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TruckersReport.com Trucking Forum | #1 CDL Truck Driver Message Board
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<p>[QUOTE="runningman0661, post: 12231880, member: 26831"]Let me preface these comments, I’m not in anyway trying to pick on you, if anything I’m trying to educate you and help you from making a mistake. Wanting to make an extra $1k a month is the wrong reason to want to buy or lease a truck.</p><p><br /></p><p>You now have a truck payment, multiple insurance deductions liability, bobtail, cargo, etc. You have to start a maintenance account, put money away quarterly taxes, a truck WILL breakdown. There is a technician shortage, and a parts shortage. So when the truck breaks down you could be without income for weeks or even months. Could you pay your bills if this happens?</p><p><br /></p><p>Being an O/O or L/P driver isn’t easy in the good times, and in our current economy with high inflation and equipment prices it’s hard AF right now.</p><p><br /></p><p>One final point, as a first time buyer right now in this current market, getting financed will be next to impossible without a huge down payment. Lending institutions don’t like to finance class 8 trucks, and record number of companies and individuals are failing right now. So unless you pay cash for a truck you aren’t getting financing.[/QUOTE]</p><p><br /></p>
[QUOTE="runningman0661, post: 12231880, member: 26831"]Let me preface these comments, I’m not in anyway trying to pick on you, if anything I’m trying to educate you and help you from making a mistake. Wanting to make an extra $1k a month is the wrong reason to want to buy or lease a truck. You now have a truck payment, multiple insurance deductions liability, bobtail, cargo, etc. You have to start a maintenance account, put money away quarterly taxes, a truck WILL breakdown. There is a technician shortage, and a parts shortage. So when the truck breaks down you could be without income for weeks or even months. Could you pay your bills if this happens? Being an O/O or L/P driver isn’t easy in the good times, and in our current economy with high inflation and equipment prices it’s hard AF right now. One final point, as a first time buyer right now in this current market, getting financed will be next to impossible without a huge down payment. Lending institutions don’t like to finance class 8 trucks, and record number of companies and individuals are failing right now. So unless you pay cash for a truck you aren’t getting financing.[/QUOTE]
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TruckersReport.com Trucking Forum | #1 CDL Truck Driver Message Board
Forums
>
Good & Bad Trucking Companies
>
Discuss Your Favorite Trucking Company Here
>
FCC--Fremont Contract Carriers
>
Reply to Thread