That's an expensive truck payment, especially for such horrible rates. $1.10 per mile including FSC equals about $0.85 per mile plus FSC right now. Of that $1.10, you're going to end up putting $0.45 - $0.50 per mile right back into your fuel tanks. So now you're down to $0.60 per mile. So just to meet your payment obligations, you're going to have to drive 1200 - 1500 miles per week. That's before you have anything to take home. Then you're gonna have to pay for maintenance on this truck. That's going to be another $100 per week or so, so add another 200 miles just to take care of that. So now before you can pay yourself one penny, you've already run 1400 - 1700 miles. So how many miles are you planning on running per week? At 2500 miles per week, you're gonna earn a total of $780 pre-tax, or $0.31 per mile. Assuming you don't have any truck problems. If you only make 2000 miles per week, you're down to earning $480 per week pre tax, or a whopping $0.24 per mile. Plus you have to factor in all your other expenses: cell phone, meals, etc. That money will disappear quickly.
If you're that dead set on getting a truck, why not take advantage of the fact that trucks are cheap and plentiful right now? You can get a truck with those kind of miles on it for between $20,000 and $25,000 right now. With that kind of price, you'd have a truck that would cost you around $600 - $800 PER MONTH.
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