Buying a New Truck: Owner Operator Business Series - Part 2

Buying a New Truck: Owner Operator Business Series – Part 2

we had a request from one of our followers the other day to talk about buying a new truck and how I went about it or what I recommended so I thought we'd go through that a little bit today I'm not an expert on it but I can tell you what's worked for me over the years and maybe you'll draw some some good advice from that there are two ways to buy a truck really there's the first intent is to keep it for a couple years and then and then ditch it like a throwaway truck is what I call that or you can you can buy and spec a truck with resale in mind which is how I've always done it I always I always found that that that worked better in the me financial plan that I had was to pay a little more spec what I wanted get a good truck keep resale in mind and then at the end of the day when I was ready for another truck be able to sell the truck that I had for good money and that worked for me there are all sorts of tricks to keep in mind when you're doing that one of the best pieces of advice I can give you is to start with an experienced salesperson now there are a lot fewer and farther between than you might think you can go into a truck dealership and see ten salesmen but they'll really only be one or two that truly know the product the rest are coming or going or at some stage in between you need some guy that really knows what he's talking about because trucks are an expensive purchase so you want a guy that's going to be able to be a benefit to you and help you and know what he's talking about not just some salesman that's going to try to sell you that the option of a month because it gets on that particular transmission or whatever it is so it's worth your while to hunt down an experienced salesman there are things to keep in mind when you're specking a new truck and and I tend to spec rather than buy off the lot because you've got to live in this thing literally for the length of time that you keep it so for the money you're spending you might as well have something you like and you might as well have something that's going to hold its value so there are there are things to keep in mind here you want to spec for fuel mileage certainly these days fuel mileage is is very important but you also want to have a spec that will do the job the truck will do the work that you intend it to do so that that you're talking about rear ends and tranny and engine there you want to have the proper driveline and specifications for the work that you're doing having said that you don't want to spec a truck that is job specific that is to say a truck that can only haul heavy weight for instance because then at the time when you go to sell that truck it's only going to appeal to someone else that's in that same finite line of work that's looking for a heavy spec truck you want to spec a truck where I've always spectat ruck that could do a variety of different types of work whether it be reefer work or flatbed work and I've always spectat ruck that could run 80,000 pounds gross rather than a light frame truck or a heavy spectrum i spec somewhere in the middle I spec a truck for reliability as well it's it's one thing to have a truck that gets great fuel mileage but if the engines not reliable and quits half the time that's just money going out the window so you've got a spec with reliability in mind too and that's why you need a Salesman that that knows what's going on with the engines and how many are they're getting back into the shop who's having trouble with the Detroits or the commons or whatever the pack our motors which engine seems to be proving itself to be the best all the way around because you need reliability you need reliability honestly these days if I were buying a new truck I'd seriously consider buying a glider kit rolling glider kit which is essentially a brand new truck without the motor and then taking an existing motor rebuild it from front to back and drop it in honestly if I were doing that again that's the route I would go it's expensive but at least you know exactly what you've got as far as respecting a new truck something else to keep in mind is you want to spec something or go with specs that have been around for a little while that are tried-and-true that are Highway tested you don't want to buy a spec that the engineer has just come right off the shelf with because you don't know how it's going to work out in the long run over the over the miles my favorite example of this was the anteater when it first came out great truck fuel mileage was really good because of the sloped nose but because the hood was dropped so drastically they could only fit a small radiator in the front of the grill and approved that the early anteaters had a tendency to overheat just because the rad wasn't big enough so there is something you know that just hadn't spent the time on the highway that they could check it out to see whether it was going to work or not as it turned out in a few years they solved that problem but the early anteaters had that issue it was solvable but you don't want to have one of the trucks that's brand new off the lot and they find it what's wrong with it you want a model in a truck and specs that have been tried true another example of that was the 8-speed transmission the salesman toted that as as the transmission for a couple years well it turned out it didn't really work that well the jump between 7th and 8th was too great it didn't want to pull a good load at a headwind and the resale on it was terrible so guys with 8-speed transmissions I thought they were getting the hot set up at the time ended up losing at the end of the day so you want something that's tried-and-true automatic transmissions I'm not a fan of them simply because I don't think they have all the bugs out of them yet in the future they may have but I don't think engineering is to that stage yet a lot of guys like these super single tires to me I I wouldn't go that way because when a super single blows it drops right down onto the rim and not only is the tire destroyed the rim is destroyed so you're looking at a $1,200 purchase simply for a flat tire moose bumpers probably a good idea these days actually for the investment because one of these trucks now if it hits a deer it's $20,000 damage to the front end if you hit a moose or something like that it's more so or another car so you might seriously want to consider purchasing a moose bumper these days it's it's worth the investment yeah a little bit ugly and they're not cheap they run about five or six thousand dollars but we the insurance companies are going nowadays it's probably a good idea I always SPECT long hood trucks like this one here because of the resale value slope knows trucks drop nose trucks have been around long enough these days that they're starting to have good resale value as well so these days I would probably spec a drop nose truck because I'd still get resale out of it and I'd have the advantage of the fuel mileage as well some guys some guys like to buy used trucks I've only ever done that twice both times it's worked out well for me but both times I knew the trucks history and I knew the owner and I knew the history from the day it was due I knew these guys had taken care of the trucks so I knew the whole history of the truck the maintenance everything you buy a used truck off a lot you don't know what it's been through by the time you get it so buying a truck is a gamble always so you try to eliminate the odds of having a problem and when you're buying a used truck in my thinking you may have more problems that you're not expecting that you hadn't anticipated so I tend to buy always a new truck unless the used truck is one that I've known the history of right from right from day one and and knowing the guy that owned it and who is taking care of it buying a truck is is an expensive proposition it's a risky proposition and it's it's a gamble let's face it you're you're not guaranteed to make money with it so you want to eliminate as many of the things that could cost you money as possible so if you take your time spec a good truck out and use a good salesman do it correctly and ensure that you have a good contract for it so take the time and do the research to do it properly

