2004 Freighliner; I am thinking of buying this truck

Okay, I am writing this as the Banker in me. I will assume you know about trucks and how to work on them. I will also assume you are not an idiot and have thought about the uphill fight.

First thing you should do is write up a business plan. Start with a two sentence overview of what you are trying to do. Next write down all the things you have going for you. Identify your market. Where are you going to find freight? Where are you going to get emergency resources? Do you have your own authority? What are you cost? Are you a member of OOIDA?

Now if you don't know how to write a business plan can you figure out how to? If you have a good plan take it to a bank. Show them what it is and take your money plus the banks money and get you the best equipment you can. Keep some reserve cash. A bank loan should be 7% or less. You should be able to generate a 17% profit on any money borrowed and still pay yourself a good salary. Oh, be sure to set yourself up as a LLC or better.

And now a story that may or may not help.

My Grandfather lived from 1890 to 1993. He saw many changes in the world. He had the first airplane in Missouri and his pilot license was signed by Orville Wright. He saw automobiles and men walk on the moon. He made millions, lost it all in the market crash, and made millions again. He played golf with the greats. He taught me the game.

We would drive to Hamilton, Missouri to play. He was friends with both JC Penny and Sam Walton. The Hamilton golf course had sand greens and a lake that ran through the 9 hole course. This was the 1970s and there was rarely anyone there. One hole was a par 3. It was only 145 yards from tee to green. A very easy shot with today's equipment. Then it was more challenging. My father and his brother in laws would always get into their bag and get an old ball out because you had to fly over about 100 yards of water. Grandpa would always get a brand new ball out. He would always point out "When you prepare to fail you will. It is always better to give yourself the best chance of success." When he told me that, I reached in to his bag and pulled out one of HIS new golf balls. I had learned that he was right. Prepare to succeed but use other people money, just in case you fail.

 

Hey Wooly, I don't mean to be nasty, but with all that greatness in your family, how did you end up in a truck? Did you piss off Gramps or something?

 

No. I made all the money I could ever need in Banking. I then went into trucking because my parole officer made me get a job. I was trying to be a jerk but it turn out, I love this and I am not very good at it yet. Even after 9 years, I make mistakes and I am NOT going to quit until I am the very best I can be.

 

The first thing you have to have is money. If you want to do this on the cheap, then learn how to do it on the cheap but it means putting in a few years driving for someone else.

As for the truck - I will say this as blunt as I can, IT IS NOT LIKE BUYING A CAR. So forget just buying a truck and putting it on the road.

 

Cool, I'm kidding, and I've read your posts, so I know you have a sense of humor. If I ever win the lottery, I'm gonna buy a fleet of trucks and run them 'till all the money is gone. HA

 

Bolded mine.

If you don't have enough cash on hand now, what makes you think you will survive a breakdown on a truck with 880,000 miles on it? I promise you there is nothing "cheaper" about a service call for a blown tire on the freeway.

Things happen, and even more things happen when you catch them early enough on a proper pre-trip. Truck maintenance is expensive. Fuel is expensive. Getting your own authority ain't exactly dollar store cheap.

Do you have a business plan on how your going to utilize this piece of equipment? Do you have a customer, or set of customers your ready to pull freight for? Are you going to lease onto someone? If not, who is going to handle your billing? Lots of stuff to think about, outside of whether a truck is fit or not fit for your needs.

I would assume you already have your CDL and the "Wannabe" option you selected in your profile set up is just a technicality?

unloader

 

Probably stand a better chance of succeeding than with the fad of a L/P. You will need to haul for at least $2.00/mile to succeed with this type truck. Forget about California and slow trucking just concentrate on good rates.

 

I can appreciate your enthusiasm,however a 2004 could easily turn into a money pit quickly and knock you out of driving before your career even gets started.Rebuilt motor is great,but all the accessories might still be old(starter,alternator,batteries,water pump,radiator,transmission,sensors,etc. These parts arent cheap,like on an old chevy van.Tow bill is probably minimum of $350.Truck insurance,tires,fuel injection systems,turbos. Just being honest. I would start as a company driver and flog their truck,let them pay for everything. See if you're cut out for trucking,many dont stay. JMO