Well, here is my question. i have an O/O that is 68 years old wanting to get out of the business. He has a 2000 W900 with 900K miles on the truck and a new 600 Cummins with 90K miles on the motor. He has a 2006 step deck curtainside trailer. He wants $55,000 for both or he is willing to take payments of $1166.00 a month for 60 months which is 4.95% interest. Not sure if the truck and trailer are worth the money and if so which is the better way to go.
Thinking of buying a truck
Discussion in 'Ask An Owner Operator' started by Smurf5485, Mar 13, 2011.
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There is no way I would take that offer. I don't know how much knowledge you have about the trucking industry. when I first thought about getting my own truck/trailer, I did not know a lot. asked a lot of questions & had a 25 year trucker/neighbor who held my hand thru the beginning. I bought a $15.000 truck. I did not know how it would work out & if it did not work out, well then I would not have that much money tied up & could probably get my money back rather quick if it was not for me, & if it did work out, I could always trade up later. a 600 cummins will get you down the highway & keep you in top gear on the hills, but it will cost you in m.p.g. and that could make a huge difference in take home pay. A truck with that many miles, has a lot to go wrong right at this time. new engine? fine. what about everything else? trans. rears, brakes,fuel lines,brake lines, there is just so much little stuff that can put you on the side of the road, waiting for a tow truck, or service truck that can cost you plenty.I am not trying to discourage you from buying a truck. I would encourage YOU to buy a less expensive truck. my guess is the looks of the w 900 has captivated you. good luck. Oh' by the way. I started out with a 95' intl coe for $1500.00 & a 94' flat bed. still have both, still trucking. over 11 years now. still have what I started out with. now THAT, i.m.o. is/was a bargain. take your time deciding. do not ever go on looks alone. best of luck.
Last edited: Mar 13, 2011
outerspacehillbilly Thanks this. -
Will you be able to get the freight to keep you going with that rig?
You'll have to figure out what your costs per mile would be to run that rig. With only 90K miles on the engine, the wrapper is barely off that thing, so as long as it is maintained properly, you won't have as much to worry about with the engine for awhile.
What other repairs/replacements have been made to the truck? Will you have the funds to set up something of a maintenance/repair account to start off with?
You have more to think about, but if you can get the freight to meet your costs and make a profit, I don't see a reason not to buy it. Ask the guy a lot of questions about the truck and trailer. Do your math to make sure you can make it work. -
Thanks for the replies. I have talked to him and here is the rest of the story.
He is willing to put $15,000 in a maintenance fund for the first year. If the problem is minor I pay for it and it goes on top of the price of the truck. All major problems I pays for out of that account and do not pay back.
The truck is getting 6.7 mpg. I looked at his last 3 years of paperwork and he has made between 1.75 and 2.10 for all miles. I would leave it with the same company.
I have been driving for 13 years OTR and just looking # the opportunity and wondering if this is the right one.
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While 55k sounds like a lot as an entry level O/O--the payment isn't bad and the rate is good also--If this gentleman is what he is saying he is--this may actually be a pretty good bet--especially if he has some good freight and is willing to help you--the mileage on the truck would not bother me one bit especially with the newly done motor--big difference between a million mile fleet or 4x used truck and an O/O truck that has had ONE set of hands on the wheel--The big factor here--INHO--is this gentleman is 68 and has had enough--not someone going broke trying to get out from under--the payment plan interest and breakdown escrow he is offering--makes it very enticing--maybe a good way to get started without getting too beat up--I would tread lightly--defiantley get it all on paper--legally etc.(I know I hate lawyers too but in this case....just a thought?)
Just my $.02outerspacehillbilly and Lilbit Thank this. -
I Would have him define minor and major! Sometimes minor will keep you in debt more than major. I have a 06 intl , bought truck for 23k, i did get a 2 yr warranty on engine and injectors, and a 1yr warranty on turbo. So, far i have spent 7k, for things warrany didnt cover. obtw i bought truck with 455k mi, in aug of 2010.
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