Lease new vs buy old?

God help you son, you're going to need it

 

Buy for 15k pre egr, spend 20k on repairs and have your own glider!

 

Lease, as in lease purchase through a carrier or lease from Paclease or such? If you're talking lease purchase, then you have to decide if you want to be an o/o and own what you're driving and have your name on the title and have the ability to do what you want with it. Or....being tied to a mega making the payments on their truck. Don't be fooled by what they tell you, it's not your truck and you're not an o/o.

A lot of people seem to get fooled by the lease purchase on a new truck. Here's the simple way to put it. I'll go buy a brand new truck and it might have a payment of $2k a month. I make you sign off that you'll pay me $800 a week to drive my truck for me. Then if it looks like you might make all the payments then freight gets slow, for you. You get mad and turn the truck back in so I offer a used truck to the next guy for $600 a week, and he starts paying me to drive my truck. The cycle continues and continues.

Long story short, buy the $30k truck and have your name on the title.

 

This is all bad advise.


Kid, keep working save your pennies. Find a good company near your home. Work hard, ask if u can run as an o/o for them find a truck then run percentage and that's it.

 

Its simple,do you like sleeping at night?

If you do then pay CASH,title in your name your done and deal with whatever comes,repairs,insurance,expenses and so on.

But if you dont like sleeping and being up all night worrying bout if you get sick,or work somehow "MAGICALLY SLOWS DOWN" then LEASE YOUR LIFE AWAY,

I prefer sleeping,but hey thats just me,
its not SHINEY BRAND NEW,but its MINES and PAID FOR

 

Buy a used truck from the late 90s-early 2000s pay cash and make money.These new trucks are in the shop more then the older trucks.

 

Don't listen to those who say you should buy an old truck. If you have mechanical ability and a shop it might be OK. If you have to pay someone to repair your old POS it won't work. Too many people have drunk the Kevin Rutherford Kool Aid. Aside from the fact that a 99 anything will ride like a farm tractor it will smell like a tobacco plantation. Full of bugs, holes in the upholstery, etc.. No if you want to save up some money and buy a truck that is maybe 9 years old that can work. Yes it will have EGR but if you look hard there are some that won't need much work. Lease purchases are a joke. Maybe you could make 40 cents a mile. As a driver you can get 45 or more. To those who think a Lease is the way to go try this. Open up a bank account. Deposit all your income into that account and pay yourself 40 cents a mile. Pay all your expenses out of that account. I guarantee that in 6 months the account will have a zero balance. You will be broke. With driver wages going up stay a company driver

 

30 k for used truck 30k for repairs..... Or........ 165k for a new truck...... Hmmmmm

Just so you know, we tow more new trucks than old ones.

 

First, are you talking about a lease from the dealership or a lease from a carrier?

You never know what the "potential" repairs are, some trucks never want anything from you other than normal service and tires, others are money pits, and have been since they were new. I have owned 4 trucks in the last 14 or so years, the first one I only kept for a few months (didn't like it) the second one was a money grabbing pos for several years, the last couple of years I had it it did me well. The third truck was a change the oil and drive it like you stole it, never cost me anything until it hit a million miles. This truck I have now is a money pit, I won't buy another used truck again.

Over the last several months I have ran numbers, and re-ran numbers multiple times. I've paid a lot more attention to the industry than I ever have. I have come to the conclusion that buying new trucks and trading when the warranty is about up is the most financially advantageous way to go about it. Whether that be a new truck with all the emissions gadgets, or a glider.

Are the new emissions trucks perfect? Nope, but then neither was every truck before them. The thing with this industry, and specifically truckers is we don't like change, its always been that way. When something new comes out we hate it, and look for any and every reason to talk down about it. From 2008-2011 you couldn't have given me a new truck, they were and are junk for the most part. But the OEM's have figured out a thing or two, the new trucks by and large seem to be doing very well. Will they make 1,000,000 plus miles like their predecessors? No one knows for sure, there sure seem to be a lot of experts here saying they won't/can't. Maybe they are right, maybe not, time will tell.

With a new truck that payment is guaranteed every month, with an older used truck there may or may not be a payment, and there might "potentially" be an unintended payment in the name of repairs. Either way its a gamble, flip a quarter and go for it.