Is it ok to buy a truck with high miles? Need some advice!

But that is a question he needs to be answering. Chances are strong, that if he is like 80% of people, he'll be in the ditch of failed statistics, before very long. Most don't make it two years.
Just because you can drive a truck, doesn't mean you can run a business. Just because you can run a business, doesn't mean you can drive a truck.

 

BINGO, you hit on something I was thinking about but don't know yet how to get into. I want to buy a truck and lease it to a company. How do you about doing that? Just give me some food for thought, that's way down the line for me but I do want to do it eventually.

 

If I was looking at older high mileage trucks close to a million miles I'd look for something recently overhauled with papers from the dealer that did the work, otherwise it was never overhauled. As far as trans, rears those really ought to be 2 million mile components. My comfort zone for maintenance is $20k in the bank. I run a million mile Plus truck and just recently overhauled it. It had 750k when I bought it and was a money pit that first year that was a lack of due diligence on my part. With hindsight I am certain I could now pick out better high mileage truck the second time around,as it is mine is good to go another 5 years or more.

 

Wanted to add I wouldn't be in a rush to by used. Used truck prices look like they are going down recently. I've heard the markets in Russia, eastern Europe, etc for used American trucks is dried up. Fuel is up and rising. Jan, Feb will likely be a buyers market. Not a given, but that's my gut.

 

i drive a lot of transmissions with 1 mill plus miles.

THEY SUCK. bearings all worn out and crap. one even has a habit of popping rear ends.

 

Guess it depends on how many and who beat on it.

 

Go to truck auctions. Shop around for awhile and find that right truck as it can be done. I buy trucks below $20,000 at auctions all day long. 2004 century class with 700,000 miles going for $15-$20,000 all day long. Your hoods(pete 379, Kenworth w900) go for alot more but volvo's, international, and freightliners are going for $20,000 and under for 2000-2005 models all day long. LIke I said you need to shop around and find the right truck for what you want. This is a business so yes you are going to have to spend money to maintain it.

 

If they some how lost the overhaul papers they are lying to your face. Don't fall for it as they are trying to sucker you into buying their junk. If you seriously have $18,000 for a truck and another $7,000 for getting going then I would say you need to save another $5,000 for repairs starting out unless you have good credit to cover the repairs until your funds from the business start coming in. You are really close to making a business happen. You will need to maintain a balace of $10,000-$25,000 in a repair account for when the time comes. Keep on track and be a success story. Good luck.