Can You Afford A Brand New Truck Unit With Today's Freight Rates?

[@daMillenialTrucker]

Ty for having our backs bro, especially since realistically we are your competitors 💪🙏😭♥️

[@SamMaass-s5h]

You don't have any costs for workman's compensation, unemployment, Social Security, Highway Use Tax, license, or insurance. Plus maintenance.

[@TheChicagoLuxDriver]

a 240k truck and your only getting 2 dollars a mile ? Yikes! You can make the same in a 10k used prius doing Uber X in chicago lmao.

[@HaiPham-yn8fm]

You have to work alot

[@miamiseba1]

On Uber black you can make it

[@jossa942]

But for how long and how consistent

[@TheChicagoLuxDriver]

@@jossa942 if your not a lazy POS then you go where the money is by moving to a large city.

[@markdm4805]

Wow I did Uber x for 3 years full time back when things were good. If you know of an Uber market paying 2 dollars a mile please let me know because I currently actually own a Prius and I'm willing to travel.

[@voodounpriest8705]

Take that 47k down payment and go to the auction. Buy a good engine good trans 2016-2018 repo for 25k put 10k into it. Get your authority and you’ll still have 7 for maintenance and fuel. It would be crazy to finance 184k good or bad times starting out.

[@rickshah9378]

Eh...but then how do ronen get kick back😮

[@justinwestmoreland3020]

Thanks for sharing Ronen I am working as a company driver saving as much as i can for as long as i can till its the right time so i can become a successful business owner.

[@mikescaffo4850]

Wow I can't believe how expensive new trucks I would be scared shitless if I had a 4k truck payment every month and good or bad the bank is going to want that payment this man is absolutely right it's not worth it

[@joshrickards7007]

I bought my 2020 Freightliner Cascadia for $156k out the door financed @ 9% in September of 2019. Absolutely no one can make it at these prices. You must have patience as I can assure you that the prices will come down to earth. They always do. Trucking is cyclical and this down market is far from over.

[@ceasarwright7567]

Cad or USD ?

[@joshrickards7007]

@ceasarwright7567 USD. I bought at Trans Chicago in Gary IN on September of 2019.

[@ceasarwright7567]

@@joshrickards7007 you say prices will come down to earth ... you mean lower still ?

[@whatthetroll9347]

I'm glad I grew up as a trucker with my pops. We work on our own vehicles, can't our own tires, and weld our own. 6 trucks cash paid and motor built by us. Own our trailers and do spot markets since dirt business dropped this year.

[@Shigles]

not anymore a brand new unit in usa is about 186.000$ ( Kenworth with Cummins and ultrashift) just call any dealear ask for what price they are selling brand new trucks and ask 160-170.000 $ and if they can work with you, usually after some negotiation on the phone they can drop till 165.000 $ ...deallers dont have sales at all and many carriers stop orders so they stuck with bunch of inventory...i negociate for a friend now he got brand new kW with daimond package 500 hp Cummins engine and 13 speed ultrashift ...

[@faheemGood.]

I like his videos. 🤓📝He's pretty good 👍🏾 at teaching us beginners the business of Trucking👏🏾

[@nanealdiamond28]

Most lease purchase programs you pay around $1,000 a week for 3 years

[@bailbondsga]

for higher freight rates consider livestock (cattle). it pays very well

[@ne9835]

👀👀👌

[@davidminer84]

NO..... Here's the reason. The advantage is 20-30% fuel savings that makes the payment for you. Except that only works when you drive the hell out of the truck. The long haul rates are terrible now so mid to short haul runs are the best you can get. That creates two problems. 1. Your per mile drivers aren't getting enough miles to pay their bills and they hate it. 2. You discover that the 600-800 dollar savings in fuel per week is irrelevant because you're not really driving that much and now you can't break even with the lease or the loan. The next thing you discover is that full coverage ins in 200 thousand dollars is not like paying full coverage on your 2008 truck valued at 30 thousand dollars. Next you discover that your warranty works great if you didn't have to pay 4k to tow your new truck to the dealership every time it breaks down. Not to mention the weeks it will take just two get the dealer to look at it and you should have just kept driving your old truck because it doesn't just derate and leave you stranded and calling a tow truck. In fact, your old truck dosen't even need to go to the dealer... it can go to the first shop that can look at it and you'll most likely be driving it there. No, buying a new truck is a really bad idea.

