
A Democracy is when two wolves and a lamb vote on the dinner menu. That is why this country was specifically not designed as a Democracy. We are a Constitutional Republic.
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Re: Trucking business question
[Re: kkfish]
#8495342
01/05/22 02:08 AM
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Joined: Nov 2015
Posts: 220
kkfish
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Woodsman
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OP
Woodsman
Joined: Nov 2015
Posts: 220 |
Yeah I will have to get more details
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Re: Trucking business question
[Re: kkfish]
#8495364
01/05/22 02:28 AM
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Joined: May 2013
Posts: 4,091
CharlieCTx
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Assuming you have your CDL and we’re talking tandem truck, there’s certainly a lot chatter about the need for truck drivers. It’s not clear to me if you’re looking to drive a truck no matter what or only considering this specific opportunity.
Would need to provide more detail on the financial picture of what the company is offering around the truck vs financing on your own. Who does the accelerated payoff benefit? Will you net enough during the 2 years to live on? Does he own trucks and just hire drivers in addition to this drive/purchase option? Owning your truck vs driving someone else’s is a lot of fun when they breakdown off the beaten path/small town, your problem vs theirs. If he’s doing all the maint. and then billing you, plus financing a truck for you, just seems odd vs them just hiring you as a driver, IMHO.
Charlie
Kel-Tec RFB + Griffin Sportsman Ultra Light 300 + Pulsar Apex XQ-50
M&P-10 + AAC Cyclone
Remy 700 + Leupold VX3 3.5x10x50 CDS
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Re: Trucking business question
[Re: kkfish]
#8495366
01/05/22 02:31 AM
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Joined: Sep 2004
Posts: 10,855
DannyB
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The aspiration to be an owner operator has put many a good man in the poor house. You absolutely positively have to know what you are doing.
It's a hard life. I went to see my 63 year old younger brother in a nursing home this past weekend. Stroke after over 40 years of trucking.
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Re: Trucking business question
[Re: kkfish]
#8495382
01/05/22 02:52 AM
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Joined: Feb 2010
Posts: 5,660
erathar
THF Trophy Hunter
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Joined: Feb 2010
Posts: 5,660 |
Run the opposite direction at top speed.
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Re: Trucking business question
[Re: CharlieCTx]
#8495390
01/05/22 02:59 AM
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Joined: Nov 2015
Posts: 220
kkfish
OP
Woodsman
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OP
Woodsman
Joined: Nov 2015
Posts: 220 |
Assuming you have your CDL and we’re talking tandem truck, there’s certainly a lot chatter about the need for truck drivers. It’s not clear to me if you’re looking to drive a truck no matter what or only considering this specific opportunity.
Would need to provide more detail on the financial picture of what the company is offering around the truck vs financing on your own. Who does the accelerated payoff benefit? Will you net enough during the 2 years to live on? Does he own trucks and just hire drivers in addition to this drive/purchase option? Owning your truck vs driving someone else’s is a lot of fun when they breakdown off the beaten path/small town, your problem vs theirs. If he’s doing all the maint. and then billing you, plus financing a truck for you, just seems odd vs them just hiring you as a driver, IMHO.
Yes he owns the truck and does all maintenance and provide u with one if u break down and such. it’s urs after 2 yrs so basically ur a contract employee. Mainly dropping tandem loads of pallets. Getting cdl now just in case I do this or other driving such as dump trucks. Don’t know about accelerated payoff. I’ll find out. Thanks for y’all’s help
Charlie
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Re: Trucking business question
[Re: kkfish]
#8495391
01/05/22 02:59 AM
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Joined: Jan 2012
Posts: 29,163
TXHOGSLAYER
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Joined: Jan 2012
Posts: 29,163 |
LETS GO BRANDON
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Re: Trucking business question
[Re: kkfish]
#8495426
01/05/22 03:45 AM
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Joined: Oct 2013
Posts: 5,929
Ol Thumper
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No way in heck I’d do it, I have a big truck to haul equipment with and it’s a freaking nightmare just to keep the thing legal and that’s an “IFFY” word because nobody can tell you what’s actually legal these days and I don’t mess with for hire stuff and insuring loads and log books etc etc etc,,, Herl To The No!!!! I sures heck wouldn’t be in debt to a trucking company either, that sounds like a nightmare in itself to me. If your hell bent on it buy your own,,, lots of money to drop not having a clue if you’ll like it though or stick with it.
Last edited by Ol Thumper; 01/05/22 03:45 AM.
