Inquiring minds wanna know. Traditional financing? Cash? Lease Purchase?

How much did you pay for your 1st truck? Would you go about it differently if you had to do it again?

Thanks in advance.

 

G-man tiped me off, that if you have a bit of cash saved up, auctions can be a he$$ of a lot of savings, and he was right.
Obviously lots of risk involved, so wear your jeans and go preparing to get dirty for sure.....they were all dealers there and I felt like a sheep among wolvs, but I was the only one crawling under them to do inspections.
Yeah peps here say its risky ...n cant arque much....but its just as risky dealing with shady truck sales people too IMO.....I was a car mechanic years ago and what those car Fn dealers said in private to mechanics was scary so I would bet the same crude happens withtruck dealers....no personal Exp. there just a hunch.
Ohhh yeah...I payed 19k and a comparable model here in So Cal runs about 35k ...I was pricing some at a dealer before...offered him 30k for a truck priced 39k....n he turned me down...he can keep it for that much difference.

 

I paid cash for my first truck and trailer. I paid $6,500 for it. I knew a guy who dealt in car haulers and we did some trading around. I could haul 10 cars on that rig. You would likely not be able to buy something comparable for the same money today. You could still pay cash.

 

PEPE lives !!!!!

 

I was a company driver for six years and saved the $4,000 down payment on a new 1973 International 4070A. The dealership set up the financing through International Harvester Credit. The tractor sold for $23,600. My monthly payment was: Principal $408.34, and Interest $117.06. I paid it off in 3 years, 6 months; but depreciated it for seven years to take advantage of the investment tax credit in effect at that time. There was no sales tax on trucking equipment in Illinois where I bought the tractor, but when I licensed it in Michigan, I paid Michigan sales tax. Fortunately, I had saved an additional $2,000 for tools, fuel, plates, etc. Then, the company to whom I leased required premium steer tires. A tire dealer took the first-line steer tires in trade.

Nine years and 920,000 miles later, I sold the tractor for $4,950 to a man who owned a convenience store. We met with his banker and he put up his motor home as part of the collateral. That saved me the trouble of selling the tractor at the Chicago auction. The company to whom I was leased laid off all of their single-unit owner-operators. As deregulation began to have an effect, it was not a good time to buy a later model tractor, so I continued with the same outfit as a fleet driver. Years later, I saw my old tractor in Detroit where it was working for a cartage company.

 

How much did you pay for your 1st truck? Would you go about it differently if you had to do it again?

paid $15,250 cash for truck & $9,200 for trailer. a 95' intl cabover in 99' would I do it differently ? not a chance. the success & luck ive had is unbeleivable & a bit rare... story here...


I have wondered how 2 people can be looking at the same thing but each see something totally different ??? now I know why.

when I first saw my 1st & only truck, I saw a low mileage(412,000) very well maintained, & everything worked flawlessly, for 1/2 the price of other trucks with mileage in the 600,000 to 700,00 . I saw success, profit, peace of mind. e.t.c. some other drivers saw... that truck aint cool.. man!! aint got no chrome, no hood, no status!!! yes it's true i dont have status, I dont have a hood or even a cat. but I do have peace of mind. along with a det ser 60 that gets great fuel mileage.

 

did I mention no payments & driving for over 9 years with the same truck? :lol: it's a nice feeling.. especially when I could better prioritize my earnings towards my family & our future. rather than a cool looking truck. there is nothing wrong with wanting a nice truck. you can get one too.. you just have to be realistic about how to get one. like a nice big home.. one day, one day... plan, & trade up maybe o.k. but dont have champagne taste on a beer budget, starting out... as I've stated this before.

 

Heavyhaulers.... Your avatar is pretty, Unmmm, Cool looking :wink:

 

It is much better to save your money and pay cash for your equipment starting out. It takes a lot of pressure off when you don't have to be concerned about making monthly payments.

 

Heavyhaulers.... Your avatar is pretty, Unmmm, Cool looking



this avatar is an imposter... someone else had it first. I just liked it so I adopted it for my own. hope i dont have to pay royalties to anyone on here for copying avatar. :lol: