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

You don't understand, if they buy the truck in December and put in service they can get a 15-20k tax refund. You can take as much depreciation as needed to zero out their income and get all they paid in back. Running team I bet they are each paying in over $150 a week, that would make for a 15k tax refund, or they can wait for 2018 and just let the goverment have all they have paid in.
I really don't care how it plays out but I don't like to give away money I have earned if I don't have too.

Nothing 10k after the truck is ready to go plus a big tax refund is 25 to 30k or more.

 

Regardless if a lease truck costs $500 a week or $1000 week plus expenses.

What's the problem? Your already going to pay those expenses had your truck been sitting idle (minus fuel of course?)
But while your sitting at home scratching your behind your not making anything to pay for it...

Now if you have been running your own truck for a month or two and don't have 5k in the bank. Sell your truck now and save yourself the headaches.

The idea of leasing a truck is to keep cash flow moving. It may not be making "bank" but your still making all your payments and covering most if not all the costs of your repairs aswell.....

How is that a dumb idea?

 

Not to hijack the thread but isnt it an insurance nightmare to have a spare truck just sitting? Sounds like a good idea.

 

Depends on the mode year and the value of the truck and other things. The 359 in my sig pic costs a little over $200/month CDN.

 

??

What does that mean?

 

Anything Mack specs for "stock", stuff that sits on the lot, is an M-Drive transmission. Mack is currently selling, based on customer orders, M-drive at a 4 to 1 ratio for manual trans. For those knocking them, until you've actually driven one, and figured out it's quirks, don't. I've actually grown to love mine, I drove the first one in our fleet as a demo 4 yrs ago, I was skeptical, but combined with the new power leash engine brake, with MAX BRAKE option, I'm sold. I've dropped off Vail and Eisenhower many times holding 7th in manual mode and have to give it fuel to override the engine brake that will bring me to a full stop.

 

CHECK WITH YOUR TAX ADVISOR!!!!!!

The way I understand it: if you put your 401K (IRA) up as collateral, the IRS deems this an EARLY WITHDRAWAL, and income taxes and 10% penalty are due immediately.

Tread carefully!

 

i have only drove a automatic one time for one day it was a eaton 18 speed automatic, i did not, like it. at this point i don't think anyone could convince me to buy a auto unless i had quite a bit of seat time in a good one first. i didn't even own a automatic transmission in a auto until around 08 and that was only because it was becoming almost impossible to find a car with a stick at that point.

 

I'm not a big fan of autos, but the Volvo/Mack autos that I've been around are light years ahead of the eatons. I have a manual, but those Volvo i shifts are like driving a car.