Rich VS Poor Owner Operator (The Cost of Running a Mile & Pay Comparison)
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- Опубликовано: 28 июн 2024
- It's not cheap to drive truck, especially if you're an Owner Operator. The cost of running a mile today vs last year is drastically different.
In this video, Ronen explains the cost of running a mile today and how it has changed since last year. He also wanted to share two pay statements from Owner Operator's in our fleet. Both truck drivers ran the same mileage in the month of September 2022, but one Owner Operator took home WAY more net pay.
Watch to find out why one of these Owner Operator's is a RICH truck driver, and the other is a POOR truck driver!
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Chapters:
00:00 Introduction
00:56 What does it cost to run a mile today?
02:01 #1 Owner operator fuel & energy costs one month
02:38 #2 Owner operator fuel & energy costs one month
02:55 Side by side owner operator fuel & energy stats
03:56 #2 Owner operator monthly pay statement
04:57 #1 Owner operator monthly pay statement
05:32 $10,500 CAD on fuel
05:49 Owner operator comparison breakdown
07:03 Fuel efficient owner operator puts money aside & builds wealth within corporation
07:58 Pay for fuel efficient owner operator every month
08:19 What "money pit" owner operator is doing and failing to build wealth 
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I have a diesel APU and I make 6.4 mpg which is 0.01 less that the poor guy and I'm no where near that category. It's who you work for, not the fuel price.
right at 1.55 per mile ..y truck is at 5.2mpg but i have zero over head. 5500 a year in insurance and run at 3.00 at the current rates. i still make way more than the 8.5mpg truck
@@TheDriller100 definitely I will get no love form ET, but I don't mean to disagree. It's just that those facts are not necessarily accurate. Find a good company to work for and you won't have to worry about fuel, don't forget to have a good record and be professional so you can make yourself worth.
How do you have drivers when you pay so low? I'm honestly confused. Not to mention, the driver with the 2022 cascadia has a loan payment of 3600-4000 dollars a month.
What ever you save on fuel in the new truck, we have to spend it on the payment of the truck and the insurance that is higher with the new trucks.
Agreed, he glossed over this fact by saying it doesn't matter if the truck is paid off, if it's getting less fuel milage.
@@leecole929 did he mention DEF, and all the issues with DEF. I'd take an older paid off truck any day new trucks have just as many problems as older ones. Your girl savings will be spent elsewhere.
That's what I have always noticed on this videos, l love watching them and they're very helpful but when it comes to pay I definitely see that their rates are extremely low.
I really appreciate the high quality content. Very informative. Thanks
Thank you for the positive feedback! Glad you enjoyed the video!
Great information, the more you know.. Thank you🙏🏾
These drivers are both paying to haul your freight, it costs more than a dollar a mile to keep a semi and trailer legally going ..
ThaNx Ronan 🚛 very helpful I appreciate this video and my family 👪 will too
Anytime! Thanks for watching 😊
Very informative video
Awesome video snd very eye opening wow!! I’m taking steps into being a owner operator and will now seriously research for seeking a fuel efficient truck!! Thanks
Glad the video was helpful for you! Thanks for watching!
Do not buy a truck right now. The market is terribly high $$$ for used trucks. Even trying to buy a new rig is outrageous. And never lease a truck. Wait until things level out. Fuel is very expensive. The freight market is about to bottom out. Rates are very low. It will be very difficult for you. Most o/os are parking it until rates get better.
@@loriwerle4895 I’m going to let this new year roll buy, probably around march is when I’ll make my move in getting my own truck and 53’ dry van trailer, lease,rent and at least 85-90 freight,plus maintenance, tires, fuel etc to be negotiated. I know, I know, it’s nearly impossible to get your own shippers in giving you loads but so long as one is allowed to get that permission from whom ever your signing that lease/rental option with, I see huge, huge opportunities in taking that route. In other words…sell yourself, be strongly professional about and no is no but hustle,hustle overrides that.
Get home safe everybody
Thanks for breaking up the pays, idling is for company drivers not for o/o, nowadays, is what you save and what you make on top, don't buy coffee , make coffee, don't buy food make your food, cash back credit not debit card, aerodynamic not classic, even though I love classic trucks, to make the point : savings are too important! And of course , maintance is the next!
Thanks for watching! And thank you for sharing! Great comment with great advice 👍
@@NorthAmerican-Trucking-News how can u help me
👍👍👍👍👍 awesome video
Thank you!
Ok, but you didn't factor in per month repairs on the two different trucks. but thanks for another great vid.
