I,ve had my CDL for 10 years as a company driver. But thinking about leasing/purchase. Need some help in deciding? I like the thought of having my own truck but want to get ahead money wise. Is the money there?
well here's the
conundrum (an intricate and difficult problem, as defined by Webster's Dictionary).
many of us can simply sit here and say "don't do it".........or, "stay as a company driver", or whatever else.
fact is, if every trucker decided NOT to become an owner-operator, then the larger companies win, and then that could/will lead to sky high freight prices.
my take on it is this, if you have a savings account set up, and you have (say) about 6 months worth of your salary in there, growing interest, then go for it..............IF:
you have a pre-contract agreement with a company
you have excellent credit
you have business sense, or an education in business
you have many years driving experience (which you do have)
you can handle the cost of doing business on a daily basis WITHOUT tapping into your savings account
you get the right truck, spec'd out for the job
you buy a very good used truck, to build up your reputation/credit with the bank(s)
you do SOME of the PM services the truck needs, and STAY ON TOP OF THIS....
you watch the pennies.......these will cost you more than the dollars.....
you don't limit yourself to one carrier. you have "back-up" carriers in slow times, to get you through.