Van delusions

[carpunky]

Hi,

I recently got out of expiditing but I am thinking of purshasing my own van .

I enjoyed driving a van but did not enjoy driving the bigger trucks , mainly because it was local hotshots downtown. You know ,30 people walking behind your truck and your trying to back up on a way street into a tunnel that you can't see .

I am 42 and single with no kids or debt. Home time would not be a factor as I will be getting out of my lease with my apartment.

I will have no bills other than van related expenses , I have enough saved for 3 months for living expenses ( Van expenses , including food , approx 5k)

My goal is to actually save some substancial money , by getting rid of apt lease, utility , etc ...bills I cannot control .

I gross 30k a year , i would like to save 20k per year, is that feasible in a van.

I will also be trading my personal vehicle in for this van, no need to let it rot in someones driveway .

Thank You

 

[greg334]

want a van?

 

[carpunky]

Yes, Thank you...I never pass up freebies .

 

[LDB]

I'm not quite sure what you are asking. If you mean you want to save 20k out of 30k annual gross in a van I'd say you probably can gross the 30k easily but probably not have 20k for savings after fuel and food. If you are looking for 20k for savings plus another 30k to the van that's probably feasible but no piece of cake as far as the 50k gross. The fact you will have minimal expenses outside the van will be a big help as well as your status that let's you run with the freight instead of figuring out how to get back home when you've just left. Good luck.

Leo Bricker, 73's K5LDB
OOIDA Life Member 677319, JOIN NOW
Owner, Panther trucks 5508, 5509, 5641
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.

 

[RichM]

One thing to keep in mind is that if you have no actual address and essentialy live out of the van is that the IRS will disallow travel deductions. You need a bonafide address and might have to prove it with rent receipts mortgage payments etc. If you rent a room from a relative for address purposes the relative is then required to list the rental income on their return as ordinary income.

The van expediting business seems to be at a real lull these days.
Lots of posts complaining about too much deadhead and long layovers between loads. I would recommend that you read through all of the posts for the last 6 months before you make a decision.

 

[Crazynuff]

>One thing to keep in mind is that if you have no actual
>address and essentialy live out of the van is that the IRS
>will disallow travel deductions. You need a bonafide address
>and might have to prove it with rent receipts mortgage
>payments etc. If you rent a room from a relative for address
>purposes the relative is then required to list the rental
>income on their return as ordinary income.
>
>The van expediting business seems to be at a real lull
>these days.
>Lots of posts complaining about too much deadhead and long
>layovers between loads. I would recommend that you read
>through all of the posts for the last 6 months before you
>make a decision.
Would the IRS dispute a relative providing free rent ?

 

[OntarioVanMan]

>>One thing to keep in mind is that if you have no actual
>>address and essentialy live out of the van is that the IRS
>>will disallow travel deductions. You need a bonafide address
>>and might have to prove it with rent receipts mortgage
>>payments etc. If you rent a room from a relative for address
>>purposes the relative is then required to list the rental
>>income on their return as ordinary income.
>>
>>The van expediting business seems to be at a real lull
>>these days.
>>Lots of posts complaining about too much deadhead and long
>>layovers between loads. I would recommend that you read
>>through all of the posts for the last 6 months before you
>>make a decision.
>Would the IRS dispute a relative providing free rent ?


The IRS might not BUT the U.S. Border Service sure would!!! You must have a brick and mortor residence...rent receipt or a bill with your name and present address when asked. Trust me I've been down this road!!!

 

[carpunky]

ok, let me make myself more clear

I would like to gross enough to save 20k per year.

The new van will be paid for by cash. I should have no personal living expenses other than food.

other than xm radio , van ins, health ins

health = 240
xmradio= 14
van ins= 200
food = 300

 

[LDB]

I see $750 a month or $9k annual expenses so far. What about fuel for the van? It appears you might have your $20k left over for savings with about $45k gross. That doesn't sound too unreasonable for a van that's accepting most offers and available most of the time. Good luck.

Leo Bricker, 73's K5LDB
OOIDA Life Member 677319, JOIN NOW
Owner, Panther trucks 5508, 5509, 5641
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.

 

[terryandrene]

CP:

If you have the proper work ethic and choose a carrier that can satisfy your requirements, you might easily net $20K. I've done that on many slow years. But....

Your van may be paid for but it was not free. A $24,000 van, over its usefull six year expediting life, will cost you a simple $4,000 per year. If you factor in the earning power of that $24k over the six years, if it was invested in an interest bearing account, you'd have to gross even more to recieve your net.

Whatever your state of mind is concerning the paid up van, I'd suggest that you add van replacement cost to your expense sheet so you have a relaistic picture of your net earnings.