We will work on another video including repair costs!
Looking for the video that did a 1yr pay companion between a city driver and O/O
My question is how many weeks or days of vacation did they take over the course of the year
Fantastic 🎉
👍👍
Both trucks are aero trucks. So how does that work RONEN?!?!?
And I want to know something. How come the Rich 8mpg took a cash advance??? That’s insane. I’m 31 have a Peterbilt 389 and have $130,000 hard cash in my checking.
To need ever take an advance is crazy.
Sounds like that Pete was the right decision for you!!
See how long u have to wait to get any warranty work done at a freightliner dealer the truck ownes you. Payed off truck means you owne the truck. More home time means a better life.
Thank you for the information...
But one think you forgot to add to the guy with a new truck was the monthly payments he has to make which is almost 4k... for the new truck and the 20% he has to put down... So at the end of the day they make same amount or maybe few hundred dollars in different...
But not much different...
But the difference is that you get your 200 k new truck basically for free from the fuel savings
Hello my friends thank you for this fantastic information. Can we know what your software or system that provide all the info on each of your fleet truck ?
How much is the def money also
Thanks now that was very informative I’m an O/O that gets 5.5 mpg. Can’t save any money now I see why🤦🏽♂️
Get an apu
The first problem is that .28 cents a mile fsc. Anyone who accepts that isn't very smart. Ours is at .84 a mile. We also shop along our route for the cheapest fuel. The second problem is $1.55 per mile. I don't understand why someone would haul freight for that little, we're at $2.40 at the lowest, and have been up over $4.00 a mile in the past. Let the cheap freight sit at the docs for a couple of months, and they'll change their tunes.
When we are getting what the cost of running a truck and a profit of a company like ET Transport I’m very curious how midsize and large carriers numbers are in this days . Thanks 🙏
We are opening a terminal in Atlanta, Georgia! Stay tuned for our videos series documenting our journey opening a trucking company in the USA!
You need a minimum of $14,000 net a month nowadays. That will pay your bills and you're not making a good living for your time. Lower than that you aren't properly maintaining your truck, you're not paying yourself a true wage, and you're definitely not investing/saving for your company's future.
Nice information. Have a question for you, as you are experienced in trucking industry. Which province is a hub of trucking industry? I mean which province has the most trucking jobs? And really appreciate for such nice informations that you provide
Best trucking jobs are definitely in Alberta, with wages starting around 40$ per hour and up to 70$ per hour, but the driving conditions are really tough.
I enjoy your videos and find it very sad that anybody pulling your type of trailers is only getting 6 miles per gallon when I can do that with my W9 pulling twice the weight in northern Ontario . Also sad that i net more in a month home nightly than the two of them together
new trucks have a loan payments as well. yes idealing consumes more fuel and money can be saved but at this point 2014volvo is roughly making the same.
Great point!
What ever happened to the dude who was getting like 10 mpg? you were mentioning about him on a previous video, and possibly making a video on that?
Yes! Stay tuned!
How does your fuel card work fuel how much discount you company get having fleets
What mega carrier should I get my 2 years experience with when I get my cdl?
I cant agree with you any more! I have 9 trucks. all of my trucks have APUs and all but one consistently averages over 8.5+ MPG. the fuel saving alone pays for another truck payment every month. My company drivers make more than the O/O with the "money pit" truck. Thanks for the content . keep up the great work.
What kind of trucks/trailers, where do you run and what speed governed??
@@vaghotao All are freightliner Cascadia and we pull utility reefer trailers. Speed is governed to 65 and they run all 48
the money pit truck his talking about makes 1.55 a mile.. my truck is a 5.2 mpg and i still take home 5 times what he did if i run 10k a month l.. l chose to run 3 days out of the week and i still take home after all expenses 18k
You have to be in the right niche of the trucking industry to make good money. There are many variables. I personally don"t know anyone getting over 7mpg unless they are governed at 60 mph. And are losing 50 to 70 miles a day x 6 = 300 miles a week, which can lead to one less load a week. Therefore less money.
Great comment, thank you for sharing! Almost all of the trucks in our fleet get over 7mpg!
Yes I don’t believe 8-9 mpg I know people that have brand new Freightliner Cascadias and get 7-7.5 at best. Prove me wrong with a average trip of atleast 1000 miles .
@@kirkmiller9479 I get about 7.5 mpg in a 2020 cascadia governed at 68 mph
How much is the payment for the 2022 Freightliner vs the 2014 Volvo? There's a good chance the Volvo is far less if not completely paid off. This is a major detail that's glossed over by saying it doesn't matter if the truck is paid off.
