Best method of getting a truck starting out?

Discussion in 'Ask An Owner Operator' started by silenced140, Jun 21, 2019.

  1. silenced140

    silenced140 Light Load Member

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    Any thoughts on the NEW vs USED debate? Financing vs Leasing? Renting?

    I don't have 30K for downpayment on brand new Cascadia but also don't want to go too cheap and get one that breaks down immediately.


    What is a smart route to go?
     
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  3. buddyd157

    buddyd157 Road Train Member

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    very good used, this way if you cannot make it as an o/o, you don't lose a whole lot.

    you already have trouble getting up the dowmpayment on a new...what does that realistically tell you.???

    good luck.
     
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  4. uncleal13

    uncleal13 Road Train Member

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    My first truck I just took over the payments of an owner operator that was about to go broke. Daimler Truck Financial (Freightliner’s finance company) only charges $500 to change over the contract if you are approved.
     
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  5. Eddiec

    Eddiec Road Train Member

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    The best answer I can offer you, buy a truck that "works for you" not " You working for the truck!"
     
  6. Rideandrepair

    Rideandrepair Road Train Member

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    How much cash do you have? And how much do you have access to? I hate to even ask, I’m not one to criticize others, especially since I started out in the red, myself. But there’s more ways than 1 to skin a Cat. Depends on the amount of risk your willing to take. And how determined you are. It may or may not be the right time. A lot more depends on your willingness to work hard to succeed. Anything’s possible, even O dn. Financing. A little safety net, increases your chances. Especially when just starting out.Most say save $150 k and another $40 k, and also pay off your house and ? If that were true no one would Own a Truck. Main thing is figure out what risk your willing to take. Then figure what resources you have. If money’s tight. Hang on to all you can. You’ll need it in order to avoid failure.
     
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  7. silenced140

    silenced140 Light Load Member

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    Didn't think of that! I will have to learn more. Thanks!
     
  8. silenced140

    silenced140 Light Load Member

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    Right now have about 17K saved up. My first insinct is like EDDIEC stated above... Only thing is... I've heard repairs on used trucks can be MASSIVE!

    I have very solid credit and don't think I would have much trouble getting financed on a 60K used truck. However I'm just trying to figure out a reasonable middle ground. Ideally looking for something with a warranty on major parts for at least a year or so.
     
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  9. Opendeckin

    Opendeckin Medium Load Member

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    I've ran old trucks my whole career thus far and it's nice being able to slack off as much as I want, but if you're gonna work hard no matter what I'd say just run a new truck with warranty. It costs the same per mile if you're running it hard and will have less downtime and headaches. Ideally you'd save up a 20% down payment and go pick one up, but if you don't want to do that you can go to Lone Mountain. They got well speced 2020 Coronados for 18k down right now. Your gonna wind up paying 190k for a 160k truck going that route though.
     
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  10. Rideandrepair

    Rideandrepair Road Train Member

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    Keep looking you’ll find something good. I’m not up on the newer ones, since 03, I lost interest with them. But I do know some are worse than others. Especially the Internationals, they even had a class action lawsuit against them. Now Used ones are very cheap. Can’t give them away. Just have to research before you buy. Good Luck. There’s a lot of 3 rd party financing out there. High interest rates though, I found a good one a few yrs ago. PM me if needed
     
  11. make sure along with your crappy bumper to bumper warranty you get an ntp truck protection engine warranty also covering the emissions cost you a little more but I'll save you in the long run for starters. and if you really want to succeed before you buy your first truck go apply with landstar systems and see if you get accepted by Starqual after their background check most people that fail don't treat it like a business...
     
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