Any new guys out there wondering does this guy know what he's talking about?? Should I take this information at face value? I say YES he is dead on the money with his info very accurate very much so. some of the best information I've seen on RUclips or anywhere else. If you're new at trucking or thinking about getting in to it follow this guy.
As an accountant, I definitely agree about taxes...not only the IFTA throughout the year but the federal, state and self employment taxes at year end. The more profit you make, the more you will owe. I would advise everyone to find a good accountant or tax preparer who understands the industry and being self employed
Thanks for breaking all that down Dan, love your videos! You explain it all slowly for some of us that are a bit slow.....like me. this is some of the stuff i wish my accountant would explain to me.
I like the useful information and practical real world facts and figures you put out! It's credible, timely, and well presented. Just found you today and subscribed after one vid. My best!
FREEDOM IS WORTH A WHOLE LOT OF MONEY!!!!! You do as you want within reason and your company agreement of course. Your explanation of your carrier position O-Opp looks like your on solid ground. Thanks
Those numbers are realistic because our neighbor drives as an owner operator and I showed him your video and he agreed with your information. It should be a realistic target for the folks that want to get into the business of owner/operator trucking.
I agree with everything, except my expensive fancy truck is making me more money than my paid for truck was, I have 0 downtime and 0 maintenance cost and that actually makes my operating cost less.
Great example. Thanks!! But what about taxes / permits / other highway use taxes, etc. How do you handle paying Federal and Social Security taxes, etc.
I'm an ex o/o & find this very helpful but 1 thing I'd add to ur video is put away for yearly taxes because it happens every year & many like I did my 1st yr didn't save for it; otherwise awesome video. I'd like to talk to u about Mercer if possible
i wanted enough money to buy the truck and trailer outright, so i didnt have to make payments on it, but i could never save enough, then 2 or 3 accounts, 1 for maintenance expenses, 1 for fuel and 1 for me, and maybe one for taxes, but hadnt thought that far ahead.
It cost to ride in style doesn't it driver, 5mpg sheesh. Subscribed. Your really informative, I'm shocked at your views and subscribers. Are you new here? I just ran across your channel, good stuff. You should have way more traffic, keep it up! Nice PeterCar!
Hi Dan, thanks for the video. I always wanted to know, what kind of money you can make and what kind of money you have to pay for the truck. I watch another Truck driver channel and he makes his costs and salary to a top secret matter.
An owner/op should be making a heck of a lot more than a grand a week! Minimum to the truck should be $2.10. But if you're only making a grand a week, I can make $1700 a week running company! Of course, this video was made in 2016.
Ya see this is the problem I see. Lots of companies are starting new drivers at 1,000 a week + and no headaches no worries clock in clock out. I think for an o/o it'd have to be close to double that to be worth it and to tack on all the extra liability and responsibility.
im leary of leasing anything. when i finished England's driving school and otr with a trainer, they offered the new graduates leases on trucks. starting out at 24 cpm with a lease payment of $600/mo. i'd of never made any money and would of had to stay out more than a month to cover the payment. i said :no thanks" i went solo as company driver, didnt want to do teams either. made pretty good money on my own, did stay bout a month at a time, before taking a break. switched to a lot of companies.
Dan, if your were going to spec a Brand new Pete. How would you build it? Where is the "Sweet spot" on wheel base? I want the "Fancy truck" 300" wheel base, BIG sleeper. BUT, I want it light. Aluminum tanks, wheels, fifth wheel Etc.
Hey how does ifta work? I hear truckers talk about having to pay taxes for the different states they drive in for the fuel taxes. Is that set or does it vary state to state like taxes normally do? If so is that a big significant change between states? Is it something simple enough for you to do by yourself or is it needed to pass through an accountant to break down?
at longest your happy what your doing, it's all about enjoying what your doing.. I used to make more money weekly paid 5 days a week sleep in my own bed and great medical benefits with a pension, and I was not happy.
