Lease new vs buy old?

Why are you wasting your time and energy with these internet trucking "experts"????? Most all of them have failed at trucking on this site. Why do think they spend all day and night here??? They have nothing else. This site has less credibility than a truck stop lunch counter......

 

It was 6 figure not 7 and I walked away after my wife and only son passed away within 4 months of each other. I walked away because they asked me to walk away because I was drinking heavy to bury the pain. That was 20 years ago. Do you really think you know me?

Also let me know if you need an explanation of the difference between a stock broker and an investment banker.

 

You make a good point. But I'm sitting in my home having my fourth and final battle with cancer (very, very recent news) and there are good people on here. The rest I consider free entertainment and an easy distraction from my reality.

 

First of all big Zilla the comment that Larry made in reference to me financing a truck had nothing to do with economy the state of the economy or anything therefore he was making a comment that he thought the decision that I was making to finance was a good decision and the fact that I had funds behind me to weather any type of situation that could come my way
second of all if you had a comment to make you should have came on and made the comment instead of trying to correct everybody and tell everybody that you know everything about everything about financing and trucking that's not what this form is made up of if you disagree with somebody that and you have something else to say then you should State the fact and not tell them that they don't know what they're doing and you know everything about everything because nobody nobody knowes everything about everything
Third I believe you're a question about my financing should have been directed to me not to Larry if you had any doubt on my plan you should have asked if I had a business plan set up and that why I am financing half of my equipment basically it's because I don't want to buy and drive and fix and older truck I'd rather buy a new or truck that I feel comfortable in and that I feel comfortable if I have to put a motor in doing so that question should have came to me not to Larry
And last but not least no matter what shape the economy is in everything you eat wear or touch or drive at one point in time came in a truck that will never change no matter what shape the economy is in they will still need trucks and they will still be truckers basically we won't be making the same money we were making. So if you have the right answers about financial planning and what the economy is going to do instead of coming on here and telling everybody that you know everything about everything you should come on here with facts as to how to whether the economy that's upon us. that's all I have to say

 

I NEVER SAID FINANCING OR LEASING WAS RIGHT OR WRONG!!!!!

I NEVER CLAIMED TO KNOW EVERYTHING ABOUT TRUCKING. QUITE THE CONTRARY... I OPENLY STATED THAT I KNOW VERY LITTLE ABOUT TRUCKING THAT MY OPINIONS WERE BASED SOLEY ON MY BUSINESS EXPERIENCE.

I did confront people who made bold untrue statements or statements of opinion with no basis in fact. I don't care what anyone thinks, that is the only good thing about my situation. That leaves me no reason to be dishonest. What I said about someone giving specific financial advice without all the information one would need to give that advice stands. IT IS WRONG! How exactly would he know what is enough cash reserve for you? Does he know you finances? Maybe you have a special needs child that requires 24hr care and 15k a month in medication. Maybe you have a trust fund that brings in 50k a month. Anything is possible. To not know these things and make such a bold statement is IRRESPONSABLE.

I STAND BY EVERY WORD. I HAVE OPENLY ADMITTED MY MISTAKES IN LIFE WHICH SHOULD TELL YOU I DO NOT CONSIDER MYSELF BETTER THAN ANYONE.

PARDON ME FOR SPEAKING FREELY.

I expressed opinions based on my experience to promote a healthy thought process while making these decisions. I don't profess to know everything. I do know what my experience has taught me. We, all of us, are nothing more than the sum total of our individual experience.

 

A friend of mine had two trucks reposed in the 80's because of a poor decision, had one truck he drove and bought another to put a driver in. Didn't work out to well but he learned and didn't give up. Today he is nearing the end of his career as an O/O and has done quite well for himself. I'm not saying that one should just casually sign their name to a loan with the attitude of if it doesn't work out, eh, so what give it back. Not at all what I'm implying, I think you get that.

As for buying a fixer upper that you can pay cash for, if you like to wrench than go for it. I don't like to work on them, I like to drive them. I'm a good driver, but I'm only a fair mechanic. I'm the son of a diesel mechanic, I understand mechanics, but I don't like to work on them. As I stated in my earlier post I'm usually on the road between 3 and 4 weeks at a time, so when I'm home I park my truck and walk away from it. If it needs repairs I let people that are skilled at that task do it. A trained mechanic can do the job much more expediently than I can and I get to do what I want when I'm home, which is usually cooking for the family, doing honey do's and playing on the trails in my Jeep. That's why I do not plan on buying a used truck again because I have other things I would rather spend my down time on, and some of my used trucks have cost me in a years time in repairs as much as a new truck payment would have been. There is a reason why the mega fleets don't keep theirs any longer than they do, I'm sure there's more than one reason but I know cost of up keep and return on money invested is one reason. Now for the O/O that purchases a new truck, how long should one keep it, that's another discussion entirely.

My business decisions have come from my experiences over the last 15 years, that's why I know it's good to have good partners in financial, mechanical, and a carrier for me anyway. Leasing on to a carrier is the best fit for me anyway, I like things simple, you find the freight and I will move it.

I know my way isn't the only way, but it's what I believe is the best way to operate my business at this time but I'm always evaluating everything I do.

 

I'm sorry to hear about your battle, hope the best for you.

 

I'm thinking we may need to continue this discussion of economy in one of the other off topic areas, I've always wanted to discuss certain points with a banker.

 

I don't know if you do or do not drive a truck, but if you do you are one of very few I have ever met with such ability to control your biases effects on your logical process. I commend you for your critical thinking skills. These are skills I have never seen in a fellow driver outside of a few on this forum like double yellow, hurst and now you. The world will miss you when you do go be it in 100 years or a couple hours.

Your comments are like airplanes passing overhead to the majority on this forum, but I just wanted to let you know I appreciate your contribution. The world needs more people like you.