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Partners in Business
The leading business training program for owner-operators.
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Latest Stories: Page 25
Partners in Business
TRY TO DEPART EARLY. Especially when bad weather p
TRY TO DEPART EARLY. Especially when bad weather poses potential delays, try to depart early. Leaving late gives you no time to recover from an unexpected storm and is the major reason for service failures – such as running out of hours on the morning of a delivery. The Partners in Business program is produced […]
June 1, 2012
Partners in Business
PLAN YOUR TRIP IN ADVANCE. Plan your trip and work
PLAN YOUR TRIP IN ADVANCE. Plan your trip and work out the timing in advance to get the most from your time. Ask for directions to every stop, or use mapping software such as Rand McNally’s Route Tools, ProMiles software or the website www.truckpilot.com. The Partners in Business program is produced by Overdrive and the […]
May 24, 2012
Partners in Business
TRY TO DEPART EARLY. Especially when bad weather p
TRY TO DEPART EARLY. Especially when bad weather poses potential delays, try to depart early. Leaving late gives you no time to recover from an unexpected storm and is the major reason for service failures – such as running out of hours on the morning of a delivery. The Partners in Business program is produced […]
May 17, 2012
Partners in Business
MANAGE COSTS OF TIME TO FUEL. The typical owner-op
MANAGE COSTS OF TIME TO FUEL. The typical owner-operator carries 200 gallons of fuel or more, but buys only 100 gallons at a time and takes about 45 minutes per stop to fuel. Often it saves time to put 175 gallons in the tanks. The Partners in Business program is produced by Overdrive and the […]
May 10, 2012
Partners in Business
PIB TIP: SHOP FOR INSURANCE. Don’t automatically i
PIB TIP: SHOP FOR INSURANCE. Don’t automatically include insurance in the final contract of a truck loan. Shop around beforehand, and you may opt to buy it elsewhere. Also, don’t sign up for credit life or credit disability insurance, which covers your truck payments if you die or become disabled, automatically. You likely can get […]
May 3, 2012
Partners in Business
PIB TIP: CHECK FINE POINTS ON A LOAN. Don’t sign a
PIB TIP: CHECK FINE POINTS ON A LOAN. Don’t sign anything you don’t understand about a truck loan, and get a copy of everything you sign. When trading, don’t sign over the title of your truck until you take delivery of the truck you’re buying. The Partners in Business program is produced by Overdrive and […]
April 25, 2012
Partners in Business
PIB TIP: GET FULL DISCLOSURE. Get full disclosure
PIB TIP: GET FULL DISCLOSURE. Get full disclosure before you sign a finance contract. Make sure that the total price is clearly defined. Truth-in-lending laws do not apply to commercial loans, such as truck financing, so dealers do not have to give full disclosure, but most will do so if they are asked. The Partners […]
April 18, 2012
Partners in Business
PIB TIP: REMEMBER THE WARRANTY. When you are negot
PIB TIP: REMEMBER THE WARRANTY. When you are negotiating for a truck loan, make sure your dealership is able to service your truck and that warranty work and downtime will have the least possible effect on your driving time and miles. Get warranty agreements in writing and make sure you understand them. The Partners in […]
April 13, 2012
Overdrive Extra
Your role in tax prep
If you want to avoid the most common mistakes I see with owner-operator tax returns, you need to get involved in checking the major numbers your tax preparer is using.
April 1, 2012
Partners in Business
PIB TIP: SHORTER LOAN, LESS COSTLY TRUCK. The idea
PIB TIP: SHORTER LOAN, LESS COSTLY TRUCK. The ideal loan term for a three-year depreciable asset like a heavy-duty truck is three or four years, during which you can reap the tax benefits of depreciation to maximize the affordability of the monthly payments. The shorter the term, the less you’ll pay overall due to interest. […]
March 28, 2012
Partners in Business
PIB TIP: LEARN TO BARGAIN. Never settle for the fi
PIB TIP: LEARN TO BARGAIN. Never settle for the first quote when you are seeking a truck loan. In many cases, you can work with a reputable dealer and bring down the price of your new rig through negotiation or specification changes. If you’re buying a new truck, ask three of the best dealers to […]
March 14, 2012
Partners in Business
PIB TIP: NEGOTIATING THE DEAL. Getting a serviceab
PIB TIP: NEGOTIATING THE DEAL. Getting a serviceable truck at the lowest payment possible is your goal when you seek a loan. Before you head to the bargaining table, know how much you want to pay for a truck, how much you can manage per month and what interest rate you want. Then negotiate with […]
March 7, 2012
Overdrive Extra
Avoiding irregular tire wear
The solution requires multiple steps, but they reduce tire wear issues, increase longevity and save money
March 1, 2012
Partners in Business
PIB TIP: SEEK CREATIVE SOLUTIONS. Some finance com
PIB TIP: SEEK CREATIVE SOLUTIONS. Some finance companies offer creative solutions to its customers. One option is a variable rate loan. Though most truck loans have a fixed interest rate, which means that you pay the same rate throughout the term of the loan, sometimes you can get a variable rate. That can be a […]
February 29, 2012
Partners in Business
PIB TIP: FACTORS INFLUENCING INTEREST RATES. Peopl
PIB TIP: FACTORS INFLUENCING INTEREST RATES. People who have good credit and a stable job history get the lowest interest rates. Also, people who live at the same address for a long time usually have a better credit rating. Don’t take the first financing option you’re offered. You can negotiate loan rates just as you […]
February 22, 2012
Partners in Business
PIB TIP: GETTING THE MONEY. Keep in mind that truc
PIB TIP: GETTING THE MONEY. Keep in mind that truck loan interest cost can easily consume up to 4 percent of your gross revenue. Interest rates can vary by two or three percentage points, even more – a difference of as much as thousands of dollars in interest over the life of a loan. The […]
February 15, 2012
Partners in Business
PIB TIP: LIST CREDIT REFERENCES. For submitting a
PIB TIP: LIST CREDIT REFERENCES. For submitting a business plan to a lender, list credit references, even if you don’t have a perfect credit history. Include present and past creditors. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and is sponsored by […]
February 9, 2012
Partners in Business
PIB TIP: DEVELOP A BUSINESS PLAN. A business plan
PIB TIP: DEVELOP A BUSINESS PLAN. A business plan outlines the details of your operation, including the types of freight you’ll haul, the traffic lanes you’ll run and the rate you’ll be paid. It lists the name, address and telephone number of the company you plan to lease to and a contact name to verify […]
February 2, 2012
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