It's a shame not all companies are true to their O-O's, I know mine isn't. The haul rates are already low, then the company takes 10% or more right off the top before the loads are assigned. We have some customers paying $800-$1,000 or more per load to move their oversize loads but then the company dispatches each of those loads at around $350 a load. It's hard to make money when the company is taking it all then tells us drivers that rates are down. Then in my case before deductions because I pull one of their trailers, they hit me for another 32%. Then for settlement, they take the fuel, insurance's, fuel tax, plates, and oversize permits and when they are done final settlement is not real good and often less than $1,500 for whole week of work. Mind you that is hauling 7 -10 loads a week busting my butt. My only saving grace is that my truck is paid for and I'm up on all my maintenance with brand new rebuilt engine, decent used replacement transmission and new clutch, and 10 brand new virgin tires and new brakes all around. If my situation were different and I were allowed to run the road again, this company would be history in a minute because all they know how to do is screw people. Before the new property, huge new building with huge office, and half dozen truck bays, and all the new added employees from brokers, dispatchers, billing and accounts, and all the new mechanics in our new shop, my settlements were consistently over $2,000 a week. Since we moved into the new building and hired all these people, my settlements now average $800-$1,400 a week. And to boot, all these new company trucks. No doubt, we O-O's are footing the bill for the whole thing, building, employees, and trucks and all of us are struggling. I've been trying to find a buyer for my truck so I can sell and get out of the business except I have so much money invested in my equipment, I'm upside down. Oh how I wish there were a better way.
Dan, does Mercer give you 100% of F.S.C.? In your opinion, is a 53' trailer better than a 48'? What about Aluminum frame Vs. Steel frame? If I sign on with Mercer, do I get to choose my flatbed? New Aluminum 53' adjustable axle is what I'm after.
Also I've heard a lot of people say don't buy a fleet truck because they sell them for s reason and fix them as cheap as possible but I always thought buying a fleet truck would be good idk for example the County trucks in my area are stored in a heated shop always serviced when it's time and preventive maintenance is always done ahead of schedule but why do some drivers say not to buy fleet trucks????
Thanks for your vids. 1.what is deadhead means? 2. when you say Mercer, is it 'Garry Mercer Trucking Inc'? 3. Older truck, paid off good, but then more maintenance, then more time in the garage, this is less time producing. 4. What brand and model, milage and approx. cost is a good 2nd hand truck? thanks a lot!
+lromeroyt Thanks for asking. Deadhead miles are the miles you drive to go get your next load. You don't get paid for those miles. Meaning you don't make any money on deadhead miles.
10,000 miles a month is a lot of miles. I would recommend lowering that down to 8,000 miles/month. There will be days you'll be sitting (snow, one-way loads, maintenance days, home time, etc.). I would also try to buy a trailer outright (save first). I also think your gas price is low and I expect it only to keep going up. I would lower the income to self to $3,000. But the main incentive is, you are working for yourself - driving your own truck (like buying a home vice renting).
If everything is paid who cares if he pays himself or the money sits with the company... either way a driver knows he needs money set aside for a tow bill and repair... a good reason to be paying himself is investing
great videdo and honest numbers. these guys who constantl claim all they haul is 2.00 mile loads I have pulled lousey paying loads to get out of that state ex F lorida.I own my truck and trailers a nd I still have to watch the numbers
The t600 I drive has a c15 10 speed 3.36 gears pulling a 53 foot dry van gets 6.5 to 7.5 mpg is that good bad or average? We make 1.85 for every mile and it's not our trailer. the way we figured expenses the company(I drive for who owns the truck) in the end doesn't make much I'm paid by hour so I always get paid any opinion on this?
Old video, but question you mention you could go drive for a company for 1,000 a week.. but you're only paying yourself 1,000 a week. So what's the point of doing lots of extra work to make the some money as a company driver who doesn't have any of that extra work? Do you cut yourself bonus checks or profit sharing checks? Obviously when the truck is paid for much more, like you said later in the video. How much do you take out for taxes of your own check and insurance plus 401k as well?
Good Evening, I have come across your VLOG, Nice. I am getting ready to retire from the Army after 23yrs in the logistics field. I am getting my CDL and going to Maverick to get money form My GI Bill and get some experience. The goal is O/O in a few years. How does one get on with Mercer if they do not have truck or trailer. Does one need to go out to Bank or does Mercer have a program or is it only for ones that have their trucks or have to go out and get on their own...Thanks Jay. I speak to lots of Mercer drivers over the years as they haul lots of Military Equipment.....