36 thoughts on “Buying a New Truck: Owner Operator Business Series – Part 2

  1. What about trailers? Can you explain about owning, leasing or the using of a companies trailer? How does the whole trailer aspect work. Live load or drop and hook. Explain this aspect if you would, please. Always appreciate your thoughts and advice. Thanks

  2. Smart trucking, my method is I tell them what I want, if they can't come up with it, tell them to drive the truck, or put it on rail car pay the government.
    I go to work at 6a on Monday, home by 12p Friday, if I go over its $500/hour or portion there of. My detention/breakdown pay $500/hour, no ifs ands or buts. When drivers start telling these scrum balls cold hard facts, you'll pay come into line real fast.

  3. One last question do you think the dd13 with 500,000 miles for 52,000 is a fair price ?? It was a Crete truck by the way

  4. I had a `95 Freightliner,flattop,500 detroit,super 10 sp,,paid off,,all my money went to my CDs,my son bought him a NEW Peterbuilt,$3,000 month note,,soon he went BROKE,,paying for his pretty Yellow Pete,,she looked pretty going down the road,,now my son is rideing his rocking chair,wondering how he made such a BAD mistake in buying that pretty Pete,,,,trucking is a hard life,,DO NOT waist your money on a pretty truck,,buy a GOOD truck that will MAKE you money,,NOT waist it,,,,,,,,,,,,,,Blue Goose,,,,,,,,

  5. 4 million miles, no accidents? wth? do u drive on mars? i do short haul in Los Angeles. its just a matter of time and ur gonna have an accident. do u drive in the middle of Australia? come on man.

  6. im tryna purchase a truck with a dd13 engine on it to haul no more than 80.000 pounds what is your opinion on a dd13??

  7. Well class when he refers to a truck called the anteater he's talking about a KW T600. I've always been a caterpillar guy but driven all kinds of different Motors. Here's what I like, my two cents. Nothing less than 475hp. 13 spd my favorite.(unless you local 10spd& heavy haul 18 spd) rears 3:55 or 3:58. Far as I shift at least 455-500 hp/3:36 rears. My 2 cents

  8. Good advice. advice on transmision- I personally own an allison in my dump truck for 13 years. Run from automatics and auto shifts, run, run,run, far far away!!!!! That thing has screwed me over so many times, shops have too, no one knows how to work on them, but they have no problem charging for their pretend/fake service.

  9. Man most vedios ive watched from you is absolutely worth knowledge, I appreiciete the great advices and information that you provide. Thank you

  10. Kudos to you brother…this is a beautiful video. Us newbies are very fortunate that guys like you are making these videos.

  11. I run a automatic truck currently it's not a bad peace of equipment but I prefer a standard transmission the automatic doesn't have the power we need for the work I do we don't have any trouble with the truck but I do find it kinda flimsy and don't believe it is going to last a long time

  12. Bought my truck straight cash didn't want a truck payment and paying the bank interest lol love my truck yea I got def and dpf crap which honestly I think it bogs down the truck alot but other then that love my truck.

  13. Thank you man for this video ..
    Have you questions what the chance to get semi truck Finance if I no have CDL Class A ?
    Thank you

  14. I am looking into purchasing a 2011 Kenworth with 230,000 miles with the isx15 Cummins for 60k. Does that sound like a good truck?

  15. Great information. I love watching your videos. Your Honest and straight forward. Thank you. Im a Trainee but you have given me some good info in your Videos. I will watch them all.

  16. I was thinking of getting a used truck for around 15k and allowing another drive it for me is there any experts here that can give me advice? Thanks

  17. I’m buying a 2014 Peterbilt isx Cummings this Friday 13speed paid the extra for the warranty.I went with a Peterbilt because I notice in ur videos that you have always had them and resale on them is big!I traded in my Volvo loved it but almost a million miles didn’t want to do the overhaul.Thanks for your help Dave!!!

  18. Want your opinion. Would you recommend purchashing an older truck with 500,000 to 700,000 miles from Penske or Ryder (truck rental companies)…even though they won't let you test drive the vehicle on the road?

  19. Only have 8 thousand on saving looking forward to buy my own truck.Do you think I can found something decent to start?

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