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Latest Stories: Page 26
Overdrive Extra
Extend drains with bypass filter
The best way to know when engine oil needs to be changed is to take an oil sample, send it to a lab, and let the condition of the oil determine the interval.
February 1, 2012
Taking an oil sample and getting it analyzed is a key first step in extending drains. Engine makers’ service centers, as well as vendors such as Polaris Laboratories and Blackstone Labs, are good sources for doing the analysis. In some cases, results can be available online in less than a week.
Partners in Business
PIB TIP: BASICS FOR A LOAN. You’ll need a budget,
PIB TIP: BASICS FOR A LOAN. You’ll need a budget, a business plan and a cash-flow statement when you apply for a loan. A detailed budget will assure the lender that you can meet the financial obligations of owning a truck. A cash-flow statement shows that your projected revenue will be sufficient to meet current […]
January 25, 2012
Partners in Business
PIB TIP: PREPARE FOR LOANS. When you apply for a l
PIB TIP: PREPARE FOR LOANS. When you apply for a loan, be prepared to provide as much information as you can. The more you tell a potential lender about yourself and your operation, the more comfortable he or she will be lending you the money. Show the lender that you are a business owner first […]
January 18, 2012
Partners in Business
PIB TIP: SEEK THE BEST LENDERS: Captive lending co
PIB TIP: SEEK THE BEST LENDERS: Captive lending companies are owned by equipment manufacturers. They often are more willing than banks to lend money to new owner-operators because they are in the business of selling trucks. Also, some commercial lending institutions cater to the trucking industry. Check with your used truck dealer, who may refer […]
January 12, 2012
Partners in Business
PIB TIP: KNOW YOUR CREDIT RATING. Get a copy of yo
PIB TIP: KNOW YOUR CREDIT RATING. Get a copy of your credit report before you attempt to secure equipment financing. Your credit history could contain wrong or hurtful information that you’ll want to explain to a potential lender. Always be up front about your problems. Showing that you have overcome hard times demonstrates determination and […]
January 6, 2012
Overdrive Extra
How to do a fuel-saving test
Though it can be labor-intensive, developing your own testing methods to improve fuel mileage pays off.
January 1, 2012
Visit mygauges.com for Rutherford’s online tutorial that walks you through the process of keeping fuel mileage records and detailed notes for testing. You’ll also find resources for controlling fuel mileage variables, which is critical when testing fuel-saving devices.
Partners in Business
PIB TIP: TRUCK LOAN BASICS: Loans for trucks and o
PIB TIP: TRUCK LOAN BASICS: Loans for trucks and other secured loans, such as cars or houses, are lowest because assets are backing them up. A bank’s business loan often is around 1 percent a month or 12 percent annually. That’s where the best credit card rates start, but they’re usually much higher, even 20 […]
December 30, 2011
Partners in Business
PIB TIP: FINANCING YOUR TRUCK. Give yourself plent
PIB TIP: FINANCING YOUR TRUCK. Give yourself plenty of time to shop for a truck and seek favorable financing. Visit dealers and ask questions. Know what risk you present for a potential lender. The good news is that truck loans, like business loans from a bank, usually have much lower rates than credit cards. The […]
December 22, 2011
Partners in Business
PIB TIP: CHOOSING A TRAILER. Among all owner-opera
PIB TIP: CHOOSING A TRAILER. Among all owner-operators, trailer ownership brings a $6,000 gain in yearly net income. Even with the additional costs of operating your own trailer, the average added earning potential in flatbed, dry van and reefer segments returns the investment in roughly two or three years. The Partners in Business program is […]
December 14, 2011
Partners in Business
PIB TIP: CHOOSING A TRAILER. Among all owner-opera
PIB TIP: CHOOSING A TRAILER. Among all owner-operators, trailer ownership brings a $6,000 gain in yearly net income. Even with the additional costs of operating your own trailer, the average added earning potential in flatbed, dry van and reefer segments returns the investment in roughly two or three years. The Partners in Business program is […]
December 7, 2011
Overdrive Extra
Fuel and Physics
With all the fuel saving products in the marketplace, how do you know what works?
December 1, 2011
Tread design and type of rubber compound account for 40 percent of a tire’s rolling resistance.
Partners in Business
PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchas
PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchase agreements often require an initial security escrow of $1,000 to cover expenses the lessee may fail to pay. Maintenance escrows, which are funded throughout the length of the lease-purchase, usually are required. A lease contract should state the precise purpose of escrows and that all unused escrows should […]
November 30, 2011
Partners in Business
PIB TIP: ASSESS LEASE-PURCHASE PLANS. Calculating
PIB TIP: ASSESS LEASE-PURCHASE PLANS. Calculating the total cost of a truck under a carrier’s lease-purchase plan can be difficult. Beyond knowing the monthly lease payment, make sure you know the total purchase price. The interest cost is only one of the factors. Given the price and truck’s condition at the lease’s start, you should […]
November 17, 2011
Partners in Business
PIB TIP: LEARN ABOUT WARRANTIES. Most warranties,
PIB TIP: LEARN ABOUT WARRANTIES. Most warranties, especially on used trucks, are limited. With new and used equipment warranties, take as much time as you need to understand the warranty being offered and the claim procedures, such as who accepts and rejects claims. Warranty costs increase with equipment age but can decrease with major preventive […]
November 9, 2011
Partners in Business
PIB TIP: THREE TESTS FOR A USED TRUCK. Three techn
PIB TIP: THREE TESTS FOR A USED TRUCK. Three technical tests should be pursued on a used truck before you buy it. The dynamometer or “dyno” test usually costs $100-$00 and determines the engine’s strength by measuring drive wheel power. While it’s running, a technician can look for leaks, also, because the engine will be […]
November 3, 2011
Overdrive Extra
Choosing a business form
There are three main things to consider when you choose a legal form for a business: asset protection, taxation and simplicity.
November 1, 2011
Tax requirements are simple for a sole proprietorship, the most common form of an owner-operator business.
Partners in Business
PIB TIP: KNOW A USED TRUCK’S MAINTENANCE HISTORY.
PIB TIP: KNOW A USED TRUCK’S MAINTENANCE HISTORY. While you’re asking your dealer for crucial paperwork, ask him for a record of the truck’s maintenance history, including oil analysis. Any well-managed fleet truck should have this. Any savvy buyer should ask or look for an inspection, test drive, comparison drive, surface clues such as a […]
October 26, 2011
Partners in Business
PIB TIP: EVALUATE USED TRUCKS. Ask to see informat
PIB TIP: EVALUATE USED TRUCKS. Ask to see information from a truck’s onboard computer from the dealer and carefully review the report’s details on idle time, brake actuation per thousand miles, the number of panic stops per thousand miles and time spent in each gear. Then compare your findings to statistics from your independent mechanic. […]
October 19, 2011
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