+Ana Marie Winger definitely get a couple of years of experience as a company driver before making the big step before becoming an Owner Operator. If you can go with bank financing for your truck. Mercer offers a trailer lease program but not a truck leaee program. Good luck
Dan thanks for your time. I look forward to learning from your blogs over the next months...I could not agree more.....learning the ropes.....good thing i will also have my monthly retirement check is always nice and of course medical for little to no cost rest of my life........Thanks again Jay.
Dan,enjoy your videos,you tell it like it is. You always have your camera shooting out the front and some non truckers might like some video from aa little further back showing you shifting and the dashboard and all the Gage's we have have to monitor in out daily chores? Was wondering about your list there showing your truck payment and in another video you say your truck is 2003,I would think it should be free of payments now..jim
+Jim epps Thanks for watching Is my truck and trailer is paid for. I was trying show the numbers if you did have truck payment. I'm working on trying to get better in cab shots
what kind of truck do you have, you keep saying you have a older truck I'm looking at a 13 freightliner cascadia with dd15 for 45000 with 470000 mile. what do you think about it?
Time = miles /the miles are repared by the hours and the hours form days and to know how many hours you did that or days would give me a more relevant data, it would help me a lot your answer
+Mark Rob Drug testing. Road use taxes. Quarterly fillings. Think about it everything that a large company has to do to stay legal. Now you have to do as an individual for just 1 driver yourself. You are not going to make that much more money. Unless you can get a direct contract with a shipper and cut out the middle man "the broker"
Any new guys out there wondering does this guy know what he's talking about?? Should I take this information at face value? I say YES he is dead on the money with his info very accurate very much so. some of the best information I've seen on RUclips or anywhere else. If you're new at trucking or thinking about getting in to it follow this guy.
+Bobby Alley
Thanks for watching
Love the video but one of the major factors that is missing is taxes.state and federal I know everyone is different in this aspect though.
He's right on the money
@@SuperTruckerdan yes show us those taxes.state.federal
Taxes is the elephant in the room. Never ever get behind on your taxes.
As an accountant, I definitely agree about taxes...not only the IFTA throughout the year but the federal, state and self employment taxes at year end. The more profit you make, the more you will owe. I would advise everyone to find a good accountant or tax preparer who understands the industry and being self employed
I agree
Thank you for being so transparent! It's very refreshing
Thank You for the honest numbers, Dan.
Thank you for being honest with the numbers
Appreciate the throughly explained video
A very concise explanation of opertating cost and profit as an O/O. Well done. Thanks for sharing.
Really really good information here, thanks so much for sharing!
Very useful info for would be owner/op. Thanks
Thanks for breaking all that down Dan, love your videos! You explain it all slowly for some of us that are a bit slow.....like me. this is some of the stuff i wish my accountant would explain to me.
+Patrick Moccaldi
Thanks for watching
I just included the basic expenses to give you an idea of how to calculate your cost.
this is a nice interesting vlog thanks for explaining this to me.
I like the useful information and practical real world facts and figures you put out! It's credible, timely, and well presented. Just found you today and subscribed after one vid. My best!
+Frank Swain
Thank you
FREEDOM IS WORTH A WHOLE LOT OF MONEY!!!!!
You do as you want within reason and your company agreement of course.
Your explanation of your carrier position O-Opp looks like your on solid ground.
Thanks
I figured that was what you were trying to explain,jus got back to Fort Worth from a quick OKCity turn today.Be Safe👍👍🇺🇸🇺🇸
great video, very helpful & honnest.. great work mate
He explains everything the that I want to hear it cuss I won't listen to anyone else but him straight and to the point that's what I like from Dan
Thanks for the awesome knowledge!!
Excellent video!
very informative!
looking for the video where you talk about the trucks, can not find it. love your videos
Good info Dan
Great information
Those numbers are realistic because our neighbor drives as an owner operator and I showed him your video and he agreed with your information. It should be a realistic target for the folks that want to get into the business of owner/operator trucking.
great video. our numbers are really close.
