After truck is paid off, what then ?

I’m a retired truck mechanic and now OO. I would think it would depend on your particular situation. I’m runny all 48, I don’t want a lot of down time for maintenance so for me I’m going to replace the truck after three years, or 500k miles. To me down time is costly. Personally I would talk to an accountant or financial advisor and see what they recommend. The company I pull for doesn’t want OO with older equipment because of the reliability factor.

The other side of it is if your truck is paid off and you keep ahead of the maintenance issues I could see where it could be financially wise keep the truck.

 

Mine said once a truck is paid for get rid of it. He said a truck will only make so much profit in it's life before it becomes a liability. Now we haven't quite made it that far but we dump them before they need an overhaul (had one die at 400k so that was unexpected) but I've got an '03 now that I'm not sure what to do with. It hasn't cost a dime in maintenance other than the usual PM but has over 600k miles. I think time is running out on the free ride, might have to dump it. Sounds bad but it's a good feeling when you sell a truck only to find out it took a crap a month later, love dodging the bullet.

 

Put it this way...

CARB states the "useful life" of a rig is ten years.....

I'm planning to buy a brand new rig next month (after I get a clean bill of health from the doc...that's a different story entirely) to replace my old one that is not CARB compliant after Jan.....

So I'll have according to CARB...10 years... to pay-off then save up for another one to buy in 2020.....

I hope the economy picks up along with rates to pay-off the rig in five and save up to buy one in cash.....we'll see....

 

Man I don't envy you at all. I saw a 2010 KW in the truck paper $122,600.00. Jeez in 10 years a new one will cost $200,000.00?? There's a post on here somewhere that it's estimated the CARB rules will cost the trucking industry 5+ BILLION over the next 10 years. I'm not sure where the figures came from or who but even on the high side that's SCARY, at least to me. Good Luck with the Doc-hope all goes well!!

 

What I don't understand is the desire to spend $1 to save $.20 in taxes. When the truck is paid off, put more money in retirement savings, increase contributions to health savings account (if you have one), or a number of other options. You get to avoid taxation and you are not spending money you don't need to. Stash a little to the side for major repairs and such. You can always write those costs off as they occur. Virtually any truck, when maintained properly, will give well over 1 million miles of service before any major engine, tranny, or other work needed. I can see no need to rush out and buy something else with it's increased emmissions crap (which ads upwards of $30,000 to the cost of a new truck) and subsequent increased headaches and cost (even if it is only the loss of revenue because of downtime).

 

If California the only issue, that is not good enough to get me to buy a new emissions equipped truck. Even if I were buying, I would buy a glider kit and put a pre emissions engine in it. Can get a complete new 2010 Coronado, Columbia, or Pete 389 truck like this for around $90,000, spec'd out the way I want it, ready to work. That leaves me 47 other states to run with less initial cost and less operating costs. Kalifornia can go its own way.

 

You show me an million mile truck and I'll show you a rattle trap. If there is more money to be made running old equipment why isn't there more old equipment on the road? If old equipment automatically ='s more profit we'd all be driving '80s model trucks, but we're not because it boils down to more than a truck payment.

Your under the impression that "upgrading" only means new. A lot of guys may just be upgrading from a '95 to '05. Your getting a newer truck with most likely less mileage but still avoiding the emissions.

 

there is alot of old iron on the roads. The reason there isn't more is because companies have to pander to panty waste whinny company drivers.

My pete had over 3 million on it and where as it had it's problems there was less rattles in it then there is in this 4 year old freightliner. And it took me looing at 12 freightliners to find one as quiet as possible.

 

I'm one of those guys based out of California and very aware of the Carb issues. What many don't realize is the new engines not only run cleaner but get better mileage from what I have seen. Not only that the cleaner and leaner that engine runs the better it is for the engine. Engine oil isn't polluted as quickly and can extend oil change intervals saving some bucks there. I believe it isn't going to be long that the entire country is going to have the same standards.

Most of my life I was a truck mechanic so I have a little bit of an idea what it takes to keep older equipment in good shape. When your truck is down for major repairs, say an inframe how much money are you losing each day. If you have a hot load and break down where does that leave you with the shipper and receiver, not in good light that is for sure. I haul a lot of produce, strawberries being one when in season and those loads are time sensitive as most of you know.