What's the best way to acquire your first truck?

Discussion in 'Lease Purchase Trucking Forum' started by 8-j, Mar 10, 2013.

  1. hawkjr

    hawkjr Road Train Member

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    My Sentiments exactly
     
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  3. 8-j

    8-j Light Load Member

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    That's another problem. My employer's trucks are an awful blue. It's a crime against fashion.

    But also I'm starting to see everyone's point, sadly. I make guaranteed money driving 3k miles a week at 33 cpm. If I can actually handle the pace, I might pull down 50k this year.

    If I somehow manage to save my money, maybe then I could put in a down payment and actually own instead of lease, which would be a lot better. On the other hand, I figure if I lease I would be building my credit and then I'd get a better deal when I go on to try to get a loan to buy a truck. Hard choices....
     
  4. WitchingHour

    WitchingHour Road Train Member

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    So? Do the trucks run? Are they kept roadworthy? Do you get miles?
    I don't care if a truck is pink with Strawberry Shortcake logos on it... especiallyif I'm not paying for it, and the above needs are met, that's all someone really needs. "Fashion" takes a very distant second to all of that.
    As an owner, you'd need to think with a similar mindset. A reliable truck in an ugly color is infinitely better than a flashy truck with a problematic drivetrain (e.g., Volvos with the D16 engine). So, ask yourself this... when you're at the dealer's lot, about to pick out a truck which you're going to depend on for your livelihood, what are the factors that'll influence your decision? Because if color and "fashion" takes a higher priority over the important things, you should probably put the brakes on and revisit your goals when you have the experience and mindset to make more careful and well thought-out decisions.

    You make an excellent point here. It seems to be an admission that, right now, you're not certain if you can handle the pace. And this isn't to say that you can't - you just haven't had the time to find out on your own how you handle it. Now, think about how important this is going to be when you're financially responsible for that truck. Handling the pace is what puts money in your account to make those truck payments, to put money in your maintenance escrow account, to put fuel in your tanks, to put food in your stomach, etc. So, would it not seem important to figure out how you handle the pace before you commit to buying or even leasing a truck?

    Another excellent point! I would recommend that you also weigh in on how certain you are in regards to your money management skills. How do you budget yourself? What are your spending habits on the road? Are you prone to making impulse purchases? Most people in such a habit aren't simply going to shake it off with a snap of their fingers, and generally have to train themselves to be better about it.

    Honestly, I think I'm going to have to swim against the tide here. And I do this because it seems as if you're hell bent on committing to a truck financially, and, while I do think you're not oblivious to the fair warning you're being given, I don't think you're having a change of heart about it. If you're so absolutely hell-bent on going this route with as little experience and understanding of how you'll handle this profession as you have, I'd say go with the lease. I know it's not a popular recommendation, but, in your case, it does leave you an out if things don't work out, and I think that's going to be particularly important for you. You can opt out of a lease. If you buy a truck outright and go bust financially, your options are a bit more limited in that regard... either you can try selling the truck, and owe the remaining balance to the lien holder, or the repo man cometh, the truck gets auctioned, and you end up owing the remaining balance after the (typically wholesale) auction to the lien holder at the end of it.
     
  5. ironpony

    ironpony Road Train Member

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    At least it's not puke orange!
     
  6. trees

    trees Road Train Member

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    That's some really good advice.....
     
  7. irfury58

    irfury58 Bobtail Member

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    seriously? cause its what i've been trying lol
     