[@lafrancelafrance9448]

Spot on! Who doesn't love this guy.

[@mrcrowleyoz]

People think that just because they gross more as an owner operator they make more. Truth is they are only stressed more for the same net gross

[@willarddevoe5893]

The 9.5% interest is a clear sign to not make a truck a part of your business plan.

[@moritaagishta6190]

Don't even think about it !!! With thus high gas prices.!!!

[@superteckmp]

A brand new 2023 Volvo VNL860 truck is nice, but the $4308 in monthly payments (60 months) and the 1300 in insurance increase has killed my budget.

[@davianbrown6058]

Just discovered your content not too long ago and I love it! Big fan

[@peted5205]

I feel like trying to get rid of small companies which make up 80 % of trucking to have mega companies take out government loans for this self driving and electric trucks to replace us small companies..

[@samo8204]

Ronen, would you be willing to share (or, have you already done a video) your specs for the trucks you guys buy?

[@i.am.ghost.]

The rates are going down, not up. There is a 20% freight shortage compared with 2019. But they are 1 million trucks more than 2019. All these extra trucks are either paid off, small payment, refinanced, team drivers like husband and wife and all these can afford very low rates for a while, till others go bankrupt get out of business and have the rates leveling to a point where they can make decent money again. People will struggle to keep up with truck payments and even give up with their house and car payments just to be able to keep the truck, passing the bloodbath and afford again a rent or something. A big problem is that consumers demand is going down too, so that means more less freight over those 20% less compared to 2019. Few reasons for why the rates are going down big. It's going to be a tough year. Husband and wife can afford a 1.5 per mile because all the money stays in the house even with 8k per month, they can pass the bloodbath. Responsible for this situation? Whoever decided to give free money to people during pandemic, DOT for not having transportation properly regulated in a manner to control the people wanting to go in trucking. When a person never ride a bicycle in his country but as soon as the person movto US, pass a test and in 2 hours becomes a "professional truck driver"...the industry will get more stupid regulations, more accidents, low rates, bankruptcies of decent companies who cannot keep up with 3 low paid driving a truck, or "case pending" people going on trial for status change in 7 years but allowed to work in US till a judge decides on their cases... DOT again for not having driverd blood tested for drugs every month, for not having regulation to avoid multiple trucks on a single registration, or drivers without a valid CDL. There is more but nobody cares anyway

[@boatbound3300]

If i win the powerball for over $100 mil, i will buy a new W9😂

[@BigWiLL_973]

WTH 🤦🏻‍♂️

[@michaelwright1602]

Me too, it will make a very cool lawn ornament! Maybe turn the fifth wheel into a fountain? Plant some flowers around it, use it as a porch light with some blue LEDs. ;-)

[@rd5991]

For real. Get all the chrome and bells and whistles. Drive it for fun when I feel like it LOL.

[@adambennett2176]

Thanks!you the man

[@glendanis8605]

In Perfect world maybe at 2900 miles a week but you know that trucking world is not a a perfect time for o/o.Freight rates are just as bad as 10 years ago you’re cost per mile was in the neighbourhood of 1.85 or so pm. My thoughts cheers

[@ronnieallen6986]

There's no way I buy a new truck now at the price they are at the dealership and the high interest rate One bad month on the income can put anyone behind on the truck payment my truck been paid off since December 2014 And I have 25 years experience and last 17 years as a owner operator This is my 3rd truck I ever own If I ever trade in the truck I have on a newer truck it would be around 4 to 5 years old unless the prices comes down If I do upgrade to a newer truck and it be around $80,000 I would hurry up to pay it off and a year or so later upgrade again to a newer one Instead of keeping it long time like the truck I have now I will look for one with a APU on it The one I have now doesn't have one On my next truck if I do ever get a newer one be no more than $80,000 and monthly payments at no more than $1,300 to 1,400 So I can pay it off fast and upgrade to a better one

[@KMPandme]

Was an OO till 2009 recession. It ruined me. Can't believe prices now. I make.78mi now as company driver. No headaches

[@MerakiDispatch]

hello from Uzbekistan!

