what should I know to be a new Owner Operator

[john]

I only got 3 month experience,but i really don't like to be second driver anymore which i don't have much chance to learn..company got a 02 kentworth truck ask for $25000. I am thinking to lease for it to run from BC to TX & CA ( i used to run ). Before I do that .. Anything I should watch out & be aware of?What should know & ask ? Or anyone know which company in BC may hire me as Owner Operator ? I appreciate everyone's repond.... Thanks

[Pipeman]

Maybe Ralph can provide you with a response nut personally I think you're jumping the gun.

Get your feet wet before you look at getting into a "never never plan" of owning a truck.

THis is not the time to even think of being an owner operator. The reason companies like owner operators is because it costs them less to move their freight than it does with a company driver.

So if company drivers make more money, why would you want to own a truck at this time ??? Remember, we are still in a recession and it's not going away any time soon.

[Maxx]

An '02 KW is likely beat and will need lots of attention and care. Most "good" companies recognize this and won't contract to an o/o with a tractor that old.

My advise, work as a company driver until you have more experience, say 5+ years. Being an o/o might seem to be a good opportunity but there are lots of risks and lots of up front costs that can bury you in debt to the point it becomes impossible to climb out of the hole.

[ralph]

With only 3 months of experience the last thing you need to be doing is entering into ANY sort of a lease, lease purchase or any other plan that gives you the RESPONSABILITY of paying/making payments.

You clearly state that after 3 whole months you don't want to be second driver any more. What exactly does this mean and what is a second driver?

This 02 Kenworth, you don't indicate what model it is. Has it had any DOCUMENTED work done to it. Remember no documents mean NOTHING, anyone can tell you anything! Do you have $10,000 or $15,000 in the bamk? What are you going to do if the engine pukes on your first trip with a load of produce on in Laredo? Now you have 2 problems, a puked engine and a load of produce that's getting older by the hour. Not much stress for a guy that might have 4 months experience is it?

Have you run any numbers? What kind of fuel economy does this truck get? What is the fuel cost per mile? What other day to day costs do you think are going to come your way? What shape are the tires and brakes in? When was the last annual inspection performed?

I really hope that myself and countless others here can disuade you of this. Give it a couple of years, wait for the economy, freight levels and feight rates to find a sense of normalacy. This is a REALLY BAD IDEA!!

[RodeoJoe]

I'm with the others on this one. The only time I made decent money trucking is when I was working for a decent carrier for mileage and hourly wages. I've been both O/O and company driver in good times and in bad and I'll take company driver every time. Pay heed to the excellent advice given and hang on to the second driver job and get yourself some callouses on your sitmedown.

[Highway Flyer]

If your still unsre about taking on a lease, just add up how much your going to make a mile per trip, then subtract fuel & plates & insurance (both for your tractor & personal health) also you need to carry libality insurance for your load, factor in any machincal problems you may incounter (i.e. ... replace tire, turbo, head gasket, so forth) and lesson 1, you would be vary suprised who would under cut you for the load

[hellcat_99]

With only 3 mth's experience, an insurance co may not even look @ you.
It doesn't matter weather it's your trk or a co. trk..
To even think about leasing a trk is nut's. There isn't enough work out there for the driver's otr now!
Slow downs are coming due to the holiday's.
Think & check, over & over before you do anything you may regret.
Holly

[buzzy]

I only got 3 month experience,but i really don't like to be second driver anymore which i don't have much chance to learn..company got a 02 kentworth truck ask for $25000. I am thinking to lease for it to run from BC to TX & CA ( i used to run ). Before I do that .. Anything I should watch out & be aware of?What should know & ask ? Or anyone know which company in BC may hire me as Owner Operator ? I appreciate everyone's repond.... Thanks

You need to know, you'll be bankrupt in 6 months.

[Pipeman]

You need to know, you'll be bankrupt in 6 months.Six months is rather generous.

[pete379]

You should own a big jar of vasoline,and a wallet full of money, you'll need them both!!!!!

[JReid]

Where is John now?

[Doc Martin]

All you need to know is this!

You know nothing. Ignorance is Bliss. Enjoy it!

[brolarter]

man don't do it.. 3 month isn't a scatch on the bucket to even think about doing it.
I've been a company driver for 10 years and thought of being a O/O more than once, but when its all said and done I make the same or more money than some O/O and have nothing over my head.. I can leave a company if I want to and don't have to worry about truck payments, repaint, repairs.. plates, insurance..
If I want a month off I can take it.. With a truck your stuck you have to make payments every month, watching fuel prices at fuel stops pilot , flying J's ect.. everyday to get the best deals
Having cash reserves or credit for on the road repairs.. tires are a big one. I do have one question what do you mean second driver.. Are you slip seating a truck, team driving??
If thats the case get in as a solo company driver, with a deticated truck. in a nut shell its your truck to run, outfit with your gear, power inverter, cooler, microwave.. ect and keep up with mechanical issues by taking it to the company shop.. its like having your own truck with out owning it.. long as you stay out the required amount the company wants you keep the truck..
you can with some companies take the truck home, park it in your yard if you have room.

[mc94xr7]

http://www.truckstopcanada.ca/forum/images/icons/icon1.gif what should I know to be a new Owner Operator


that fuel is over $5.00 a gallon. how the feck are you planning on making money?! lol