I need your wisdom before I make the biggest purchase of my life.
Posted by hannosh9@reddit | Truckers | View on Reddit | 17 comments
I'm seriously considering buying my first truck and going owner-operator, but before I pull the trigger, I want to hear straight from the people actually running these roads — not brokers, not YouTube videos, not outdated articles.
Can you help me understand what rates actually look like right now?
A few things I'm trying to figure out:
What are the market rates running per mile in your lane/region?
Is it worth chasing contracts early on?
Are rates improving, holding steady, or still soft from the past couple of years?
I'm not trying to get rich quick — I just want to go in with realistic expectations so I don't blow up my finances in year one.
If you've been doing this for a while, even a rough ballpark of what a new O/O can realistically expect to gross per mile right now would mean the world to me. Drop your experience, region, and freight type if you're comfortable — I know it varies a lot.
Appreciate any honest insight.
MrPotato4217@reddit
Right now is probably one of the worst times ever to be considering buying your own truck.
Normal_Pepper57@reddit
We parked our truck and trailer in January and went to work as company drivers. We feel free if all the crippling expenses that we had with our own company. Insurance was $2400 a month, diesel was almost $10,000 a month…not to mention cost of repairs/tires, etc. We are now making about $10,000 each per month (gross) and have zero truck fees (with the exception of the yard where we parked our equipment). We miss the freedom we had with our truck, but we are loving the extra money.
ohhrangejuice@reddit
I work for a brown company, while we are treated well i cannot imagine what itd be like as owner op. We have our own shops so we just pull up with whatever issue we find on pre trip and its done. Tank is always full never a concern. From shop visits to tires and all in between it must be expensive.
Exciting-Car-3516@reddit
First of all, you do not want a truck payment. Buy and older truck cash. Second are you running with your authority or someone else? If you run your own authority you shit outta luck. No broker will book you unless your authority have been established for at least two years (insurance) third, what freight are you running and where. My thoughts. Not a good time to gather info and enter. I run springtime fall, you do not want to run winter time. Second ask around local biz that need transit you can make lot more hauling direct than using a broker. Lastly. Your rate depends on all the previous. Always push for max rate and as sure you have fuel surcharge baked into the contract.
Dry_Mobile1190@reddit
Are you looking to do reefer? Car hauler? Flat bed?
The biggest thing most people over look is maintenance costs. Make sure to set 10-15% aside every trip and be ready to wat a 20-40k bill. We bought a 2016 Peterbilt 389 car hauler for nearly $200k and had to drop another $40k on an overhaul first trip in after the engine crapped itself.. dealer warranty didn't cover Squat either.
4 years later though, that truck is paid off and brings in $500k+ gross a year
LASTOBS@reddit
How much experience do you have.
What trailer do you have?
Since you said owner op I’m gong to assume you are leasing on to a carrier
hannosh9@reddit (OP)
I had two years experience of OTR, and one and half years of local, total of three and half years but i haven't driven for the last two years. Now i am thinking of going back and doing my own business. I don't have anything yet but i am planning to just collect information for the next two months before getting in to it. I am planning to buy a 2018 or 2019 used truck. Still thinking about it. I want to be as ready as possible before starting anything.
MegaDuck71@reddit
Get your MC numbers and let them and this thought marinate for a bit.
Existing_Inside5200@reddit
Can you get your MC without having a truck? I've wanted to get my MC to let it season before I start anything but I thought you needed insurance during the application? That's the biggest thing holding me back...
SkribbyCakes33@reddit
You can apply for MC but you need vehicle AND proof of active insurance (this is the big thing) to get it pushed through.
Unfair_Analysis_3734@reddit
You can put a shitty old 85 pickup truck on the policy that’s worth $500 and pay like $200 a month.
hannosh9@reddit (OP)
I am not sure if i am going to get my own MC number. I can run under another company (not saying that i would). And i am not looking to buy the truck now i just want to collect as much info as possible before doing anything. Thanks for for letting me know that it takes time to get the MC number, i was estimating it to take about two months.
LASTOBS@reddit
I would run under a established carrier until you get experience and a trailer
egivan6903@reddit
My advice work for an OTR company for a bit out of your own state or if u have a friend that does and just to get an idea of paperwork and permits that you may need to get if the company is OTR General Freight chances are you’ll need the same paperwork they have… I’m not an OO but that’s wht I would do if I was going to buy a truck and run it
Pm_Me_Mtn_Bikes@reddit
The truck and trailer are the least of your worries. How much you got saved for insurance? You’re looking at ~16k first year with like 5k down. Do you know what permits you need for the state you’re gonna be in? It’s a long roller coaster.
hannosh9@reddit (OP)
I am not thinking of buying anything yet at least for another two months then i would be thinking about it. But i would be looking at something in that year range when i would want to buy. I live in Ohio. And no i dea for the permits yet. I have about 55K saved and want to open my own business with. Wanted to study everything to see if it's worth getting in to it.
the_pale_horse_rider@reddit
I work for a ltl company and ive seen too many owner ops transition into employee status.. but if I were to go that route id get my own authority first and foremost.. if you work under another they can drag you along so you can barely breathe