[@NorthAmerican-Trucking-News]

Hello!

[@gerardobarragan1399]

I appreciate the information. Very helpful. ✅

[@johnoptions9192]

Thanks for the sharing the video. The playing field is not level for companies versus the rest of the operators. This industry is skewed by the regulations put in place. Why should companies be able to pay drivers better than someone operating by themselves? Costs of fuel, tires, other things are born by all.

[@310raiders]

Thank you very much for your expert analysis bro

[@BigWiLL_973]

I’ll buy a couple rental properties.. why buy more work 😅

[@igorarapov3186]

Great content! The only what i would kind of disagree that realistically you can buy brand new truck much cheaper then prices that were shown in the beginning of this video. I saw many trucks on sale for 180-185 range, of course , depend on package and modification but probably most expensive that is advertised 205-208 volvo 860 but with apu

[@bertriedstra4]

He might be talking Canadian dollars

[@yrm1297]

Iam kind of cofused, how many loads for 2950 miles loaded, what about the empty miles, how many loads? How many of the 70 hrs used ?

[@wendellmitchell9177]

I just like the freedom

[@Affordableframe]

Why don’t you consider a husband and wife team. The same costs for double the miles

[@Traveler1214]

What about the future of dispatching industry? Will rates per mile go high in future? Is it suffering from post COVID-19 effects?

[@mattyp3860]

I just bought 2024 Kenworth W900 255,000$ I put 75,000$ down Payments 3700$ month 5 years Heres ball kicker 11.99 interest. Lowest i could get. I love my truck need reliability 😎💪👍🔨⬇️

[@SarcasticLittlePrick]

Congrats 👏 👏

[@mattyp3860]

@@SarcasticLittlePrick Thank you Hope i don’t go broke with purchase

[@dmitrydk92]

I bought mine for 300k, my payments are 6k 😮

[@WestCoastTruckingCEO]

You guys are out here literally crying about rates and how expensive fuel is yet you're literally doing everything possible to lose money. Not only are you paying 15-20% more just for a long hood but ON TOP of that you'll be throwing money away everyday with the extra fuel you consume. Sooo much money just being wasted and you're out here in shock that you're not making money. Or blaming it on someone else lol

[@mattyp3860]

@@WestCoastTruckingCEO I du heavy haul. My rates go up if fuel goes up. I making $$$ regardless the fuel prices. Heavy haul your not going to save fuel with Cascadia crapliner. I keep my long hood 😎💪👍🔨⬇️

[@kevinsulivan5717]

Where is your regular maintenance included blown up tore , oil changes , tools , eld fee, physical damage ins , ifta , ucr , parking , etc ….

[@joeysok2366]

I filled out the form but nobody call me back I end up to accept 11.5% with 50k down payment. After I get a new truck 2 week later I lose customer load.

[@jasonvanoss2217]

I'm wondering how you recommend becoming a owner operator right now I currently run local dry van flatbed and have a part time job on weekends hual food grade tanker and want to explore becoming a owner operator but don't want to take on a huge truck payment I can't afford

[@able_trucking780]

My truck and trailer are paid off and im barely getting by

[@keithmorgan4883]

You gotta be living above your means

[@able_trucking780]

@@keithmorgan4883 i only work 4 days a week local

[@jimmyconway6080]

Doing Uber makes more net with a fraction of the investment

[@alaskahaul2085]

You buy a new truck when rates hit 2.25 a mile then rates go back to 2.05 a mile.. 😂

[@michaelwright1602]

And fuel is back to $5

[@fljetgator1833]

ONLY if you have your own authority and CHARGE a rate that PAYS!! The average truck costs approximately $1.30 a mile just to move Most guys are losing their ass and literally paying to drive when they're receiving only $2.

[@MBDronePhoto]

How would it be if you retired from another career and paid cash? Essentially buying a job. Also did those figures include building a maintenance account?

