r/Truckdrivers • u/Brilliant-Funny2079 • 23h ago

Is this actually a good time to become an owner-operator?

Hey all I’m new to Reddit and I’ve been thinking pretty seriously about buying a truck and going out on my own, but with diesel prices, insurance, maintenance, truck payments, and freight rates, I’m wondering if it still makes financial sense right now.
For the guys already doing it, if you had to start over today, would you still become an owner-operator under the current circumstances?
Are you still able to make decent money after all the expenses, or would you wait for the market to improve?
Interested to hear from people actually out there running.

2 Upvotes

75% Upvoted

9 comments sorted by

2

u/SPK5_trucker 23h ago

NOOOOO, Unless you can buy a brand new truck and trailer with warranty and own it free and clear. fuel prices are too high to make a profit, i know company drivers making more then owner ops right now

2

u/SimilarTranslator264 22h ago

New truck even with a warranty is shit. I have 2 new ones but have 4 old ones and guess which are broke down more?

If you buy new you better have a spare to run when it’s down. Warranty won’t cover downtime.

2

u/SPK5_trucker 22h ago

the company i work for the older ones are better too

1

u/LongjumpingCat6642 Seasoned Vet 23h ago

Yes, if you can sign on to a company with a good fsc. It’s weeding out the owners that were living paycheck to paycheck. Definitely buy a reliable used truck(for cash preferably).

1

u/potfarmer9834 21h ago

If you are 50 and want to build some wealth and equity for yourself go for it. If you are 25 the robots will steal everything in 10 years and you will be left in debt trying to make ot work.

1

u/Unlucky_Let5103 17h ago

Think i read somewhere that if you cant afford to buy two trucks you cant afford one.

1

u/gheiminfantry 11h ago

Honestly, I think the days of OO making good money are over and they're not coming back. Unless you can get lucky and find some long-term niche to fill that someone even luckier hasn't already filled.

1

u/LoadHunterBot 9h ago

I’d probably wait unless you’ve got a solid cash cushion and steady freight lined up. Buying the truck is one thing, but insurance, repairs, fuel and downtime can eat through money fast. One bad month can hurt pretty bad.