with $40k capital, lease or pay cash for truck & trl

black w900, this is to funny, shinny? makes money? i guess mileage has nothing to do with it??? i myself have a problem of busting my butt ..knowing the first 2 weeks pays for the truck

 

I keep my truck shiny and I like the way it looks but the primary reason that I have the kind of truck that I have is because it's a solid truck that's gonna last a long time and cost me less overall than a lesser truck would!

It's tough to make it out here with a $2000 a month truck payment and a trailer payment on top of that!
There are LOTS of shiny 1 and 2 year old repo's out there for sale!

 

It's tough to make it out here with a $2000 a month truck payment and a trailer payment on top of that!
There are LOTS of shiny 1 and 2 year old repo's out there for sale!
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read my mind.

 

Dealers really don't care if you have "cash" or not that's pretty much a myth when you're talking a high dollar item. When you get a loan they get a check from the bank which is same as cash...

IMO, buy a $30 - 50K dollar truck. Put $5 or $10K as the down payment. With a shorter term note you should easily be able to keep your truck payment under a grand a month.

Youll be surprised at how quickly your $40K gets gobbled up once you start paying sales tax, buying tags, 2290, etc. Another $500-$600 a month for insurance if your running 48 state. $300-$500 a day fuel bill. This is assuming you're not getting your own authority that adds a bunch more $$$$ to your bill.

Keep that extra cash in the bank to work the bugs out of your new truck. Rember, once you own it, its yours. You get to pay for every little thing that goes wrong with it.

Co-worker of mine lost his drive axle 2000 miles from home last week. $5500 repair bill on the road. Had to sit and wait for the check to clear before theyd even fix it. Happy thoughts and sad eyes wont fix JACK, but cash will.

What I am saying here is to CYA, have enough in the bank to cover worst case scenario.

 

After writing the novel below I see that you have been a company driver for five years. What do you think about tucking that money back for a bit and driving for an owner operator that does the same thing as you want to do and tell him you will run it like you own it which includes not killing yourself and hauling a bunch of crap. I did mine after about 10 years experience and still wasn't a great driver until I did the local thing with a lot of abusive max weight hauling.

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In 2002 I took over the lease on a 98 KW T6 (they don't deserve the extra 0's) with about 800,000 because I had been driving it two years. Payment was $950 a month. I ran it two years and the balloon payment was $6000 to buy it. They offered to finance that for a year. This was from a used truck dealership that was part owned by a trucking company. With 40k I would go the cheapest route on the equipment like that, get your own authority (even if you lease on somewhere) and pay a truck accounting service to keep track of everything and like the above poster said, keep that money for worst case scenario. I got rid of mine because my bookeeper/codriver left and the repair places on the road worried the crap out of me on some of the repairs. I didn't have enough breathing room to be comfortable with it but in hindsight after getting more experience and driving local maxed out close to 80 all the time and learning what a beating a truck could take and what to expect to fail I should have kept it and did the above with the accountant.

If you have experience as a company driver I would go for it. It would be worth that 40k to do it for two years even if you lost it all which you won't because you won't be strapped to take the cheap crap every time. It was nice to sit for a week if we had to waiting on a decent paying load to come across. We were leased through an agent that hit us coming and going and he told me that all the O/O's (he had at least 30) talked about a minimum rate but we were the only ones that actually held to it. As a team we could run more but if we did a cross country run we would take a day or two off if there was nothing pressing waiting. Trying to prevent burnout. If you have an "in" for something specialized that helps also. We were a team so a couple of times a month we could get something that was expidited. Was so much fun I would do it again the way I described above. Of course when we stopped my co-driver/slavemaster would pull out the list of repairs and things to do that was waiting so it's not all fun and games.

Good Luck!

 

Kansas, this is partially true, but think of it from the dealership's point of view. A guy with cash ready to buy one of thier trucks is gonna save both the salesman and the buyer a TON of time. Plus, they don't have to wait for the check to show up from the bank. As the buyer you should remind them of both of these facts. If there still not willing to work with you then leave with all that cash and go to a dealership (or private owner) that will deal with you.

BTW, see how many times that salesman says "now wait a second" while you're on your way out the door.

 

At the end of the month they do, when they have to pay bills and sales have been slow. Buying a truck is like playing poker.

That is the whole point of not buying a newer truck in the $30 - 50K dollar range, expensive truck parts are....expensive. If yer friend was driving a 7 year old or more truck, he could have swapped out that axle for a used take-out off a salvaged truck for $1.5k instead of having the one he had only "repaired" for $5.5k, not to mention the fact that if your truck is older you keep an eye on things like axle oil levels so you dont bust it up because you think it is new and doesn't need to be checked.

 

Now that is my way of thinking

 

I hear what your saying. I've just had different experiences personally buying with cash. Their eyes get all big, and they start pushing the undercoating bs games.

I like going in with the "empty pockets" look. That way (in my book) they figure theyre doing good just to make the sale.

 

case of the zacklys!!!!!!,,,,which is why i choose the rout i
m takeing.....
less than $12,000 and she just needs to be cleaned up