Truck to Success course includes instruction of financing

Money, and therefore financing, is an obvious key factor to consider when weighing the option to become an owner-operator. That is why it is an important part of the curriculum of OOIDA’s Truck to Success course in October.

Truck to Success is a three-day course designed to give professional drivers the information they need to consider when deciding if becoming an owner-operator is the right choice. OOIDA presented its first Truck to Success course as an in-person course in March 2019. This year, because of the coronavirus restrictions, it will be offered Oct. 26-28 via Zoom web conferencing.

Margo Fries, manager of OOIDA’s Equipment Finance Department, will lead the Truck to Success instruction about financing. She will advise course attendees about what to expect with commercial financing. She plans to go into detail and show by example how commercial loans and rates differ from consumer loans.

Some of the aspects she plans to cover:

• Credit applications.
• Credit bureaus.
• Credit scores.
• Types of equipment to finance.
• Types of equipment financing, such as loans, leases, equipment finance agreements and lease-purchases.

The Truck to Success curriculum is designed to follow a logical transition from a company driver to an independent contractor.

“The No. 1 goal at OOIDA is to help drivers be more successful and more profitable in their business, and that is the driving force for this course,” said OOIDA Executive Vice President Lewie Pugh.

Other Truck to Success course topics:

• Developing a business plan.
• Buying a new or used truck.
• Insurance.
• Running under your own authority or leasing on to a carrier.
• New entrant safety audits and compliance reviews.
• Drug and alcohol testing requirements.
• Permits and licensing.
• Taxes and business structures.
• Brokers and factoring.

Registering for Truck to Success

The 2020 Truck to Success course will be offered via Zoom web conferencing. It is scheduled for Oct. 26-28. Tuition will be $250, which is about half the in-person course cost last year, and there won’t be travel expenses.

There are a limited number of logins available for the course. If more than one person wants to view the course from one computer with one login, they are welcome to do so. If a guest needs their own login, there is an additional guest charge of $150.

Attendees will be asked to indicate whether they would like to receive a physical copy of the Truck to Success course materials or an electronic copy.

For more information, click here.

To go directly to the registration form, click here.

Here is a rundown of some of the topics covered during the first day of the 2019 Truck to Success course.