There's Never a Right Time to Buy

buying a truck takes planning and thought and a lot of discernment. sometimes overthinking it is the worst thing you can do
Music: Night out
Musician: LiQWYD
Music: Outside
Musician: @iksonmusic
Luke 14:28-30
For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’

[@nafakaboy]

No one ever explained it better than you and no one ever will. 👍

[@J_Leatherman]

Great vid Dave!! Happy New Year!!

[@GHarris218]

Thank you for taking the time to do this. I really hope this helps some people be successful in the trucking business.

[@Cinchy2017]

Good info people need to lease on somewhere like your at where they help you with your tags and permits for their first time it makes it easier for them.Instead of going head first into an authority.

[@truckerdaveandred6731]

I know guys that have jumped into it right off the bat with her own authority and all that and it was a little struggle but they pulled through. This is where mentorship is important. I didn't have any of that so I decided to crawl before I walked

[@mitsnevets]

i got with an accounting firm 17 yrs ago that design my business plan and do all my electronic filings etc and they send me a packet each qtr that has who to write the checks to and what to write in the memo area on the check they had me get incorporated right off the bat when i started with them

[@truckerdaveandred6731]

That's because it's easier for the accounting service to keep your business and your home stuff separate. At the end of the day with a single truck outfit it makes zero difference and doubles your paperwork. They can probably also charge you more because they're doing two different sets of taxes.

[@Shaq12007]

Dave you are awesome great video good knowledge

[@mitsnevets]

leasing to the company you pull for affectively turns them into your factoring service as they supply the servics you would otherwise need to hire anyway

[@truckerdaveandred6731]

I never had a problem with that part, I had a problem with leasing a truck from the people you work for. They control 98% of your business like you were a company driver and you take all the risk as an owner operator. It's a win/lose

[@user-yh5jl2jc9b]

Just found your channel and Dave, you are a "Breath of Fresh Air".. Truly amazing to find someone out there so grounded, sensible, blunt, honest and down to earth. I'm about to take the plunge and start a second career, buy a truck and go Owner-Operator. I'm not new to trucking, I've been a Company Driver for many years but new to the Universe of OO. Do you do "One on One" mentoring? I've watched enough of your vids where I feel your advice is worth listening to, actually, I'd be willing to pay you on an hourly basis to pick your brain. What say you??? Best regards........

[@truckerdaveandred6731]

I wish I had the time. Mentoring is a must and it's sorely lacking in this industry. I was a company driver for years myself and everybody had me convinced that I couldn't do it without them and that I was going to fail and that it was going to be miserable. They were all wrong. Don't get me wrong, it was a lot of trial and error and it was a lot of work but I love it and I don't know if I could ever go back to being a company driver again. I sincerely hope it works out. Just remember, you are the sum of the company that you keep and if you hang out with five successful truck drivers, you will be the 6th. Good luck and I hope you'll get back with me when you've made the plunge and I look forward to seeing how you're doing.

[@user-yh5jl2jc9b]

Thanks! for the reply and words of encouragement. I can understand your time constraints considering all you're involved in. You have more talent and creativity in your little finger than most people have in their entire body. You're certainly the classic "Renaissance Man". Thanks for all the amazing videos you're putting out. @@truckerdaveandred6731

[@truckinfool3550]

Uncle Sam doesn’t just want his taxes, he WILL take his taxes from you…

[@keneddie7336]

Looking to buy a truck. Sold my old one. Have about 15000 cash will need a loan. Been told to buy pre DEF also Been told buy after 2015 they were getting the bugs worked out. What do you think? Also what do you think about getting a truck at Ritchie Brothers.you have really good info thanks big help.

[@truckerdaveandred6731]

They're getting all the bugs worked out for the most part across the board to where a second end user, I would be more interested in how the system was maintenance. At half a million miles, once the trucks out of warranty, there's going to be a whole host of things that are going to need to be inspected, cleaned and possibly replaced. If you get a good deal on a truck expect to spend three to five thousand in the next 6 months on just deferred maintenance. But truthfully if the truck checks out and clicks the boxes you need it to click, and the price is where you need it, you can start narrowing down the plus or negative box of whether or not to buy it. Once you figure out your emission system, and start learning all its little quarks, yo quit being afraid of it and realize with proper maintenance, you'll be able to afford it a lot easier than you think. If the trucks got 8 or 900,000 on it and it still has the original scr catalyst system and the original turbo, you can probably imagine those are going to be the first two things you're going to need to replace so that's just something to keep in mind. Of all the expensive things on that engine, those are going to be the two most costly things to replace

[@keneddie7336]

Thank you

[@robc2821]

Been an owner opp for 40 yrs my honest opinion is drive a company truck for now until the coming elections once that's over its going to take another few months till I would recommend buying a truck rite now everything is against a trucker fuel is too high and the rates are still way low to cover your cost !!