Thousands of truckers will experience the satisfaction of owning their own semi truck before the end of this year
Chicago, IL (PRWEB) July 23, 2011
The following is a take on the current state of the trucking industry from Clopton Capital and what drivers should be doing to maximize their profit and an announcement of new programs offered. Most semi truck drivers are driving for companies that are not their own. The advantages to this arrangement are that truckers are only left with the responsibility of driving the truck, and not with arranging their own routes and freight. The disadvantages to this type of employment in comparison to owning and operating one's own rig are making less money per mile, having to run the routes the company provides them and having less flexibility in when a trucker is required to drive. These advantages could be the difference between making a typical trucker's income of $30,000 and an independent's income of $100,000. Even after it has been factored in, the hassles of purchasing one's own health insurance, paying for their own repairs, losing profit to fuel costs and basic other liabilities the income of an independent trucker is still worth the extra responsibilities.
If a truck is operating their own rig is so much more profitable why is it that all or the vast majority of truck drivers haven't became independent yet? The major barrier of entry is purchasing your own semi truck. A good semi truck can often sell for more than $300,000, and traditional commercial financing products require down payments of 10% to 20%. Most truckers are not ready, willing, and able to spend $30,000 to $60,000 to get into their own truck. So how is Clopton Capital making it possible for so many truck drivers to get into their own rigs? Clopton Capital now offers a program that only requires a $500 down payment and an adequate credit score of 550 or better. Thanks to this program, thousands of truckers will experience the satisfaction of owning their own semi truck before the end of this year who otherwise would have seen the opportunity as too expensive. “We are really proud of we are doing here. This is a great example of a mutually beneficial financing agreement that enriches both parties involved”, said Jake Clopton of Clopton Capital's semi truck financing program. “If truckers can make more money, trucking companies can sell a few more trucks and we can pay our bills as well, it's a win-win-win situation”.