Jumping in HeadFirst! - What's the MPG for Chevy 3

BIGBOY · May 1, 2003

Well. I decided to take the plunge and join all of you expediters out there! I purchased a 2003 Chevy Express 3500 1 ton 6.0L V8 and the dealer could not tell me what the MPG was for Highway! - Anyone have a ballpark figure (I figure about 16mpg)
I passed the General Knowledge test and Hazmat today with ease. Thanks to the following sites! http://www.roadwars.com/otc/ and http://www.layover.com/newbies/cdltest/
I will be leasing on with an expeditor in the next few weeks.
I have another serious question which I'm sure someone here could answer. When the dealership asked me if the title was going to be in my company's name or personal name, I originally went with the company's name. Then they tried to jump my APR on financing from 5.00% GMAC to 7.49% GMAC. I about took a $%#@ in the chair when they said this. This is after being there 5 hours negotiating. I decided to have the van titled in my personal name and will be getting another Fed ID # for my new expediting company, tommorrow before I pick up the Van (It's being outfitted with Adrian sidewalls, etrac and wooden floor)(costing about $420). I ended up with a 4.75% loan form Bank One. What consequences can there be by having the van titled in my name - vs - the company's name and should I have the titled changed over to the company in a month or so? I also purchased GAP insurance since the large number of miles I will be putting on van.
I know there are at least 2 other type of insurance I will need once I sign on with an expeditor and get my commercial plates. Any good deals out there on insurance?

Desperate in Ohio....Bored in Indiana....Chewing Cud in Kentucky....Cursing in Michigan....Just passing through Canada!

RichM · May 1, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

16 MPG sounds about right on the highway.I have a friend who drives a Chevy van with the same engine (I think it is a 5.7 liter V8 the old 350 Cubic inch Block) and that is what he gets. I don!t understand why the dealer would want to charge you a higher interest rate using a company name vs your name.Only thing comes to mind is that you have good credit and your company since it is new has no credit rating.Take the lowest rate and down the road sell the van to your company and let the company make the payments.you didn!t mention if you incorporated,I personaly think that is the only way to go.You can reduce liability and if you go bankrupt the corporation takes the bad credit hit,not you. As far as insurance goes most of the expediting companies have plans that you can join up in and get a group rate.You need public liability and cargo insurance. Good Luck and welcome to this crazy world.

BIGBOY · May 3, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Thanks Rich for your response.
I just got my EIN number yesterday for a Sole Proprietor for cargo expediting. I recieved my federal ID Number. Is this what you mean by being incorporated or is there another process? I talked to Ohio department of taxation because I thought I had to apply for a vendor's license but since I wont be collecting tax money to give back to Ohio this was not needed.
How exactly do you become an LLC (limited liability corporation) and what costs are associated with this.
Any help on this matter would be greatly appreciated!

Desperate in Ohio....Bored in Indiana....Chewing Cud in Kentucky....Cursing in Michigan....Just passing through Canada!

teacel · May 3, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Hey BigBoy who is ivory? HA HA HA!!!

If you go to - http://www.sba.gov/starting/indexbusplans.html

This site will help you and explain all you need to know.
Did you write up a Business Plan?

RichM · May 3, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Big Boy.I will send you a private E mail regarding S corporations and LLC.Too much to go into on the forum. I reccommend it highly and will tell you why.

