NADA used truck values

Discussion in 'Trucks [ Eighteen Wheelers ]' started by Jimbo56, Jul 28, 2009.

  1. Jimbo56

    Jimbo56 Light Load Member

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    I've been thinking about this for a while. Purchasing a used truck and heading out into the the vortex of a black hole and trying the O/O route. To be honest after reading a few of PP and MM exploits I'm almost too scared to try.

    Truck values are low.......but so are the rates.

    Is there a kelly blue book or similar which lists loan values and market prices for used Class 8 trucks? After reading sites such as truck paper.com, I've noticed values fluctuate as much as 15-20K for similar vehicles. Granted a lot is probably based on the vehicles condition, mileage, etc, but there doesn't seem to be any rhyme or reason that I can see to the asking prices.

    Inquiring minds want to know.
     
  2. bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    You can get the black book value by googling Truck Appraisals. There is a fee for the value of your truck, and you have to know the VIN.
     
    Jimbo56 Thanks this.
  3. Jimbo56

    Jimbo56 Light Load Member

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    Thanks wife.

    I saw that. I think it's only about four dollars for the value. I was hoping to find something similar to Kelly Blue or Edmunds.com. I'm just testing the waters so I don't have a VIN to apply to the black book yet.
     
  4. tmlonghorns

    tmlonghorns Light Load Member

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    The value of a truck is only what someone is willing to pay for it
     
  5. LBZ

    LBZ Road Train Member

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    I was thinking there was a thread on this board that someone noted all of the blue book sort of sites. I should have subscribed to it that day to make sure I could find it again.

    Surely I will stumble across it again a day after it would no longer be needed. ;)
     
  6. Jimbo56

    Jimbo56 Light Load Member

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    My plan is still in the very......very early stages. I've been out of a truck for almost two years and most companies I've talked to require "recent" experience or having just graduated from a CDL school. I'm not going to pay a company six grand for a license I already hold. I can take that money and put down on a decent truck.

    Truck values are low, my credit union says they will finance but I don't want to get stiffed because I don't know the used truck market.
     
  7. LBZ

    LBZ Road Train Member

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    Watch online truck sale sites & you will see a fleet of trucks at various dealers throughout the country all with the same spec's & mileage, probably from the same auction with retail prices varying 15 grand.:biggrin_25510:
     
    Jimbo56 Thanks this.
  8. snowwy

    snowwy Road Train Member

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    might even check the local auction. we have one coming up shortly. but don't look like anything be worth the while to look at as everyone seems to want company spec and 3 -5 years old. or a maintaance record on something older. AND, green on fuel.
     
  9. Downwind

    Downwind Bobtail Member

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    I am in a similar position to Jumbo56 in that I am seriously considering buying a truck and trailer and getting into the business as an O/O. I too am having difficulty entering the market because of the lack of recent OTR experience. The only major broker that is willing to work with me is CH Robinson.

    I have spoken with a number of dispatchers at CHR and, they tell me to assume a average rate of $1.10 - $1.20 / mile in my calculations regarding profitability. Using these rates, I am unable to show where anyone could make a living running full time for them. In fact, my research suggests that you would have to average around $1.35 / mile in order to realize a $40,000 / year income. This assumes the use of a tractor/trailer that costs $45,000, is financed for 48 months at 4.8% interestand and, gets 6.5 MPG. All other costs used in my calculations are either actual or very conservative estimates.

    Can anyone out there help a potential new O/O find freight that pays around $1.35 / mile? I am physically located in the Chicagoland area.
     
  10. Jimbo56

    Jimbo56 Light Load Member

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    Looks like Owner Operator my be the only way into the business if you don't have "recent" experience. There's also a few threads on here that discuss brokers that are unwilling to sign you on if your new. I don't understand the owner/authority thing that well and many times when you ask, the experienced drivers here just consider you a "hobby" trucker. Too much deniro to be in this for a hobby.

    I have written a business plan. Thanks Bronc, your example helped more than you'll know. Broken all costs down except the major overhaul in the first year. That one scares me too much to put figures on it. Got a verbal for financing through my credit union, but I think some of the larger dealers are offering better interest rates.

    Just need to set my mind to it, close my eyes, and leap.
     
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