Finally got my own truck

Discussion in 'Ask An Owner Operator' started by BoyWander, Jan 1, 2017.

  1. nax

    nax Road Train Member

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    QFT!

    I'm hoping to be at no more that $800/month (i.e. $200/week) payment....and convert that into ZERO note within 36 months or less. <<fingers-crossed>>
     
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  3. spyder7723

    spyder7723 Road Train Member

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    Even 1650ish a month is no big deal. The key is to not spend every dollar you make and don't take off ers at a time when the market is booming. Plan those extended vacation times for when the market will be slow.

    Edit to add: that holds true no matter what your truck payment is. Plenty of guys with paid off trucks go broke cause they spend everything they make.
     
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  4. BoyWander

    BoyWander Road Train Member

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    It don't really matter if you don't have a truck payment - you still have to put money aside for repairs, and the truck won't last forever - you have to put away money for the next truck that you'll eventually get.

    Now the truck payment I have, $2595/Mo, for 5 years, if I keep it for 10, I could technically, as far as my expenses go, spread that payment over 10 years and say to myself that my payment is only $1300/Mo but I don't.
     
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  5. spyder7723

    spyder7723 Road Train Member

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    Nor really. Unless you refinance it. The payment is what the payment is. Not like you can send less than the payment and the finance co be ok with it. You are talking about lifetime ownership cost, but you have to include all maintenance and repairs in that figure.
     
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  6. BoyWander

    BoyWander Road Train Member

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    Sitting in Grand rapids. Market is pathetic. I'll drive the 110 miles and go home and come back out Wednesday and work the weekend instead of coming home Thursday for the weekend. I'm tired anyways and could use a couple of days. I'm not taking these $1.30/mi two day loads to Georgia. Screw em. I made enough money the past month to justify a couple days off.
     
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  7. dngrous_dime

    dngrous_dime Road Train Member

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    Home town for me.....
     
  8. LoJackDatHo

    LoJackDatHo Medium Load Member

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    Not really. While the truck is new and under warranty, you still need to be putting away the maintenance money as if it were old and paid for. You could still have repairs that warranty doesn't cover, plus warranty doesn't make truck payments for you or pay your household bills while truck is in shop for warranty work. Also costly repairs get paid in full, upfront, not monthly. Think of it this way, once the truck is paid for, you have the money sitting there drawing interest until you need it for a $30,000 overhaul or $6000 tranny, etc. Maintenance and/or repair money needs to start day one. Then when truck is paid for, if you can, put all or at least half of payment away for either new truck, or retirement fund. Just my opinion anyway. Probably not worth much.

    All that being said, I still wouldn't want a truck payment. I can repair or rebuild mine as needed way cheaper. Plus doing all the work myself helps. Matter of fact just saved about $3000-$3500 in just labor putting in a clutch and tranny. I just pay myself that money instead of the shop. Remember, don't work for free
     
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  9. Knucklehead

    Knucklehead Road Train Member

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    I believe Flint is a good gateway to other freight areas within 2 hours, S, E, and W. Have you checked into Canadian freight headed for points south out of Port Urine?
     
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  10. BoyWander

    BoyWander Road Train Member

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    Lol....Port urine? Lol...

    Flint Detroit was so bad today every time I call on a load it's covered.

    I dead headed to Ohio where I went to Speedco in Beaverdam and hoping tomorrow I can find a load to George Carolina for Friday. I can deadhead to Toledo, Dayton, or Columbus from here.
     
  11. Knucklehead

    Knucklehead Road Train Member

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    Check with Load One in Taylor. John Elliot is easy to deal with. They're both expedite and truckload. Some of those Canadian loads go thru there. Mostly regional.
     
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