Putting $$$ into an old truck vs. depreciation on a new one

.gov slave master doesn't like anyone that's not in debt serfdom. The only way this economy stays together is debt. In the past 40 years there has not been a single quarter where GDP has expanded more than debt.

 

Did you miss the "I am going to upgrade to a new truck....." part ?

 

Curious, can you get financing for an extensive overhaul like that? Or will that need to be cash? Of course, depending on the down payment on a new one, that would be a large amount out of pocket, too, but there are probably deals to put less down.

 

WHY.?..Because Bob is a Super Trucker..And my name spelled backwards is still
Beeeee Oooooo Beeeeee BOB...

 

If you can afford to rebuild do it. set it up as fuel efficient as you can. I did not have that option so i bought a completed glider from fitzgeralds.
Sure its nice to have everything new and like new, but the payment and insurance prevent me from sitting at home for 50 days straight like i used to when the road bs starts getting old.

 

insurance on my $114000 glider is 376/month thru ooida. ive got to be a slow poke to save fuel...... but i saved fuel with a paid for truck too when i could.

unless you are a real speed demon and go 70 to 75 all the time a glider with a 12.7 det should get about 8 mpg ave. unless you haul 45k all the time

 

I have an '06 Freightliner with a Series 60 with 1.2 million miles. I financed the overhaul last month rather than dump all of my business savings into it. There's a lien against the truck for it, but at 2.9% interest for two years, it's about $600 total interest, or roughly $25/mo for the financing (if I pay it out over the two full years). This also allowed me to keep a large bankroll for other repairs and not be so strapped for cash for the first few months after the overhaul. Total payment is just under $600/mo and I intend to pay $1100/mo to it and get it cleared up in just over a year. Much cheaper than a new truck payment (regardless of depreciation, you're still paying for it one way or another).

 

What Bank..?