Trying to learn

What's your reasoning for not running an older truck that's been throughly gone through? This would lower the payments (why not save up and pay cash?) and give you more wiggle room should the unexpected happen.

 

So with enough money to buy a truck and a healthy emergency fund, why are you looking to pick up a $1200/month loan and pay all that unnecessary interest?

 

$1.03 plus fuel surcharge for loaded and empty miles is pretty normal for companies paying straight mileage.I know several guys leased to carriers on that system that do good.It just depends on how many miles you get $1200 payment is not bad depending on truck.

 

Work hard, be smart, mind your pennies and the dollars will take care of themselves. With a little luck you'll be fine. Just pick the right truck. That'll make you or break you. Landstar is ok from what I hear. (Second hand) but they will throw ya to the wolves. So you best be a smart business owner!

 

I really feel starting out as a new truck owner it's best to start out on a mileage pay system where there paying all miles loaded and empty on a practical mileage scale.Every month do a profit and loss statement learn what it cost you to operate before going somewhere like landstar that's paying on presentage you should be a little more seasoned before trying that you can really lose money fast making mistakes working on %s where there giving you control of what you choose to do

 

My fault for not being clear or maybe I'm just thick and don't understand but if;
1) You have enough money as you stated to buy a truck
2) You have enough money for a healthy emergency fund

Then why are you borrowing money?

While I'm relatively inexperienced in the O/O side, I know business plans, markets, and running numbers inside and out. To start off with a high overhead (new truck) and healthy interest payments, when you've already stated you have the cash layout to avoid those interest payments, is a strange decision.

If it's too personal, feel free to tell me to kick rocks but how much is the truck you're looking to purchase? How much do you have saved up? Do you have an emergency fund? I'm happy to run the numbers and give you different projections, break even points, etc...just for the mental exercise.

 

Well paying cash for business equipment you seem to be stuck on as a business man you say you know about is not always a good plan.there are many examples how financing Now could make more money then waiting to save enough cash could cost you more then the intrest payments your making. And Do you put all your cash into one investment most investors will tell you that is a terrible ideal.Your stuck on intrest payments that is part of doing business.Yes you should try to shop for best rates.I know Dave Ramsey's advice is good but your talking about a millionaire telling working people to pay cash for everything.If I had $40,000 to drop on a truck don't think I would do it unless I had another $100,000 in the bank.Now you have to make good decisions and not over existent your finaces. Don't over buy from my experience a good truck with a $1200 payment is very doable.When you start getting over $ 1800 on a truck it starts getting tougher.