Average Per Mile For Independent Truck Drivers
Finally being able to buy your own truck and become an owner-operator rather than working for someone else is a dream come true for most people in the transportation industry. However, with being your own boss, setting your own hours and making your own business decisions comes the responsibility for making your business profitable. After all, it you don’t cover your expenses, you don’t get paid yourself.
Commercial truck loans
Since the price of most semis and other commercial trucks is usually too steep to be able to afford with just one’s savings, most owner-operators will need to take out a semi truck loan to make their dream possible. That brings the added pressure to make enough money each month to be able to make that payment to the commercial truck lender and still have money left over for your other business expenses and for you and your family.
Income per mile and your loan payment
One of the easiest ways to make sure that you’re earning enough each month to comfortably make that truck loan payment is to compare how much you earn per mile to your loan payment. That way you know can quickly calculate how many miles you’ll need to drive just to have the money for your loan. Of course, different sector of the transportation industry have different average incomes per mile. Below is a brief overview of what owner/operators in different parts of the industry can expect to earn per mile and the average monthly payment for a good truck to work in that sector:
Flat bed trucks
- Average income per mile: $1.75 to $1.95 per mile
- Average truck payment:
Waste disposal trucks
- Average income per mile: $.85 to $1 per mile
- Average truck payment:
General goods truck
- Average income per mile: $2 to $2.24 per mile
- Average truck payment:
Container truck
- Average income per mile: $2.50 to $3 per mile
- Average truck payment:
Of course, the amount you ultimately earn will depend on your part of the country, the competition and the demand for your services. However, this figures will give you an idea of how much and how hard you’ll have to work to make your trucking business a success. While being your own boss can be a great way to create financial security for you and your family, it requires a day-to-day commitment to selling your services, doing the work and providing superior customer service.
