Flatbed vs. Stepdeck

If you dont mind, what carrier are you with that is charging 15% interest on a trailer?

 

3.5 years to pay off 18k? At 15%? That's insane...
You would be further ahead to pull 18k off a line of credit then pay your line back at a faster rate, as much as you can afford every month. Better yet, if you have 18k in cash just pay it and be done with it.

 

Paying 18k to own a 4 years old trailer that wont sell for much over that doesnt sound as a good deal to me.having a stepdeck doesnt automatically translate to better paying freight.
Im thinking about selling my paid off 2015 step to get an rgn but when i calculate how much money i’ll be losing i think its a bad idea.

 

I won't say anything about the financing. But my next trailer will most likely be a step deck. I don't see loads daily that would keep one busy on my load board. But I see a few each week that make me drool. Almost all flatbed freight will ride just fine on a step. Some even better. JMO.

 

That sure is a good way to trap somebody into fleece purchase.

 

They seen you coming.

 

If you pay it off early will your leasing company still charge you 15%. Look at your trailer lease contract, and look for something titled “Rule of 7/8ths”, it can complicate your situation.
Here is the definition, everyone who borrows should be aware of this rule, whether it’s truckin related or not.

Rule of 78s - Wikipedia

No comment on your plans, you’ll need some hard numbers to make a good business decision.
Maybe the leasing company will negotiate the payoff price with you. No harm in asking if you have the funds available. But don’t roll the payoff into the price of the new trailer, you’ll be upside down, and you’ll drown in debt.