Minimum amount of cash in the bank to start O/O

Mack doesn't factory spec anything with a manual anymore.

 

Funny thing is, those are custom rims, the sales guy told my boss those are almost $10K in rims. The truck looks like they were going for a "Rubber Duck" look from the Convoy movie

 

I despise this "blackout" trend. Wheels, grills, door handles etc are supposed to be chrome.

 

i would want that ch but without the ugly rims with a 18 speed a little more wheel base and a pusher axle and a geared a little lower. if i were to decide to buy a new truck it would probably be a ch. custom ordered.

 

$500/wk comes out of his paltry $10k.

 

Renting a truck is a good idea if your going to be down for even just 1 day. We all know that a 1 to 2 day repair many times becomes a 5 day repair. Just bite the bullet and get on with it.

I would disagree with his cost of rental though. Typically your looking at 120/day or 600/week PLUS 12 cents per mile. If you ran 2500 miles that's an extra 300 on top of the 600 base. Throw in insurance plus a good chance they will nickel you on finding something damaged, and your looking at 1000 to 1200/wk to rent. That's on top of all your original expenses.

It still makes sense to go that direction though. Just another reason folks need a lot of backup capital. I generally look at cost of the rental as part of the cost of the trucks repair.

 

I agree wit the leasing thing. Just saying it costs money and that "old man" said he only needs $10k in the bank. $10k is NOTHING

 

If you're leased to somebody and paid weekly you have guaranteed cash flow which reduces the amount of startup funds you'll need. I had a little over 10k in the bank when I bought my current truck and leased it on running General Refrigerated freight and had no issues making ends meet. If you don't have the truck yet or you have pressing personal obligations you may need more like 15-20k. Being leased to someone in the segment you're in I don't think you'll have an issue. I don't recommend buying cheap all cash on a truck. Anything 2012 and later with good maintenance will do the job fine. I don't recommend anything over 450k miles either. You want something that will only give you small problems for the first year as you build the bank account. Cash flow is king, don't pay cash for something cheap when you can finance something decent and spread that cost out over time. This has been my strategy and it has worked well for me so far.