Paid off truck , what to do now ?

It depends, what are the details on your truck and what kind of major work has been done to it?

 

Im no owner op but id run it til the wheels fall off. Sounds like a keeper

 

Keep running the paid off truck but still put what you paying on the truck in the bank and don't touch it. Buying my own trailer was the best thing I did.
But just because your truck is paid off doesn't mean you should work less, continue as if you still had those bills and put the money away.

 

Do this ^^^^

My plan was similar but not the same order. I got sick of renting a trailer pretty quick. I bought mine outright (2015 Dane for $25k). I did this in 2018 about a year in to my authority. Felt good.
Next, put my head down and paid off the truck, took me about 2 years (2015 Volvo, bought for $60k with 600k on it but it's loaded plus APU)
Next, this year I saved up to pay my insurance full year at once, saved me like $1500 doing it this way.

Now I'm in the same boat as you. I was going to sock it away for the next truck but there are also other things needed in life. Right now we're doing some necessary upgrades to our 70 year old house. As soon as that's done going to refi the house and sock away money to pay it all off at once in a couple years.
All cars and other debt paid off.

Also remember that depreciation on your equipment is going to go away and your taxes will go up.

Congrats driver! Feels good, doesn't it?

 

Well, first thing is to have a nice tall cold one and celebrate the fruits of your labor.

If the truck is treating you well, as said, keep treating her well and run her. Put the "payment" in the bank. Build a good reserve. Winter IS coming......

 

Stack up cash. How much discount for paying the insurance in full? What do pay? With and with out discount

 

Bank it!

 

Stick it on the Dyno and see how she does, would definitely buy a trailer though, it’s nice having your own. Stuff set up your own way, would wait until later next year to decide anything else big to see how you are looking come tax time.

you could also do what my favorite tho g is with a paid off truck and just work less as long as you have a very comfortable account for operating expenses, buying a truck was more a quality of life and a tax thing for me then “making money” life is too short to spend it cooped up in a 60” steel box

your other option if you haven’t already is upgrade your health insurance to something better and do something with retirement