Penske Used Trucks - Go or No Go? Would you buy one?

Trucks are stupid overpriced right now. Just seen a 2015 Cascadia by my house. 978K miles and asking $75K with $15K down. That truck isn't even worth the $15K down payment.

It's a bad time to buy a truck right now. The lenders are being super predators right now because they know that the spot market is seeing abnormally high rates. We are in a massive bubble and it's going to pop. People are going to be stuck with these $75K loan balances with 40% interest for a truck only worth $25K and be forced to file for bankruptcy here shortly when the rates come down.

I'd continue to save money, wait for the bubble to burst, and get you a truck for a low cost. To me, treat it no different than the stock market. People who buy into a $30 stock because it was $4 a week ago and don't want to miss out always lose their money.

 

Driving one right now. Second best deal I ever made. I've written many extensive posts on this.

Even if you know nothing about trucks, nothing. Penske's site let's you research the maintenance records for all their trucks.

Before I bought my first truck, I literally sifted through thousands on their site. You start to see trends in what breaks, what might break, and when. This allowed The OM to make an informed decision based on our own research, not hear say.

Everything about this business is calculated risk. And no matter what stuff will still happen.

Common theme on TTR " I hate DEF trucks. DEF trucks are ####."

Do you hate hauling simple dry freight for $4 to $7 mile too?

The dude that bought my old Cascadia is making money as I type this. Lot's of money lol. Just passed his first inspection.

May The OM be with you.

 

I bought a 2014 Cascadia last year from Penske. Paid 30k had 350k on it. 2 weeks later one box failed. Freightliner got ahold of Penske and Penske paid half the repair bill. Have not had a problem since.

 

ya but I bet you didn’t like the fact you had to pay about 4k out of pocket 2 weeks later?

that’s the issue these trucks are duct taped together just to be sold and hopefully they last enough for the 30 days to run out so the seller doesn’t pay anything.