buying a truck

Is looking good/buying a name really that important to you? If the answer is yes,then sorry,I can't help you...but good luck anyway.

If you truly want to start a business I can give you some help.

If you don't mind driving a '97 or '98 like you said, you can get a century,t600,or t2000 in those model years for between $8-15,000 all day every day. This way you will get MUCH better fuel mileage, you will also have very little capitol tied up.

Let's look at worse case scenario here ok. You buy a 1998 frieghtliner century for $12,000(which you could do better price with some searching) and for arguments sake you blow it up two weeks later. You now have to do a full rebuild on the motor($14k), and for the heck of it you somehow tore up the tranny at the same time($7500 to rebuild)and you twisted up the clutch while you were at it($2000)... Well,guess what, you now have a completely refurbished truck and still only have $35,500 into it(much less than the $48 or $49k you want to spend on that fancy pete). The other option is; throw it away and buy another one.

Now the best case scenario with my plan; You buy the $12,000 truck and it lasts you for two years. Sure you will have to spend some significant money on maintenance to keep it going,but you would have to spend that same money on the peterbilt as well. I don't care how many new parts are on it, old trucks break, simple as that.

I kind of doubt you will do any thing with my plan besides laugh at it, but that's ok, we all learn lessons in life. Good luck to you whichever way you go and welcome to the wonderful world of self-employment.

 

Comfort? In a Peterbilt? Unless you're talking about the 387....that is a comfortable ride. And it even has that little red oval.....not to mention you might just accidentally get some fuel mileage if you throw in a red-topped motor.....forget the yellow one.....I KNOW.....Loyalty... How many different trucks have you driven in the 3 years you've been driving? And I don't mean going for a ride....I mean spending weeks going up and down the road....That thing beating you to death....I'd love to have a KW W-900L.....but until I can find a way to get 7-8 MPG out of one consistantly I can't afford to make the move.

I know you have your whole life in front of you.....I know I did @ 26....But, some SMART decisions now will allow you to make the COMFORT decisions later.... But, when I was 26 I made the same decisions.... I wanted what I wanted....and nothing else would do. We understand. Just trying to help.

Hope you don't get PO'd.....that wasn't the intent.

 

First, I own an entire fleet of KW T600's. They are a good compromise of efficiency and comfort. I wasn't saying to specifically buy a shaker, was just saying that the aerodynamic, fleet spec'd trucks are usually cheaper to purchase used.

I know what you are talking about in regards to comfort, pride, and ego. Everytime I'm at the KW dealer, I have to talk myself out of buying a brand new W9 for myself to drive personally. Could I afford it? yes. Could I make money with it? yes. But, I couldn't make near as MUCH money with it as I could a T600/T660. The desire for the W9 is driven by the "driver" in me. Needless to say, after the figurative cold shower, the businessman in me wins out.

Let me just give you some numbers that may or may not open your eyes. At today's current fuel prices, every .1 mpg is worth about $1000 a year(based on 120,000 miles per year). The difference between a "hood" and an aero truck is 1.0 mpg minimum based on aero alone. That is $10,000 a year you could put in your pocket. OK, That horse is dead.lol

To answer your original question; It is ALWAYS better to pay cash for a good used truck if you can. Just two things you MUST do; First, Do not spend all of your cash. Keep a healthy reserve for maintenance(I would suggest enough to cover worse case scenario. i.e. a motor rebuild which is between $12-14,000). Second, You MUST make truck payments to yourself into a seperate account that you wont touch so that you can accumulate a large sum of money to replace the truck when the time comes. If you do this you will be able to buy the next truck with cash also. If you do things right you will be able to step up in truck every time. For example, the way I do it with my company is as follows; I don't expand my fleet until I have at least 50% down payment on the additional truck. When I trade that truck in the next time I will have saved enough for 75% down. When I'm on the second trade cycle I have enough to replace it with cash. This means after 4 years (and two trades) the trucks are all paid for with cash. The fact that we run an essentially debt free company is what allows as to pay our drivers as well as what we do as we can just give them the money we would otherwise give to the banks in interest. It also gives us flexibility and the ability to weather the stormy times. Simply stated, the less debt you carry, the less risk you expose yourself to.

Hope this helps and I'm right here waiting to spar some more.lol

 

I have been doing research on this to. My plan is to be a company (flatbed) driver for at least 4 yrs. In that time i save up a good down payment on a brand new Columbia (which run from 115,000 - 123,000). Granted i will retire after 20yrs from the military and that will pay for my house, utilities, and other bills along with the wife working, i'm good to go. Also my wife and father in law are going to get their brokers lic and broker for me. I figure if i buy a new truck i have all the warenties (SP) so maintence is paid for at least 3 yrs which in time i have saved up a good amount of money when the warrenty ends. I have picked the Columbia fully O/O speced with a CAT with at least 500hp, 70" raised roof for comfort for when i want to take my son or wife with me. I am new to the game but i do think i have a good plan but also know i have to be flexible in the future. I also will start out my O/O time leasing my truck to a flatbed/specialized company till i get a feel for where the good freight is comming from and going to. But then again who knows the future.

Nero

 

i know this off subject, but the columbia and century class freightliner are being replace by the all new cascadia in 2009

 

NC, where did you hear that from