with $40k capital, lease or pay cash for truck & trl

Id buy a new Pete extended hood with a 600 and 18 over. Keep it 4 yrs or 450,000 mi whichever comes first, write it off over 4 yr. Go to Dalla Pete for the best price but get 4 quotes. Lease or buy a flatbed and get on with Watkins-Shepard if you have experience. Keep your truck polished and it will be worth more to ya as everytime you go to Dallas , show it to them and when ready to sell-trade they will give you more. Take every load offered and ask if it can pay more if it is below the average ammount. They paid me .03 cents/mile xtra on several moulding loads out of OR to Baltimore. Never show them how angry you are at the dispatchers, call in every day, tell them you cant make OR to Balt in 3 days, and if they cost you money talk to the supervisor and tell him how it cost them and you and you'll be a hero instead of a dumb driver.

 

Go look at my page and see my exactly 2 Horsepower pull a wagon. It will go about 3 miles per hr. but burns a ton of fuel, weighs 4000 lb and doesnt have battery, magneto, lights or wiring.

 

Just as a disclaimer, allow me to point out the "Wannabe" next to where it asks if I'm a trucker. This is simply an opinion from someone who has done financial work for a small trucking operation.

If I had $40k in the bank and was looking into buying my own truck (and maybe trailer) I would try to find the absolute BEST $35k truck I could find. Keep the extra 5k for start-up costs and insurance, as you call it. From there open a savings account and pay yourself a truck payment ($1500..ish) every month for the next 3-4 years.

So let's run those numbers:

1500/month for 48 months = $72000
Trade in on old truck = $5000

Walk into a dealership with 720 portraits of Ben Franklin and see how negotiable they'll be.

 

Who are you talking about riddles and nice and simple?

 

theres a bunch of trucks sitting ....you can find a decent truck for 15 to 25 grand....you can get a flatbed between 10-15 grand.....plus you must realize your auth,ins, 2290 and s-corp plus fuel money to run on till settlements start comeing in......my point being is you can have a ready to roll trucking outfit and some bucks in the bank..and not owe anyone..........remember that $1500 truck payment,$800 insu, plus fuel eats at the bottom line.....if i had 40k thats the way i would do it.....but it's my opinion ...and its your money..choose how you want to spend it.....payments .....or no payments...it can be done

 

I don't think this was meant to be a riddle or a joke, it is good advice from a financial person.

When you work the money the correct way, you can make it work!! And cash money is a good negotiating tool.

Good luck!!

Bill