[@angelcanadian]

This is just my opinion, but I would wait until next year due to I have a feeling that the national rate will get lower. Remember, winter season comes soon.

[@miamiseba1]

Same here. I’m a flatbedder but I’m pretty sure that rates will go below $1.50 with fuel rate above $6

[@evanchisamorejohnston5819]

This doesn’t account for tax write offs tho I’d like to see that included

[@randyjohnson5426]

Ok...i go buy a new truck...and i tell the brokers that i haul for 2.50 per mile minimum...no problem right?

[@Hailua563]

Thank you

[@benrothberg6799]

Don't forget, you also need to reinvest for either another future truck or an expensive overhaul on the current one. Definitely not worth it. $2.64 per mile average is when it's worth it. Trucks, fuel, parts, labor, insurance all keep rising but rates either keep falling or don't rise above 2018 rates. Not a good outlook. Hopefully rates improve because if not we will all work for one of three giant companies... and I'm not just implying truckers! Consolidation is the death of capitalism. Just look at the trends over many years and ask yourself if the middle class is growing or shrinking. When the majority need to rely on credit cards, we are all in trouble... even visa, Mastercard and American express.

[@zelalemmekuria4349]

Hi Is this Canadian dollar or us? And is this including tax or just interest and principal? Please let me know thanks

[@salkyarthurs6520]

Glad I bought mine cash 💸 😂

[@michaelwright1602]

I parked my truck, and it is free and clear. Driving a company truck hauling someone else's freight.

[@ceasarwright7567]

Are his values in CAD or USD ? Price of truck ? Average rate per mile ?

[@Frank1776.]

45k down?, get you a freightliner Columbia or classic with cat or Detroit and you will be good to go without headache, when is a good time to get a new truck? The answer is never because you will get same rate and oldies won't brakes that much

[@Parasefvirte]

Man how is possible to run 2900 mile per week? Loads have a delivery time so it won’t matter you get there soon, the load schedule will not allow you to run many miles, also the average rate is not reflected on the load board with brokers not paying enough to run the business

[@manimalworks7424]

You work 12 hours a day, 7 days a week

[@Cp-jv6mf]

It’s not even worth it running at $2.50 a mile you need minimum $3.00 a mile or more

[@xiong0746]

McDonald’s pay more, you’re home every day..

[@hygiverse]

Do you do consulting?

[@bigdogbulldog9912]

30 years ago I paid 105 for a new volvo and was making 2 bucks a mile 😳

[@Saidoromo2024]

You cannot put price on freedom 😅

[@NorthAmerican-Trucking-News]

Truer words have never been commented

[@hellpoint19]

I have a question ❓ really need your advice

[@nickaltvater5592]

I only paid $162,000 for my new IH

[@dutchhenery5079]

I have no clue why people take stock in these Social Media people....

[@michaelwright1602]

These new trucks are total and complete JUNK! Been driving some 2022 and 2021's... Volvo, International and KW. The KW and Volvos have lost so much quality in regards to build. The International, I never thought I would say this, are built better and hold up better than the PACCAR and Volvo. You could not give me any of these trucks, and I darn sure would not purchase one. Plastic, buggy and the automatic transmissions, JUNK. The PACCAR and Volvo all seem to leak through the windshield and take out the electronics. The automatic transmissions, these trucks are all spec'd virtually the same, Cummins/Eaton 12 speeds. International has the transmissions under control, smoothest of the bunch, and you can actually back them up without ripping into ultra high gear. and shearing the pin off the trailer. Just kidding, but it is bad. Longevity, all of the PACCAR and Volvo's are having transmission issues at 250,000+ miles. Dozen of each, all of them have transmission codes popping all over the place. I have yet to find an International with transmission issues. No clue why. Don't do it guys, do not do it. Ronen is speaking truth.

[@ToddTamm-i1y]

Not worth it dang I'm making more as company driver and I don't have the headaches

[@HaiPham-yn8fm]

You're wrong 2950 miles à week you have to ad empty miles in and no pays for empty miles

[@jocker105]

Trucking is done soon or later you have to burn your ass out to make and home out for days

[@Prachka1]

Why would a driver get a unit? It is more financially feasible to be a company driver. There are companies that pay over $40 PH with overtime after 40H while being home daily. one has to be an idiot to be an owner operator and clear less than $175k annually as an o/o unless home at least 2 weeks out of a month on top of the stated income.