Driver probably has a $4k payment on that 2022 Casc where I hope the 14 Volvo is paid for. Works out to about the same as the end of the year, dont know how O/O survive there on those rates. Can make the same as a company driver
Thank you for sharing!
Depends on OO
Independent 00 are spending much less on insurance and maintenance
Some folks can get rich in the same industry some folks can go broke. Tells you a lot about the individual.
Current conversion is $0.75 usd for $1 cad. Assuming gross income is consistent without the fuel surcharge, rich driver’s making $145k usd per year and poor driver is making $138k usd per year.
Can you please make a video (if you haven’t already) comparing a rich owner operator to a poor owner operator’s annual pay statements and break down annual operating costs, reserve savings, and actual net income. It would be nice to have an understanding of the bigger fiscal picture of what you can make vs what it costs to be an owner operator.
You’ll hear owner operators talk about making a bunch of money, but you never hear any of them talk about their annual gross profits, annual net profits, or how much of their annual net profits is set aside to replace their trucks or pay for major maintenance issues vs how much they pocket annually. That kind of information is very important for anyone considering becoming an owner operator.
We’ve had many requests to put together a more detailed video comparing drivers pay and their breakdown/operating costs. We will discuss with the team! Thank you for the comment!
and how come you never mention the mack anthem in the list of fuel efficient trucks?
Good point! Should be added to the list!
28 cents fsc isn’t enough. Challenger is paying 75 cents fsc on September, not mention they have 30-80 cents off the pump price.
Hello ronen, do you hire 98 model Pete's?
Them emissions though 😢
My 2019 W900 KW gets
4.2 mpg if im lucky. I du heavy fuel haul. Im empty almost half the time how i make up on mpg. My truck $$ pit. But i love it.
I rarely idle my truck. 105 at night in Vegas i still wont idle
Thanks for sharing Matty!
You must have named your truck Misery lol
@@I_Died_2_Weeks_Ago
😅😂
Seems that way
Have a good day
I run a brand new 2022 western star 49x. I pull 47,000kgs- 63,500kgs. In bc. I get 6.1mpg. Please teach me how to get over that.
Buth you don't talk about the payment of the new truck each month. If you rest almost $4,000 dollar each month for the new one is almost the same
Cruise on 97-98, MPG is gonna be proper. I, myself have seen how much more I could profit.
👍👍
The guy with the new truck has big truck payment that would take away the money he made.
What's the mpg for the peterbilt 579?
It depends on the specs of the truck (engine, transmission, gears ratio,wheels size,etc) and the person who drives it.
i agree with you 💯 if i had 100 trucks or even 5, but i own 1 truck " 5.3mpg " a 2021 paid in cash flat bed. i run 6800 miles a month at $3.00l, im gone 3 days a week and i take home after fuel 15000k. a month. yes my truck sucks in fuel but a new truck plus insurance would cost me 5000k a month and with the way the economy is ? yes i will eventually upgrade truck but not anytime soon
Then you need to include what is he paying to the taxes at the end of the year
No you need a dedicated route that keeps running every week of the year money pit or no money pit you'll make your money but yes I agree I'd rather have a more fuel efficient truck but a dedicated every week route still makes you more money then a fuel efficient truck... plus this is in Canadian money convert it into us money and 11k cad ain't shit for 10k miles
I have to agree with some of the commenters, two major factors are missing in your videos - weights and loan payments.
What if a canadian truck driver will be paid back , for the load from the states to canada?
which load is paid in US dollars!
No other comment!
Thank you!
🙌🏾
How can I get this chart?
Feel free to take a screen shot!
The rrates this guy is paying is what will cause a owner operator to go broke.
Diesel prices are dropping down. Today 3.60/gallon. Very soon, there will be not much difference. Still on paper, and my rates are much higher then yours. Not bad 6-7mph for N14
You gotta show how much is the guy paying for his truck that's in the newer truck
Not just his net deposit cause it looks like he still gotta pay for his truck after 10k deposit
💖Big Bank Takes Little Bank💖
👍👍
OK but what’s that guys truck payment with the brand new truck? $3500 $4500? So you see either way it’s all relative it doesn’t fucking mad
This guy has some good points but he is missing a lot in the equation. I am believing to think he is really against old trucks, probably because he is in Canada. I will keep my 84" International 9670 and 2005 Freightliner Century, both paid for btw... I will do the best I can to get the best fuel mileage and keep them DOT legal of course but will enjoy them regardless... HOOAH!!!
