Should You Buy a Truck in 2021?

Discussion in 'Ask An Owner Operator' started by SeanQ, Nov 23, 2021.

  1. SeanQ

    SeanQ Bobtail Member

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    What do you guys think?
     
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  3. 86scotty

    86scotty Road Train Member

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  4. aussiejosh

    aussiejosh Road Train Member

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    If things are looking on the up and up for sure, if there not so good then no try and stay out of debt if you can help it, unless your quite well off financially and can afford to pay cash.
     
  5. SeanQ

    SeanQ Bobtail Member

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    That's a great answer. I am homeless right now. I sold my house and am sitting on $450k in the bank, but I live in a motel right now. I have my CDL, so I might make the investment and start riding. I am in California right now, but you know things will stay high until these autonomous trucks come in.
     
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  6. Dino soar

    Dino soar Road Train Member

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    No you should not buy a truck, you means not particularly you it means anyone.

    Right now the prices of trucks are sky-high and the rates are beginning to have fluctuations

    So if whomever buys a truck for an outrageous price and the bottom falls out your screwed. You would be in an industry that you have to work hard for little pay and you will have paid twice as much for truck and trailer than what it is worth as it depreciates and it is worth less and less.

    If you wait until the bottom falls out you'll pay less for truck but you're not going to make money so your screwed.

    So no matter what you do basically you are screwed.
     
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  7. SeanQ

    SeanQ Bobtail Member

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    That is a great answer. You're absolutely right! Lone Mountain Leasing want $32,500 down, $2,995/36 months for 2019 Volvo. Guess what! They leased them all! Miles on the trucks were 500K something. That is insane.
     
  8. aussiejosh

    aussiejosh Road Train Member

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    Yes I did the same thing on my 12 month tour in the USA while driving did briefly consider renting an apartment then thought why? I'll be in the truck all week with a 36 hour layover why pay $250 per week rent plus utilities when I can just live in the truck? My only real expense basically was food.
     
  9. SeanQ

    SeanQ Bobtail Member

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    That's the best way to go. Some trucker rent out their homes. Kind of smart for the hard runners.
     
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  10. aussiejosh

    aussiejosh Road Train Member

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    Also while your away from home you can claim any hotel expenses on your tax return if you chose to spend a night in a hotel with no real limit to what type of hotel you stay in, on one occasion I stayed at a posh hotel ( $300) right on the Hudson river in New Jersey
     
  11. 4wayflashers

    4wayflashers Medium Load Member

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    I’d go looking for a good paying job as a company driver if I were you. They are paying pretty good right now and it will get you out of the motel. Big shots are saying first 2 quarters of 2022 look to have increased demand but wont even guess as to how much of an increase. After that is anyone’s guess.
     
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