Thought I would ask and quit answering

[raceman]

Any advice will be taken right to heart. I have had a number of trucks between ground and expediting. My daughter and husband of bought my ground units and I am left with two starights in expediting. I think we all know two is a bad number. Due to some major medical issues and some big repair bills, I am breaking even every month and it is clear I need to grow a little or go down to just one truck and run it myself. I very much would prefer to grow. Because everything is so tight, I am not able to get a bank to buy into my adding a third truck. Does anyone have any creative ideas to getting another truck? The third truck would then provide income that could be banked and aid in growing. Breaking even is bad situation in that if anything major happens to one truck the other will not support both and repairs. I am sure you know that story. I know selling the two I had was not bright idea but it had to be done for some instant cash. I also know this is a not so bad situation to be in but thought I would ask for some input.
raceman

 

[davekc]

Alot of different approaches can be used. The biggest issue is finding quality drivers. I would start at that end before the truck. If cash reserves are tight, consider a private lease-purchase from an owner. Another option is to lease a truck. Under that plan, you must know EXACTLY what you are signing and what you are getting into.
Remember, find the right drivers first. It can get expensive leaving equipment sitting and not making any revenue. All of the costs, insurance,QC,payment & interest all keep coming. I think you have already experienced that.
If I was in your situation, I would sell of one and operate the other until you gain suffecient funds and find the right individuals to operate a truck for you.
As a general rule, you will make more sound decisions when you are operating in the black versus the red. Adding a third truck can be treacherous if planning is not done correctly. We have had as many as 15 trucks at a time, so I can speak with alittle authority on this. Hope some of this helps
Davekc

 

[raceman]

Thanks Dave. I finally do have one really good driver and the other is pretty good.I understand your thought process and it is a good one. Unless someone come up with a better one, I just may listen to yours. It is very much in line with what I have been thinking. I just wanted some outside advice. Sometimes when we think to much, we tend to over think and forget what we were thinking about. Shoot. What was I saying?
raceman

 

[LDB]

Do the 2 trucks you currently have still have a lien on them? If they are paid for perhaps you could get financing for a new truck by using the new truck plus the other two trucks as security on the loan. It puts all your vehicles in jeopardy if you can't make your payments but that's the only thing that comes immediately to mind. Good luck.

 

[raceman]

Thanks folks. You each confirmed my thoughts. I think I am going to keep the one going with the driver and I will take over the other here in about a month. That should get things back where they need to be.If I could just get my "Pretty good driver" to become very good that would fix things as well. There has been a lot of things at home that I have understood. Parent died. I am going to give them a month to get back at it and prove they are right for the job and if not I will be back in the saddle. I am tired of fishing and wishing anyway.

raceman