You look nice guy and everything you said it's believable
Thanks for the advice as a owner operator 1.50 a mile reasonable
I agree with everything, except my expensive fancy truck is making me more money than my paid for truck was, I have 0 downtime and 0 maintenance cost and that actually makes my operating cost less.
how much was your truck payment?
Great example. Thanks!! But what about taxes / permits / other highway use taxes, etc. How do you handle paying Federal and Social Security taxes, etc.
thanks dan best explained video around thanks again
This is great stuff.
+Samaki Kubwa
Thanks for watching
5mpg??!!! leaving SO much profit on the table! Getting 7MPG, which is easy these days saves you $18,624 a year!
I'm an ex o/o & find this very helpful but 1 thing I'd add to ur video is put away for yearly taxes because it happens every year & many like I did my 1st yr didn't save for it; otherwise awesome video. I'd like to talk to u about Mercer if possible
i wanted enough money to buy the truck and trailer outright, so i didnt have to make payments on it, but i could never save enough, then 2 or 3 accounts, 1 for maintenance expenses, 1 for fuel and 1 for me, and maybe one for taxes, but hadnt thought that far ahead.
Nice Video !
The first video you made on this was good.
very useful. thanks
Good info thancks
It cost to ride in style doesn't it driver, 5mpg sheesh. Subscribed. Your really informative, I'm shocked at your views and subscribers. Are you new here? I just ran across your channel, good stuff. You should have way more traffic, keep it up! Nice PeterCar!
+Blast Off I started posting videos a couple of months ago.
Tks fir the info...
Try turning a profit at $10.50 a gallon of diesel. That's the price here in England. 🏴🇺🇲
Hi Dan, thanks for the video. I always wanted to know, what kind of money you can make and what kind of money you have to pay for the truck. I watch another Truck driver channel and he makes his costs and salary to a top secret matter.
That would be quality in Indy. They got me for $800 a week a couple years ago.
An owner/op should be making a heck of a lot more than a grand a week! Minimum to the truck should be $2.10. But if you're only making a grand a week, I can make $1700 a week running company! Of course, this video was made in 2016.
Ya see this is the problem I see. Lots of companies are starting new drivers at 1,000 a week + and no headaches no worries clock in clock out. I think for an o/o it'd have to be close to double that to be worth it and to tack on all the extra liability and responsibility.
good video
im leary of leasing anything. when i finished England's driving school and otr with a trainer, they offered the new graduates leases on trucks. starting out at 24 cpm with a lease payment of $600/mo. i'd of never made any money and would of had to stay out more than a month to cover the payment. i said :no thanks" i went solo as company driver, didnt want to do teams either. made pretty good money on my own, did stay bout a month at a time, before taking a break. switched to a lot of companies.
I hammered out the numbers out many times to operate a truck before profit. It runs about 1.00 a mile.
Dan, if your were going to spec a Brand new Pete. How would you build it? Where is the "Sweet spot" on wheel base? I want the "Fancy truck" 300" wheel base, BIG sleeper. BUT, I want it light. Aluminum tanks, wheels, fifth wheel Etc.
Great video Dan, does Mercer lease to 1 ton truck with flatbed trailer “hot shot” owner operators?
Hey how does ifta work? I hear truckers talk about having to pay taxes for the different states they drive in for the fuel taxes. Is that set or does it vary state to state like taxes normally do? If so is that a big significant change between states? Is it something simple enough for you to do by yourself or is it needed to pass through an accountant to break down?
Thanks for that info. How can I contact you? I have a little more questions. Thanks for all your videos
at longest your happy what your doing, it's all about enjoying what your doing.. I used to make more money weekly paid 5 days a week sleep in my own bed and great medical benefits with a pension, and I was not happy.
You enjoy trucking over what you used to do? What was that old job if you don't mind my asking.
thanx for your honesty, just curious ,how long you been with Mercer?
