Thinking about making the move

Looking at possibly buying a truck and taking the plunge. Have about 3 trucks on the radar all 2016's.

International ProStar, Cummins ISX, 350ish on miles, no APU. $42000

And 2 KW T680 with MX13, 350-380 on miles, APU installed. Dealer I've been in contact with is saying they will let them go for $50k.

I would more than likely purchase extended warranty if it is through Dealer/Cummins/Paccar. Haven't read good things about 3rd party like NTP.

Price range would put me in the $800-$1000 per month in payment. Which should things go to utter ####, I could go company drive and still make the note.

So Question 1 is which truck would you buy the plane ticket to actually go see? I can rigdig and possibly get an ECM dump from home, but a test drive and mechanical check is a little tougher.

Question 2 would be which route to go through with the purchase and insurance.

Buy/Insure it under personal name, create LLC, or...... check with my parents accounting firm and purchase it under their trucking LLC, which means I may get better rates but no CMV loan "experience" shown on my name?

Parents are currently leased to a company running their plates/numbers but are thinking about getting their own authority. I would run with that same company.


Currently have $0 debt, $10k in cash to start maintenance/oh #### account, and another 10k in available credit should it turn to holy ####.

Have a decent local job hauling construction equipment for a private construction company, but its dependent on economy and building and Las Vegas economy isn't too hot at the moment.

Am I being ridiculous even thinking about doing this?

 

They have 2 completed/Paid off CMV loans under their LLC. Less risk to a lender as opposed to a new startup.

No different than having a cosigner with an 800 fico on a personal vehicle loan.

One of dealers was already prepping me for a 20% ankle grabbing, suggested going for bank financing if I had a long relationship with one.

 

I definitely have been. I'm looking for outside input to get a more rounded picture before I decide. Dad is the driver and is brand/engine loyal so his recommendations on a truck will always be skewed. Plus parents will always say "you can do anything you put your mind to". People on this forum have no problem hitting you in the teeth with a hammer lol.

 

I will be the one driving the truck. He is running around in his W900.

I technically have another $40-50k, but that is for a down payment on a house once all of these eviction/foreclosure moratoriums end and we can see where the housing market trends.

I know the 20k is slightly low, but as I have no outstanding debt other than normal household things I was thinking I could place more into the maintenance account than someone who has a car payment at home along with credit card debt.

Currently dad is running dry van OTR averaging 2.20-2.90 a mile all live load.

 

The whole thing is I am really trying to do it without having to run under their umbrella. Although they are willing to do that, I would rather have it on my shoulders alone. Better to screw myself and drown instead of dragging them down to if the truck blows.

Plus before I began driving I was in casino management at family owned spots. Learned very fast that family and business/finances don't mix very well most of the time.