Owner Operator vs Company Owned
WWhen you start out on your career of professional driving, you may be asking yourself: What are the differences between owning my own rig or driving a company-owned vehicle? There are advantages and disadvantages to both sides and it all comes down to what you want out of your career.
Pros: As an owner/operator you stand the chance to make more money if you're running your business (your truck) efficiently. Take into account the possibility of tax and you can see some financial benefits. Owning also means you get to choose your equipment and you get the truck that you want. Add in that you can usually pick and choose which loads you take, and when you work, you have an opportunity for greater work/life balance.
Cons: All that to say, buying a truck is a big investment. The upfront cost alone of a down payment on a rig is enough to put many drivers into debt. Add in your day to day costs, like fuel, insurance, and maintenance and you're already losing some of your overhead.
Pros: The biggest benefit of driving a company vehicle is that when you take the keys out of the ignition after returning from a job, you go home and you leave it all behind until it's time to come back. With that, all your free time is yours; there's no need for you to perform any maintenance, no repair bills, no oil changes.
Cons: Driving a company vehicle is not without it's downsides. Driving for a company means that you drive when they tell you to. This can often mean much more time away from home. You also may find yourself sharing a vehicle with another driver meaning that not only are you likely driving a barebones model, there are no personalizations available.
At the end of the day, you have some considerations to look at before deciding to drive a company vehicle or buy your own.