Blog | Load Board

The price of gasoline is higher than ever, but there are several things you can do to trim your transportation budget. This article shows you how.

One of the most effective steps that you can take to reduce the cost of getting from one place to another is purchasing a used car that is less than 5 years old. This allows you to get a relatively new car that is still in good shape, but still escape the steep depreciation that new cars suffer after they are bought. Be sure to choose a car that has good gas mileage as well, because with today’s prices, this can save you hundreds of dollars a year on fuel.

Shop around carefully for car insurance. There are several websites available that you can use to compare rates such as esurance.com. You also need to evaluate whether you should have collision and comprehensive coverage on your older car. Keeping minimal liability coverage can drastically lower your premiums. Also, if your cash reserves are sufficient, raising your deductible will reduce the cost of your coverage as well. Finally, having more than one type of policy with the same carrier can net you a package discount. Shopping around for gas can make a bigger difference than you think as well. Gas is cheaper in some states than in others; those who live near the state line may be wise to run for the border when they head for the pumps. Using a gas rebate credit card can also take some of the bite out of the cost of fuel. There are several cards available that will pay you cash back on your gas purchases. Public transportation and carpooling at least some of the time will also reduce the cost of gas, parking and maintenance on your vehicle. Even a few trips per month will add up to a noticable savings over time.

At the Truckload Carriers Association’s recent Refrigerated Division annual meeting in Albuquerque, N.M., carrier owners and upper-level management, as well as industry suppliers, were issued an unusual challenge: Randomly provide some employees with $100 each and ask them to use the money at their discretion for charitable purposes.

The challenge stemmed from longtime TCA member John Christner, president and chief executive officer of John Christner Trucking Inc. of Sapulpa, Okla., who has already been implementing a “Pay It Forward” program within his own company for the last two years.

Christner said he got the idea from another company and from a book and movie of the same title. The idea of “Pay It Forward” centers on doing a favor for another person – without any expectation of being paid back and with the hope the recipient will, in turn, help someone else in need.

“The results [of this program] have been amazing, even phenomenal,” he told the meeting. “This is about giving someone in your work force the power to do something for mankind.”

Christner recounted numerous stories about how the $100 “seed money” has helped others. His employees have given warm clothes to the homeless, purchased groceries and gasoline for low-income families, and even contacted vendors for matching grants to make their $100 stretch much further. He told one story in which someone used the seed money to set up a dental appointment for a man who had very bad teeth. During the visit, the dentist discovered the man had oral cancer. “Because of this one random act of kindness, the cancer was discovered early enough to save his life, and that’s a priceless achievement,” Christner said.

Immediately after the session ended, 55 people approached Christner to sign up for the program. Christner gave each the first $100 to get them started. He also provided basic instructions, asking each person to begin by selecting different employees, such as mechanics, accountants, dispatchers and drivers.

Used Class 3-8 truck sales in June increased 9 percent over May despite a lack of available inventory, said ACT Research Co. For the year, used sales are 6 percent behind last year’s pace.

Meanwhile, the firm reported net trailer orders in June dropped 26 percent from May, the third consecutive monthly decline.

“Used truck mileage continues to edge up, in response to fleets holding onto their equipment longer,” said Steve Tam, ACT vice president-commercial vehicle sector. “The market is still awaiting some relief to the shortage of sellable inventory as well as upward price pressures. Improving new truck sales will result in increased trade-ins, and should provide some relief to the market.”

The falloff in June trailer orders, combined with an increase in production, resulted in industry backlogs dropping 5 percent month over month. The industry order board ended June at 97,000 units, ACT said.

“The fall-off in net orders was greater than anticipated,” said Frank Maly, director CV Transportation Analysis and Research with ACT. “A positive factor to keep in mind is that cancellations of existing commitments on the order boards were not an issue; new order weakness was the cause.”