Weave · May 3, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

The van is your property, you are paying for it, and should be titled in your name only. Since you are leasing on to a company and not running on your own authority, you do not need to incorporate, and their really isn't much advantage to doing so. All the financing company should require for a loan with the title in your name is a letter of intent to lease from the company you are leasing to, they will do that no problem.
Chevy gas FI 350's get between 12-18 MPG, depending on the weight of your loads and the terrain you are running.
-Weave-

Lureveto · May 7, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Whether it is in your name or not you will get the bad credit if things go bad and you lose the van. IT does not matter,,,,you signed the contract. Go broke like so many have in the past and you suffer the bad credit hit. When are you people going to learn,,,,,cargo vans are like buggy whips. Everybody likes them when freight is moving but they are useless in the bad times. Try selling that van in 90 days.hahahahahahahahaha. Try selling that van in 6 months,hahahahahaha try selling that van anytime. hahahahahahah. MPG is the last thing you will need to have more info on. MPG should not be a concern. In the winter they use about 8 gallons when idling all night. That brings the mpg down. In the summer they use alot of fuel to keep you cool. IDLE.....IDLE....IDLE. MPG .....dont sweat the small stuff.

BIGBOY · May 7, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

>Whether it is in your name or not you will get the bad
>credit if things go bad and you lose the van. IT does not
>matter,,,,you signed the contract. Go broke like so many
>have in the past and you suffer the bad credit hit.
*** I am not worried about losing the van as far as not being able to make payments. My Beekin score is 775. Since I am a Sole Proprietorship with a EIN fed ID# my question was pertaining to a lawsuit in case of accident which might not be covered by insurance. I believe since the van would be titled to the company - vs - myself that they could not foreclose on my house or other belongings.

When are
>you people going to learn,,,,,cargo vans are like buggy
>whips. Everybody likes them when freight is moving but they
>are useless in the bad times. Try selling that van in 90
>days.hahahahahahahahaha. Try selling that van in 6
>months,hahahahahaha try selling that van anytime.
>hahahahahahah.
*** It sounds like you have a hang-up with cargo van (B) units. I have no intention of selling the van for years. I will probably run it for 2 years then hire a driver and buy another new unit for myself! If for some unforseen problem arises I can always use it for local courier deliveries. I can also use it as my personal vehicle and have a huge tax write-off.

MPG is the last thing you will need to have
>more info on. MPG should not be a concern.
*** Any business owner should have a clear account of all expected and even unexpected expenses. Gas Mileage does make a big difference when you put on around 100,000 a year.

In the winter
>they use about 8 gallons when idling all night. That brings
>the mpg down. In the summer they use alot of fuel to keep
>you cool. IDLE.....IDLE....IDLE. MPG .....dont sweat the
>small stuff.
*** You must be thin skinned to have to idle all night to be comfortable. (Are you under 25 years old? just curious!)
I have installed an inverter along with a spare jumper camping power source to run any appliances for 18 amp hours without using gas.

;-)

teacel · May 7, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Weave, he could if he wanted too, Form an S corp. apply for a fictitious name and lease on under that. Seems like a lot of cost for just one van, and the owner operating it, but to each his own, Right!!!
_____________________________________________________________________________

Lureveto ----- Us people did learn!!!!!!!!!!! How can he get the bad credit if he were to sign in the name of the corporation? In your reply you stated <“Whether it is in your name or not you will get the bad credit if things go bad and you lose the van. IT does not matter, you signed the contract”>
You mustn’t know much about business, and business law, to be putting out bad info like that. To form a corp. is to protect ones personal assets. Business 101

Now jump to (When are you people going to learn) in your reply, and take it from there.

And your point is???????????????????????????????????????

Apply that part of your reply to a D unit. Now who is the wiser??????????????? (MEMBERS)Please don’t twist this by thinking I’m applying that a D unit is bad. --- That isn’t what I am implying.

At least if things go bad for him he can still use the van as a family vehicle. Try using a D unit to take the wife and kids to a drive-in??????????? (Dab-nab-it, m-myyyyyyy ???? key just keeps getting ss-s-st-st-stuckkkkk) hahahahahahahahahahahahahahahahahahahahahaha ops!!!!!!!!!!!! Who said that??????

One point you did make that holds water, and that is if freight is down the van is the one to suffer. Unless the owner of the van is an entrepreneur (someone that knows how to make money – capitalist) then it won’t matter, now will it?????????????

