$40K and I'm gonna do what they say can't be done

Discussion in 'Ask An Owner Operator' started by OneDollar95, May 5, 2008.

  1. OneDollar95

    OneDollar95 Light Load Member

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    Apr 16, 2008
    Toronto, ON
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    I got $40,000 to buy a truck. I've kept another $5K for taxes and diesel to transport it, and have a reserve for maintenance for the entire year June 08-Jun 09 at 0.13/mile average.

    What in the world should I buy for that much? Please advise. I really listen and take advice seriously if there's years of wisdom and experience backing it up.

    I need to get an 02 or 03 as that is "pre emission?", and I don't know what to spend it on. I need a truck that has 500-600K on it, even if there's a documented inframe done recently. I need to be able to drive it for 4 years before I sell it off at 150K each year. These are the ones I like the looks of at least but don't know much about their reputations.

    Freightliner Coronado
    Peterbilt 379
    Peterbilt 387
    International 9900i Eagle
    Volvo VNL and 3 random digits I never get (the newer looking one)

    What would YOU do if you were in my shoes right now?
     
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  3. MedicineMan

    MedicineMan Road Train Member

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    Woodville, TX
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    what are you going to pull? If you pull a van then a nice t600 or one of the other aero trucks. If flatbed then aerodynamics is a bit less of a concern but a mid roof would be better then a cndo type setup. Personally with a flat or a tank I'd just go straight to a 379 or w900. I think the aero effect at that point is minimal anyways.
    I'm partial to the pac car products (pete, kenworth) they hold there value better and if you are buying then that is a big concern. You go to sell an old freightliner and you have one of 10 million freightliners for sale and you will be lucky if they don't charge ya more to take it off your hands instead of giving ya credit for the heap. (can ya tell I'm not a freightliner fan?)

    You should be able to get a decent truck for that in the years you mentioned. Try to find something that has been overhauled. MAny times dealers will take in a truck with thse miles and overhaul it before they sell it and that is a good way to buy
     
  4. animal control

    animal control Medium Load Member

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    Aug 7, 2007
    Where I come From
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    I would have a crystal clear JOB for my purchase. And figure on the amount of money to turn a profit,ect. Go from there.

    I have been there and done that sucessfully.I would go overboard for the blue one.Somthing would happen.Then I got a hard-on for the black one,and that deal falls through ect,ect.

    If your like me you will know it when you see it in person.And will fork over your hard eared money for it. It will hurt
     
  5. OneDollar95

    OneDollar95 Light Load Member

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    Apr 16, 2008
    Toronto, ON
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    Thanks MM, I didn't even know that there was a difference on what you're pulling. I thought aeros are usually on fleets, and flatnose are choice for o/o's. I'll be pulling a dry van more than likely.

    BTW, while I got you here, are companies gonna raise their fuel surcharge pay, or are middle sized companies gonna get squeezed out?
     
  6. OneDollar95

    OneDollar95 Light Load Member

    64
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    Apr 16, 2008
    Toronto, ON
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    I hear there's way too many Canadian companies that will give $1.55/mile to O/O's. They even guarantee mileage and contracts for OTR, so I feel it's a safe bet for small ol' me. I think middle sized companies are the ones feeling the pinch since they have overhead (offices, dispatchers, service people, etc). They're selling trucks left and right. I heard the $40K I'd pay for a premium 5 year old Pete right now was somewhere closer to $55K a couple years back.

    I did a 4 year projection with deisel at $5.00 a gallon, and it might be OK for just me and I could spare $0.19/mile for a reliable broker if I need one.
     
  7. MedicineMan

    MedicineMan Road Train Member

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    Woodville, TX
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    Fuel surcharges are based off of the department of energy average fuel price which is updated weakly so the fsc changes weakly. oh my... I mean Weekly LOL, :biggrin_2559:

    as for companies who knows. there is lots of companies out there that are poorly managed. The trucking industry was real good for a few years there so even a monkey could keep a company together then. Now is when we see what they are made of. But on the plus side the more of them that go under, the higher freight rates will get.
    I however feel that we are about to see the truck dealers do another great truck push. Essentially chap financing for anyone willing to sign there name since they are sitting on so many trucks. This wouldn't be good and is basically why we are in the predicament we are in now
     
  8. OneDollar95

    OneDollar95 Light Load Member

    64
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    Apr 16, 2008
    Toronto, ON
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    Yeah, I feel that the longer I wait, the better prices will get. Just two week before I got my CDL, I started window shopping, and I really see better deals already. 03 387's were priced at around 45...today they are going as low as 30...of course there's a huge window based on condition etc.
     
  9. BigDiesel

    BigDiesel Light Load Member

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    Mar 20, 2007
    Somewhere....
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    You might want to consider that getting insurance will be non-attainable or very very expensive for someone who has just received a CDL....

    Why do wanna be starry eyed potential O/O's think they can put the cart in front of the horse...................:biggrin_2552:
     
  10. jdrentzjr

    jdrentzjr Road Train Member

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    All over the USA
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    Put that money in a good money market account for now. It is not a wise decision to become an o/o as a new driver.

    Find a good company, get at least two years of experience. This will give you some time to find the type of hauling you will want to do. With that knowledge you will make a better informed decision on what truck you should buy.

    Also, having that kind of money in the back as a new driver will help you over come the ups/downs in your paycheck. It will also provid a nice cusion to land on, should you decide trucking life is not for you.
     
  11. Brickman

    Brickman Trucker Forum STAFF Staff Member

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    WY
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    .19 a mile for broker fees. Dude seriously we all admire your ambition but probably 75% to 90% of the brokers out here don't even get out of their lazy boy for that!!!!!!!!!!!!!!!!!!

    I don't know about Canada but down here without experience getting O/O insurance is next to impossible, if you are able to find it it'll be cost prohibitive.
     
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