  8. rocket223

    rocket223 Bobtail Member

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    8-j I would finish your year out and find a company that pays better than .33cpm. I feel ya on the O/O thing. I would love to roll into the KW dealer and drop my savings on a W9, and some day I will. I love trucks, I started driving in '91. Drove 4 years in a cabover freightshaker at .25cpm for a great company. Put my wife thru college. I worked in construction and eventually started my own company. The housing crisis forced me out after 12 years. So I went back to the only other thing I knew, driving trucks. I will be the first to admit I don't know everything, but I'm smarter than some. I know I can handle whatever the job throws at me. I know I could go buy that truck I want today, and I know I am not ready yet. Maybe you are, maybe not. I think what everyone is trying to say is the odds are not in your favor. If you read the hundreds of threads on here from o/o and l/p drivers it will tell you what to expect. You can probably count the successful l/p drivers that actually complete a lease on one hand. Talk to OOIDA, they have lawsuits against several l/p company's. When I see a new driver with less than a year in, talking about buying or leasing a truck. I say think back when you were 16 and thought you knew everything(didn't we all). Hopefully you realize you didn't now squat then, and wouldn't listen to anybody. It's the same in trucking. You don't even know what you don't know. It can only come from experience. I am sure you have had some bad days but you haven't had your worst day yet. Don't set yourself up for failure. If you really want this then do yourself a big favor and do it right. Give it another year or two, get your ducks in a row. just my 2 cents.
     
    Zangief and WitchingHour Thank this.
  9. 8-j

    8-j Light Load Member

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    I had a pretty crumby day today. My trailer's brakes did something weird and balded down one of the tires pretty bad. All the other 7 also looked like they'd lost some tread. Don't know what I did or if it was even my fault. It's possible the red brake (I always call them by their color) popped out and I didn't notice. Or maybe the yellow brake line was leaking and sending air to the trailer brakes even while the brake wasn't being applied.

    I don't know. I don't know if the shop will decide it was my fault and ding my CSA score over it by calling it an accident, or just fix it and not worry about it. Maybe the brakes were genuinely defective?

    What I do know is I'd be in a very different situation if I were an O/O.

    On the bad side, if I were O/O, those would likely be my tires. 8 new tires is about 3,000 bucks last time I checked.

    On the good side, if I were O/O, nothing would be going on my CSA score. If it should turn out to be my fault (like not noticing if the red brake popped out while moving... I didn't notice if it did or not), all I have to make sure and do is not file an insurance claim and my record remains clean.
     
  10. WitchingHour

    WitchingHour Road Train Member

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    Circumstances? Hard braking? Could you not feel something out of the ordinary as you were going down the road? Did you inspect your brakes when you did your pretrip in the morning? If you looked at the brakes, would you even know what you were looking at?

    If your trailer supply valve pops out, it cuts emergency air to your trailer, and the spring brakes on your trailer engage. If this had happened, there's no way you would not have noticed it. Even if you did fail to notice it, your post now would be about your trailer catching on fire rather than a tire developing a flat spot. You really need to understand how these systems work before you become an O/O....

    Negative. Doesn't work that way. A leak in the brake control valve will not engage your brakes - those are actuated by pressure applied to the treadle valve (a.k.a, foot valve, a.k.a., the brake pedal).

    I don't think you understand how this works, either. The shop can't touch your CSA score - that takes a law enforcement agency.

    Possibly, but I have a feeling otherwise. The mechanics will draw their own conclusions, based on what they see.

    Yes... the cost of this would be coming directly out of your pocket.

    What was the tread depth of those tires? Are there any gouges in the tires? Do you even know what to look for when inspecting tires? And don't forget about brake components. Next time you're near a Fleet Pride or other truck parts supplier (such as a dealership), inquire with their parts counter about prices for brake components. I don't know if yours are damaged or not - I'd have to see for myself. But those will have to be replaced regularly. Do you know how thick your brake shoes can get before they must be replaced? If you owned a truck, you'd certainly need to..

    Nothing will be going on your CSA score now. Your DAC report, perhaps. Again, your company can't assess CSA points against you. And if you were an O/O leased on with another carrier, it would be more the same.

    Again, your lack of understanding of how these things work only highlights more reasons why we're saying you're nowhere near ready to be an owner/operator.
    And, once more, trust me... if your trailer supply valve lever had popped out, you would know at least that something was asunder, even if you weren't able to readily identify exactly what it was right away.
     
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