It's that time again........

Discussion in 'Ask An Owner Operator' started by Green_20, Aug 19, 2023.

  1. Green_20

    Green_20 Light Load Member

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    May 24, 2012
    North Carolina
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    Well, I will be turning 32 this year which means I have officially had the CDL A with all endorsements minus hazmat for the last 10 years of my life and some minor legal trouble. I have learned a lot in the industry and have taught my self to trade the Financial Markets to an extent and have many expensive'ish hobbies, but its now officially the time to purchase a truck. This is my Main Career after all, No Kids and Back to Single after wasting 6 years of my 20s. What else do I got? I plan on continuing to Invest in the financial Markets Long term and jumping into real estate as well. I would like the Real Estate Side of things to take over this one day so I can Retire. The goal is Passive income so I can do what I want, when I want, where I want. Early retirement in a sense....

    I forgot to mention, I got 3+ Years of Switching Experience in there due to the legal trouble for a year which was Non-Class A. I will out back anyone of you, that I can promise! (Night Rider Here) I went straight back to driving with the previous Employer part time on the side the last couple years during the heat of the pandemic. My said Employer also has an Asset Based Brokerage, we are up to I think 16-18 Trailers. If you want info on the Asset Based Brokerage, DM me.

    Here recently since being back full time I been running a dedicated lane getting return loads to get back home, rinse repeat. I get every Rate Con and know how much each load is paying going both ways. We will have to discuss it, but as of now I will be getting roughly 75-80% of what the load pays.

    I already obtained my LLC and all paper work, but I am throwing the truck under my Boss Mans Authority for cheaper Insurance, Fuel Discounts, automatic deductions etc..... It's less I have to deal with! I just gotta do the Quarterly Taxes and Pay my Self. I can focus on delivering the loads, fixing and driving the Behemoth. We have Tools in our Garage I can use, but here the past two months I have started a larger collection of my own, just to throw in the truck! Major repairs will go to the shop. I can also hook up to any ECM out there. I have all the software for Cheap, don't bother asking how I get that unless I get a cut! :) I am one of the fortunate people who have the Advantage to jump in a Company Truck if my Truck is being worked on and get paid as a regular company Driver. Yes, I got that type of Luxury with my current employer and friend.

    Anyways....


    Call me crazy, buts its a 98 Kenworth W900l - Recently painted - not the best of paint jobs
    Total is $81,000, I'm putting down roughly 21k Cash - Payments are high - 3500 a month for like 22 Months

    Truck has 1.4mil Miles - 526k Miles on the ECM

    I do not ever plan on selling this truck and if I do, the original Owner of the Truck will be First Priority!!!

    Oil Sample Was Pulled, Need to run another oil sample after I change the oil in about 4k miles, Iron Level was high - 190ish. My Mechanics Concern was Crank could be going, Cam shaft is new so I doubt its that. She has a lot of compression though and with the recent overhaul I think she should be fine. I'll be building a 60k Emergency Fund right off the bat and may even buy a second motor with the same specs and throw in storage.

    Needs new Drums & Shoes in the front in about 50k miles - 75% Tread Life on 24.5s -
    Minor oil Leak/Drip Near the Fuel Pump. Small Seepage on the oil pan, Driver Side. I may need a new gasket and hardware to address that, will try to tighten bolts first. She is practically RUST FREE all around, even under the Cab. Block has some Minor Chipped Paint which is expected, no serious Rust issues anywhere on the block. Very Clean!

    New Kingpins
    Spindles
    Brakes (Rear)
    Drums (Rear)
    Chambers
    Slack Adjusters and Suspension bearings
    All new Airbags all the way round + Plus Sleeper
    All the Shocks look new as well

    SPECS:
    72'' Sleeper - ELD Exempt
    13 Speed with 3:70 Rears
    12.7 l Detroit 650HP
    250,000 on Overhaul
    78mm Turbo
    7014 injectors
    Stainless manifold
    800 marine cam
    Dyno and tuned over 650 HP

    "EDIT" I forgot to mention, all new VIT Interior, 2 Brand New Legacy Seats.

    All New LED Lights and after market Headlights, Brand New Water Proof Floor, Vinyl Wrapped Dash. Their was an Issue with the A/C Not functioning, but apparently it was low on Refrigerant so the clutch wasn't engaging and they fixed that issue, but in the future for 3 grand I'll drop all new AC Lines and Components. Needs new Clutch Linkage at the Fire Wall $75.

    I pull light loads on my dedicated runs, -15k at Most, but typically around 12-13k. Return trips are the 41-43k Loads. Previous owner of the Truck had an Over Weight Permit and was pulling 90k Lbs on the Regular with it. Driver said he was getting 5mpg/5.5mpg with the truck and running steep hills and mountains. I'm not worried about spending a bit more on fuel personally, because I like to get where I am going and I'll look better doing it... If that Cost me XXXXX Amount of dollars each year then so be it! I'll pull them high dollar loads when I find them too also to compensate for it. I can always Tune the Truck and have her run more fuel Efficient if I wanted seeing as I also have that option.....


