Think B4 You Jump

I thought it was a valid question....

OPTIMUS PRIME...It's nice to see that there are a few youngsters out there that actually use their brain for thinking.

When you do get a truck, Keep paying attention and you'll do OK.

 

Excellent, excellent post. You have figured out the most important lesson to be learned. $5K in the bank does not an owner operator make.

More food for thought. I just paid personal property tax on my truck, which was about $1400. (You'll get to pay sales tax after you buy that new truck, and again when you buy the trailer!) In another month or so I get to pay another $2000 for truck tags. Truck insurance, cargo insurance, and my personal favorite Workman's Comp insurance on myself. Man, oh man that list goes on and on and on. Did I mention fuel at about $300 - $400 a day, every day!

Just don't give up, do the work, make the sacrifice and put the money in the bank. You'll get there eventually, and you'll have done it correctly. Good Lord willing, and with a little luck your truck/trailer will survive long enough to bring home a few months pay so you'll be above water when the first major repair bill comes a long, and it WILL come a long.

If your trailer deal with your buddy don't work out. Consider renting instead of buying. You'll be paying considerably more for rent, but itll help tame the cash flow beast, and no sales tax when renting. You could also consider financing the truck with a healthy down payment. There is always at least one company out there willing to take a risk if you can offer them instant equity with a big enough down payment. This would also help you acquire a little bit newer of a truck to start out with.

More... Fuel will cost you $300 or $400 a day for each day you run down the road. Buying a $30K truck, with a $10K down payment. Youll end up with 36-48 months worth of truck payments, and that payment will be around $800-$900 a month approximately. Think about it, that truck payment really only equates to about 2 or 3 days worth of fuel usage. Not a real big expense when you consider all factors.

 

i guess i have to spell it out for you: if you read my previous post right, you should know that you do not run an engine without oil & coolant. all i said was if he didn't want to do that, he could run the truck for 15 mins. to keep it from freezing up in the winter time.

 

A guy on here (un-named) got a 'newer' rig (2007 or so) and within the 1st 90 days or so, had a problem that cost more than $3k out of pocket.

So purchasing something 'newer' isn't always a safe bet. But I think buying a used Wal Mart truck might be a decent gamble.
Their drivers appear to take care of company equipment better than others...

Don't forget plates and insurance though, even if she is just gonna sit for a year - if you plan on driving it off your property that is..
and if your state requires proof of a paid IRS 2290 before issuing plates and your yearly UCR fee.
I guess unless you plan on parking a rig somewhere and just looking at it, there will still be some additional costs that need to be considered..

 

when my wife's uncle bought a bran-new mack 300+ in '83, he got as far as greenville, S. C. before the engine blew. so you never know what you are getting. just luck of the draw i guess.

 

Thats the exact thing that has prevented me from upgrading to a newer truck for the moment. Ive been looking at trucks in the $60 - $70K range, and it turns my stomach thinking that Ill have to pay close to another $5K+ in sales tax. That thought really took the wind out of my sales. So, ill wait till I can do it the right way...

Fortunately, tagging trailers (at least around here) are way less expensive.

 

I don't know if Kansas does something funny, but I don't think you should be paying sales tax, you're in interstate commerce. You should be able to use your MC# as a tax exempt #. Might be worth checking into.

 

[QUOTE=" OPTIMUS PRIME ";1701465]You were right about the fall prices dropping compared to the spring. But as I mentioned in the response above, I would like to let momma get use to truck before we hit the road. Plus it will give her a little more driving experience too.
[/QUOTE]

Sounds good to me. I really think your plan is a good one, I'm just trying nitpicking on the particulars.

Good deal. I'm really curious as to the whole story, that would be incredible if it's everything you think it is. Really, no matter what it is, if it's in good repair and comes with all that equipment, it's a deal at $7500, even if it's an all steel trailer and/or a 48'.