Who runs for a 1.55 a mile this days I don't run under 2.50 no cheap load
Biggest problem in trucking is there are way to many truck drivers
And yet we always see headlines stating this “Driver Shortage”
Hmm I like your videos . But the main problem is your ripping the lease operators off at $1.55 per mile and your fuel surcharge seems like your dipping in that as well ... $5 per gallon my customers fsc fuel price matrix shows $0.80+ .
Jesus that a shit load of idling
Wow a big 1,55 a Mile plus surcharge, truck note, insurance. The mee truck driver her can't take time off, he will be behind.
I bet this guy has a dealership to direct you too so he can get a percentage of the truck sale.
I don't wanna say anything bad about your video not that bad. But A $1.55 Is cheap. That's what leaves operators make and I still don't understand why they do that either. I will not run anything for less than $2.50 a mile . Where you did not get into that is maintenance breakdown Cost of wearing hair on the truck.. It seems to me like you left quite a bit of stuff out did these drivers actually have to pay . Why would I take a cheap freight even with the fuel surcharge which Not that bad. Why would you only pay an owner $1.55 How much are you actually making per the company we're in the be it's about $3 a mile if not more so you're getting half of what's company is making. if you're going through broker yeah make sure they show you the full freight rate.. And remember never sign a contract to do you know exactly what you're making For that load. You have a good day
1.55 a mile 😢, and 0,09c fuel surcharge? Is this a joke?
He's a stingy man 🤣😂
Where do you see $0.09/m for FSC ? I see $0.28/m
@@5N05L1DR even then 1.83 is trash
okay so what other Canadian companies pay the same or better?
@@5N05L1DR that’s the lowest I’ve ever seen.
Ronen you didn't do the comparison of this year and last year. Shame on you lol.
that’s a whole lot of words to say volvo sucks
Lol! We like Volvos!
I preferred paid off truck, you can breathe easier and more flexibility
I honestly think this video is too complicated. It's just best to figure out the difference in cost in fuel, not adding everything else, which seems irrelevant in this conversation. It's more simple and transparent. If you have two drivers that drive 10k miles a month and one gets 6.5 mpg and one gets 8.7 at $5.15 a gallon. The driver at 6.5 buys 1,538 gallons and pays $7,920.70. The driver at 8.7 buys 1,149 gallons and pays $5,917.35. The difference is $2003.35. That should be the base. Now, your talking ifta which is over a quarter and is based on jurisdiction and should not be taken out like how you did. And if someone does a cash advance they are still getting paid. Most people will not understand what you are talking about. Not new entrants.
Thank you for strongly reinforcing my deep belief! New trucks under warranty are FREE!!! You didn't even touch on the cost of breakdown. In terms of repair and lost revenue, how can anyone survive let alone thrive!
free? 😆😆😆 except the fact that you need to be a slave to that truck 3-4k miles a month l.. . i'll keep driving my 5.2mpg 2000 that puts in my bank 23k a month in 6500 miles .. 3 days work week..
Yeah...no. if you pretend like depreciation, new truck insurance rates, and huge truck payments don't exist then you would be correct. And forget about getting sick or a 2 week break down for the next 7 years while you pay off this debt anchor. And that warranty will disappear around year 3 and mechanics aren't cheap. I would be happy to show head to head numbers how truck ownership is better than truck debt. That Volvo is an efficient truck with an inefficient driver not the other way around .
Stay out of trucking !!!
This fool never explain any rates
The market is no longer affordable to run a truck
I love your videos, but they’re getting so repetitive all you keep talking about is fuel, fuel, fuel fuel yeah we get it, fuel mileage is priority when owing a truck, but does every video have to turn into the importance of fuel economy etc
Thank you for your feedback! Drivers managing their fuel consumption will always be important. We want to remind that to all of our new and returning subscribers 😊
Man no wonder owner operator don't make money with your company. 1.55 per mile. 0.99 cents fuel surcharge?
I run 10000 miles per month net $10000 and my truck is 2007 freightliner 6.5 mpg. And NO PAYMENTS. Still beats your owner operator with 2022 cascadia with PAYMENTS. You didn't even mention that part with the payment
Ronen G. See..... Its about your new turf: Atlanta. Get me a USA phone number. Wil
p͓̽r͓̽o͓̽m͓̽o͓̽s͓̽m͓̽ 🌺
With 8.k mpg truck speed 55mph . I would recommend to replace diesel engine for horses tow. Oats much cheaper.
Them emissions though 😢