    End Goal - Fully Functional Working Show Truck! I got a list of parts and things I want to do to her already... :)

    Pictures soon!
     
    Last edited: Aug 19, 2023
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  3. Ridgeline

    Ridgeline Road Train Member

    22,144
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    Dec 18, 2011
    Michigan
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    Don't buy that junk for that price.
     
  4. Arctic_fox

    Arctic_fox Experienced mx13 execrator

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    Sep 16, 2016
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    Ridge nailed it. Your buying a problem child at best and a ticking time bomb at worst.

    For 81K that is highway robbery. You can get a much cheaper simular spec truck for about 30k drop a rebuild in it, likely a reman transmission and a full set of new tires and likely get the diffs rebuilt and STILL have money left over for the 81k they are asking. Hell you could buy a modern 500k mile truck, have the emissions entirely REPLACED and maybe a rebuild and still come out cheaper in many cases.


    Those payments are also bonkers. I paid twice as much for my rig and pay less then half your payment on a 36 month loan. I mean for ####s sake your paying nearly a grand in intrest and fees a month. The APR is what like 20%?

    Dont do it man your getting robbed.
     
  5. NorthEastTrucker

    NorthEastTrucker Heavy Load Member

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    Sep 21, 2019
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    We're in a recession as much as some don't want to admit this or even say it. For truckers its a Freight Recession. Yes, some older trucks are o.k. however old is old. A truck with 1.4 Million miles on it will have numerous continuous costly expensive issues. The Trucking market is at its worse I've seen it since I started in the 90's mainly because of over capacity (too much trucks available for the amount of loads available) Of course Supply vs. Demand. Where Has All The Freight Gone? Trucking Slow Down 2023 - YouTube <<<This video regarding what he mentioned about railways taking over 63,000 plus loads is not something to over look or ignore. (Time: 0:30 to 0:50)

    I would never discourage anyone from their dream of buying a truck. However, from last summer to now its been a Major downturn in Trucking. Google how many trucking companies went under and think about your overhead expenses including fuel expenses.]
     
    Last edited by a moderator: Aug 19, 2023
    Reason for edit: Typos Missing content
  6. 77fib77

    77fib77 Road Train Member

    10,190
    62,948
    Jul 7, 2010
    St Louis
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    I would buy at auction Ritchie brothers. Actually I wouldn't buy. Trucks haven't bottomed in price yet. No point to get into the market until prices have bottomed.

    Why do you need 650hp. Reliability wins the race. Unless your doing RgN with 3 axles.. You dint need stupid HP.


    Also fuel is how much? Economy matters more now than ever.
     
    Last edited: Aug 19, 2023
  7. xsetra

    xsetra Road Train Member

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    Aug 21, 2011
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    I call you crazy.
    That high dollar route you have could vanish Monday. Can you sustain the payments with less income? What if you need to in or out of frame that motor in a couple months?

    He doesn't want it back. Certainly not at that price. Easy to tell. Is the seller financing you? He already got the value of the truck with your down payment. The rest is gravy.

    My intention is not to offend you. I see truck ownership 2 ways. Buy new, pay the high monthly payment, hopefully low maintenance. Or buy old have high maintenance and none or low monthly payments. Having both is going to be a hard road.

    Plan for the worst and hope for the best.

    Good luck
     
  8. Long FLD

    Long FLD Road Train Member

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    Mar 4, 2015
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    I didn’t read about the truck, I couldn’t get past $17k worth of interest on a $60k loan. Those are almost some loan shark numbers.
     
  9. rollin coal

    rollin coal Road Train Member

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    25,928
    Mar 29, 2008
    TN
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    If you want an early retirement get a job at a solid company with good benefits and bust it for 20 years. Buying a truck turns out to be, more often than not, a money pit and financial mistake. I feel like I wasted 13 years of my life owner operating that I can never get that time back.
     
  10. Midwest Trucker

    Midwest Trucker Road Train Member

    5,871
    21,125
    Aug 31, 2018
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    Love the enthusiasm and confidence but I’d go with something much newer and way more efficient. Like no more then 3 yrs old and gets 8 mpg. For 80k your probably not too far off.

    Worry about having a show truck once you’ve made your millions and can afford it.
     
  11. gokiddogo

    gokiddogo Road Train Member

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    14,766
    Mar 5, 2012
    Ontario Canada
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    Buy me out
    I've had enough of driving these things and dealing with the bs in general

    20190821_033636.jpg
     
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