financing

rad_sec1 · Sep 19, 2003

My husband and I would like to start expediting. He's sick to dealth of his job and wants to start over. Can anyone tell me the basics in getting financing on either a van or straight truck? How much of a down payment, etc. I would appreciate any ideas you all can give me.

Thanks!!

redddfeather1 · Sep 19, 2003

My reply is'nt about expediting or financing; however it is about a subject that was on the forum not long ago, and could be a stepping stone to full service expediting. Search the archive for General RV Transporting. This subject came on about a week after I decided to contract with a transport company. This industry doesn't pay as well as $1.00/mile, but money can be made and it's a good training ground for managing your expenses. Furthermore, your risk isn't as great as in starting out an expedite contract without experience: no insurance or truck payment---in my case you're insured through the Co and responsible for a $1000 deductible should an accident occur. You can transport RV's, utility trucks, or buses throughout the US and Canada. You need at least a B-CDL with airbrakes, and a clean criminal history and driving record. Many here suggest driving for an expedite owner before diving into expediting--THIS IS A1 Advice---but what I like about transporting is---You are the boss---in my case I dispatch myself via computer and roam where I wish. Just got back from AB Canada last week and am ready to get back up there as I'm a polar bear. Anyway, as these folks here say----Just my 2 cents.

the federation · Sep 19, 2003

sorry to get off topic here and I guess if needed we could start a new thread. but I have looked at going both ways expediting vs transporting. with the new hos rules I amin a bit of a quandry what to do. perhaps reddfeather you could gives us some details as to avg. earnings per week,who you drive for and how you do your return trips ect. I would be interested in talking to some one whois doing this and likess it. anymore info would be appreciated.

redddfeather1 · Sep 20, 2003

http://www.rvnetlinx.com/htservices.php3 Federation---here is a page you can visit for a bunch of companies in a nutshell. I'm not going to endorse any one company, but mine can be found amongst the bunch. I have been doing this since June and so far net about 800/wk. I've talked with a few veterans of this business and have been told to contract with more than 1 company so that you can keep under load no matter which part of the country you're in. Your overhead is fuel, which has been a killer lately, and your means of returning for reload. I.E., whether you tow a car, bus, or plane to a load and back. I have been busing, but am going to plane to my terminal for the first time this week. Busing is cheap, comparatively, but sometimes a hassle and slowest of the options. I'm also looking into driveaway cars( you sign on with a company to drive a car for a client who needs an auto moved) you pay for the gas---it's like a rental car without the expense. You are limited to what's available. Most of the transport activity for rv's is near Elkhart, IN, but there are other vehicle types moving from all over the US. Go to the archive mentioned in my 1st post for more info and the link at the head of this book. I hope this helps--it's easy to get out from under if you find it not up your alley, but so far, I like the freedom. Hell on family life, but so are jobs you hate}> take care

vernon946 · Sep 20, 2003

rad_sec1, I'll attempt to answer your financing question.

If you have done any looking around, most of the financing out there seems to require 20-25%, because the industry has been burned over the last few years with all kinds of trucking business failures, including expeditors. Financing will be hard.

There are some much better ways to get started though. Look at getting qualified for the job with the company of your choice, then find an owner who will hire you to drive their truck, usually with a 60/40 split. Or find an owner who wants to lease/purchase his truck, which gives you a chance to get started on the cheap and possibly own the truck when finished.

Vernon

rad_sec1 · Sep 21, 2003

Thank you for the info. Can the recruters help us find people who need drivers? We just want to make a decent living and not have to beat our brains (and backs) out any more to do it. Don't mind working hard, but want something in return.

thanks again!

vernon946 · Sep 22, 2003

There might be some recruiters out there who would/could do it, but definitely not until after you have submitted your application, been approved, and possibly attended orientation. I know that FedEx CC maintains a list of owners seeking drivers in their Contractor Relations department, but I don't know about the other companies.

Another choice is by going thru the classified ads right here on this site, as a lot of people here are looking for drivers or to sell their truck in some way. I suspect some would be happy in any old way rather than make payments on an idle truck.

Vernon

Yoke Fellow · Oct 2, 2003

Redddfeather1

Could you tell me where I can get some more info on the RV Transporting and where I could get some work.

Thanks
Yokester

redddfeather1 · Oct 3, 2003

Search "General RV Transport" on the EO archive or go to the link mentioned in post #3. Everything you need to know to get started is there. I keep things more general and less specific for reasons of privacy. GOOD LUCK!