So you wanna be an expediter?

[x06col]

I am not sure those options are as limited as you think. Rates for specialized freight continue to fall with way too may units out there. If you have small or no payments, I think you are in good shape. If one is to buy one of these units new, the rates and amount of loads don't justify the expense.
The revenue just isn't there like it was several years ago. If I was to invest 180K, this isn't where I would do it.
If they did, I wouldn't see these kinds of cancelled trucks.
Looks like someone figured it out at the last minute.
2008 KENWORTH T660 Expeditor/Hot Shot Truck For Sale At TruckPaper.com
2008 KENWORTH T660 Expeditor/Hot Shot Truck For Sale At TruckPaper.com

Two different trucks that are spec ed the same.

But Dave, If it had tousand dollah leather seats, wouldn't it be worth it? Then yer drivers could turn down them good pay'in loads for which the truck was intended....because they wouldn't want the seats scratched during a security search. An everyone is happy ever after. Right?

 

[OntarioVanMan]

you'd think with $1000 seats you'd have temporary seat covers for security checks???

 

[davekc]

But Dave, If it had tousand dollah leather seats, wouldn't it be worth it? Then yer drivers could turn down them good pay'in loads for which the truck was intended....because they wouldn't want the seats scratched during a security search. An everyone is happy ever after. Right?

Didn't think of that.Once again I have overlooked the obvious.

 

[highway star]

I still believe that a recession can be beneficial to the expedite industry.

Hey Moot, I've got a bridge for sale. It's in northern Michigan, about 5 miles long. It's fairly popular. If your interested I'll give you a good price.

 

[bryan]

HI
Oh yeah and just remember if you fail they don't just take away the truck and your life goes back to normal.First they call you atleast 5 times a day everyday starting at 08:00 till 21:00.Then they hire a private investigater that you have to pay for.Then they send the repo man with a tow truck which you have to pay for.Then they sell the truck at an auction usually for 50 to 60% less than you owe if they can get anybody to bid on it at all.Then they subtract from the amount that they sold the truck for from the amount owed to the bank, the PI fees, the auction fees, the tow truck fees, penalties and prossessing fees.So that $180,000 truck that you made payments on for 6 months will probably cost you $100,000.You better have a really good paying job or a house that you don't live in that you can sell.Also your car and home owners insurance premiums will increase and some employers are now doing pre-employment credit checks.Oh and by the way they can force you to liquidate all of your assets including boats, cars, tools, home,and furniture.Another thing that they have started doing here lately is calling anybody in the phone book who has the same last name as you and calling your neighbors.Take it from someone who is going through this it is no fun and everday it just gets worse.

So just keep that in mind the next time you feel like just jumping in.
I was a successful expediter for 12 years and was 7 payments away from owning the truck free and clear.

 

[layoutshooter]

Gee Bryan, I used to repo for a bank, you seem to know stuff that I never heard of. PI? We never needed one. There is a secret, don't let it happen. If you are going under turn the truck in. It costs you much less. There are ways to protect important assests like your home. Failing at business does not have to be the end of you life, unless you make it that way. Layoutshooter

 

[x06col]

HI
Oh yeah and just remember if you fail they don't just take away the truck and your life goes back to normal.First they call you atleast 5 times a day everyday starting at 08:00 till 21:00.Then they hire a private investigater that you have to pay for.Then they send the repo man with a tow truck which you have to pay for.Then they sell the truck at an auction usually for 50 to 60% less than you owe if they can get anybody to bid on it at all.Then they subtract from the amount that they sold the truck for from the amount owed to the bank, the PI fees, the auction fees, the tow truck fees, penalties and prossessing fees.So that $180,000 truck that you made payments on for 6 months will probably cost you $100,000.You better have a really good paying job or a house that you don't live in that you can sell.Also your car and home owners insurance premiums will increase and some employers are now doing pre-employment credit checks.Oh and by the way they can force you to liquidate all of your assets including boats, cars, tools, home,and furniture.Another thing that they have started doing here lately is calling anybody in the phone book who has the same last name as you and calling your neighbors.Take it from someone who is going through this it is no fun and everday it just gets worse.

