Hell Bent Xpress Owner Still Buying Trucks Despite Weak Freight

Why is Jamie Hagen still buying trucks when freight rates are weak?

Jamie Hagen, owner of Hell Bent Xpress, is still investing in equipment despite weak freight rates, rising costs, and compliance pressure. In a May 2026 conversation with HDT's Jack Roberts, Hagen said he believes carriers that can weather the current downturn will see opportunities when the market turns. He's betting his fleet is one of them.

Small fleets right now are dealing with soft rates, fuel volatility, nuclear-verdict exposure, and the constant math of staying profitable. Hagen doesn't sugarcoat any of it. But he also sees a dividing line forming between fleets that can hold on and those that can't.

What separates strong fleets from struggling ones right now

Hagen pointed to investment discipline and operational fundamentals as the difference. Fleets that kept their balance sheets clean during the 2021-2022 rate spike have more room to maneuver now. Those that overextended on equipment purchases or took on high-interest debt are getting squeezed harder.

Compliance is another separator. Hagen discussed the ongoing headaches small fleets face with CSA, hours-of-service audits, and the rising cost of insurance driven by nuclear verdicts. Fleets that treat safety and compliance as cost centers rather than risk-mitigation tools are more exposed when a single accident can bankrupt the operation.

The conversation also touched on broker liability and how a recent Supreme Court ruling could reshape the safety landscape for carriers. Hagen sees the ruling as a potential shift in how liability gets allocated across the supply chain, though the practical impact on small fleets remains to be seen.

Fuel prices and operating-cost pressure

Fuel remains a major variable. Hagen acknowledged that rising fuel prices eat into already-thin margins, especially when carriers can't pass the cost through to shippers in a soft freight market. Small fleets without fuel-surcharge agreements or the leverage to negotiate them are taking the hit directly.

The federal diesel tax, which adds roughly 24.4 cents per gallon to the pump price, compounds the problem. With diesel hovering near $4.50 per gallon in some markets, every penny counts for owner-operators and small fleets running on single-digit net margins.

What Hagen sees coming for carriers that survive

Hagen believes the current shakeout will thin the carrier population, and the fleets that remain will have more pricing power when freight demand picks up. He's positioning Hell Bent Xpress to be one of those survivors by continuing to invest in equipment and maintaining operational discipline.

The timeline for that turnaround is uncertain. Hagen didn't offer a forecast, but his willingness to keep buying trucks signals confidence that the downturn is temporary, not structural.

What small fleets should take from this

Hagen's approach boils down to three things: don't overextend on debt, treat safety and compliance as non-negotiable, and be ready to move when the market shifts. Fleets that can hold their cost structure together through the current slump will have options when rates recover. Those that can't won't make it to the other side.

For owner-operators and small-fleet owners trying to decide whether to buy equipment now or wait, Hagen's bet is clear. He's buying. Whether that pays off depends on how long the soft market lasts and whether his read on the coming opportunity is correct.