New O/Os

Hahahaha! That dick told you to say that I'm sure

 

I'll never tell ...lol

 

I would never wish anyone to fail, but I'm thinking there will be a lot of used trucks hitting the market once rates drop and O/O can no longer afford those high payments on their new overpriced trucks. I should have the experience and funds by that time to pick up one of those trucks for a hopefully more reasonable price.

 

Where?

here?

It isn’t the owners who are happy and getting along yoy want to hear about, it is those marginal owners and failed owners that you want to hear about because successful people are not the examples you need to look at to see where you can fail at.

 

5 years ago hell even 3 yrs ago would have been good to get in , I wouldn't start a new trucking venture today . The Price of trucks and equipment doesn't coincide with the rates , we get fed a line of bull on why prices are what they are but in reality the prices should be way higher .

 

Rates are barely what they should be and what they should have been. Usually they’re too low. Used Trucks and Trailers are double what they are historically. It’s a disaster waiting to happen, for anyone buying now. Better have a 2 yr. window for paying off more than half the Equipment. More like at least 70% of the price paid now. Otherwise you’ll be caught upside down, and with a payment double the amount available due to lower rates. Unable to refinance, due to lower appraisals, maintenance expenses rising. One more repo headed to Auction. Sold for 65% of what’s owed. Being sued by the Lender for the difference. Hit with a Judgement. Time to call the Bankruptcy Attorney. About that time the IRS sends you a bill.

 

Banks are not stupid nowadays, they don't give out crazy easy loans for this high priced equipment. You gotta put 40% or more down and if the current rates are staying up for some time, people can save up lots of cash or pay off the equipment

 

For a new O/O buying new equipment how much money would be recommended to have in my business bank account at startup?