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Re: Trucking business question
[Re: Ol Thumper]
#8495435
01/05/22 03:57 AM
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Joined: Sep 2004
Posts: 10,855
DannyB
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No way in heck I’d do it, I have a big truck to haul equipment with and it’s a freaking nightmare just to keep the thing legal and that’s an “IFFY” word because nobody can tell you what’s actually legal these days and I don’t mess with for hire stuff and insuring loads and log books etc etc etc,,, Herl To The No!!!! I sures heck wouldn’t be in debt to a trucking company either, that sounds like a nightmare in itself to me. If your hell bent on it buy your own,,, lots of money to drop not having a clue if you’ll like it though or stick with it. No, If you are hell bent on it go drive for a company. You have no financial risk. You can learn if this is right for you.
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Re: Trucking business question
[Re: kkfish]
#8495439
01/05/22 04:04 AM
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Joined: Oct 2012
Posts: 29,634
Sneaky
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It would take me awhile to type out all of the red flags I see in this arrangement in what you’ve said, so far. It could be a good deal, but I’m not seeing it. If you’re a year out from retirement, in your current position, why not just ride that out and go from there?
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Re: Trucking business question
[Re: kkfish]
#8495445
01/05/22 04:32 AM
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Joined: Dec 2012
Posts: 4,800
TexasKC
Extreme Tracker
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No offense to the OP but it takes more skill than you might imagine to drive a big rig. I drove a truck for my cousin many years ago and I danged near starved to death. Truth is I have no idea about driving modern trucks but the old IH I drove was a beast. It probably took me 2 months to learn how to properly shift a 5&4 transmission.
In the end, it's not the years in your life that count, it's the life in your years.
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Re: Trucking business question
[Re: kkfish]
#8495463
01/05/22 05:30 AM
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Joined: Dec 2020
Posts: 1,423
Sewer rat
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No not driver now. I can get license pretty quick and feel I could do that kind of work but just ain’t sure about making that jump. Gonna retire in another year and just pondering something new. Don’t have money to just blow so asking and getting opinions and research since it would be a big investment Are you single? If not you may be after you are on the road enough to make it pay out. It would be insane to commit to something like this without driving for someone else first as an employee for at least a year to learn the ropes and see if you like it. I think it is about the worst job on earth and I own one. Parking is an absolute nightmare. Everywhere you go there are way too many trucks and finding a parking spot is ridiculous. The driving itself is very stressful as you have to constantly be super alert. Cruising across the country in a pickup is relaxing. Doing the same in a 80,000 lb missile with a 53’ trailer that takes forever to stop is exhausting with all the idiots on the road. The regulations are insane. You think you will get to the see the country and maybe you do a bit but you can’t stop and enjoy it as you don’t have time and if you did you couldn’t find somewhere to park. It is always a rush. You have limited hours you can legally drive a day so it is always go go go.
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Re: Trucking business question
[Re: kkfish]
#8495492
01/05/22 10:20 AM
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Joined: Nov 2015
Posts: 220
kkfish
OP
Woodsman
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OP
Woodsman
Joined: Nov 2015
Posts: 220 |
Thanks for the input guys. I’m gonna get my license just to have it and explore different options. Heck I wouldn’t mind just getting a dump truck if I could keep it busy enough to justify having it maintenance wise. Just looking for something I can still create a little income and stay busy after retiring.
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Re: Trucking business question
[Re: kkfish]
#8495556
01/05/22 01:17 PM
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Joined: Apr 2007
Posts: 444
HogBranch
Bird Dog
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Bird Dog
Joined: Apr 2007
Posts: 444 |
Get a skid steer and hire out for jobs you want to take. Probably have more work than you want.
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Re: Trucking business question
[Re: kkfish]
#8495615
01/05/22 02:38 PM
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Joined: May 2013
Posts: 4,091
CharlieCTx
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Interesting aside.... I had a bud who retired from the computer business 5 years ago maybe, 100% city slicker, decided he wanted to started a shredding business and do small disc/plow/box blade work to have something to do a few days a week. He loved doing it and was doing exactly what he wanted. Talked to him last night to give him a lead, he's shutting it down, sold his customer list and selling his equipment. He got too busy (6 days a week), was having to turn down work and wasn't paying enough attention to mama.
Take this and HogBranch's idea and give it some thought.
Good luck!
Charlie
Kel-Tec RFB + Griffin Sportsman Ultra Light 300 + Pulsar Apex XQ-50
M&P-10 + AAC Cyclone
Remy 700 + Leupold VX3 3.5x10x50 CDS
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Re: Trucking business question
[Re: kkfish]
#8495661
01/05/22 03:27 PM
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Joined: Nov 2018
Posts: 786
Ktexas14
Tracker
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Tracker
Joined: Nov 2018
Posts: 786 |
I am currently a freight broker, have been in transportation for more than 10 years. I have a CDL, I have done some driving and managed a fleet of 20 trucks contracted to FedEx Ground.
