Stupidest thing I EVER did!!
I let my ego convince me that I could lease a brand new truck and make a living as a solo driver. Five months later after driving 82,400 miles across the US trying to make a living, I realized that I hadn't made any money!! I gained experience, but that was it. I learned my lesson and started to drive for a company which was Walmart. They say a sucker is born every minute. Well, I didn't want to be that sucker.
Biggest mistake I see that most lease drivers make is leasing the truck from the carrier you are going to drive for. If you do this you are a prisoner to them screwing with your financial well being any time they feel like it.
Buying an older truck outright is the best way to go and run on your own authority.
Many people think having something new with a warranty is a must but if you do the numbers ( truck payment+preventive maintenance+down time from warranty work+higher physical damage insurance) you will be paying far more per month cost for that new truck.
Running on your own authority is not as hard or much more work. People are just afraid to do it because it seems overwhelming, but even if you have to use a factoring company you will be making roughly 96% of the load versus the average 75% most companies pay a lease driver.
Many people fall for the schtick of getting a free baseplate, fuel taxes paid etc,.. etc,.. as a sweet deal. The cost for all licensing, baseplate, fuel taxes and such if you only drive 120,000 miles in a year is roughly 7 cents per mile, basically nothing.
To get started out all you need is around 5k for licenses,baseplate and insurance and another 5k in the bank for a buffer which should steadily be built up to 20k so you could cover any breakdown up to and including an engine rebuild.
Have some balls, be your own man or woman and control your own destiny.
The suckers are those that don't at least try.
You still have a chance on becoming an Independent hauler. .......Good Luck.......!
Call me,i can help you & lease purchase i will never sell .. My opinion on carriers & LP well my mama said if i cant say anything nice then don't say it..reach out to i can give you some insight i have been a driver recruiter for 18 yrs
82000 miles and 5 months you were hired by walmart?
Good for you- for realizing that people( i.e.- managers, the "top rung", whatever) are ONLY looking for people they can use to get their "grunt-work" done- congratulations, my friend!!!!!!!
I did same thing, And lost everything. And a company that didn't stick behind me. Ended up homeless. Lost my family everything I held dear was gone. Never ever will I do it again.
Great testimonial, best wishes to you and your family!
Its my birthday.
You have to know what your costs are, or you'll end up paying someone to haul their load.
Walmart pays better than most trucking companies. Follow their rules and you should have a long career with excellent income.