Buying a Truck Today - Truckers' Trucking Forum

seanbarnett · **^ Top** #1 06.23.2009

Yes if you bought a truck today the rates would be higher than in the past.
But in the past you could buy a truck with little or no money down.

Now most banks require 20% down. WITH A SHORT TERM.

So the truck you bought for $10,000.00 more than you can buy today. With a lower rate and longer term also with less money down.

You still have a bigger payment than if you purchased in todays market and paid more for the truck over the term.

Example: 2006 Kenworth T600

Pricing a year ago
$50,000.00
$0 down
9% at 36 months $1590.00 a month
9% at 24 months $2290.00 a month

9% at 36 months $57240.00
9% at 24 months $54960.00

All most every truck buyer financed for 36 months or longer!

Pricing Today
$40,000.00
$8000.00 20% down

12% at 24 months $1510.00

12% at 24 months $36,240.00
Down payment $8,000.00
Total Price $44,240.00 and full ownership in 2 years .

Savings $10,720.00 to $13,000.00 for a truck!!!

Now is the time to buy a good truck.

Katz · **^ Top** #2 06.23.2009

I have been looking to buy a truck for a while, but I am having a difficulty finding carriers that are hiring lease ops.

I figured I'd stay with the company I currently drive for (Swift) as I know dispatchers and routes well, but they are not hiring any O/O unless you want to lease a truck from them.

Don't think I'm ready to do it under my own authority, not to mention I'd probably need another $10k saved up if I were to go that route.

Scud Runner · **^ Top** #3 08.09.2009

I found an 03 Century for $13,700 with 572k miles, C-15 475 hp... I'm seriously thinking about getting it. Even with 20% down, that's only $2740. And at 24 mo at lets say 10%, that's $516 a month. Two years you own it for $15,124.

lowbudget · **^ Top** #4 08.09.2009

used truck prices are so low your bank just might give you one just for opening a checking account with them...

a little jest, but you get my point.

and if you take scud runner's numbers, you could buy the truck, park it and be a company driver and it;ll be in the same condition when it is paid off as when you bought it. drive your own with no truck payment to make, sure brings down fixed cost for when the economy turns around

rookietrucker · **^ Top** #5 08.09.2009

Quote:

Originally Posted by lowbudget

used truck prices are so low your bank just might give you one just for opening a checking account with them...

a little jest, but you get my point.

and if you take scud runner's numbers, you could buy the truck, park it and be a company driver and it;ll be in the same condition when it is paid off as when you bought it. drive your own with no truck payment to make, sure brings down fixed cost for when the economy turns around

It sounds like a great idea but letting a truck sit that long is not good. I know someone who bought a truck that had been sitting a year or so. They ended up dumping a bunch of money into because it sat to long. Seals tend to dry up after sitting for six months.

lowbudget · **^ Top** #6 08.09.2009

If you live in the country like I do, you can start it and drive it around the yard a couple times a month. preventative maintenance. way back in the day when I was a 63S in the army, we had to do that because the trucks just sat all the time. just like your body, mechanical moving parts need a little exercise to keep them healthy too.

dino6960 · **^ Top** #7 08.09.2009

low budget,when i was in the army ,the mos was 63bravo,lol just gos to show you even tho were a few days (being nice to myself ,,,years) apart something do change lol,but a truck sitting to long ,will give you headachs on the road,

lowbudget · **^ Top** #8 08.09.2009

63B was for 5-ton and smaller wheeled vehicles, the 63S was for anything bigger (wheeled, of course). Oddly, if you were a 63S you had to go back and get 63B training (like we weren't working on HMMWVs the whole time anyway) in order to attain E-6.

grc56_tn · **^ Top** #9 09.06.2009

I am looking to buy a truck already found company that will let me come in as o/o as long as truck is not older than 7 years trouble is ex-wife ruined credit (had to file bankruptcy) any one want to sell me a truck? I have everything in place .... just need to get the truck I am currently a company driver until I can make it happen

Scud Runner · **^ Top** #10 09.09.2009

I tried my own bank, and a finance company I found online. Neither would give me a loan. Even with me saying I could provide 20% down.

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