Northland Credit Corporation has over forty years’ experience at financing over the road trucks and trailers. To follow is a summary of how to get into the trucking business and stay in the trucking business.
|Gross Income - 3000/miles per week at 1.50 a mile = 4,500/week||18,000|
|Less: Truck ins. & maint.||-1,000*|
|Less: Rent/House payment||-1,200*|
|Less: Fuel-30% of gross income||-5,400|
|Less: Credit card||-250*|
|Less: Car payment||-350*|
|25% Rule: Allowable for Truck Payment||-1,700|
|*Payments due as a company driver or owner operator.|
As you can see, you just went from a 3,600/mo being a company driver to 10,900/mo. and being an owner-operator. Now you are ready for this road as an Owner Operator.
We hope this was a helpful exercise in how to be successful on the road.