I Am Interested In Owner Op

I am interested in the idea of owning my own commercial vehicle someday and I am just gathering information before I make the big decision. One thing that scares me is that it seems every driver I ask seems to think it's not worth it anymore and it's better off being a company driver. I like to think that those are lazy drivers who don't want to work any more.

Two drivers so, far have peaked my interest and gave me quite a bit of information (i.e. leases, insurances, what state is best for leases).

I already have the gist of the accounting side. What I need to know is:

1.) Would it benefit to hire a lawyer to help me setting up my contract?

2.) What tools could me research where the money is at on hauls?

3.) How could I determine what kind of bookie I am dealing with and also, how do I know if I am getting hosed?

4.) Along with leases, insurances (both health and commodity), maintenance... what other payments go along with being an owner OP?

5.) Are there online classes I could take to prepare myself for this endeavor?

Do you have the last 3 years accident free on your cdl with at least 5 years experience? Do you have the money to buy a used truck outright. If the answer is no to either, your battle is going to be a STEEP Mountain to climb.

Im an O/O btw.

I am interested in the idea of owning my own commercial vehicle someday and I am just gathering information before I make the big decision. One thing that scares me is that it seems every driver I ask seems to think it's not worth it anymore and it's better off being a company driver. I like to think that those are lazy drivers who don't want to work any more.

Two drivers so, far have peaked my interest and gave me quite a bit of information (i.e. leases, insurances, what state is best for leases).

I already have the gist of the accounting side. What I need to know is:

1.) Would it benefit to hire a lawyer to help me setting up my contract?

2.) What tools could me research where the money is at on hauls?

3.) How could I determine what kind of bookie I am dealing with and also, how do I know if I am getting hosed?

4.) Along with leases, insurances (both health and commodity), maintenance... what other payments go along with being an owner OP?

5.) Are there online classes I could take to prepare myself for this endeavor?

Over a year ago you made your first post on here, Matt. Today your second post.

In your first one, you complain about hometime. Do you think it would be better somehow as an O/O?

"Be your own boss", "Max miles", "Great money", "Excellent hometime".....? These are on the trailer doors, but mostly not a reality.

This is so true. When company drivers ask me i tell them if they are not currently in the top 10% of their company, they might want to stay where they are. Its always the lazy ones that are running from “some problem” and think this will fix it. I work twice as hard as i did as a company driver.

Over a year ago you made your first post on here, Matt. Today your second post.

In your first one, you complain about hometime. Do you think it would be better somehow as an O/O?

"Be your own boss", "Max miles", "Great money", "Excellent hometime".....? These are on the trailer doors, but mostly not a reality.

I am interested in the idea of owning my own commercial vehicle someday and I am just gathering information before I make the big decision. One thing that scares me is that it seems every driver I ask seems to think it's not worth it anymore and it's better off being a company driver. I like to think that those are lazy drivers who don't want to work any more.

Two drivers so, far have peaked my interest and gave me quite a bit of information (i.e. leases, insurances, what state is best for leases).

I already have the gist of the accounting side. What I need to know is:

1.) Would it benefit to hire a lawyer to help me setting up my contract?

2.) What tools could me research where the money is at on hauls?

3.) How could I determine what kind of bookie I am dealing with and also, how do I know if I am getting hosed?

4.) Along with leases, insurances (both health and commodity), maintenance... what other payments go along with being an owner OP?

5.) Are there online classes I could take to prepare myself for this endeavor?

The short answer to your possible endeavor is this. If it weren't more profitable to the company to lease you their truck...why would they do it? It saves them money in the long run because YOU now have ALL the liabilities and expenses of that truck. If you want to own your own truck someday, work as a company driver and save your money then BUY a truck once you have enough to cover the cost plus $30K-$50K in addition for repairs, illness, time off etc. Most people I hear that did the lease purchase are not making any more than I am, most are actually making much less then me.

1. You probably cannot bring a lawyer into the contract signing, you follow the guidelines they provide or don't lease through them.

2. None I know of. The company you lease from generally sends you loads and you either accept or decline.

3. Most companies I know of broker the loads, not you. So if you chose to lease, you're probably getting hosed.

4. I don't lease so I couldn't tell you all of the expenses. Fuel probably is a big one.

5. Probably not. I could be wrong but usually these are a trial by fire type experience. Most lease purchase people are new drivers and many drop the lease and turn to company driver after a while when they realize it's not worth the headaches and costs and income that come with it.

Now like I said, I don't lease and never would. So maybe I'm wrong about some of your lesser inquiries but I stand by my statement regarding lease purchase being a horrible idea.

I would suggest being a company driver for a few years before you jump into the lease thing. It's not lazy drivers discouraging you from lease. It's smart drivers who know how hard it is to turn a profit in trucking. Back in the day guys knew how to work on their trucks and the pay was exceptional. It's a whole different animal today. I know lots of guys who swear I should go lease and they are pretty passionate about it. The only problem is their numbers never make sense to me. Sort of the way Gore just couldn't get through to the American people about the lock box. It seemed like a good idea and I liked it. I just wasn't ready to risk it all on one guys fuzzy math.

Here’s my solution. Send me all your money for the next 5-7 years. I’ll send back photos of all the cool stuff I buy. It’ll be a much safer investment than what you’re looking to do.