LP of 6 years, on 2nd truck. Need Info on how to buy Conestoga trailer.

Discussion in 'Lease Purchase Trucking Forum' started by Bossladyflatbed, Feb 2, 2021.

  1. Bossladyflatbed

    Bossladyflatbed Bobtail Member

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    Hi, My husband & I have been in Flatbed six years now & we finally figured out how to stay steady & good lanes, but we really want a conestoga. We have rented our 48 ft flatbed trailers till now. it costs $300,00 per week for a 2020 with a side kit. What do you think it costs per month for a conestoga, where should we start looking, do they need great credit or will they use your taxes? Do you have any advice on this I am missing? We paid off our first LP truck just as it broke down so its sitting for now, & we owe 20k on this one. Hoping to find a way to get a better truck soon as well. Also wondering how others use the paid off trucks for leverage to buy new equipment. These trucks go down with deff issues all the time. We need to run more & be broke down less. It's been a huge learning experience doing the Independent contractor work & LP. We still feel pretty new at this on the business side as we had not had any such experience in the past. Thanks for any ideas or tips, we just hope to learn & survive better in this industry. WE love the road, & the trucking we just need help with ideas on navigating a good path forward especially on the business side. Thanks so much!!
     
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  3. blairandgretchen

    blairandgretchen Road Train Member

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    Oh boy. In 6 years at $300/week you have paid for 3 brand new flatbeds.

    I’ve been at this 6 years also. I bought a 2001 truck for $12,500 cash, and bank financed a $30,500 53 flat. In the 6 years, I sold the 2001 and bought a ‘95 379 with a 120” sleeper, sold the 53’ and bought 2 specialized trailers.

    Everything is paid for - personal and business.

    I work less than half the year solo and gross over 200k.

    I’m not saying this to brag or boast - I’m trying to explain that your root business plan is flawed. With one paid off, but broken truck, another that may be in the same shape after it’s paid off, and high rent on a flatbed, I don’t see how a conestoga will be a magic bullet solution to your situation.

    You could team for an LTL company and earn $200k+ /year , pay off debt, save and buy a reliable truck and conestoga and return to the game on a far more solid footing.

    Good luck, whatever you decide.
     
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  4. blairandgretchen

    blairandgretchen Road Train Member

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    On the business side, we could start with some numbers - after 6 years you should have a decent set of figures to review, and see if we can help.

    You have to build in equipment upgrade/replacement into your plan. I went with a budget for rebuilding rather than replacement. All these costs are calculable, but if the revenue doesn’t support them, you must alter direction - or exit before excessive bleeding begins.

    I hate to see people struggle, when help is available, sometimes folks just don’t want to hear the truth which becomes inevitable, and suffer to the end.

    Shouldn’t have to be this way.
     
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  5. Bossladyflatbed

    Bossladyflatbed Bobtail Member

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  6. Bossladyflatbed

    Bossladyflatbed Bobtail Member

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    Hi, Thanks for the reply. There are more details than what I put on here, I was trying to give an idea of what we had been doing. No, we have not done great until recently we were always told we needed to give it 5 years to learn the trade & know how to handle it all. So we started out with a training company first year to cover training, then went into an Independent contractor & signed on to an LP contract with a rented trailer. At first for a few years the trailers ran about $150.00 per week, but this year we decided to see if we liked the side kit so we rented a 2020 & yes it is expensive which is why we are looking to see how much we could save on our own soon. We are able to write off rentals & we do not pay for anything that goes wrong with the trailer so there is that. The first truck we paid off after it had broke down but after putting all the work into almost paying it off we were not just going to give it back. lol It really only needs filters now, we have fixed it up well. We didn't want to sell it the first year due to capitol gains tax being so high so we thought we may leverage it to get a trailers or as a trade in. I wanted opinions on that. The 2nd one we are driving only has about 18 grand left to pay at $400.00 per week it's newer & in pretty good shape. We bring home money after all our bills are paid, we did suffer a lot in the beginning due to so many break downs with the first truck but we are doing much better now. I just want to get ideas on how others would proceed from here. We want the Conestoga because of what we haul & multiple stops it would really help out. We have never bought anything like that though so we are just trying to get as much information as possible. Again, Thanks so much for the reply!
     
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  7. Bossladyflatbed

    Bossladyflatbed Bobtail Member

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    Hi, Thanks for the reply! Yes, thats sounds right. Our issue is until this past year we had been in survival mode, either making it by ok or breaking down long periods lol no happy middle grounds. We are better now in this 2nd truck, it runs much better. I am basically trying to figure out how to use our paid off truck (we are repairing) to our benefit & the next one we pay off. We would like a better truck eventually but for the immediate we want a Conestoga because it will really help us with what we haul. So I was hoping for ideas. Thanks so much!! :)
     
  8. blairandgretchen

    blairandgretchen Road Train Member

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    Dec 9, 2011
    South west Missouri
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    Well - I know this much.

    Banks consider trucking high risk, so a business loan under your LLC (I assume you operate under LLC) usually has to be over ridden by your personal credit, or equipment liened.

    A conestoga kit is about $14k, new trailers about $30k.

    $44k - have you considered selling the first truck and buying the kitted trailer outright?

    What kind of “all revenue per mile to the truck” have you been averaging in the last 3 years?
     
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  9. blairandgretchen

    blairandgretchen Road Train Member

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    South west Missouri
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    $18,000 left to pay on current truck - 45 weeks. That’s light at the end of the tunnel.

    What year/model/miles?

    Trailer is what’s killing you. New trailers have almost zero maintenance for 3-5 years, tires aside.

    Even at 5-10 if not abused, they’re inexpensive maintenance wise.
     
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  10. Bossladyflatbed

    Bossladyflatbed Bobtail Member

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    Hi, The truck is a 2016 Freightliner with around 590 thousand miles, but it's not using oil & running good so far. We keep up on the 6 month maintenance. Do you have any recommendations on where to get a good Conestoga? Thanks!
     
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  11. Fatboy42

    Fatboy42 Light Load Member

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    I run a 1986 international 9670 and until 12-21-2020 a 1996 Wilson road brute 48 flat with side kit i bought in 1998. I decided I wanted a conastoga as I’m a steel hauler and remove my sides many times a day and also being an O/O with own authority sometimes I got to completely remove the side kit and then bring a tarp for return trip ( I’m tired of that) so I start searching for a not more than 5 year old trailer with conastoga all aluminum minimum 8 foot inside height minimum 60,000 in 4 feet. Well no luck so I went to areo in Indianapolis and priced a conastoga $15740 installed with sky light every other panel door in bulk head quad uplift Bowes. So I figured I could locate a good used trailer about 2 years old. Nope not happening in my spec range with at least 4 rows j hook in a price that matched condition. So to shorten up the story I bought a 2021 benson 724. It has 4 rows j track 15 pair chain ties 10 j plates 12 road side winches and cam lock 24x24x60 tool box on road side between spread 8 aluminum wheels (24.5) auto rear inflate dump valve for rear axle. $42,000 out the door including FET. I’m extremely happy with my set up. But I have saved for this trailer for years and paid cash for trailer and conastoga. I have a1993 379 I almost have finished to pull it with and will retire my cabover I have driven the last 20 plus years. Nothing wrong with it just want more comfortable ride and not having to get dressed laying down.
     
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