Buying first truck

If you list what and why you're looking at buying a truck it makes interesting reading.

You want to earn enough t cover your hobbies and you currently do that 2 days per week.

After spending your $30,000 you have to register, fuel, maintain the truck which will cost you a minimum of $400.00 per week. At (say $90.00) an hour you need to work 1 day a week to pay for the truck's running plus if you plan on depreciating the truck over 5 years you need to earn another $120.00 per week.

You're up to $520.00 per week or $27,000pa before you get a cent out of it plus you need to cover breakdowns and the inevitable shredded tyres.

If you dislike the current boss so much, find a new one, and still work your 2 days a week, take home your pay, not worry about the costs of it all and enjoy your hobbies.

After 20 years of running my own business I've learnt all those hidden and overlooked costs eat away at the attractive "top line" to give you a thin "bottom line".

I'm currently "mentoring" a young fellow into the trucking industry in his own show after 20 years driving for others and when you sit down and really crunch numbers you need to earn a lot to make a little.

Thanks Zuffen, my thoughts exactly :. I sit on a digger and load trucks all day. I'd have my own tandem tipper if there was any money in it. I'm guessing your CPA may want a business plan too.... No offence intended kind cir. Cheers Ross

There is so much truth and reality in what everyone has put on this thread, I know as I have lived it - in fact exactly where ol mate starts is where I finished up.
I did it with a $15,000 truck - and I was lucky - an old White RoadBoss actual;ly and it is still working today. I didn't blow a clutch, didn't break the motor, did my services myself, fixed the rust when it blew out, polished and polished and polished some more until I could see my wrinkly ol face in the fuel tanks, felt really good, but I was broke.
$90 an hour is a bit over the top, 5 years ago the contract companies were paying $66 an hour, now they pay $72 ~ $ 75.
Southbound has loaded me a few times, and he is right in that there is just no money in that business - BUT it is good fun. There is some really good blokes in SE Queensland, and if your overheads are low and all you want to do is enjoy your driving your own tipper then by all means have a go; but don't do it for the money mate, there isn't any left.