Which truck would you take? HELP CANT DECIDE

You guys just don't get it.

He has an interest rate of -52% so his payments on the 40,000 loan are only 400 for 48 months.

His brilliance in finance is obviously beyond our ability to understand.

 

he probably has an apothecary to change lead to gold too.

 

Pardon me as I'm just catching up to this thread, but are you guys disagreeing with him because he want's to borrow the money against the house to buy a truck?? or disagreeing because he wants to be a dry van owner op while expecting to earn top notch money?? slightly confused here....

 

More the "get a mortgage to buy a truck". And then the thought process that the truck isn't going to break down and risk loosing the house.

 

I am against the borrowing money against the families home idea. I also don't see a lot of encouraging signs in the OP's reluctance to listen to any of the experienced guys advice.
I don't care what he wants to haul or what truck he buys as those things are secondary to the fact that borrowing 100% of the money to start as an o/o against a family members house is just plain and simply a bad idea.
But it seems that he is missing the point of the forum as a way to get constructive criticism. I know I have had some posts and threads on here were I haven't allways heard what I wanted to hear but I definatly heard what I NEEDED to hear! And when It comes from experienced guys it's worth listening to!

 

The op might do better with a l/p deal....... Never thought I'd say that.

 

oooooo.... wait, he's planning on putting the whole 40K onto the truck?? He's doesn't got credit?? O my....

 

Ok, Take $5000.00 or $5500.00 and go to a pleace LIKE(admin I hope you don't see this as an advertisement) Lone Mountain Truck Leasing, There you put down the amount mentioned make payments of $1150-1500 a month for 36-42 Months and then you own the truck or you can take it back where you purchased the truck and they will give you almost enough to get back in a truck and then wash with mild soap, as it may burn the effected area upon contact with the soap, Wash and repeat! They will allow you to take the truck to an outside mechanic that will give it a good go over and they will tell you what they think you need to do to it, if it doesn't pass the DOT inspection then take it back to the leasor and again wash and repeat be cautous as the soap.... same as above. I would not avoid the Fine State of Californika with freight as there are a bunch of folks over on the left coast that need what you can bring!, Get what you want to, buying used as used is you get what you pay for. I really hope this helps, I injected a little humor as it got really boring talking about all of this stuff.

 

I have been reading this forum and have to say I considered buying a truck myself. And also I am fresh from business school to driving a truck, don't judge me I just would go about it a different way because at the end of the day you gotta have a home to go back to, it's what matters the most. My honest opinion is don't go balls deep with $40k, it's too risky, the survival rate is low. If you must own a truck, go the lease (I despise this word, but it can be successful) route. Just do whats best for your situation! And think about the big picture and long term. It's not IF, but when it's going to break down and you must be ready. I have not owned a truck but would love the gamble at a later date when I am better established with more than $40k. As a company driver I run my equipment as if it were my own, add up the bills and see what the truck is actually costing. I've seen alot of people fail small business wise in my area, not just in a truck. I believe in goals in a business and a set business plan. Do that research, develop a sound plan, and carry it out!