Some numbers for new O/O

Sorry guys! That was wrong..you know it and I know it...apologies. As for the truck loan payment being what it is..your house doesn’t bring in 20k a month..so of course you’d be able to pay off your truck quicker than your house..

 

yeah but the house payment would be a fraction of what the truck payment would be. The reason you don't get a 30 year loan on a truck is because the second you drive it off the lot it starts to lose value.

 

And my truck is a 2010 and its been payed off for 4 years. But I didn't pay $150,000 I payed $65,000

 

Also a 30 year loan on a 230k truck and trailer loan would be about 800 bucks a month lol..the banks would never make money if they structured it like a home loan.. mine is 230k for 10 years at 7.75 percent which comes to what I posted earlier

 

That’s also with an almost 830 credit score..can’t forget that, it alllll factors in.

 

My house doesn't make me $20,000/month? I paid $320,000 for my house in 2009 Its worth $550,000 now and it will be paid off in less than 4 years from now because instead of spending $250,000 on a piece of equipment that goes down in value I spent less than 1/2 that and all the equipment is paid for and a paid for house almost. I guess I just cant wrap my head around that kind of money in this industry. Just seems like you will always be In debt that way.

 

A newer driver with less knowledge about trucks might be better off with a more expensive truck, with a better, longer warrantee. Experience can have a big impact on repair expenses.

 

Debt free is the road to an early, fun retirement

 

That has absolutely zero to do with experience versus no experience..it has everything to do with when your motor throws a piston or when you see radiator fluid on your dipstick, dependent on the warranty, you’ll be saving yourself about 25k and chances are the respective truck manufacturer will give you a loaner while your turd is getting repaired.

If you want to be a white glover go work for Swift. Just because you are an O/O who has a new truck with a 500k warranty does NOT mean you shouldn’t be carrying belts, hoses and pullies..maybe even a fan clutch if things decide to get real weird.

 

You do not think a trucker who has a lot of experience can better judge when the truck needs service, and be better able to tell when a shop is trying to oversell service?

I am NOT advocating white glove driving for owner ops. I am simply stating the fact that a less experienced driver knows less about truck maintenance. A longer warrantee gives them time to have problems and get them fixed on someone else's dime. And they learn from it.