So just keep that in mind the next time you feel like just jumping in.
I was a successful expediter for 12 years and was 7 payments away from owning the truck free and clear.

Here is a classic example of WHY one should double up on a few payments over time steada adding to the toys pile it seems. Jes gitt'in by, never has, don't now, an never will work very well in the grand scheme of things.

 

[miker]

Here is a classic example of WHY one should double up on a few payments over time steada adding to the toys pile it seems. Jes gitt'in by, never has, don't now, an never will work very well in the grand scheme of things.

Col- I actually understood what you said here,that doesn't happen very often. As for the quote " I was 7 payments away from owning the truck" doesn't seem like much, but were the payments, 7 payments of 2000.00 is a tough thing to handle with no work.

 

[Jack_Berry]

even a sprinter payment of $850.00 is hard to make when the per mile is under 80 cents and the mileage is not available.

 

[x06col]

Col- I actually understood what you said here,that doesn't happen very often. As for the quote " I was 7 payments away from owning the truck" doesn't seem like much, but were the payments, 7 payments of 2000.00 is a tough thing to handle with no work.

Oh I understand 2K is a lot of cash. However, what did the boat cost? Or the new pickup we didn't need. Or the extra time we took off? Or?? All this when times were good. Even at a sum of 14K, I tink maybe I coulda "squeezed" that out from somewhere over a period of several years. I just feel there are a hunnert reasons (read excuses) that some fall on hard times, an the very, very vast majority of "reasons" are in fact self inflicted.

In business way too many don't understand that ya gotta take care of [the] business even before you buy that loaf of bread. If your source of getting the bread isn't sustainable you go away.

 

[BillChaffey]

Bryan:
Google "Fair Credit Act" Your getting hosed or exaggerating your circumstances.

 

[greg334]

Actually, the question is who are they? A bank, credit card company, people with bent noses?

 

[Humble2drive]

Since this is the Newbie's Paradise Forum I would like to point out some valuable lessons for Newbies to make note of:

HI
Oh yeah and just remember if you fail they don't just take away the truck and your life goes back to normal.First they call you atleast 5 times a day everyday starting at 08:00 till 21:00.

If you are going to fall behind on payments, call your creditor and try to negotiate terms before it is necessary for them to call you.

Then they hire a private investigater that you have to pay for.Then they send the repo man with a tow truck which you have to pay for..

If you are in constant contact with them, there will be no need for a PI.
If it comes to the point that the creditor wants the truck back, you will be able to arrange to drop it off so that a "repo man" does not need to get involved.

Then they sell the truck at an auction usually for 50 to 60% less than you owe if they can get anybody to bid on it at all.Then they subtract from the amount that they sold the truck for from the amount owed to the bank, the PI fees, the auction fees, the tow truck fees, penalties and prossessing fees.So that $180,000 truck that you made payments on for 6 months will probably cost you $100,000.You better have a really good paying job or a house that you don't live in that you can sell.Also your car and home owners insurance premiums will increase and some employers are now doing pre-employment credit checks.Oh and by the way they can force you to liquidate all of your assets including boats, cars, tools, home,and furniture.Another thing that they have started doing here lately is calling anybody in the phone book who has the same last name as you and calling your neighbors.Take it from someone who is going through this it is no fun and everday it just gets worse. .

In any situation, when someone is attempting to collect a debt from you, obtain a copy of the FDCPA (Fair Debt Collection Practices Act) and learn your rights.

So just keep that in mind the next time you feel like just jumping in. .

Good idea.

I was a successful expediter for 12 years and was 7 payments away from owning the truck free and clear.

This is the KEY lesson. If you did not have the forsight to enter this business with sufficient capital reserves, then your first goal would be to set aside enough capital (during your "successful" time) to cover three months expenses when times are tough.

**Please make productive use of this post and treat this venture as a business by having cash in the bank before making the jump and always maintaining a cash reserve when revenues will allow**

 

[MSinger]

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