When is the best time to go into the trucking business?

I'm waiting for prices to drop. A new, fully rigged F-550 or Ram 5500 is pushing a quarter mill right now. A 20 year old one is still north of $40k for one beat into the dirt.

 

I’m waiting on prices to drop as well. Both trucking and real estate. There’s about to be disappointment in both markets. Right now people think their home is worth 500k and their 23 year old truck 110K. Interest rates and the economy itself say different. They can go pound sand with their bloated prices. Many have no choice but to lower their prices because folks can’t get financing.

I sold at the peak and am happy. Time is on our side Cat. Hang tight.

 

You can never time the market perfectly. Don’t even worry about that aspect. Instead, build up your finances. I know a lot of folks say you need a year’s worth of expenses and honestly they’re not wrong. But that’s also a six figure number. Most anyone in this line of work doesn’t have that just laying around. But do get at least 5-6 months worth together and have access to credit lines. Use the credit lines sparingly, mainly for larger items like major repairs. Something that is a big ticket, but you can quickly earn back.

 

There's trucks in the classifieds that have been for sale for a month or 2 now and there's an abundance of them. Just a matter of waiting for prices to match reality.

 

It might be Q2 next year before we see much difference in prices. By then manufacturers should be getting caught up and banks will be dumping repos into the auctions left and right.

 

Come down the USA way and we'll go truck hunting. Maybe you'll see a home with land you like too. Get away from Trudeau and them.

 

If things continue the current path I imagine a lot of the competition will be wiped out over the next 6 months. If we see a major turn around with the economy by April it could be great timing. But that is a big If. Average down turn were seeing now last about 30 months so we could still have another year before things turn around.

Average down turn of the economy not trucking specific but still will have effects and how long does it take for the bounce back with the economy make it to our industry.

More questions than answers. Everything is speculative and it's really hard to accurately predict the future.

 

Read posts #56 and #57 in the following Forum thread:

The shortage worsens, small / mid size co folding | Page 6 | TruckersReport.com Trucking Forum | #1 CDL Truck Driver Message Board (thetruckersreport.com)

I think that's a good answer to the original poster's question.

--Lual

 

The entirety of the economy is affected by fractional reserves, manipulation of interest rates, market interference and so on. You have to watch what they are doing and gage your investments accordingly.

I wish everybody the best of luck and nothing but success in these crazy times.

 

Crazy--indeed....

--Lual