+Bigdog Bulldog
6 years
It's a shame not all companies are true to their O-O's, I know mine isn't. The haul rates are already low, then the company takes 10% or more right off the top before the loads are assigned. We have some customers paying $800-$1,000 or more per load to move their oversize loads but then the company dispatches each of those loads at around $350 a load. It's hard to make money when the company is taking it all then tells us drivers that rates are down. Then in my case before deductions because I pull one of their trailers, they hit me for another 32%. Then for settlement, they take the fuel, insurance's, fuel tax, plates, and oversize permits and when they are done final settlement is not real good and often less than $1,500 for whole week of work. Mind you that is hauling 7 -10 loads a week busting my butt. My only saving grace is that my truck is paid for and I'm up on all my maintenance with brand new rebuilt engine, decent used replacement transmission and new clutch, and 10 brand new virgin tires and new brakes all around. If my situation were different and I were allowed to run the road again, this company would be history in a minute because all they know how to do is screw people. Before the new property, huge new building with huge office, and half dozen truck bays, and all the new added employees from brokers, dispatchers, billing and accounts, and all the new mechanics in our new shop, my settlements were consistently over $2,000 a week. Since we moved into the new building and hired all these people, my settlements now average $800-$1,400 a week. And to boot, all these new company trucks. No doubt, we O-O's are footing the bill for the whole thing, building, employees, and trucks and all of us are struggling. I've been trying to find a buyer for my truck so I can sell and get out of the business except I have so much money invested in my equipment, I'm upside down. Oh how I wish there were a better way.
Dan, does Mercer give you 100% of F.S.C.? In your opinion, is a 53' trailer better than a 48'? What about Aluminum frame Vs. Steel frame? If I sign on with Mercer, do I get to choose my flatbed? New Aluminum 53' adjustable axle is what I'm after.
Also I've heard a lot of people say don't buy a fleet truck because they sell them for s reason and fix them as cheap as possible but I always thought buying a fleet truck would be good idk for example the County trucks in my area are stored in a heated shop always serviced when it's time and preventive maintenance is always done ahead of schedule but why do some drivers say not to buy fleet trucks????
did you happen to add rego of trailer and truck ? and also do you include food while away?
Thanks for your vids. 1.what is deadhead means? 2. when you say Mercer, is it 'Garry Mercer Trucking Inc'? 3. Older truck, paid off good, but then more maintenance, then more time in the garage, this is less time producing. 4. What brand and model, milage and approx. cost is a good 2nd hand truck? thanks a lot!
+lromeroyt
Thanks for asking.
Deadhead miles are the miles you drive to go get your next load. You don't get paid for those miles. Meaning you don't make any money on deadhead miles.
10,000 miles a month is a lot of miles. I would recommend lowering that down to 8,000 miles/month. There will be days you'll be sitting (snow, one-way loads, maintenance days, home time, etc.). I would also try to buy a trailer outright (save first). I also think your gas price is low and I expect it only to keep going up. I would lower the income to self to $3,000. But the main incentive is, you are working for yourself - driving your own truck (like buying a home vice renting).
If everything is paid who cares if he pays himself or the money sits with the company... either way a driver knows he needs money set aside for a tow bill and repair... a good reason to be paying himself is investing
great videdo and honest numbers. these guys who constantl claim all they haul is 2.00 mile loads I have pulled lousey paying loads to get out of that state ex F lorida.I own my truck and trailers a nd I still have to watch the numbers
randy norsworthy - $2.00 miles aren’t hard to find, the question is, how big of a percentage is your carrier taking?
The t600 I drive has a c15 10 speed 3.36 gears pulling a 53 foot dry van gets 6.5 to 7.5 mpg is that good bad or average? We make 1.85 for every mile and it's not our trailer. the way we figured expenses the company(I drive for who owns the truck) in the end doesn't make much I'm paid by hour so I always get paid any opinion on this?
What average should i expect from dry nav or reefer
40 years ago we were running 1buck a mile in Canada how do u justify buying an replacement
What's their pay like now pulling my own trailer?
How much of that get's set aside for taxes?
So after taxes 30k ? Good video
GREAT Video with Great information & content well explained Thank's for the knowledge that you share & Safe Travels to you!!""TruckingGameStronG""
$1.50/mile wether you own outright your truck and trailer or wether you're making monthly payments on them?
