If you know how much you’ll be spending on fuel, you will figure out your truck’s average cost per mile (fuel cost per gallon divided by average MPG). Then multiply it by the number of miles you will run and you will get the big picture.
Having fuel management software’s and tools like GPS tracking, can greatly help you in lowering trucking expenses on fuel and saving few extra dollars as a profit.
Truck and Trailer Monthly Payments
Some owner operators own the truck and trailer they drive, while others are renting/leasing it, but the second one is more probable. Whichever the case might be, you still have trucking expenses related to the truck itself.
That might be the cost of the truck and the trailer (like monthly payment) or the cost of the monthly payment for rent. However, the truck expenses are there, and they cannot be avoided.
The only way of avoiding this deduction from your overall profit is if you had fully paid off your truck and trailer cost and they are at your possession now. Then we are speaking different language, and you can count on those extra pennies in your pocket!
