Considering O/O-Thinking Flatbed-Need Advice

Have any cash afterwards???? I recommend, at least 30K.....also, keep in mind this is a bad year for freight, better also have cash to live on as, there is likely to be some downtime (even if the truck is flawless, which it won't be).

These questions have been asked and answered before, please use the search function.

 

If you've never don't flatbed before, I recommend you learn BEFORE committing to this. I did flatbed for close to 2 years before containers (what I do now). I loved it, but it aint easy!!!!

 

Who did the rebuild? Any warranty on motor? Keep in mind owning your own truck is cool. When it breaks its lost revenue and you need a place and tools to fix. Paying dealer or truck stop to fix wheel seals is expensive,or anything else and one can slap new rod and mains in the motor and paint you a picture.

 

No wife, no kids, no mortgage. Those are your three biggest assets at this point.

Are you planning on paying cash? That will consume over half of your savings and then add on registration, insurance, etc. You should be able to get an equipment loan with 35% down payment. That will preserve more cash for breakdowns. It's always easier to get a loan when you're working rather than broken down and not earning.

 

Why in the world are you a driver with about 9mo experience thinking about buying a truck WHEN YOU DON'T KNOW IN ADVANCE WHERE YOU ARE GOING TO PUT THAT TRUCK TO WORK!!!!!! Never buy a truck if you don't know what you're going to do with it first. You also have a DUI that probably will give you trouble finding a company to lease on to. On top of that after you get that truck to pass a dot and get the title in your name you may only 8 grand in your maintenance budget which is close but not enough money. Not to mention you're thinking mention your thinking about doing flatbed but you didn't say that you have any experience with it.

 

And the compound turbo acerts didn't start till late '04 and he says it's an '03. $8k in drive tires also, I know they are expensive but whoa. Someone is telling stories.

 

That's what I was thinking.

 

I'm thinking for 8k on tires, he prolly has spinner rims.

https://www.google.com/url?sa=t&sou...x28jtvfnGP_UlkifA&sig2=XlGKt-DFCLNaJia0P-6GVQ

 

Sir, I will believe that your numbers are more then likely due to your lack of experience. Now don't get in a tiff cause I'm not saying your an idiot. I do believe you asked a valid question. And being as I didn't start this knowing it all I shouldn't expect (nor should anyone else) you to know it all.

One of the things mentioned above was your lack of capital. This stuff isn't cheap. Buying a used truck can end up costing an extra $30k in a heart beat. You have to be careful. Also I think you need to find a reputable trucking CPA to help you. There are advantages and disadvantages to "buying" a truck. I'm no CPA so I won't even elaborate on that.

Do you have a business plan? As asked above, where or how are you going to put this truck to work? Your lack of experience will keep you away from the good OO companies that you might lease on with. So do you have your own customers? Going to run your own #s? Do you know what that even in tails?

With all due respect sir. Step back and tackle one thing at a time. Oh and by the way, the truck you mention sounds like a bad idea. Just my opinion and we all know what they say about opinions right?

 

Do you want to get your own numbers? Or lease on? If your leasing, make sure someone will take you. I applied and got accepted by one company and was turned down by the other two. One I didn't have enough OO experience, the other my truck was too old. I tried to haul containers, but 1.35 a mile was a bit low with limited miles. Make sure you can get leased on first.