Why are people buying overpriced semi trucks?

Not so, these are usually trucks that have passed inspections, and the owners have had enough. The reality of that is, modern drivers couldn't handle an older truck. You're right, not a buyers market for todays ya-hoos.

 

Hay now im only 32 and i resemble that remark

 

No way

the old mechanical injected engines will run a long long time .
The new ones with hundred of sensors dozens of computers and miles of wiring break down a lot . I’ve seen new rigs under warranty sitting for 6-8-12 weeks waiting on a sensor that the stealership can’t get .

meanwhile , that old rig with no computer is still running . Yes the old ones use more fuel , but they are more reliable .

the large and small companies buying new rigs need the tax write off .

once the Warranty runs out they have to start paying for repairs and once the tax write off runs out they have to start paying income tax on the profit the rig makes , it’s a lot cheaper to just buy another brand new truck .

 

That is what the new financial gurus are preaching

STEP 1: buy when market is high.

STEP 2: Get Repo'd

 

STEP 3: Automatic being an Option - Flip Flops are not

 

New trucks are more expensive than a few years ago. About 15-20k more. Inflation just like everything else. The high insane prices are the used ones. Used trucks may exceed the prices of new ones. Some buyers pick up their new truck and resale it for ones that don’t want to wait. If you want new and not overpay you just gotta wait a bit. Sometimes a buyer backs out. So who buys the over priced trucks. Folks that can. Those that buy one in cash or lightly finance them are not going to go out of business. They have capital. Some use the truck as part of their operation. They are not likely to do the “leasing on” scheme and scraping for every penny. Some one that can afford to pay 300k for a rig is not likely to go out of business. If they can buy it for 300, that means they have more money than 300k. They are not living paycheck to paycheck or worried about a factoring company. They spent the money because they can! It makes them happy. Ones that are going out of business are the ones that thought 50k would be enough to have in a checking account and buy a truck and are surprised of the cost of a reman engine installed today. The days of having 20k and a used truck and expecting success have passed.
Good or bad, truck sales are down. So as many here mentioned used may go down as new equipment is more readily available.
@Judge I’m one of this weird ones that lives to truck. I never needed this job and took a huge pay drop to do what I do, but I get a kick out of shipping for my customers and stopping at Kwik Trip.

 

You can get a mortgage from a bank, and take 30 years to pay it back.
You can rob a bank, and be out in 10.

Follow me for more financial advice.



Sirscrapntruckalot - BBQ when done right is great. - me while eating BBQ

 

There some members that know the story that I posted about a 359 I was interested in buying about 6 weeks ago
The Seller now has been messaging alot the last 10 days wanting me to buy it .. but he hasn't totally come to terms with the reality of what the value of those trucks are today vs. what it was 4 mths ago..
Right now he can just keep sitting on it because it's only going to get cheaper..that's just my opinion thought
Those older trucks have dropped significantly in the last 60 days

 

Close

the neat thing now is credit card fraud and identity theft .

if you rob a bank every cop for a hundred miles plus the feds are looking for you and your picture is on the news
and banks don’t have cash anymore , i dropped by my bank to get $5k case to buy a car and they flat out didn’t have it .

but clone a credit card or do some identity theft loan origination and the cops just yawn and you gotta pitch a fit just to get them to fill out a report .