new truck new trailer am i crazy

crazy maybe maybenot, do you have some working capital set aside after you get all your fees paid and everything if so i think you will be fine, i don't know if i would have went this way but thats the wonderful thing about being in bussiness you call the shots i wish you good luck and hope you make it

 

Me personally, I'd look around for a low mileage used before buying new.
Once you drive a new truck off the lot you loose considerable amount of value. So why pay more money, you can get used that have good maintenance records and warranties for a whole lot less money out of your pocket.
Considering what the future may bring... inflation. higher fuel prices, and higher cost of living. It would be a good idea to keep as much of your cash as you can.

 

Crazy.........no, stupid......yes!

Like 82ndCowboy said, look at some good used trucks and just put a nice down payment, not to much but not to little. The newer trucks suck and thats putting it kindly. Look around the board but if memory serves me correct stick with 05 an older so you don't have all the EPA junk killing the MPG's. It may be 03.

Big question is, how do you know its good rates for reefers on the broker boards?

 

If you can pay cash for a new truck and trailer I would say invest it in something else. If you still are inclined to do the O/O route then I would look at something like select trucks with a warranty. You will still have operating funds and a maint fund with funds to fall back on.

 

hi, im pasting my post from another thread, here it is

Just picked up my truck today, 2005 freightliner century, heritage package, 455hp detroit, 10 speed, sliding 5th, 508k miles, gonna get it home in the morning, fit it out, inverter, fridge, cb, xm, spare bulbs, fuses, belts, tools, fluids etc, next week start work, got a good deal on the non trucking liability/physical damage $130 a month, truck payment $1200 for 36 months, includes insurance for 3 years, freightliner select and select extra warranty, taxes etc, new year new job, fingers crossed.........................

I bought it from select trucks here in Tampa, $5500 down, interest with Daimler Financing 13.75% over 3 years, hope this info is helpful to you

all the best, and good luck
Rich

 

Whoa Whoa Whoa.... back the truck up...

FIRST thing you should do is check into insurance. You say you've driven years ago, but nothing current or recent? That's going to be a problem with the insurance companies. Make sure you can get insurance coverage First and Foremost!

I encourage you NOT to buy a new truck. Why shell out all that $$ when you can save a bundle on something that's previously owned? You'll need $$ in the bank for everything else that comes with getting your own Authority. What if you hate it and go to sell your "new" truck? You'll take a beating on it!

Keep your overhead as low as possible and keep as much operating capital as you can. Do your research!!

 

It seems that your budget for this endeavor is about 150k. Gears, notarps4me, 82nd cowboy and Les2 are right. You need to reevaluate. For about 50K you can get a used tractor and trailer with insurance and it little maintenance on each. Plus, you have emergency money in case of a catastrophic failure (i.e., engine, tranny, you ).

Don't trust the load board. Especially in this economy. Get a hold of one these veterans on this board and they lead you in the right direction.

 

If I wanted to get out of the trucking biz and into the construction biz today what would YOU tell ME?

There's your answer...

 

Geez...13.75%... holy crap!