[@InvestorSpeed]

link to calculator?

[@Beksization]

Only a fool would finance a brand new truck in this current situation. Here in the UK the price of used trucks are rock bottom because so many companies are stopping trading so the market is flooded with great used equipment.

[@jennyvistochannelyoutube6726]

hello sir good day i asking can you help me to im not looking truck driver im looking for as caregiver if you had friends looking caregiver erdderly or special person or caregiver family from Philippines

[@richuncle9689]

It's absolute lunacy. This isn't sustainable. What has happened to the US

[@josephescamilla562]

That’s crazy

[@brucebrown5464]

I am seeing 150 a mile to 2.00 a mile this is the brokers fault

[@chaffysteam4128]

Hey how good are the rates for the jobs that require endorsements, such has tankers, double/Triples, Hazardous..?

[@inkognitou6982]

Well, they are relatively good, but there's a slow down. There's not much work right now. At least in the chemical sector.

[@peted5205]

I work at clarinet we haven’t been this slow in over 30 years.we receive about 6 tankers a week.we normally receive 12 a day..worldwide chemical company that makes everything that goes in to everything..been slow like this for a year now.

[@donmunro144]

If I can afford it is irrelevant. I cannot justify a new one.

[@fields1336]

Good thing it no Insurance needed 😂

[@joelperez9308]

Can't even afford a hotshot pick up truck

[@tomwoods3437]

I dont know how any new units are moving at these prices.

[@daMillenialTrucker]

I just bought one and I'm doing just fine. I haul mercury though, super heavy stuff.

[@elcastorgrande]

Hope springs eternal. People hope that everything will be OK.

[@sidiqmusseable]

What about buying use truck which year I should buy thank you

[@dmitrydk92]

Never buy a used emission truck 🫣

[@danielgkorecki]

Glider

[@dmitrydk92]

@@danielgkorecki gliders are illegal

[@danielgkorecki]

@@dmitrydk92 in California or through US

[@danielgkorecki]

@@dmitrydk92 Fitzgerald is still making them they have 2024's on their web page.

[@royalcrowntowing2464]

Simple answer NO

[@Durahan82]

I prefer older trucks

[@ismaelm2041]

the average rate don't mean anything for brokers, they are paying below market average. and nothing is realistic with this freight rates broker making more than truckers and don't have any trucks to pay or expenses and if they want don't pay you the load and nothing you can do about it.

[@generoland5032]

You might as well buy a house🙄

[@stevebaker8966]

No way wait

[@jibril2473]

Short answer: No.

[@TheLongjvang]

It's not worth it. You will bankrupt

[@dagboynumberone]

$DUBX

[@firstfreightlines750]

No offense but.... $600 is not worth the headache!!!!

[@392nightrunner]

Not worth it now with diesel being banned in 2035

[@ac-ir9gs]

If diesel is banned I'll send you $100,000. I have it and am serious. Save this message.

[@agoogleuser4925]

Are your numbers based on US or canadian dollars?

[@a007x3]

Your numbers are way off I hope you are stating in Canadian dollars I just bought a brand new kenworth T680 for 180k with financing.

[@dmitrydk92]

This is in canadian $

[@gregorylyon1004]

Yeah. He's crazy. 200 thousand tops

[@truckerboss84]

I'm not sure where your getting those prices from but your way off I just talked to my friend who sells them its going for around 185,000

[@taspats8701]

A you faken kidding?its a suicide to buy a new truck on todays market rates

[@joenguyen8270]

Ronan always leave out other really important expenses. He only focus on the new truck which in reality doesn't happen at all. All his financial advice are a disaster in the making if you actually listen to this guy.

[@NorthAmerican-Trucking-News]

Feel free to fill in by commenting what additional details to consider!

[@dasqueege7903]

Good job explaining this..I’m retired..30 yrs..things haven’t changed I see …🫤