Long absences can be devastating for families, too.Īlso consider any child custody issues. Long periods of separation can be destructive for even the most stable relationships.
Hard truck 2 secrets drivers#
This is an area of concern that many truck drivers just don’t put enough thought into.īeing away from a spouse, partner and family can cause an endless multitude of issues and problems. Must have a stable relationship or no relationship. Your spending habits and money management will largely determine your success as an owner operator. The owner ops often benefit from lower fuel prices, because of the carrier’s volume purchasing power. Many carriers have a credit card system or use Commdata cards for their owner operators, which are very handy for fuelling. They often lose the truck because their financial situation and spending habits don’t ever change. However, the future is often very dismal for these truckers. Unfortunately, there’s lots of financing companies that can still get you into a new truck, even with poor credit. A mistake by many want-to-be-owner operators, is getting into the trucking business with bad credit or excessive personal debts. Related > Why You MUST Have a Budget as an Owner Operator 2.
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If you do, it could be the ‘death of your career as an owner operator’. If you plan to charge your expenses to a credit card, be sure to make budget allowances to pay these charges, and not carry them long term on your credit card. Have a back up money stash for down time incurred… whether an older model truck or new. You’ll also need a big fistful of cash for working capital, when you’re first starting out: cash for out of pocket expenses, insurance (if you’re an independent trucker), meals, oil changes, unexpected repairs. Sometimes this works, sometimes it doesn’t. Payments will be higher.īut should something go wrong and you’re unable to meet the payments, you won’t lose your down payment, and you can ‘hopefully’ recover it in the sale of the rig. On the other hand, some experts say, go into an equipment purchase with little or no money down. If you don’t have the bucks for a down payment, the whole thing might be over before it starts.Ī substantial down payment will help keep the equipment payments lower and more affordable.
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It’s best to pay a healthy down stroke toward the financing or lease of your rig. 10 Tips Vital to Becoming a Successful Owner Operator 1. They want the independence, freedom and profits, that comes with being an owner operator.īut, there are are many factors to consider and things you should know, before becoming an owner operator and jumping into the money pit, with both feet.Īfter all, the main goal is to be a successful owner operator and turn a profit in your trucking business. Some truckers just don’t want to work as a company driver. It’s a major decision that shouldn’t be taken lightly.Īlmost every truck driver, whether a newbie to the trucking scene or a seasoned vet, has at one time or another, dreamed of owning their own big rig, and hitting the road to make the big bucks. If you are thinking about becoming an owner operator in the trucking business, there are several things you ought to consider.