Yes, you should buy a truck now...the prices are not going to come down again. Gone are the days of buying a cheap truck...the new era of inflation and currency devaluation is upon us and when it ends, the price of everything will slow down but it will not come back down. It's the 70's relived.
Should You Buy a Truck in 2021?
Discussion in 'Ask An Owner Operator' started by SeanQ, Nov 23, 2021.
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Ideally, if he has the cash, buying a new truck is best. He hits his cap rate quickly, without major breakdowns, then with proper maintenance he can milk it until it's time to get rid of the old clunker. The icing on the cake is if it's a Pete because there's still some sort of resale value on it, but obviously this is not likely now with the shortage.
A used truck is completely different: it's a huge gamble, especially if you don't have the ability to fix it yourself or do major repairs. You have to really do your homework, and prepare for the absolute worst. For me, it's not worth it.
Houses and trucks can't be compared other than cap rates. One is passive, the other is workable. If you like the job, then working it is not a burden.SeanQ, GYPSY65, shooter19802003 and 1 other person Thank this. -
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I sort of understand those who just paid big money for their junk, trying not to lose their calm, claiming inflationary theories. Hearing that they overpaid up to 70% of something that nobody wanted to even look at not too long ago must be rather disturbing. Inflation is undeniably real but still, just wait and see what the used trucks will go for at places like Arrow Truck Sales, when the container ships are offloaded, domestic oil fields are shut down completely and the rates are plummeting down below 2 dol per mile again. The pendulum takes its swings. Not the first time, not the last time.
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Most people on here say buy real estate. Well, that’s great and all but you must have revenue and profits before you can buy these things. If I’m going to go into debt then it’s going to be for something like trucks and trailers that can make you a lot of return and much quicker. That is however, if your profitable and can make these kind of returns. Like I said, easier said then done. Very possible though.
When I can cash flow my entire business and no longer rely on a bank even a little bit, is when I’ll start buying properties and such. Not until then though as right now I’m focused on generating profits in the short term. It is tough though sometimes to predict or know where to put your money and efforts. Trucking has generated record profits but also property and such has appreciated by record amounts. I suppose that’s why the rich get richer once you reach a certain threshold. You can have your hand in many cookie jars. lol
And I agree about the new trucks. I’ve found it cheaper and more profitable to run new stuff. Depreciate it down and then sell it while replacing with new. However, right now you just can’t get them like I was saying. This new 680 that finally came in it wouldn’t surprise me if I could get 300k for it right now which is insane. I paid 155 for it. The sister to it built in August still is waiting on parts, so this shortage has not improved at all. Dealer says same truck next year will be 175 IF you can even get one. He said no Cummins and Paccar is a maybe by fall. I’d sell this one I just got but if I can’t get more then what am I gonna do? However, I reckon that’s why it’s worth so much for now.GYPSY65, Siinman and shooter19802003 Thank this. -
If you want to buy a truck and can find one you want then you should buy it. Everyone on this site has been telling people to not buy trucks probably since the message board began.
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I'm buying 10 trucks this coming year, in 2022, so it isn't me saying that.JoeyJunk, Short Fuse EOD, shooter19802003 and 2 others Thank this. -
Prices will not come down. They will go up. Inflation does not back-peddle. New truck prices are not going to go down in 2024. 188k for a 389 is dirt cheap. Your money is just not worth anything anymore. Buy now before it gets allot worse if you have savings, otherwise it doesn’t matter if you pursue on future earnings.We are not even into our 1st year with Brandon. I bought a new truck and trailer. No, I am not going broke. Those that are going to hold out to things get normal may enjoy a 220K 389. It really doesn’t matter since than rates will keep going up with inflation. Rates will never go back down to what they were. When entry level jobs are 22 an hour at any dc or a trade. You won’t see $ 1.90 diesel again either. The country voted for high fuel prices so inflation goes with that. As y’all know, almost everything ends up on a truck.
Last edited: Nov 25, 2021
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