Dannyboy,
I’m only a little ahead of you in a similar plan. Some advice from someone who has just gone through it:
- Home (or cab) study can seem like a good idea, mainly on the basis of cost, but going on a course will give you a much better experience and a greater chance of passing. The FTA do a two week intensive course, which is the way I did it. Two four day weeks back to back in the class room at FTA in Leeds with a class of 13 people. DId a bit of networking and lot of learning, with the multi-choice done on a laptop there and then at the end of the course.
A month later it was back to Leeds for a two day case studies revision course which covered the high notes again and gave us a mock to sit before it was off to a local hotel for the big day. My certificates turned up yesterday so Yay!!
Side note, my Certificates turned up yesterday, 27/04/2017. My exam was 03/03/2017 and of course unless you have an external TM lined up, you cant put in the O-Licence application, (9 weeks wait) until the certificates turn up because you have to prove your own competence.
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Wincanton are offering £1.30 per mile on the boxes at the moment with a fuel escalator of 0.4% per penny fuel rises above £0.98 per litre. They told me their subbies are invoicing about £2.2 to £2.5k per week based on five days. Last I heard Maritime were tracking about £0.05p per mile behind that but these things do flex a bit. Both offer week one paid in week two so help start up cash flow but if you can hold off on being paid for a month or so, try getting on the RoRo trailers out of different ports, because from what I’ve been told, (second hand but from a reliable source) the rates are about £0.07 per mile higher which doesn’t sound like a lot but over a weeks work it could very well add up to four sets of nights out money.
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I have found that you will get the best deals on trucks by renting rather than buying or leasing straight off. I’m looking at a 64 plate Actros BigSpace 2551 for around £380 per week, compared to a new 2545 for £429 per week on lease. That should do me until I’m on my feet properly then, with a bit more experience under my belt of running a truck rather than just driving it, I can spec up what I actually want new on a lease, or take the more risky but cheaper option of buying something second hand.
I was always sure that going owned was better than going leased but have had my mind changed by a friendly local operator. Yes, leasing is more expensive than buying, and at the end you don’t own it, but you know than unless you are unlucky enough to get a nail through a tyre, the truck is only going to cost you £429 a week, where as if a turbo goes on an older, owned unit, you could need to find £6k plus in hurry.
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The new online Operator Licensing system is very good, apart from the fact that after submitting everything electronically, you then have to do all the old manual paperwork as well. Oh, and the Office of the Traffic Commissioner ■■■■■■■ about having lots of work to do, but the case workers seem to be on a rota of one week work, two weeks leave, one week work…
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Insurance will be eye-watering. Your car record, or even your truck driving record for other operators counts for nought when getting your first truck policy. Anticipate quotes from £6500-£12000.
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Unless you have exceptional credit, and your company has been trading for while with filed accounts, expect to pay a fairly hefty bond for your fuel cards. You eventually get it back but most fuel card providers will ask for effectively 3 weeks up front as security, then as you prove you can be a good boy and pay each invoice on time, you start to get it credited back to you. Fuel card credit terms are usually 14 days after invoice for newbies, and they invoice weekly, (and usually Thursday too so you cant be cheeky and sneak a fill up in to the next week of funds are tight)
If you have the itch, by all means scratch away! You will never forgive yourself in ten years time if you don’t at least try it.
Good luck.