Each one of You make a lot of sense - I suppose it comes with experience.
When it comes to newbies who want to start here is my point of view.
I’ve got few grand saved up from my agency work but nowhere near enough what I need and I need (more-less):
- £8000 (money in the bank to show to the commissioner)
- £6000 (if I decide to buy the used truck according to the above post)
- £5000 (for second hand curtainsider)
- £1200 +VAT OCPC
- money every week for
- maintenance costs of truck and trailer
- o licence centre rent
- insurances
- road tax
- and I probably still missed something…
now it would be a while to save the start up money so the bank can let me lets say £12000 and that will cost me £70 per week
which is reasonable I think. However what if the things go ■■■■ with the truck?
-Buying it at auction, isn’t that like buying kinder surprises?
-What is you personal experience with the auction?
-Isn’t that like someone mentioned that some O/D decide to flog they trucks when they realise that something bad is just about to happen and they think lets make it some other poor lad problem?
-Where is the best place to go and buy, or where is the reputable auction site that won’t take you for a ride?
Maritime offered me buy to work program but I said to them that I will not work for peanuts and that they trucks are well overpriced.
I managed to find companies there who will pay £1.50 per mile either loaded or empty.
On that quote I can turn a profit (weekly based on 1500 miles and diesel @£1.00 ex VAT of course) of £565 with new truck or £665 with a used one (that with £80 put aside for maintenance).
I don’t expect to become a millionaire but I would like to pay myself and save enough to eventually get another truck and give young lads with no experience a chance as I was struggling to get a job when I passed my class 1. I would like to invest in people as there plenty out there worth investing in.