I have $100k cash and 6 months CDL-A experience. Where should I go leasing?

Not to be captain obvious but you can make a hell of lot more that $100k in 10 years with a truck. The ROI is not even close with a 7% IRA. $10k a year...whooptie-doo. Working class people should invest too if and when they can but the bedrock of their existence should be finding a niche in the productive economy that pays them well. Warren Buffett can sit around and get richer off the money he already has by making savvy investments with it. That works if you have $100M you can play around with. $100k you're better off investing in yourself on a career or small business that can double or triple your monthly income. That's a game changer for a working class guy trying to dig his way out of the fake money rat race they've got us all playing, but that's the game.

 

Yeah I get it, thanks Captain Obvious

Read the rest of the thread and you’ll see we’re all wasting our time here.

 

I ###-oomed that’s why I didn’t lol.

 

It already sounds like a dumb venture.Why isn’t the $100,000 still in a investment.Your original question was about Lease purchase which literally the worst way to purchase a truck.So why would anyone with an 800 credit score and $100,000 go the dumbest route there is to purchase a truck.You have to be bored and just making up stuff to post or the $100,000 is Monopoly money

 

$1 per mile loads? Why would anybody make that their goal in trucking?

 

Had initially $120k when I started and it went like nothing especially now during tariffs and lower rates. And it was on a ordered brand new Peterbilt still under warranty. Problem is when you go into the dealership because it's their system computer most things are under warranty however with that crappy steal and metal being used on parts these days. Nothing really last so, eventually 1 out of 4 times you're paying for something regardless of the warranty. Inflation, and these days pricing costs and labor is 88% of the expenses for the mechanic. The slow drip begins. New is not better since Covid.

The OP if they are not a troll needs to realize that it's no longer the 90's, 2000's or even 2010's. It's a damaged industry that's currently in chaos and will take a long time to fix. Larger Mega trucking companies still existing can absorb the cost because of government kickbacks with tax writeoffs etc.

I never thought I would agree with Jessie from the film 'Big Rig' Time: 42:00 but he said it right 'The Days of the Independent is Gone'. And he was speaking over 18 years ago about running for under $2.50 cpm after expenses and today that's considered better then running for under $2 per mile.

 

I'm glad you brought some light to my thoughts on new trucks. I was educated in how it is when it comes to new trucks courtesy of what you posted. I already felt like 100k wasn't anything to start a trucking business, and now I'm even more convinced of that after reading this. You and the fella in the video are both right. The independent driver is all but dead. By the time they fix all the issues, probably none of us will still be in the industry.

 

Most guys don't go from being company drivers to owner ops with a brand new truck and their own authority so that's a little misleading saying that $120k went like nothing. Most guys that start out don't have anywhere near that much and have to baby step their way up the trucking ladder from getting your CDL and your first crappy company driving job, to scraping together the 20% down to buy your first crappy truck to lease onto a carrier. Then maybe there's a nicer truck a few years later...something closer to what you actually want. Then maybe a trailer. Then...maybe you step out with your own numbers at some point if you think it's worth the hassle (questionable these days). This is a process that can take years or even decades to play out depending on your motivation and dedication level. I floundered around for awhile earlier in my driving career not really knowing what I wanted to do. Those guys diving their own long nose Pete at 32 years old after only having gotten their CDL 7 years ago, my hats off to those guys. They knew what they wanted and went for it and there's something to be said for that. Everybody figures it out at their own pace.