There are a lot better owner operator agreements out there than what you have explained above. It is a hard life to begin with, make sure you want to do it before you dive in and agree to buy a truck.
The idea to get your CDL and dip your toes in is a lot better than jumping in.
That being said, current rates truckloads on the spot market are astronomical right now and have been for the last two years with no end in sight.
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Re: Trucking business question
[Re: Ktexas14]
#8495672
01/05/22 03:37 PM
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Joined: May 2013
Posts: 4,091
CharlieCTx
Extreme Tracker
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The idea to get your CDL and dip your toes in is a lot better than jumping in.
If starting from scratch, how long does it take to get a CDL and how much tandem experience do most of the larger freight companies want before they'll hire you? Charlie
Kel-Tec RFB + Griffin Sportsman Ultra Light 300 + Pulsar Apex XQ-50
M&P-10 + AAC Cyclone
Remy 700 + Leupold VX3 3.5x10x50 CDS
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Re: Trucking business question
[Re: kkfish]
#8495681
01/05/22 03:51 PM
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Joined: Nov 2009
Posts: 4,607
chalet
Extreme Tracker
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Extreme Tracker
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If you are making good money and have benefits this close to retirement then stick with what you're doing. If for some reason you just want to make a change and be a truck driver get a CDL and go drive a company truck for lumber yard or something. Pay is good right now, no financial risk to you and if you decide you like driving look at buying a truck down the road.
If you're married I would not recommend trucking unless you're wife is the independent type and just doesn't want you around.
Shoot. Eat. Repeat.
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Re: Trucking business question
[Re: kkfish]
#8495722
01/05/22 04:43 PM
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Joined: Nov 2015
Posts: 220
kkfish
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Woodsman
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Joined: Nov 2015
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This is great info and gave me a lot to think on and I appreciate the feedback. I’ve been doing what I do for 20 years and have worked since I was 15 and am now 51 and financially can retire and will soon. I’ll figure it out cause don’t wanna just drink more beer lol. I’m not rich but ok so truck, mulcher or something along those lines seemed like a good idea to check into.
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Re: Trucking business question
[Re: CharlieCTx]
#8495730
01/05/22 04:52 PM
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Joined: Dec 2020
Posts: 1,423
Sewer rat
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The idea to get your CDL and dip your toes in is a lot better than jumping in.
If starting from scratch, how long does it take to get a CDL and how much tandem experience do most of the larger freight companies want before they'll hire you? Charlie I got my CDL in 2015. Things may have changed but for me it was a joke how easy it was. I went to the DPS office and picked up the book one afternoon, read it that night, and went and took the tests the next morning. I scored 90+% on all sections. For the road test I rented a truck. I had never driven a semi in my life. The guy I rented from let me drive it 20 minutes or so prior to the road test. I took the road test and passed it first time also with a 90 something percent. It was way too easy to get the license in my opinion. I went the next week and bought a truck and trailer. Insurance is a huge expense many people overlook. Liability for a new driver / new MC number will be north of 20k/yr. As to what employers require I have no idea. A little googling will quickly show you that the majority of the large freight companies treat and pay their drivers like crap. A lot of them lie and mislead you about pay. It seems smaller companies and local gigs are the best options. In general the entire industry is loaded with snakes.
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Re: Trucking business question
[Re: kkfish]
#8495798
01/05/22 06:31 PM
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Joined: May 2013
Posts: 4,091
CharlieCTx
Extreme Tracker
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Extreme Tracker
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My dad had a forced retirement from Pennzoil years ago, started working at an industrial distributor in La, and the state initiated a mandatory CDL license for any commercial driver (this is the early 90's). He was the only guy at the company who passed the test so he was promoted to truck driver.  He did that for 3-6 months then bought his own tandem and ultimately had 6 trucks running. He made decent money, but his number #1 problem was finding good/dependable drivers and he paid better than the running average, tried male and female (though one identified as male). One guy who didn't last long was nicknamed "Driveshaft" given he couldn't seem to drive without snapping one, did it 3 times before he was asked to leave. Charlie
Kel-Tec RFB + Griffin Sportsman Ultra Light 300 + Pulsar Apex XQ-50
M&P-10 + AAC Cyclone
Remy 700 + Leupold VX3 3.5x10x50 CDS
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