[Brotherman]

Here's my situation, I've been a company driver for about 7 years and always wanted to run my own truck. So finally things are falling into place to where I can buy one. I have work lined up running about <2500 miles a week, mainly all highway miles, the year of the truck is not an issue with the company.

There are a couple older trucks with mechanical engines for sale in my area reasonably priced and look good that are for sale. I can buy one of the older trucks and have it payed off in months or I can buy a 70k truck and pay on it for the next 4-5 years.

So what are your honest opinions?

[enobeenob]

How old is old, and what's wrong with a $45K truck? More doesn't always mean better.

Please elaborate a liitle.

[Bigmon]

If you hustle you might be able to pay off 70k in a few months too. :lol:

Right now trucks are cheap. You don't need to spend 70k.

[Brotherman]

Enobeenob, I just looked at an 84 pete 359. I am not really interested in that one, too much work needs to be done and has been sitting for a few years. I'm looking for a 359, 379exhd, or a w900L preferably a daycab. I need atleast 500hp or more. If I can find what I am looking for around 45k thats fine. Most of the newer trucks I'm interested in are more than 45k.

Bigmon, I need to hangout with you!

[solo379]

Judging by the past similar topics, consensus is gonna be.-"Buy cheaper and older"... :lol:
Personally, i still believe in;-You got what you paid for... :roll:
But it all doesn't really matter! Just buy whatever you will comfortable with! 8)

[anthony1995]

Just out of curiousity, how old is too old with regard to a truck? In the $9K-20K range, there is everything from 1989 model Peterbilts to 2000 model Freightliners.

Also, if someone opted to buy an older truck paid for via cash, would he neccessarily fair better than someone with a payment? Like GMAN has said, they all break down. Just like owning a car, I would absolutely be sick (and broke) if I had an outrageous monthly payment AND repair bills.

Just based on seeing numbers from here, it seems like one could do ok leasing a paid for truck onto one of the larger carriers. Am I being nieve?

Just trying to get my mind around the in's and out's of this trucking industry...if that's possible!

Thanks.

[Brotherman]

I pre-shee-ate the feedback! I'm probably just going to get something between 98-2003. Theres a few nice looking KW's that look presentable in the pics(can't be riding around all ragidy), I'll have to go check them out this weekend.

[BanditsCousin]

2500 miles a week....how much do those 2500 pay....what´s wrong with 2000 mi :wink:

[Brotherman]

Actually it'll be about 2000 miles a week. When I said 2500, I was figuring in if I got a back haul coming home which won't be for a while. :wink:

Originally Posted by BanditsCousin

2500 miles a week....how much do those 2500 pay....what´s wrong with 2000 mi :wink:

[GMAN]

Originally Posted by Brotherman

Enobeenob, I just looked at an 84 pete 359. I am not really interested in that one, too much work needs to be done and has been sitting for a few years. I'm looking for a 359, 379exhd, or a w900L preferably a daycab. I need atleast 500hp or more. If I can find what I am looking for around 45k thats fine. Most of the newer trucks I'm interested in are more than 45k.

Bigmon, I need to hangout with you!

Why do you need 500+ hp? Personally, I will buy an older truck every time. This is not a time to go deeply into debt. The economy is soft and so are freight rates. I know of a 2000 W900 with about 50M miles on an overhaul that can be purchased for less than $35M. Of course, you will spend about 20% more on fuel than with an aerodynamic truck. I also looked at a 2000 379 Peterbilt the other day that could be purchased for $29M. My point is that you don't need to spend $45M or more to find a good truck. I could have bought a 2002 Classic the other day for $32.5M with 556M miles. It is about setting priorities and deciding what is important in your business. I prefer making a profit rather than looking cool. You can buy a less expensive truck with small payments and make more money or buy a more expensive truck and make less profit. ALL trucks break down. It costs a lot of money to repair them, regardless of the age. It is much easier to repair a truck with smaller payments than large ones. If it were me, I would go with a less expensive truck, pay it off and trade up until I had the truck I wanted. It feels a lot better driving around in a truck that doesn't have any payments. You can survive in a slow economy when you have small truck payments. You may not be able to make it in a slow economic downturn when you have big truck payments. One reason rates are so low is due to so many owners having to run to make their big truck payments. In the end they wind up losing their trucks anyway. Don't try to have it all starting out. Buy what you need not what you want. You need a good dependable truck. You want a big hood. There are some good older hoods that can be purchased for a lower price. You will still spend a lot more on fuel. Only 1 mpg can mean thousands of dollars in lost revenue. In the end you will be the one making the payments and buying the fuel. My advise is to buy a truck and not spend more than $500-800/month for your payments. Build equity, learn the business, save your money and trade up. Rather than having a $1,600 or more monthly payment, try making a $500 payment and saving the difference. After a year or two you can buy something better and pay cash or keep the payment at around the same level. If you can't save the difference then you would not have been able to make the larger payments anyway.