Owner-operators in the market for a new or used truck could be making one critical mistake, according to one industry expert.
Greg Frary is an advisor with TruckTractorTrailer, a web–based group that helps maximize revenue for companies in the trucking and transportation industry through “connecting people and modernizing processes through technology, accessibility and a unique ‘out of industry’ perspective.”
During a recent interview with Land Line Now, Frary offered his insights and opinions on the topic of purchasing a new or used truck. He said that while finding the right price may be an important part of the equation, finding the right truck for your needs is just as vital.
“The mechanical piece of it is important. You don’t want to buy more truck than you need; that’s just a waste of money,” Frary said. “You also don’t want to buy not enough truck and get yourself caught in a bad situation.”
When looking for a truck, Frary said owner-operators should consider what they will be hauling – as well as where – when making a decision. For instance, he said truckers who haul predominately in the plains would be looking for a very different truck than those who traverse steep mountain grades on a regular basis.
Frary also offered insight on a number of other topics, including what he said is the first thing any potential owner-operator should be asking. You can listen to the full interview below.
For owner-operators looking to get the most out of their business – or for drivers considering making the jump to having their own authority – OOIDA’s Truck To Success course can help.
The three-day course offers in-depth instruction on everything it takes to become and succeed as an owner-operator. Some of the topics covered during Truck To Success include:
- Developing a business plan that works for you
- Equipment financing
- Insurance
- New-entrant safety audit and compliance review
- Drug and alcohol consortium and requirements
- Permits and licensing
- Taxes and business structures
- Brokers and factoring
The course will be held Oct. 22-24 at the Courtyard by Marriott in Blue Springs, Mo. Truckers can register online on the Association’s website. The deadline to sign up is Oct. 1, and the cost for the in-person class is $495 per person.
For those unable to attend in person, an online version will be available via Zoom. The deadline to register for this $250 virtual course is Oct. 21.
There are benefits for early birds: Drivers who register for Truck To Success before Sept. 1 will receive $50 off the price of the course, plus a free one-year membership to OOIDA. LL
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