Waiting on New Trucks thread.

This is for a lease on a new 579, No purchase option you just get a new truck every 3 years.


This is their lease purchase for a 579.


And this is what it costs you to ride around in one of their big 389’s.

 

Wow that last one is rough..balloon payment of 50k? Yikes... wonder how do they pay? By the mile ? Percentage? Probably a dispatcher and the whole nine. Don't see how a guy could ever make that work.

 

I hate to say it, but considering the cost of a new Truck, all 3 deals seem fair. Doesn’t say the length of term on the purchases. If it’s 3 years. Not bad. The 389 will be worth a lot more than the $50k balloon. The other costs for plate, hut, etc. seem in line. Like Mr. Tibbs said, “How much do they pay?” I’m always Leary of any Company starving out a Leasee, so they can get the Truck back. North American wrote the book on the practice. If trading every 3 years. Why not lease instead of buy? If that’s the case. I don’t trust any of it. At least a Bank is bound by Laws.

 

I took my wife to pick up my first Truck. My Dad came along also. I let him Bobtail it home. He spun gravel leaving the parking lot. Last words were “ See you at the 115.” He was gone!!! After breakfast, same thing. I was worried he was going to destroy my Truck before getting it home. Lol. Second Truck, brought my wife and daughter ( 8 yrs old at the time ). We all test drive it together. I really wanted my family to feel like it was our decision, not just mine. Considering how the ups and downs of Trucking affects the whole family, I thought it was a good idea to get their opinions and make them feel a part of the decision to buy. Those are great memories.

 

The reefer trailer expenses are not listed. The driver pays for everything related to it, as well. Hurricane pays absolutely no operating expenses of either unit.

 

LOL. My two boys 14 and 15 years old. Both want me to get a long nosed Pete. They love those trucks. I’m more of a practical owner. What runs and won’t break the bank. I’m more concerned with what motor a truck has. I can’t take them with me to buy a truck. They would have me in a flat top Pete with a thousand lights before I could say no

 

Here's this week's update.

July 15, 2023
389 Peterbilt - 153.........9 389X's
579 Peterbilt - 222
T680 KW - 453
W9 KW - 91
Cascadia - 48
Volvo Family - 94
Mack - 53
International - 80

An increase of 26 units for sale this week. I'm not sure if everyone saw the Taylor Martin auction prices this week but woof. Seemed like some great deals. The auction was in Sioux City and believe that's the best barometer of used pricing since in that area they have all facets of the trucking worlds (grain, reefer, flatbed, etc.).

At this auction, for $73K you could have gotten a 2022 T680 with 455 PACCAR with182K miles. For $5K less you could have gotten one with 220K miles. 2022 389s were going for $155K. Even a 2019 Great Dane reefer with a C600 TK unit went for $31.5K. That was a $60K trailer 18 months ago. This just further points to that the likes of MHC is sitting on some major losses.

I did try to buy a truck again this week but we are getting further apart. They offered me $140K for my 2022 389, which was the lowest trade-in value I've gotten. Funny thing though, they are not accepting any trade-ins unless they are a hood. So you tell me how they are supposed to sell new trucks if they are already excluding a good chunk of potential buyers? And again you tell me when used truck pricing is cratering how new truck pricing has barely budged? For those trucks that sold at auction this past week, I believe you could argue you'd get a better return on investment than buying new.