truck payment help pleeeez

Lots of people have a truck payment and are doing well. You just have to find work that will generate enough revenue to cover all your expenses and give you a paycheck. If not, you will be forced to take from the truck to make your paycheck and it's downhill from there.

 

Here's a Good way to look at this........

What can i afford monthly?

A Little friendly knowledgable advice..

lets say your going to average $3,000 in revenue per week (Thats a Good solid Number for guys just starting out without Killing themselves)

Thats $12,000 per Month, My Trick To Successful Business is you CANNOT,I Repeat CANNOT spend More than 25% of your Gross earnings on Monthly Notes.

That Means EVERYTHINHG..House Payments,Food,Bills,Car Payments,Wife Payments,Kids etc etc.(Living expenses) Which better equate to $3,000 or LESS.

Now,Business expenses, Your Truck payment,Maintenance,Diesel Fuel,Taxes,Insurances Can Be a bit overwhelming...


Point is, You MUST pay Yourself,, Etch that in your brain....If You CANNOT pay yourself, You will Break Down 1 day and Ask yourself."What did I Do So wrong,"?

On Top of Retirement savings,Health Insurance, It Gets Very expensive..........

 

keep cash for unexpected expenses, big break downs etc.
i'd rather make payments and keep 40k in the bank in case IT hits the fan

 

Too high a price and note for a 07 Century IMO and way to high for containers.

JMO

 

Unfortunately you have only the word of an individual in whose interest it is to get you to sign his lease. You have to work for someone for at least a year to see if you are in a good contract. You will find out sooner if not. There is no other way. If they have other drivers with similar trucks, payments and expenses who have been around for several years you are on the right track.

 

After doing a little figuring........you are paying far more for the truck than it is worth.

Look at truckpaper.com and price some trucks. You can find an 07 Freightliner much cheaper than that.

Thus you would have a lower payment as well.

 

Find a good owner/operator company that does NOT sell or lease trucks. Then buy the truck that fits what you will be doing.

 

First off, your living expenses shouldn't ever factor into how much you need to make.

$1,425 a month is $45,600 plus your downpayment. Seems awfully pricy for an '07 Freightliner. As for 'pretty good motor'... what's the mileage, what's the repair history, previous owner history?

I have an '06 with 1.3 million on a Series 60 Detroit (overhaul is one year old) with a replaced transmission and front diff. I paid $44,000 (with interest) for it when it was three years old. I couldn't imagine paying more than that today for an '07 (which probably is chock full of emissions crap). Anyways, mileage on an old truck can be spotty. You need to know what it did before you got it. 400k miles on an 07 might sound great, until you realize it was all city miles. 900k all highway running loads of toilet paper and potato chips may have a lot less wear and tear.

As for can yankers, I've talked to a few at the ports. When I hear their numbers... I just can't imagine they make all that much. Not that they can't, but not every container driver is raking in the money. Most are probably living hand to mouth.

 

you can buy 09 pete for the same down and monthly payments. probably have less miles too.

 

Yeh, that's a big high from an 07.