If I'm not mistaken do you not drive a van????? Down yonder in A-Kron
(No offense to you JJ.) or did you at one time??????????????? (there goes that key again). So why not ask yourself the same Q!!! When are you going to learn????????????? Dang key.

Weave · May 10, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

I was just stating the way O/O leasing is generally done for individuals. A lot of people think they HAVE to incorporate or HAVE to title the truck to the company when they start out, but that is simply not the case. I have seen instances come up here where people have been making payments fine, etc, on their vans or trucks, yet decided to lease to other places for various reasons. And guess what- they loose the truck or van because the title is in the lease companies' name so the company legally owns it, and the O/O just payed for all the initial depreciation for nothing. Not fun. Don't do it.
-Weave-

Lureveto · May 10, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

Let me make one more observation so nobody mis-understands what I meant. This guy bought a new van and put together a NEW corporation.....Right? Ok now let him tell us in his own words,when he bought the van , at the dealership, did he sign the sales contract with his name or did he sign (company name only). If his name(joe,pete,tom,frank or harry,is on the contract at purchase then HE I said HE is the one buying the van Not the corporation. HE will be responsible for the payments.You can registar the van in any name you want but it is doubtful that GMAC or whatever financial institution he financed at ,financed that van for a BRAND NEW company with NO credit rating because it is a NEW company. NOW LET HIM SPEAK!!!!!

Lureveto · May 10, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

>Weave, he could if he wanted too, Form an S corp. apply for
>a fictitious name and lease on under that. Seems like a lot
>of cost for just one van, and the owner operating it, but to
>each his own, Right!!!
>_____________________________________________________________________________
>
>Lureveto ----- Us people did learn!!!!!!!!!!! How can he get
>the bad credit if he were to sign in the name of the
>corporation? In your reply you stated <“Whether it is in
>your name or not you will get the bad credit if things go
>bad and you lose the van. IT does not matter, you signed the
>contract”>
>You mustn’t know much about business, and business law, to
>be putting out bad info like that. To form a corp. is to
>protect ones personal assets. Business 101
>
>Now jump to (When are you people going to learn) in your
>reply, and take it from there.
>
>And your point is???????????????????????????????????????
>
>Apply that part of your reply to a D unit. Now who is the
>wiser??????????????? (MEMBERS)Please don’t twist this by
>thinking I’m applying that a D unit is bad. --- That isn’t
>what I am implying.

>At least if things go bad for him he can still use the van
>as a family vehicle. Try using a D unit to take the wife and
>kids to a drive-in??????????? (Dab-nab-it, m-myyyyyyy ????
>key just keeps getting ss-s-st-st-stuckkkkk)
>hahahahahahahahahahahahahahahahahahahahahaha ops!!!!!!!!!!!!
>Who said that??????
>Ok so you are going to take the kids to the drivein in a van with no windows,,,,,right. That van will not work as a personal vehicle. You or the family will not enjoy the ride to the beach or the vacation in an expediter van,,,,,,,get real
>One point you did make that holds water, and that is if
>freight is down the van is the one to suffer. Unless the
>owner of the van is an entrepreneur (someone that knows how
>to make money – capitalist) then it won’t matter, now will
>it?????????????
>
>If I'm not mistaken do you not drive a van????? Down yonder
>in A-Kron
>(No offense to you JJ.) or did you at one
>time??????????????? (there goes that key again). So why not
>ask yourself the same Q!!! When are you going to
>learn????????????? Dang key.

Lureveto · May 11, 2003

RE: Jumping in HeadFirst! - What's the MPG for Che

You asked me when I am going to learn. Well I did,,,,,,I got rid of both of my vans!!!!!!!!!!!!!! And yes I was with Fed-Ex,,,for a while. Then Con-Way and that was the bitter end for me. Fuel mileage was the LAST thing I had to worry about at Con-Way. Cargo vans are like Buggy whips,,,,,,,,Out dated and about to be done away with.