When buying a Used Truck?

Okay, lets take this from the top and go from there. before you can adequately buy a truck, you have a couple of questions that need to be answered. To do the best you can, you need to match the specific truck to the work you are going to do with it. The engines, trans, gearing, axle capacities, and all these things that make up a truck have to be selected to be the most effective for the job that it is going to do.

So the first questions are where are you planning to run, and what are you planning to haul with it. The terrain you drive in makes a difference. The flat lands of Southern Il require a different power and gearing combo than the hills of Eastern Pa. To pull a Michigan train at 164,000 pounds gross is a different thing from pulling 8,000 of styrofoam on a flatbed. Once you provide that info, then we will start looking at how you want to set up the truck and we can go from there. it isn't an immediate process, but taking the time is worth it.

To make money with a truck, you need to have the right truck for the job. You will never make a more important decision as an O/O than setting the specs on your first truck

 

I saw another post along these lines that talked about buying used to let someone else take the depreciation. One of the many things that concerns me about used is miles. I know there is no way to say what the everage yearly mileage should be. ( Like there is for four wheelers) So what is the average miles/hours that someone would expect before the engine will be require to be rebuilt. Again I know that it will be different depending on engine but what is the ball park figure.

 

In most modern trucks, the engine should last 1,000,000 miles without requiring a complate overhaul, assuming that the needed preventive maint has been done over the life of the truck. The basic guideline if that if you buy a truck with over 600,000 miles on it, budget for an overhaul within the next year of running. After the engine has 750,000 miles, plan on having the money to rebuild the engine tomorrow if need be. Many engines last well over 1 million miles, but you have to have a budget set for whatever mechanical emergencies can happen.

One of the buying strategies for buying a used truck is to find a good used truck with an engine close to overhaul time, and then go ahead and overhaul it. Now you are starting with the major financial component in good shape, and you budgeted for it as part of your purchase plan.

You can minimize your risk by having proper inspections done on the truck before purchase, engine dyno, suspension check, and knowing what you buy. The most follish thing you can do is buy the truck on Friday, go to orientation on Monday, and start hauling on Wednesday. You need to put a used truck in the shop and do some work on it before you go out on the road. I plan on spending 10-15% of the purchase price on maint right after a purchase, doing a lot of work on the things likely to break on the highway and leave me looking at a roadside repair bill.

 

Burky
Thanks. The 10-15% for the engine is reasonable but what should I expect to spend on the rest of the drive train, trani and rearend, and about how many miles on them.
Is the repairs also a tax deductible expense?

 

Okay, let me clarify, the 10-15% is not specifically for the engine alone, but for the overall truck. Buying a used truck, I would go ahead and replace all the fluids and filters. I would change the thermostats, all the belts, probably throw a new alternator, and water pump in, possibly replace the turbo. Possibly put in new injectors, have a mech run the overhead. If the seat needs replacing or upgrading, do it then, same with mattress. Put in new stereo if I want to. Change tires as needed, maybe brakes. replace exhaust tubing if there's any doubts.

Assuming that I had the engine dynoed before purchase, I would know the condition of the internals, but it wouldn't be beyond imagining dropping in new rod and main bearings as a precaution.

This is where I spend the 10-15% on the truck. Things like an alternator that you can't really tell how much life is left in it. A water pump on the highway is a tow and 5-800 in repairs, but it's a 3-4 hour job to do while I have it at home in the shop. Then I know the alternator or waterpump is good. Almost all of these things are on the outer surface of the engine, parts with higher than average potential for failure, and expensive on the road. An alternator costs me 150-175 to do at home and I can change it in 1/2 an hour. It's an easy 5-600 dollar repair on the road if it can be fixed roadside.

I have a strong belief in doing a repair before it breaks down. That alternator that came with the truck might last another 2 years of flawless performance, or it might go bad on your first trip. HWat this comes down to is your gambling instinct. How much risk are you willing to take, and how much are you willing to spend ahead of time to save more money in the future? Everyone has their comfort level, and you have to match your actions to that.

Once you are running the truck, I recommend banking as much as you can initially as a rainy day fund. Doing a pair of rear ends will set you back 3000-4000 depending on the ratio's and availability. A 10 or 13 speed trans and a clutch installed will cost 3000 or so.

 

one thing you will want to know as well is 'was it an o/o who owned it or a company'. that makes a difference. an o/o will look after their truck better (usually) than a company truck. there are still too many company drivers who don't care about how the truck is looked after

 

From my perspective, who owned the truck is nowhere near as important as how the truck is set up. I need a specific engine and trans to do my work, and if that turns out to be a fleet setup, then so be it. I am going to do enough inspections of the truck before I pay for it to have assured myself it is right. As an example, in my line of work, weight is a priority, and buying some overoptioned heavy barge that an O/O specced for himself won't work. And there is no guarantee that an O/O took better care of the truck. Some O/O's run on the financial edge and as a result they slip on their routine maint, stretch the poil changes longer than they should, and get rid of the truck when they sense a major repair coming up in the future.

Neither fleet ownership or private ownership is a guarantee of anything at all, IMHO.

 

Burky
Thanks for the info. Hope you stick around this forum, I'm sure I'll have some more questions.