Old video, but question you mention you could go drive for a company for 1,000 a week.. but you're only paying yourself 1,000 a week. So what's the point of doing lots of extra work to make the some money as a company driver who doesn't have any of that extra work? Do you cut yourself bonus checks or profit sharing checks? Obviously when the truck is paid for much more, like you said later in the video. How much do you take out for taxes of your own check and insurance plus 401k as well?
and what about the Highway ..IST free in USA?
Good Evening, I have come across your VLOG, Nice. I am getting ready to retire from the Army after 23yrs in the logistics field. I am getting my CDL and going to Maverick to get money form My GI Bill and get some experience. The goal is O/O in a few years. How does one get on with Mercer if they do not have truck or trailer. Does one need to go out to Bank or does Mercer have a program or is it only for ones that have their trucks or have to go out and get on their own...Thanks Jay. I speak to lots of Mercer drivers over the years as they haul lots of Military Equipment.....
+Ana Marie Winger definitely get a couple of years of experience as a company driver before making the big step before becoming an Owner Operator. If you can go with bank financing for your truck. Mercer offers a trailer lease program but not a truck leaee program. Good luck
Dan thanks for your time. I look forward to learning from your blogs over the next months...I could not agree more.....learning the ropes.....good thing i will also have my monthly retirement check is always nice and of course medical for little to no cost rest of my life........Thanks again Jay.
Your truck averages 5 mpg for all miles? That’s really horrendous. Anywhere between 6.5 and 7.5 should be very attainable.
It was an old truck. I bought a newer truck much better fuel mileage
Dan,enjoy your videos,you tell it like it is.
You always have your camera shooting out the front and some non truckers might like some video from aa little further back showing you shifting and the dashboard and all the Gage's we have have to monitor in out daily chores?
Was wondering about your list there showing your truck payment and in another video you say your truck is 2003,I would think it should be free of payments now..jim
+Jim epps
Thanks for watching
Is my truck and trailer is paid for. I was trying show the numbers if you did have truck payment. I'm working on trying to get better in cab shots
I know Mercer has a lot of Flatbed and Step Deck freight but how does the van freight look at Mercer?
+BIGHIT77241 I see a lot of van freight on our board and some of the rates don't look too bad.
Why not run under your own DOT? You are leased on to a carrier authority who deals with a broker?
can u do it less than 7 days??
What’s a fuel surcharge
What happened to Dan? MISS your videos
What per mile for van, step deck?
pulling a van would be a little less?
by truck payment do you mean you lease a truck what if you buy it
+zaur aigounov
It can be lease or regular truck payment
what kind of truck do you have, you keep saying you have a older truck I'm looking at a 13 freightliner cascadia with dd15 for 45000 with 470000 mile. what do you think about it?
+J j601
Thanks for watching
My truck is a 2003 Peterbilt with C15 cat. The truck you described sounds good. Not to many miles
SuperTruckerDan i see, im lookin to pay for it up front i been drivin since 06. this is wat im fixing to do on side and cut back working so much...
+J j601
If you can get to where you have little to no truck Payment you should do fine.
SuperTruckerDan ok thanks
Hooah
What time you did it or how many hour
Time = miles /the miles are repared by the hours and the hours form days and to know how many hours you did that or days would give me a more relevant data, it would help me a lot your answer
What if you got you own authority
+Mark Rob
Then the numbers would be different. I've never had my own authority. WAY to much of a headache for me.
SuperTruckerDan Just curious if you never had your authority, how you know it's a headache
It's way more stuff to keep up with, you really need a planner on hand
+Mark Rob
Drug testing. Road use taxes. Quarterly fillings. Think about it everything that a large company has to do to stay legal. Now you have to do as an individual for just 1 driver yourself. You are not going to make that much more money. Unless you can get a direct contract with a shipper and cut out the middle man "the broker"
+Mark Rob
Thanks for watching
That video was just to show the basics. It would take hours to go into detail of all the small expenses.
DEF fluid?
Not on this truck! 🚛💥💨
Btw, stop being so conservative lol. I know your older, but go get you some money driver haha, you should be making more which you know.
Dan which company pay good money??
To The Truck is a big lie, look at your paperwork, they take 25% of every load
+Drone Trucker
No the numbers I use is your money after they take their %. Watch again and listen closely.
Do you have an email address?
+C W Diego19 you can email me at truckerdan@yahoo.com