[Rev.Vassago]

Originally Posted by RostyC

I was hoping you'd show up in this thread and that's an interesting post as well. One thing though, when you bought your truck there was no way to predict this economic downturn. Having said that, when you get it paid off do you plan on keeping it for a while after wards or trading in for a new one? You said you were rethinking it, maybe you could elaborate a little more?

After it's paid off (mid-2010), I plan to give the trucking industry another year or so, and then I'm selling the truck, and getting out of the industry.

Your right that is a decent price on the 389 which is why I was thinking about it. Now that price though is without their program, you have to have a minimum 15K down payment. At nine percent, which is just a figure the salesman used we didn't run a credit check (but I have good credit) and 15K down on a 6 year note the payment was 1800.00.

Do they do 6 year loans through Paccar now? When I got mine, I got financed through Paccar for a 5 year note @ $2153 per month. On a new truck, I would think you'd do a lot better than 9%. Mine is at 7%.

You make another good point too, flatbed freight is extremely turbulent right now. Three weeks ago I couldn't catch my breath then it slowed the following week and last week was a struggle. I would imagine with all the rain around here this week is a little slow as well.

And that's the problem. You almost need a crystal ball in these economic times. The last I heard, some 90% of Paccar's truck loans were at least 1 month behind.

[Rev.Vassago]

Originally Posted by Jackrabbit379

They have 2 359's and 2 White (the brand, not color) GMC's.

Yeah, but what color are they? That's more important.:lol:

[RostyC]

Originally Posted by Rev.Vassago

Do they do 6 year loans through Paccar now? When I got mine, I got financed through Paccar for a 5 year note @ $2153 per month. On a new truck, I would think you'd do a lot better than 9%. Mine is at 7%.

Yeah they must, he quoted me five and six years, now I asked about the six year but I would imagine if they didn't he would have said so. I always stretch payments out as long as I can then pay it down quick, if you run into hard times (like now) you can make minimum payments for a while. (like I'm doing with my p/up truck)

[moe]

In six years the 359 will still be worth what it is today and probably not a lot less than the new one, and you won't get any more per mile or load for having the new one, and you will have to spend a lot more time behind the wheel.

[Silent Runner]

If you looked at the truck specs in the picture, clear at the bottom it said:

**Introducing $15,000 Down Payment Assistance. Take Advantage of the already low Price of $129,500 AND a additional $15,000 down Payment assitance. Lot's of Finance Sourses readily avalible. Call Today,Offer good through March 31st on all qualifying 2008 Models. We'll even Fly You In!
Price includes over 3k in Panelite lites and chrome, call for more details!

So your $114500 is after they pay the $15000 down. You're going to have to pay FET on the $129500, along with any other taxes your state may hit you with. Prop taxes goes off of new price, too, most of the time, so that just went up as well. Don't let them fool you with gimmicks.

Nice looking truck, though!

[b00m]

I think it really comes down to the type of equipment and the owners perseverance on staying on top of things.I had my kw t2000 and had to put so much money into it,small stuff like alternators,belts,steering box,brakes,tires,etc that almost put me out to the side of the road.The previous owner didn't do jack on it and i had to pick up the tabissedoff:issedoff:.Pretty frustrating,but at the same time a lesson learned the hard way.I guess experience can be PRICELESS.

This year,when i planed on rebuilding it(around 10-13k),but instead i decided to sell it(at a loss compared to how much money i put into it) and go with a decent truck that will be paid on about 2-3 years.I was able to sell the old kw on my own,get a decent value on it,compared to what the dealer offered me, and have a decent down payment of about 8k for a 39k truck.By the time i'll be reaching 850-900k miles this new truck(05 VOLVO)will be paid off.As soon that will happen, i will let someone deal with it,since i want to sell it and do the same thing all over again.I came to find out that once you have a truck over a million miles, more things,just about anything will start to come off and have to be replaced. and it's value goes down the drain even more,even with a rebuild engine.

I think unless, you have a baby,something classic,the love of your life,and that you really don't care about the fuel cost and just stay in trucking as a hobby,then you can afford to keep a classic long hood over a million miles and continiously put money into it.

That will happen,when maybe i'll be 60 something,and i'll be tired of my wife and kids,and i'll be staying on the road,hoping from place to place and driving 55mph!!!!.

[lowrange]

Originally Posted by chris1

I've bought new trucks for 30 years,keep them 3 and trade in. I couldn't imagine putting a driver in a 8-10 year old truck. I have never had a problem of letting a truck sit because of having a payment. Never had a problem of freight to cheap or slow either. Maybe because i run a business instead of a bought and paid job.

This is interesting, but the way it sounds to me is that the money isn't in trucking like it used to be. I hear people talk, they used to make a whole lot more. We used to have bustling industries in steel, textiles, automobiles...

Obviously, you incurred some depreciation turning in three year old trucks. But, your drivers had nice equipment, breakdowns were under warranty, perhaps you didn't maximize your profits but maybe you slept a little easier, or were able to keep more trucks on the road.

The question I have is, would this model work going forward? Personally, with major structural changes to the economy, I don't ever expect there to be the money in trucking to play around with like there used to be. I don't think we'll ever see it again (global trade, increased automation, less manufacturing...) Is this just a good one for the history books?

[chris1]

Some of my accounts require new(er) equipment. They do pay a premium for it. (higher rate,fsc,acc's) They also require more "green" equipment. My total maint/rep for tractor and trailer(reefer) fleet average is .051. That is everything that goes on/in the truck except fuel. Right now with the used prices i have to keep the last 3 2007's for 6-8 months longer than i want. They will bring my repair cost up by the end of the year. Tried some older trucks 20 years ago and lost bad due to downtime and driver loss. Never again.

[lowrange]

Originally Posted by chris1

Some of my accounts require new(er) equipment. They do pay a premium for it. (higher rate,fsc,acc's) They also require more "green" equipment. My total maint/rep for tractor and trailer(reefer) fleet average is .051. That is everything that goes on/in the truck except fuel. Right now with the used prices i have to keep the last 3 2007's for 6-8 months longer than i want. They will bring my repair cost up by the end of the year. Tried some older trucks 20 years ago and lost bad due to downtime and driver loss. Never again.

Ok, I appreciate it. I have no idea what it is to hire drivers, but I can imagine. Apparently, you have some confidence in your ability to keep higher priced accounts, perhaps there's a story behind that. Maybe there is a reason you are able to get rates that many others cannot- relationships, location, niche...

With just my one truck, I'm able to pay much closer attention to it than a hired driver would. The truck was getting a company inspection yesterday and I was doing my absolute best to get our mechanics to give me leads on 'managed maintenance' projects I might undertake ( I mean PM, just a little more aggressive about shop repairs before roadside repairs). Anyway, they basically told me to wait until stuff breaks...

One more thing, I think my tractor was a gift from heaven. The reason I say that, I have no skill that would allow me to pick such a low maintenance truck on my own. Whenever I do replace it, I want another 'gift'. I don't have confidence to get the kind and amounts of freight to take on large payments.

[Jackrabbit379]

Originally Posted by Rev.Vassago

Yeah, but what color are they? That's more important.:lol:

:lol:

Dark blue.