Truck purchase

My advice? Start out driving somebody else's truck...learn on THEIR dime. You don't know what you don't know, and there is a LOT to know about this industry. Regulations that affect the driver. Regulations that affect a truck owner. Regulations that affect the carrier. Too much to learn by the seat of your pants unless you've got some deep pockets, because mistakes (ignorance of the rules are not an excuse) are EXPENSIVE!

Drive for somebody else while you learn the rules of the game we're playing. Then, when you've got a handle on things, if you still want to buy a truck, go for it.

 

Listen to Bulldog......

 

Ooh, rental trucks. That has to be worse than even a fleet truck. Should have had at least 25-30 different drivers. No wonder they're selling for cheap.

 

No no no ... Listen to this, buying a truck is not the same as buying a car. The amount of money isn't the most important thing.

 

It isn't the amount of money to get the title to a truck that's important, it's the amount of money to keep the truck running that's important. My brother bought an 8 year old truck for 12K four years ago. He spent three times that in repairs and maintenance in the first 18 months.

That's just the truck. THEN there's your business plan. Do you have one? Have you estimated your break even costs, projected a P&L statement, or looked into how much insurance will cost (or even IF you can get insured)? Are you planning to purchase your own authority or are you planning to lease on with a carrier? If you plan to lease on with a carrier will you even qualify? Will that carrier pay you enough % the line haul or $/mile to make a profit AFTER you pay yourself AND contributed to a maintenance reserve account?

Unless you have answers to these questions you should strongly consider being a company driver and learn the ropes until you can answer the questions.

 

Definitely won't be "gently" broke in.

 

Here's the question: Would you ever buy a used car from a rental company? I know I wouldn't. Same applies to trucks.

 

Its like falling in love with a lot lizard.

 

LOL that's rough