New truck vs used truck

Need more information. Area you are running, length of haul, your bank account balance and how handy are you at fixing trucks? New trucks are better now than 2004- 2010. The new ones have warranty, but it puts your earning power on hold while in shop. Consider leasing truck from Penske or Ryder to get started. Rent is not cheap, but the market is saturated with trucks right now and the rates are down. Ideally a brand new one is great, but be committed to the next 5 - 6 years of living in it to pay for it.

 

Creative financial advise. If you buy a new truck you can take a deduction on it using depreciation on the value applied directly to your tax burden. As much as 20k per year....something to consider.

 

I had 2 trucks one 2015 and one 2016.... the 2015 rollover, now I'm thinking for 2013, the market is very slowif u get brand new if u wanna do vacation still need to pay the bill. If u have old when it's broken u got the vacation same time .

 

Like that with any small business....the owner can't take a week off and not pay the debts. It's called saving so you can take a week off. If you aren't saving....your not managing your time and money well enough. the old saying is you can not borrow money to open a business venture holds true....most fail when the rain comes and business slows...

 

Hey dusty how about you give me the 20 k Ike give you 15 k back which is probably double what the irs will .. Win win for both of us

 

Yea....I'll give you two 5's for a twenty dollar bill......

The driver wanting a Truck should at least understand the basic concept of financial statements

 

I aint gotz time fo all dat. I'mma buy me a new truck and get rich!

Champagne will spill from the heavens.

Hurst

 

LOL

 

For the people without savings wont to be home every week not running like a dog and still get good savings I recommend Used truck on 400k to 500k mileage . The people not understand the truck is not like the car. The truck engines are heavy duty engines. They can go easy to 1.3 to 1.5 million miles before to rebuilt it. If you don't drive aggressive you can go very far with your engine and manual transmission. The automatic transmissions are out after 500k miles keep in mind. The new trucks are full of sensors and electronic. They are trouble makers. Plus you will spend a lot for DEF if you buy it after 2008. If you are single owner or small fleet owner buy it used. You can buy 3 used trucks for the cost for one new. Nobody can bit that. And definitely your maintenance will be not more than 10k per year including the tires. And even after 5 years you wont to sell the truck for 10k or make a gift to somebody you are the winner 100% for sure. Because you invest 30-40k but earn 300k for the 4-5 years period you have the truck. And you will sleep much better than the guy buying new truck. Good luck