Taking the plunge. My journey as an O/O.

I'd feel like sitting on a needle with that little cash on hand, unless your maintenance account can be liquidated into cash instantly at your will. Last week, I paid a road service guy $1250 to fix the carrier bearing at a rest area. I was lucky he was willing to work out in the cold. Otherwise, it would have cost me a towing - another $1000. The available credit is only available until it is not. I'd rather have some more cash reserves at the expense of having some debt...but that's not a long term solution either. Having the debt is not good at all, but I'd rather manage that and have more cash in the bank.

 

I’d have to run it and keep making payments, along with paying a little extra on principle and credit cards.keeping the $18k as a safety net.when all is paid, or close to it, think about selling or trading.Unless you just want out, then it would be as soon as financially possible. Trans and rears should be fine. They can last a long time, just have to change the oil around 750k, sooner if it looks bad. Nows your chance to make some money. I’m basically in the same boat with my old Truck. Not really worried about it. Beats having a $50- $80k debt for equipment. Good solid Truck, worth more than you owe. New engine. Don’t assume another mechanical disaster. Just normal maintenance. Trans or a rear goes bad. Worst case $5000 repair. You’ve got maintenance fund covered. Should be relaxed and confident at this point. Turn key.

 

Rear ends are $2k each plus $500 labor, tranny is under $4k plus $1k labor and maybe another $1k for a new clutch again. These things can last over 1.5mil miles, don't worry about them.
IMO this truck gonna make you money now for the next five years.

 

If I would lease on another o/o, I would totally work with someone like you with a rebuilt truck vs someone else who just bought an used truck with no engine history.
Seriously, I don't see a reason to sell or get a new one at this point

 

I hate credit cards and debt too but I would only feel comfortable with having enough reserves first. Maybe his maintenance account is like that...accessible at any time that the truck needs to be worked on.
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I’m guessing the maintenance account is easily available. Last time I checked in, he was down to 10k. In just a little time, he’s up to 18k. That’s great. On the right track, I’d say.